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Posts by Jeff White:
A debit card is a physical payment card that is used to electronically access the money you have in your bank account to make purchases or transfer money. Debit cards can be used at point-of-sale terminals or online to transfer money from your checking account to the company or to the person you’re transferring money to. Unlike a credit card, your debit card will immediately transfer money from your active checking account and cannot typically be used to make a purchase if your bank account doesn’t have the required available funds. Here is what you need to know about your debit card. Consider working with a financial advisor as you manage budgeting and spending. Read more
Approximately 80% of all Americans aged 60 and older are homeowners, and housing wealth accounts for about 48% of the median wealth of that group. As retirees near large cities, and strong housing markets, start retiring, they realize they can unlock this wealth by selling their home and relocating to a more affordable area. This retire-and-relocate strategy allowed homeowners to unlock a median figure of $99,019 from their homes in 2019 and the amount went up to $347,000 for the top 10% of homeowners who relocated to less expensive housing markets. Here’s how it works and the pros of cons of relying on this strategy for your retirement. Consider working with a financial advisor to help you with your retirement needs. Read more
As we progress through the 2023 tax season, many Americans have their eyes on a potential tax refund. But getting money back from the government can actually be a double-edged sword. Earning a large tax refund may mean that you gave Uncle Sam an interest-free loan throughout the course of the year instead of putting that money to work for you in other ways. Still, the majority of people who file a U.S. tax return every year end up getting a refund. For the 2021 tax year, which involved tax returns filed in 2022, U.S. individual taxpayers logged an average federal refund of $1,798. Read more
Empower, one of the leading providers of financial services, has officially announced its intention to join an auto-portability network that was founded in the fall of 2022. It joins other industry… Read more
Vanguard has released its January 2023 investment and economic forecasts, and there are some interesting projections that all investors should consider. The forecast predicts faster economic growth… Read more
A common number that people generally seek to save is $1 million. It’s a good start to long-term retirement and is a threshold that people view favorably as they seek to reach their financial goals.… Read more
When you earn interest income on your investments or other financial endeavors, then you’ll likely need to pay taxes on all or part of that income. Earned interest is considered the same as any other… Read more
Most people widely accept that the retirement age is 65 because this has long been the traditional age needed for Social Security benefits. However, it has increased to 66 or 67 in recent times,… Read more
Retirement is often considered a great time to travel and do things you’ve been planning for years. You save and invest for multiple decades before deciding to stop working and move into the next… Read more
Many investors don’t have enough interest-bearing accounts to live in retirement solely on the interest they earn from those investments. This means that many will need to start turning investment… Read more
Inflation can have a negative impact on normal household spending, from gas to groceries and beyond. This is why many people seek opportunities to hedge their wallets and portfolios against rising… Read more
Stubborn inflation, a sliding stock market and ongoing layoffs in recent months have many Americans on edge. However, financial stress was at a record high even before the market made headlines. Data… Read more
Investing in the stock market comes with inherent risks. In fact, one could equate investing to gambling because of the up-and-down nature of the market as a whole. However, this isn’t quite as true… Read more
Union members tend to earn more than their non-union peers. Data from the Bureau of Labor Statistics (BLS) shows that non-union workers have median weekly earnings that are only 83% of the earnings… Read more
Both brokerage and savings accounts can help you earn a return on the money you stash in them. However, there are some major differences in how they work. When comparing brokerage accounts and… Read more
Owners of a second home can rent it out from time to time and the property can still qualify as a second home. This is thanks in large part to the rise of apps like Airbnb. Fannie Mae has made this… Read more
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