Posts by Danielle Klimashousky
Mortgage Basics
What Is a Quitclaim Deed and How Does It Work?
A quitclaim deed sometimes referred to as a non-warranty deed is a document used to transfer interest in a property. Common terms utilized alongside quitclaim deeds are “grantor” and “grantee.” In this context, the grantor is the one transferring the ownership… read more…
Bank Reviews & Comparisons
Are Banks Open on Labor Day?
Labor Day is an American holiday that celebrates workers and the labor movement. Observed on the first Monday of September, it also (unofficially) marks the end of summer. To most, Labor Day means a three-day weekend of fun in the sun,… read more…
Banking Basics
What Time Does the Bank Close?
While there’s a lot you can do at an ATM or through a mobile banking app, there are times when you need to visit an actual bank branch. So what time does the bank close? In the past, all bank… read more…
Banking Basics
How to Get Your Bank Statement Online or By Mail
Every month, your bank prepares a document for you showing all of of your transactions for the past month. This is called a bank statement. It’s important to review your bank statement regularly – in part to ensure there aren’t… read more…
Bank Reviews & Comparisons
Ally vs. Barclays Bank
Online-only bank accounts are increasingly popular. They tend to offer better interest rates than typical banks because they don’t have to pay the costs of having brick-and-mortar locations. Two popular online banks in the U.S. are Ally Bank and Barclays… read more…
Certifications & Licenses
What Is a Chartered Life Underwriter (CLU)?
Chartered life underwriter, or CLU, is a financial services certification for financial advisors who specialize in life insurance within the context of estate planning. Although many advisors have experience with estate planning, CLUs go through rigorous training to earn this designation. The education process involves learning about risk management, insurance, annuities and more. To find a… read more…
Bank Reviews & Comparisons
Are Banks Open on Black Friday 2023?
Though it may seem like an unofficial federal holiday, many banks are actually open on Black Friday. However, in many states the day after Thanksgiving is considered a state holiday, which means bank locations in those states may be closed.… read more…
Advisor Fees & Costs
What Are 12b-1 Fees?
12b-1 fees are annual distribution fees related to mutual funds. They are operational expenses, and they’re usually a part of a fund’s expense ratio. These fees are separate from the normal management fee and are typically for marketing expenses. In… read more…
Pensions & Other Retirement Accounts
Pension vs. Annuity: What’s the Difference?
Pensions and annuities are two common sources of retirement income. However, they are quite different with their own advantages and disadvantages. Which one is better for you will depend on your individual circumstances. For example, some people may choose a… read more…
Retirement Planning
What Is a Testamentary Trust?
As you sit down with your financial advisor to create an estate plan, one option that may arise is a testamentary trust. A testamentary trust is a type of trust that’s created in a last will and testament. Also known as… read more…
Annuities
How Do Annuities Work?
When it comes to retirement, Social Security and your 401(k) plan don’t always cover you throughout your retirement. If you’re planning for retirement, you might want to also consider opening an annuity. Annuities are long-term investments that help protect you… read more…
Advisor Basics
What Is an Investment Broker?
If you’re getting started in investing, an investment broker can be a great asset as your connection to the market. Investment brokers serve as go-betweens for buyers and sellers on the stock market. They enable their clients to purchase stocks,… read more…
Retirement Planning
What Is a Trust Fund and How Does It Work? Definition and Overview
There are many ways to set up a financially secure future for your loved ones. Trust funds, for example, can be a strong way to set your children or grandchildren up for future financial success. Also, contrary to popular opinion,… read more…
Healthcare & Living
What Is a Living Will?
A living will is often overlooked in favor of a last will, but both are important and individual documents for you to consider. A living will is a written statement that states your wishes for medical treatment in cases where… read more…
Banking Basics
What Are the Best Ways to Transfer Money Internationally?
Whether you’ll be making a number of international money transfers or it’s a one-time transaction, it’s important to know the best ways to send money internationally. Maybe you need to put down a deposit for a vacation rental, send money… read more…
Banking Basics
How to Fill Out a Money Order
Despite the ease it provides, paying in cash isn’t always the most secure form of payment. Instead, you may be asked to pay with a money order. You can get a money order almost anywhere, like banks, post offices and… read more…
Checking Accounts
How to Open a Checking Account
Opening a checking account, whether a personal or business checking account, is a relatively easy process as long as you’re prepared with the right information. It becomes even easier when you know what to expect. To open a checking account,… read more…
Banking Basics
How to Cash a Check
At some point, you may end up receiving money in the form of a check. This could be your paycheck, your tax refund or a personal check from a friend. Unlike cash, you can’t turn around and spend the check… read more…
Certifications & Licenses
What Is a Financial Coach, and How Can They Help?
If you need help getting your finances in order or learning the basics of budgeting, you might consider seeking the help of a financial coach. A financial coach is different from other financial professionals. They spend more time helping their… read more…
How to Invest
Making an Investment Plan: A Step-by-Step Guide
Making an investment plan involves more than just choosing a few stocks to put money in. You have to consider your current financial situation and your goals for the future. It’s also important to define your timeline and how much risk you’re willing to take on in order to determine your optimal asset allocation. All… read more…
Portfolio Management
How to Diversify Your Investment Portfolio
When creating an investment plan, understanding how to diversify your portfolio is one of the most important aspects. Diversification essentially means spreading your assets among a variety of investments. Doing this helps to mitigate risk and provides the potential to improve returns. A financial advisor can help you optimize an investment strategy for your financial… read more…
Investing for Beginners
What Is an Investment Advisor?
If you need help making investment decisions and managing your portfolio, you may want to seek the advice of an investment advisor. Investment advisors are basically financial advisors that, for a fee, provide guidance and management for your investment portfolio. These individuals… read more…
Banking Basics
What Is a Safe Deposit Box?
A safety deposit box, also known as a safe deposit box, is an individually locked box held within a larger vault. These are usually located in a bank, which is a very secure place to put it. These boxes come… read more…
Banking Basics
What Are Daily ATM Withdrawal Limits and Debit Purchase Limits?
When it comes to withdrawing money from an ATM, you are limited to the amount you can withdraw in one day. You’re also subject to the amount of money you spend with your debit card each day. All banks impose… read more…
Banking Basics
What Is a Prepaid Debit Card?
You’ve probably received a Visa, MasterCard or American Express gift card at some point. Or, you’ve bought one yourself. Prepaid cards can be found in the checkout line at the gas station or even in your mail as a reward… read more…