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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 Dec 16, 2020

Requesting financial aid often feels like it requires a mile-high stack of paperwork. And as if the endless form-filling isn’t enough, just getting the right type of aid can be confusing. A financial aid advisor can help students and their families navigate the complicated financial aid process and help them get the funding they need. To better understand the services these advisors can provide, here’s a breakdown of what they offer. Read more

by Ashley Chorpenning Dec 16, 2020

Retirement savers and participants in 401(k) plans may soon face a new Department of Labor (DOL) policy, presenting them with either more investment options or just unnecessary costs, depending on one’s perspective. In December 2020 the DOL issued its final rule regarding an exemption to the Employee Retirement Income Security Act (ERISA) that would let financial fiduciaries be paid for advice on rollovers by third parties so long as they act in savers’ best interest. However, before it takes effect the so-called “fiduciary prohibited transaction exemption” is likely to be toughened by the incoming Biden administration. Here’s an overview of the development along with possible pros and cons of the newly released exemption. Read more

by Ashley Chorpenning Dec 09, 2020

Retiring in China, the world’s most populous nation with some 1.4 billion residents, can offer financial benefits and geographic diversity but also significant challenges. It is generally less expensive to live in than the U.S. and the nation, which has the world’s third-largest land mass, offers a vast array of landscapes and seascapes to choose from. However, the government has been rolling out a social credit system that could affect the quality of retirees’ experience in the country. Here’s a rundown of the key things to know if you’re considering retiring in China. Read more

by Ashley Chorpenning Dec 03, 2020

TD Ameritrade and E*TRADE are two popular investment brokerages. The companies help consumers trade and invest online. If you are deciding which online company to use to help you invest your funds,… Read more

by Ashley Chorpenning Dec 21, 2020

Many people choose to begin their investment portfolios online and even on mobile apps, of which there are many options. With so many possibilities available, it’s challenging to know where to begin.… Read more

by Ashley Chorpenning Dec 02, 2020

As you prepare for marriage, you’re probably thinking about everything but a prenuptial agreement. However, even people in rock-solid relationships sometimes choose to sign a prenuptial agreement or… Read more

by Ashley Chorpenning Nov 18, 2020

Many employers offer retirement benefits, and some will even match their employees’ contributions. However, most people leave employers several times throughout their careers. In leaving one job and… Read more

by Ashley Chorpenning Nov 18, 2020

An annuity describes a contract between a policyholder and an insurance company. With this contract, policyholders give the insurance company a lump-sum payment in exchange for a series of payments… Read more

by Ashley Chorpenning Nov 17, 2020

Retirement is an exciting time in many people’s lives, but in evaluating which benefits to take when, those who leave the workforce may wonder whether they can get Medicare at 62? There’s not a… Read more

by Ashley Chorpenning Nov 16, 2020

Every year, people’s lives change in ways that affect their taxes. They may start a higher education program or have a child, and others take on elderly parents as dependents. These situations can… Read more

by Ashley Chorpenning Nov 11, 2020

When planning for a marriage, couples may not consider the possibility of divorce. However, many financial experts recommend that everyone get a prenup in case a divorce occurs. According to the U.S.… Read more

by Ashley Chorpenning Nov 03, 2020

Purchasing life insurance is a big decision and is not to be taken lightly. If you’re considering life insurance to protect your family if you die or as a savings vehicle for retirement, it’s… Read more

by Ashley Chorpenning Nov 03, 2020

A life insurance incontestability clause limits the amount of time an insurer has to contest a policyholder’s coverage because of a misstatement on the policyholder’s application. When a policy takes… Read more

by Ashley Chorpenning Oct 30, 2020

Variable universal life insurance is a type of permanent life insurance policy, like whole life insurance. However, variable universal life (VUL) insurance, which typically allows for flexible… Read more

by Ashley Chorpenning Nov 03, 2020

Basic life insurance is a simple life insurance policy, often offered as part of a benefits package at a company along with group health insurance, paid time off and more. Companies often offer basic… Read more

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… 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… 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… 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