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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 Mar 20, 2023

Condominiums can provide a stable, amenity-induced living experience at an affordable cost. For a number of people and families, condos offer a better option than a traditional home. However, it’s important to understand what you’re getting into before you take the plunge. Condos are quite different from the single-family dwellings you may be used to. Read on to learn more about what goes into owning and buying a condo. A financial advisor can help you create a financial plan for your home buying needs and goals. Read more

by Elizabeth Smith May 30, 2023

Self-employment or working for a small business may sound like a dream. However, one downside is that you likely won’t have access to a workplace retirement plan like a 401(k). Sure, you could max out the $6,500 annual IRA contribution limit, but that might not be enough to reach your savings goals. That’s where the Keogh (pronounced KEY-oh) plan can come in. A Keogh plan is a tax-deferred retirement plan for self-employed people and small businesses. If you have questions about planning for your retirement, consider working with a financial advisor. Read more

by Elizabeth Smith Mar 11, 2023

Some investors say that when the real estate market gets too big, it’s bound to fail. This market condition is commonly known as a “housing bubble” and it tends to happen when home prices rise beyond what homebuyers believe to be reasonable or sustainable. Let’s break down how a housing bubble can affect your mortgage and the U.S. economy. A financial advisor can help you create a financial plan to protect your real estate investments from a housing bubble. Read more

by Elizabeth Smith Sep 19, 2022

In the long term, it’s often smarter to buy a home than rent one. You could capitalize on both, though, through a real estate investment. You can buy a home for the eventual returns and rent it out… Read more

by Elizabeth Smith Jan 08, 2020

Paying taxes is never fun. Fortunately, you may be able to reduce how much you owe in federal income taxes by claiming certain tax deductions. There are exclusive tax breaks for self-employed… Read more

by Elizabeth Smith Jan 24, 2023

Planning for retirement can be challenging. Figuring out exactly how much you need to sock away can be tricky, even if you use a retirement calculator. And many retirees are concerned about running… Read more

by Elizabeth Smith Sep 27, 2022

Anyone buying a house for the first time has to become familiar with various real estate terms. For example, you’ll need to understand the difference between being pre-qualified and preapproved for a… Read more

by Elizabeth Smith Oct 01, 2022

If you’ve only compared mortgage rates published by banks and private lenders, you could be missing out on loans backed by the federal government. For example, there are mortgages that are issued and… Read more

by Elizabeth Smith Mar 18, 2023

The IRS knows that some taxpayers provide their children and relatives with financial support. That’s why the government offers folks with dependents the opportunity to reduce their tax burden. Being… Read more

by Elizabeth Smith Mar 17, 2023

If you were paying close attention to the presidential race, you may have heard someone say something about carried interest. Or maybe you have finance friends who’ve mentioned this term in passing.… Read more

by Elizabeth Smith Mar 20, 2023

Gasoline has reached a 14-year high, with the national average for a gallon hitting $4.009, per AAA data. And the pain you’re feeling at the pump is only set to get worse: GasBuddy predicts gas… Read more

by Elizabeth Smith Mar 20, 2023

Bank-to-bank transfers allow consumers to move money electronically. Specifically, they allow someone to transfer money from an account with one bank to an account with another institution. If you’ve… Read more

by Elizabeth Smith Apr 01, 2023

We all know that it’s important to pay off our debt. But student loan debt can sometimes get lost in the shuffle when you’re trying to keep up with your other bills and financial obligations. If you… Read more

by Elizabeth Smith Jun 30, 2016

Diversifying your investment portfolio doesn’t just involve investing in different types of stocks or bonds. By investing in foreign markets, you can lower your overall investment risk and… Read more

by Elizabeth Smith Feb 01, 2023

Things have tightened up in the housing market since the housing crisis and lenders are looking at mortgage applications more closely. Lenders consider many factors before deciding whether to approve… Read more

by Elizabeth Smith Jun 20, 2016

There’s nothing wrong with investing in U.S. markets. But looking at foreign markets might open some doors and provide you with some new, lucrative opportunities that you didn’t have access to before… Read more

by Elizabeth Smith Mar 08, 2023

You’ve probably heard of a trust – the magical inheritance that only an elite few are entitled to. But the truth is, a trust is a financial tool that can benefit anyone who wants control over how… Read more

by Elizabeth Smith May 06, 2023

Trying to pay off credit card debt can be stressful. But switching over to paperless billing can make it easier to manage your payments. When you sign up for this service, all of your account… Read more

by Elizabeth Smith Mar 14, 2023

You probably understand that saving for retirement is important, but you might not know exactly how to get started. Whether you’re able to participate in an employer-sponsored plan or not,… Read more

by Elizabeth Smith May 09, 2023

Participating in a 401(k) plan is one of the simplest ways to start planning for retirement. Unfortunately, not all employers offer this tax-advantaged savings plan. If you don’t have the opportunity… Read more

by Elizabeth Smith Sep 06, 2018

Investments can be great wealth building tools that you can use to multiply your savings. But unfortunately, all of the research and counseling in the world can’t necessarily guarantee a high rate of… Read more

by Elizabeth Smith Aug 01, 2019

Saving for the future can be intimidating. But you don’t want to put it off or settle for strategies that save you very little. There are plenty of ways to take charge of your finances now in order… Read more

by Elizabeth Smith Dec 20, 2022

Many undergraduate students live on campus. However, many decide to start renting off-campus when they become upperclassmen. If you graduate and begin pursuing a higher level of education, you might… Read more

by Elizabeth Smith May 08, 2023

Investing can be a great way to build wealth as a young adult. But if you don’t know anything about stock or bonds, you might be tempted to avoid the process of investing altogether. Avoiding… Read more

by Elizabeth Smith Sep 16, 2022

We all know that the salary we negotiate is not the same as our take-home pay. Between benefits, retirement contributions and taxes, the difference can be quite substantial. In the U.S., federal and… Read more