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Elizabeth Smith

Credit Card, Savings and Retirement Expert

Liz Smith is a graduate of New York University and has been passionate about helping people make better financial decisions since her college days. Liz has been writing for SmartAsset for more than four years. Her areas of expertise include retirement, credit cards and savings. She also focuses on all money issues for millennials. Liz's articles have been featured across the web, including on AOL Finance, Business Insider and WNBC. The biggest personal finance mistake she sees people making: not contributing to retirement early in their careers.

Posts by Elizabeth Smith:

by Elizabeth Smith Feb 23, 2018

When it comes to financial health, it isn’t just about making more and more money. No matter how much money you’re making, you need to be saving a significant chunk of your funds. This comes in handy in case of emergencies or unexpected expenses. It also isn’t enough to stash away wads of cash under your mattress, which leaves your money vulnerable to fire or theft. A savings account allows you to not only keep your money safe and insured, but you also get to grow your money according to a financial institution’s set interest rates.  Read more

by Elizabeth Smith Feb 19, 2018

When you start a new job, there’s a lot of paperwork to fill out, from direct deposit documents and benefits enrollments to various tax forms. But when you’re self-employed, taxes work a little differently with different forms and processes. You will still have to report your earnings to the Internal Revenue Service (IRS). The companies that use your services will have to report your earnings to the IRS, too. That’s where the W-9 form comes in. Read more

by Elizabeth Smith Feb 16, 2018

For most of us, payday doesn’t involve any actual cash. And keeping cash hidden at home isn’t exactly foolproof (think theft, fire, flood). That’s where checking accounts come in. Checking accounts are safe places to keep your money. Most are insured by the Federal Deposit Insurance Corporation, meaning you’ll be covered up to $250,000 should a bank get into trouble. Keep reading to find out what exactly a checking account is, how it differs from a savings account and where you should open one. Read more

by Elizabeth Smith Feb 12, 2018

The interest you earn on a savings account is nice, but the accessibility of your funds in a checking account really can’t be beat. Have you ever thought about getting the best of both worlds?… Read more

by Elizabeth Smith Feb 08, 2018

Chances are, you’re pretty intimate with your checking account. This type of account is typically used for regular spending. You may even move money in and out of it multiple times a day. The best… Read more

by Elizabeth Smith Feb 16, 2018

Most of us rely on financial instruments to keep our savings safe, but it can be hard to know if you’re saving enough. Evaluating the average savings account balance across the country is a good… Read more

by Elizabeth Smith Jan 26, 2018

If you’re not entirely sure what a credit union is or what it does, you’re not alone. In fact, economic experts often refer to credit unions as the financial industry’s best-kept secrets. Credit… Read more

by Elizabeth Smith Jan 12, 2018

Investment banking is a division of banking focused on raising capital for companies, governments and other entities. Investment banks, which are typically private companies, may underwrite debt and… Read more

by Elizabeth Smith Jan 10, 2018

As you get older, you start thinking more about retirement distributions than contributions. One of the biggest questions that near-retirees have is the best age to start collecting Social Security… Read more

by Elizabeth Smith Dec 20, 2017

Any money that you put into your 401(k) is yours. But when it comes to employer match contributions, things work a little differently. To own any portion of your employer’s contributions, you’ll need… Read more

by Elizabeth Smith Jan 31, 2018

Advertiser Disclosure: The card offers that appear on this site are from companies from which SmartAsset.com receives compensation. This compensation may impact how and where products appear on this… Read more

by Elizabeth Smith Dec 15, 2017

Frequent travelers know that making a purchase overseas can cost more than the price tag indicates. Unless you have one of the best travel credit cards, you usually end up facing a couple of fees… Read more

by Elizabeth Smith Dec 08, 2017

Between Netflix dramas and bad press, working in Congress might seem like a walk in the park. Filibusters and government shutdowns tend to dominate the headlines. In 2017, the House of… Read more

by Elizabeth Smith Dec 11, 2017

Taking money out of a 401(k) is a big decision. The specifics of how to take money out of a 401(k) plan depend on your age, employer plan, whether you’re still working for the company that sponsors… Read more

by Elizabeth Smith Dec 18, 2017

You already know saving for retirement is important, but the best ways to do it arean’t always apparent. You’re likely familiar with the basics, like a 401(k) and a traditional IRA. But your goals… Read more

by Elizabeth Smith Dec 08, 2017

For a young, working person, it can be hard to imagine – and save for – the future. Retirement and death seem light years away. But it’s essential to calculate the savings you’ll need for retirement… Read more

by Elizabeth Smith Nov 28, 2017

When it comes to saving for retirement, you have a ton of options to choose from. Do you open a traditional IRA or a Roth IRA? Which investments should you place in your 401(k)? It can be a lot to… Read more

by Elizabeth Smith Nov 24, 2017

Ever wondered where your credit report and credit score come from? These crucial tools in the financial world don’t just spring up by themselves. They are created by credit bureaus, companies that… Read more

by Elizabeth Smith Nov 20, 2017

The term “fiduciary” has recently cropped up in headlines as lawmakers debate the rules that govern the financial industry. You may have seen it mentioned if you’ve ever searched for a reliable… Read more

by Elizabeth Smith Nov 13, 2017

Your money is important. As you strive to reach your financial goals, you may consider turning to a financial advisor. But expertise comes at a cost. Fees and compensation structures differ from… Read more

by Elizabeth Smith Nov 10, 2017

You may already be familiar with a 401(k), an employer-sponsored, tax-advantaged retirement plan. You fund this account by contributing a set percentage of your paycheck into the account. These funds… Read more

by Elizabeth Smith Jan 10, 2018

Credit is a huge part of your overall financial health. Having good credit can get you the best rates when it comes to credit cards or mortgages. Conversely, having bad credit or no credit can mean… Read more

by Elizabeth Smith Oct 20, 2017

It’s not always easy to keep up with your finances. Sometimes one late payment turns into two or three. When creditors feel that you’ll never repay them, they often close your account and send your… Read more

by Elizabeth Smith Oct 16, 2017

Your credit report is a huge factor when it comes to meeting your financial goals. Whether you want to get a high-earning rewards credit card or buy a home, you’ll need at least a good credit score.… Read more

by Elizabeth Smith Oct 12, 2017

Have you ever used the term “credit card” when you actually meant your debit card? What about being unsure of which card to use? If so, you’re not alone! Credit cards and debit credits cards look… Read more