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.
If a financial planner or financial advisor is fee-only, that means they receive compensation solely from the fees clients pay from their services. They do not earn commissions or kickbacks for recommending certain products. A fee-only structure reduces potential conflicts of interest, which is why these types of advisors are often preferable. To find a financial advisor who serves your area, try SmartAsset’s free matching tool. Read more
For most of us, sending bills and receiving paychecks by mail are things of the past. We shop online, enroll in direct deposit, pay our bills, and file taxes online. If you have ever wondered what facilitates all these digital transactions, you’ve probably heard or read about three little letters with a big job: ACH, or Automated Clearing House. Here’s what you need to know about the ACH system. Read more
Catch-up contributions allow people age 50 or older to save more in their 401(k)s and individual retirement accounts (IRAs) than the usual annual contribution limits set by the IRS. The idea is to make up for the years you didn’t save enough, probably when you were young. The caps for catch-up contributions depend on the kind of retirement account you’re investing into. For help figuring out the best retirement strategy for your needs, talk to a financial advisor. Read more
Michigan’s economy has experienced its ups and downs over the last few decades. Population decline and the national housing crisis have driven prices and mortgage rates down, making it homeownership… Read more
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