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Hilary Collins

Posts by Hilary Collins

how much will my 401k grow if i stop contributing

How Much Your 401(k) Grows If You Stop Contributing

It can be satisfying to watch your 401(k) plan balance grow over time as you contribute to it. But what happens when those contributions stop? The amount your account will grow depends on how much money you have in it… read more…

how to open a 401k without an employer

How to Open a 401(k) Without an Employer

Employer-sponsored 401(k) plans are a popular way for workers to save for retirement, but they’re not the only way. If you’re self-employed or your employer doesn’t offer a 401(k), there are retirement savings vehicles out there that will work for… read more…

is 4 million enough to retire at 40

Is $4 Million Enough to Retire at 40?

Retiring at 40 may sound like a dream come true, but even with $4 million in your bank account, it’s important to have a plan for the future. You’ll need to plan out the next half of your life with… read more…

how to prioritize savings goals
Personal Finance

How to Prioritize Savings Goals

If you’re trying to save, you might be struggling with some common challenges: How do I work towards multiple financial goals at the same time? How can I make sure my financial objectives don’t get lost in day-to-day expenses or… read more…

How to Pay for Nursing Home Care

How to Pay for Nursing Home Care

Nursing home care can be extremely expensive. According to Genworth’s 2021 Cost of Care Survey, the median monthly cost of a private room is a nursing home is $9,034. That’s over $100,000 a year! And most people will need nursing… read more…

How Much Does a CPA Cost for a Small Business?
Financial Advisor

How Much Does a CPA Cost for a Small Business?

If you’re a small business owner, you’ve probably already suffered through a few tax seasons. While taxes for individuals can be complex, filing business taxes is arguably even more challenging. Hiring a CPA, a certified public accountant, can help, but… read more…

Are You Automatically Enrolled in Medicare at Age 65?

Are You Automatically Enrolled in Medicare at Age 65?

Some people who already receive Social Security benefits are automatically enrolled in Medicare when they turn 65. That’s not the case for everyone, though. People who haven’t started collecting Social Security will need to register for Medicare, but signing up… read more…

maximum social security benefit for married couple

Maximum Social Security Benefit for Married Couples

The maximum monthly Social Security benefits a person can get in 2023 is $4,555 if they wait until age 70 to claim their benefits. The maximum amount of benefits a married couple can receive would be $9,110 if both of… read more…

bump up cd

What Is a Bump-Up CD and How Is it Used to Increase Your APY?

Certificates of deposits are some of the safest investments you can make. They are not dependent on the stock market, they are protected by deposit insurance and they have clear terms that you understand going in. A bump-up CD, also… read more…

SmartAsset: Best work-from-home opportunities for retirees

Best Work-from-Home Opportunities for Retirees

While retirement may be associated with leaving the workforce behind, most Americans plan to work past the age of 65. In fact, a 2022 study from the Transamerica Center for Retirement Studies found that around 57% of workers plan to… read more…

SmartAsset: Is $10 million enough for you to retire at 50?

Is $10 Million Enough for You to Retire at 50?

If you have multiple millions set aside for retirement, you may still feel a little nervous at the possibility of giving up a steady paycheck at age 50. After all, many resources that people use for retirement such as traditional retirement… read more…

financial planning for single women
Financial Advisor

7 Financial Planning Strategies for Single Women

If you’re a single woman, most general financial advice also applies to you — but with a twist. As the gender pay gap holds steady, you may need to be a little more vigilant to create an independent financial future. Here… read more…

how to invest in ev charging stations

How to Invest in EV Charging Stations

If you spot a Tesla on the road, you may be impressed by the sleek style of the car, but you may also find yourself wondering: How do you take an electric car like that on a road trip? How… read more…

return on equity vs return on assets

Return on Equity vs. Return on Assets: Key Differences     

Return on equity (ROE) and return on assets (ROA) determine how efficient a company can be at generating profits. Both formulas that can help investors determine how good a company is at turning a profit. Let’s take a look at both… read more…

SmartAsset: How to check your 401(k) balance

How to Check Your 401(k) Balance

If you started a 401(k) and then forgot about it, you may be wondering how you can check back in on the account and see how it’s doing. In this article, we’ll cover how to check your 401(k), how often… read more…

passive income tax

Passive Income: How Is It Taxed?

Most people’s income comes as the direct result of work — you get a job, show up, hopefully perform decently well and then money shows up in your bank account. Some people, though, look to set up streams of passive… read more…

401k contribution deadline

401(k) Contribution Deadlines

Contributing to your a 401(k) is one of the most common and simplest ways to save for retirement. If your workplace offers you a 401(k), you can have money taken out each month, so you don’t even have to think… read more…

halal investing

What Is Halal Investing?

You’ve probably heard of values-based investing. Whether your religious beliefs, environmental goals or personal ethics are guiding your investment strategy, the wide array of investments available today allows you to build a portfolio that aligns with your values. Halal investing… read more…

investing in your 20s

How to Start Investing in Your 20s

The earlier you begin investing, the better off you’re likely to be in the long term. Here’s how you can get started if you’re still in your 20s. It’s never too early to start investing—as long as you do so wisely.… read more…

does 401k withdrawal affect social security disability

Does a 401(k) Withdrawal Impact SSDI?

If you receive Social Security Disability Insurance (SSDI) payments, you might be wondering if you can supplement them with some money from your retirement accounts, such as a 401(k). While withdrawing from your retirement funds won’t usually impact your disability… read more…

SmartAsset: How does neobanking work?
Checking Account

How Does Neobanking Work?

Neobanks offer internet banking services and are created by partnerships between financial tech firms and banks to offer federally insured bank accounts. Do you find yourself wondering what a neobank is and whether it’s a good option for you? We’ll… read more…

retire at 45 with 5 million

Can I Retire at 45 with $5 Million?

If you have $5 million saved and are thinking of retiring at 45, the good news is you can certainly do so. The bigger question is how you’ll need to plan your retirement around that amount and your early retirement… read more…

TaxAct vs. TurboTax

TaxAct vs. TurboTax

As you prepare for Tax Day, you might be overwhelmed by the options available for filing your taxes online. You’ve probably heard of TaxAct and TurboTax, two of the most popular tax-filing services on the market. But which is right… read more…

at what age do seniors stop paying taxes

Do Seniors Ever Stop Filing Taxes?

When you retire or reach a certain age, there might be certain things you no longer have to do. You might get to skip the commute or qualify for some great discounts. But no matter your age, you don’t get… read more…

fha mortgage insurance

What Is FHA Mortgage Insurance?

FHA mortgages and mortgage insurance are government programs intended to help first-time homebuyers and other in-need borrowers get loans to purchase homes. If you have a low credit score and can’t make a large down payment, you might be considering… read more…