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Ashley Chorpenning

Retirement, Investing and Budget Expert

Ashley Chorpenning is an experienced financial writer currently serving as an investment and insurance expert at SmartAsset. In addition to being a contributing writer at SmartAsset, she writes for solo entrepreneurs as well as for Fortune 500 companies. Ashley is a finance graduate of the University of Cincinnati. When she isn’t helping people understand their finances, you may find Ashley cage diving with great whites or on safari in South Africa.

Posts by Ashley Chorpenning:

by Ashley Chorpenning Oct 23, 2020

Some people plan where every dollar of their budget goes. This method is called zero-based budgeting, and it involves allocating every dollar of income to your expenses, debts and savings. In other words, the goal of this method is that your monthly income and your expenditures are equal so that subtracting the latter from the former gives you zero. If you’re looking for a budgeting strategy that gives every cent you earn a “home” or you’ve been having trouble making a budget then here’s what zero-based budgeting is, how it differs from traditional budgeting and why it may work for you. Read more

by Ashley Chorpenning Oct 23, 2020

When purchasing or leasing a new car, you have several insurance coverage options. When selecting coverage, you will likely know if you want to have collision coverage or not, but will you know what gap insurance and whether to select that option? If you are driving your owned vehicle or a leased one, and it is totaled, your collision coverage insurance will cover your vehicle’s cash value. The coverage will help you to purchase a another car. However, what if you owe more on your car than it’s worth? That is where gap insurance comes in. Here’s what you need to know about this type of coverage. Read more

by Ashley Chorpenning Oct 22, 2020

Simply put, political contributions are not tax deductible. Americans are encouraged to donate to political campaigns, political parties and other groups that influence the political landscape. When it comes time to file taxes, though, many people are surprised to learn what qualifies as a tax deduction. If you support your favorite candidate, you might be wondering: Are my political contributions tax deductible? Though your political contributions may not lower your tax liability, it pays to have a nuanced understanding of where else in your donations  and spending you can secure tax deductions. Read more

by Ashley Chorpenning Oct 22, 2020

In borrowing, there are two types of debts, recourse and nonrecourse. Recourse debt holds the person borrowing money personally liable for the debt. If you default on a recourse loan, the lender will… Read more

by Ashley Chorpenning Oct 09, 2020

Life insurance is one of the first investments that many people make when solidifying their financial future. There are a lot of terms that are unique to life insurance, and some can be confusing. If… Read more

by Ashley Chorpenning Oct 09, 2020

When buying a life insurance policy, it’s important to remember there is no one-size-fits-all policy. Therefore, insurance companies allow policyholders to purchase riders to help customize their… Read more

by Ashley Chorpenning Oct 05, 2020

If you’ve ever wondered how you would make your life insurance premiums if you were unable to earn an income, then you need to know about the waiver of premium rider. When an insurance policy… Read more

by Ashley Chorpenning Oct 05, 2020

In life insurance, insurable interest refers to what level of loss you’d experience should a specific person become incapacitated or die. It’s important because it helps prevent insurance fraud. If… Read more

by Ashley Chorpenning Sep 23, 2020

Life insurance is a contract through which a policyholder pays an insurer in exchange for a payout when the insured dies. Most adults have heard of life insurance, and many have been told that they… Read more

by Ashley Chorpenning Sep 21, 2020

A term life insurance policy provides a death benefit or lump sum payment to a beneficiary if the policyholder dies during a specific “term” or period of time. Often called pure life insurance, term… Read more

by Ashley Chorpenning Sep 17, 2020

Insurance fraud can occur during any stage of the insurance transaction by any party involved. This means that applicants, policyholders, third-party claimants, professionals who provide services to… Read more

by Ashley Chorpenning Sep 15, 2020

Term life insurance offers coverage for a specific amount of time, while whole life insurance provides lifelong coverage and the potential for a cash value accumulation. When you pass away, your… Read more

by Ashley Chorpenning Aug 28, 2020

Married couples often share their income both while working and in retirement. However, when one spouse dies, the other might still rely on the deceased’s income. This is where Social Security… Read more

by Ashley Chorpenning Aug 25, 2020

Concierge medicine has established itself as a distinct type of healthcare delivery system due to its flexibility, efficiency and access. However, this membership-based access to quality healthcare… Read more

by Ashley Chorpenning Aug 25, 2020

Many aging adults may need some form of in-home care later on in life. Since Medicare is a health insurance lifeline for many seniors in the U.S., many may wonder: Does Medicare cover home healthcare… Read more

by Ashley Chorpenning Aug 12, 2020

Assessing your financial situation can help you understand your options for creating a steadfast financial future. To outline your finances, a personal financial statement can provide an overview of… Read more

by Ashley Chorpenning Aug 03, 2020

If you have multiple debt balances from credit cards, high-interest loans and other forms of debt, you may want to merge them into one payment. You can use a debt consolidation loan to combine them… Read more

by Ashley Chorpenning Jul 30, 2020

Permanent life insurance can allow you to continue to support your family members and ensure that they are financially protected after you pass away. This is a life insurance policy that never… Read more

by Ashley Chorpenning Jul 23, 2020

Having “financial freedom” means different things to different people. But, generally, it is understood as being able to live the lifestyle of your choosing while responsibly managing your finances.… Read more

by Ashley Chorpenning Jul 17, 2020

If your university, college, or higher education institution closes, you might be wondering if you can discharge student loans. It’s an especially pertinent question now, with many schools… Read more

by Ashley Chorpenning Jul 08, 2020

If you’ve thought about retiring in Central America, you’ve likely learned plenty about Costa Rica and Panama, two popular destinations for ex-pat retirees. However, their neighbor Guatemala, the… Read more

by Ashley Chorpenning Jul 08, 2020

As you plan how you will leave your estate, it’s important to your family’s future that you leave a legacy with well-executed documents. It’s also essential that you understand all of the roles of… Read more

by Ashley Chorpenning Jun 24, 2020

Many people graduate from colleges in the United States with debt. According to EducationData.org, the average 2020 student loan debt was $32,731 per graduate. This means that many people are paying… Read more

by Ashley Chorpenning Jun 17, 2020

If you are married, you’ve likely spoken to your spouse about retirement. You may have a goal of moving somewhere tropical and enjoying your golden years on a beach, or you might want to stay where… Read more

by Ashley Chorpenning Jun 16, 2020

The COVID-19 pandemic continues to impact many working Americans. Whether they contract the disease themselves, are responsible for the care of someone with the virus, or have had their employment or… Read more