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Rebecca Lake

Home Buying, Retirement and Investing Expert

Rebecca Lake is a retirement, investing and estate planning expert who has been writing about personal finance for a decade. Her expertise in the finance niche also extends to home buying, credit cards, banking and small business. She's worked directly with several major financial and insurance brands, including Citibank, Discover and AIG and her writing has appeared online at U.S. News and World Report, CreditCards.com and Investopedia. Rebecca is a graduate of the University of South Carolina and she also attended Charleston Southern University as a graduate student. Originally from central Virginia, she now lives on the North Carolina coast along with her two children.

Posts by Rebecca Lake:

by Rebecca Lake May 24, 2022

A Roth individual retirement account can allow you to save for retirement while enjoying some tax benefits. Getting divorced can affect your savings strategy if you plan to withdraw some of your IRA money or you’re transferring money from it to your former spouse. It’s important to understand how the Roth IRA 5-year rule might affect you if you’re soon to be divorced. You may benefit from speaking with a financial advisor who might be able to help you create a financial plan in preparation for the future. Read more

by Rebecca Lake May 24, 2022

Getting divorced can raise some important financial questions, including how to handle the division of retirement assets. If you and your soon-to-be former spouse have individual retirement accounts you might be wondering how to split an IRA in divorce equitably or whether you even need to. The division of those assets can depend on whether the accounts are considered marital or separate property and how property is divided in your state. Consider speaking with a financial advisor to help navigate you through this potentially complicated situation. Read more

by Rebecca Lake May 24, 2022

If you contribute to a tax-advantaged retirement account at work or a traditional IRA, Required Minimum Distributions (RMDs) are something you’ll need to factor into your financial plan. These distributions are minimum amounts you’re required to withdraw from your retirement accounts once you reach age 72. You might be wondering whether you have to take RMD if still working. The answer is usually yes, though there are some exceptions. For a full understanding of how this rule impacts your personal situation, you could speak with a financial advisor. Read more

by Rebecca Lake May 20, 2022

Reverse mortgages are designed to help eligible homeowners turn their home equity into income for retirement. Unlike a home equity line or line of credit (HELOC), a reverse mortgage doesn’t require… Read more

by Rebecca Lake May 19, 2022

The Thrift Savings Plan (TSP) is designed to help federal employees and military service members save for retirement on a tax-advantaged basis. If you decide to leave federal employment, one thing… Read more

by Rebecca Lake May 19, 2022

In place of a 401(k) plan, you may have the option to save for retirement in a 403(b) plan. Also known as a tax-deferred annuity or TSA, 403(b) plans are designed for employees of certain public… Read more

by Rebecca Lake May 11, 2022

A reverse mortgage can provide a stream of consistent income for retirement. This type of financial arrangement allows eligible homeowners to convert their equity into income. Unlike a home equity… Read more

by Rebecca Lake May 11, 2022

Opening a 529 college savings account can be a smart move if you’d like to save for college on a tax-advantaged basis. One thing to consider when opening a 529 plan is whether it should be a… Read more

by Rebecca Lake May 11, 2022

Opening an individual retirement accounts (IRA) can help you build wealth for the future while enjoying some tax breaks. One thing you’ll need to contribute to an IRA is earned income. The IRS… Read more

by Rebecca Lake May 06, 2022

Hard money loans are a type of short-term mortgage loan that’s secured by a property. They can also be referred to as bridge loans. You might consider a hard money loan if you’re interested in… Read more

by Rebecca Lake May 05, 2022

Getting the best rate on a mortgage matters because it can determine how affordable your monthly payments are and how much interest you’ll pay over the life of the loan. Low rates are a boon for… Read more

by Rebecca Lake May 05, 2022

A mortgage modification can help you get better terms on your home loan if you’re struggling to make payments. The Flex Modification program is designed to help homeowners who have mortgages that are… Read more

by Rebecca Lake May 05, 2022

Choosing the right budgeting system can make it easier to stick to a monthly spending plan. The envelope saving method, also referred to as the cash envelope method or cash envelope budgeting, can… Read more

by Rebecca Lake Apr 29, 2022

An annuity can provide a steady stream of income for retirement. This type of insurance contract allows you to pay a premium up front, then receive payments from the annuity company at a later date.… Read more

by Rebecca Lake Apr 29, 2022

Health savings accounts (HSAs) allow you to save money for healthcare expenses while enjoying some tax breaks. This type of tax-advantaged account is associated with high deductible health plans … Read more

by Rebecca Lake Apr 28, 2022

A health savings account or HSA offers a tax-advantaged way to save for healthcare expenses. You might have an HSA if you’re enrolled in a high deductible health plan (HDHP). These accounts can’t be… Read more

by Rebecca Lake Apr 19, 2022

If you own property or real estate, you might consider passing it along to your heirs when you pass away. But you may not want to give up any of your rights to the property during your lifetime.… Read more

by Rebecca Lake Apr 19, 2022

There are a number of factors that can influence your decision to buy stocks and when you decide to sell them. Your average stock holding period can depend on your overall strategy. If you favor a… Read more

by Rebecca Lake Apr 19, 2022

Investing in stocks can help you diversify your portfolio and build wealth. But what happens to stocks when you die? Stocks and other investments become part of your estate when you pass away. Who is… Read more

by Rebecca Lake Apr 13, 2022

Choosing the right asset allocation matters for managing portfolio risk and reaching investment goals. One of the simplest strategies for setting asset allocation is to use a percentage split, such… Read more

by Rebecca Lake Apr 13, 2022

Owe back taxes? There are different reasons why you may not have filed your tax return on time. Regardless of what caused you to fall behind, it’s important to get caught up as soon as possible in… Read more

by Rebecca Lake Apr 13, 2022

Selling an investment property at a loss may not be ideal but it may be necessary if you need cash or you simply no longer wish to own the property. Before selling rental properties or other… Read more

by Rebecca Lake Apr 11, 2022

Annuities can provide lifetime income for retirees and they can continue paying out after the purchaser passes away. If you’re married, for example, you may name your spouse as a beneficiary. Or if… Read more

by Rebecca Lake Apr 11, 2022

Owning a home can yield some benefits at tax time if you’re able to deduct mortgage interest. If you paid interest on a mortgage loan, your lender should provide you with a Form 1098 Mortgage… Read more

by Rebecca Lake Apr 06, 2022

Deciding when to time your retirement plan withdrawals matters for determining how long your money will last and what you’ll pay in taxes for those distributions. If you have a 401(k) at work, you… Read more