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Sam Lipscomb

Credit Card, Savings and Retirement Expert

Sam Lipscomb is a writer for SmartAsset. His work spans a wide variety of personal finance topics with expertise including retirement, investing and savings. He is particularly well versed in credit cards. Sam has been featured in The Economist and on The Points Guy. He is a Certified Educator in Personal Finance (CEPF®). Sam graduated from Kenyon College with a degree in Economics and enjoys being a go-to resource for family and friends when it comes to personal finance. Originally from Washington, DC, Sam loves all things aviation and is a Cleveland sports fan. He currently lives in New York.

Posts by Sam Lipscomb:

by Sam Lipscomb Sep 25, 2020

A proportional tax, also known as a flat tax, is a type of tax system that levies the same tax rate on everyone, no matter their income level. This system is in contrast to the progressive or marginal tax system that exists in the U.S., which is one in which the higher your income is, the more you’re taxed. Proportional tax systems aren’t very common, though some supporters believe it can encourage people to work more. Managing your taxes should be a major part of your long-term financial plan. Talk to a local financial advisor about your plans today. Read more

by Sam Lipscomb Sep 25, 2020

Before a company has an initial public offering (IPO), it typically sets aside a handful of shares that are available for purchase. Since these shares tend to be offered in large quantities, pre-IPO investing is usually done by hedge funds, private equity firms, investment banks and other major entities. However, there are a few retail investors that are able to invest in these shares as well. Pre-IPO investments are risky, as the stock price post-IPO may be volatile. As a result, pre-IPO share prices are usually offered at a discount. Do you have general questions about investing? Speak with a local financial advisor today. Read more

by Sam Lipscomb Sep 25, 2020

A certificate of deposit, more commonly known as a CD, is a type of bank account that pays interest in exchange for the depositor leaving their funds in the account until it matures. A jumbo CD functions in the same way, though they require a higher minimum balance to open. Interest rates are usually fixed, though some accounts offer variable rates or “bump-up” features. Jumbo CDs tend to pay higher interest rates than their standard counterparts. Although you can technically withdraw your money before the maturity date, there’s typically a hefty penalty associated with doing so. Do you have questions about how to integrate a jumbo CD into your investment portfolio? Talk to a local financial advisor today. Read more

by Sam Lipscomb Sep 25, 2020

In general terms, your income is typically the money you earn from jobs that you work. But accessible income accounts for more than just your paycheck, as it includes most of the money you receive… Read more

by Sam Lipscomb Sep 25, 2020

A co-applicant is an additional person involved in the application of a loan besides the original applicant. They are equally considered alongside the applicant throughout the whole application… Read more

by Sam Lipscomb Sep 25, 2020

Life insurance rates are constantly changing, and each person’s life insurance policy is different. For instance, rates can vary by age, gender, health, employment, weight and family health history,… Read more

by Sam Lipscomb Sep 25, 2020

It’s long been said that if you check your credit score, it may experience a drop. But in reality, if you yourself are checking your score through a free website or app, you can check as many times… Read more

by Sam Lipscomb Sep 25, 2020

Errors on your credit report aren’t as uncommon as you might think. These issues, whether big or small, can negatively alter your credit score, making it harder to get approved for new lines of… Read more

by Sam Lipscomb Sep 25, 2020

A 700 credit score is often seen as the barometer for what constitutes a good credit score. But while each credit scoring agency has slightly different criteria for determining where scores rank, a… Read more

by Sam Lipscomb Sep 25, 2020

A bankruptcy can seriously hurt your credit score, making it difficult to get approved for new lines of credit and lower loan interest rates. While bankruptcies are undoubtedly harmful, they won’t… Read more

by Sam Lipscomb Sep 25, 2020

A tender offer allows a company or entity to do a public takeover of a business by buying many of its shareholders’ stock shares. Tender offers are typically public, as they literally ask… Read more

by Sam Lipscomb Sep 25, 2020

The rule of 70 is used to determine about how long it will take an investment to double in size while growing at a consistent rate of return. The rule is far from exact, but it can nonetheless help… Read more

by Sam Lipscomb Sep 25, 2020

The Federal Deposit Insurance Corporation, otherwise known as the FDIC, is a federal regulatory body in the U.S. Its primary purpose is to insure deposits made at banks and other financial… Read more

by Sam Lipscomb Sep 25, 2020

Having a good credit score is beneficial, and an excellent score is even better. But what if you could achieve the perfect credit score? To attain the highest credit score there is, you’ll need to… Read more

by Sam Lipscomb Sep 25, 2020

Having good credit is an important factor in whether you’ll be approved for new lines of credit or lower interest rates on loans. Credit scoring agencies use many different factors from your credit… Read more

by Sam Lipscomb Sep 20, 2020

Credit is one of the most important aspects of a person’s financial life. Your credit score affects your ability to get loans, credit cards, apartments and more. There are several components to… Read more

by Sam Lipscomb Sep 20, 2020

Bankruptcy is a way for an individual or business to have their debts legally discharged in the event that they cannot pay them. For example, if your home is being foreclosed upon or your debts have… Read more

by Sam Lipscomb Sep 18, 2020

A non-recourse loan is a type of debt that’s secured by collateral, such as an individual’s car, house or another typically illiquid asset. By securing a non-recourse loan, the lender won’t have the… Read more

by Sam Lipscomb Sep 18, 2020

The New York Stock Exchange, or NYSE for short, is the world’s largest and most famous stock exchange. The total market capitalization of all of its listed securities totals over $25 trillion. The… Read more

by Sam Lipscomb Sep 18, 2020

If you’re a contractor, freelancer or another type of self-employed individual, you’ll likely need to file IRS Form 1099-MISC. This form is used to report non-employee compensation, and it is part of… Read more

by Sam Lipscomb Sep 18, 2020

A credit score of 800 or above typically falls into the “excellent” category. There are many benefits associated with this tier of credit score. For example, an excellent credit score means you’re… Read more

by Sam Lipscomb Sep 14, 2020

When it comes to your personal finances, knowing about your credit profile is extremely important. It can determine whether you’re accepted for a home loan, an auto loan, a credit card, rentals,… Read more

by Sam Lipscomb Jun 10, 2020

Since the coronavirus pandemic went global in early 2020, travel and tourism have been heavily impacted. Millions of people have seen their trips canceled by airlines and tour companies, with… Read more

by Sam Lipscomb Jun 08, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes over $2 trillion in federal funds to help address the economic fallout from the coronavirus global pandemic. The bill includes… Read more

by Sam Lipscomb May 18, 2020

Moderna, a Cambridge, Massachusetts-based biotechnology company, announced that one of its COVID-19 vaccine trials has seen promising results. The vaccine has only been tested on a handful of… Read more