Personal loan balances are growing at a fast rate. According to TransUnion data, unsecured personal loan balances reached a record high of $156 billion in 2019. It’s not just the loan amounts that are growing. The number of unsecured personal loans has grown from 16.9 million in 2016 to 22.5 million in 2019. As the CEO […]
Saving for college is one of the most important financial goals for students, parents, and even grandparents. And for good reason. In 2019-2020, the average cost for in-state tuition, fees, and room and board at public universities was $21,950, according to the College Board. If you wanted to attend a private university, the average cost […]
Alternative investments can play an essential role in anyone’s portfolio, but for the average investor, they may seem too complex. Including alternative investments is a great way to increase diversification in your portfolio, but first you must understand what they are. Types of alternative investments Alternative investments are anything that doesn’t fit in the traditional […]
Hiring a financial advisor can be one of the best investments you make. It can also be a colossal waste of time. Financial advisors can help you make smart investment choices, but without trust, the best financial planning is useless. How do you a financial advisor you can trust? This guide will help you do […]
The CARES Act was an unprecedented stimulus package that provided wide-ranging financial assistance, from stimulus checks to funds for small businesses. One provision that hasn’t been discussed as much is the increased access to funds earmarked for retirement. The CARES Act waives some penalties for withdrawing from a 401(k) or other defined contribution plan or […]
Robo-advisors are on the rise. It’s not surprising: they’re a convenient, one-stop solution for investing goals. If you’re looking to start investing, the right robo-advisor can help you maximize your gains and minimize fees. But with so many to choose from, how do you know which robo-advisor is right for you? One way to narrow […]
Did you receive a Schedule D (Form 1040) in the mail this tax season? If so, you must have sold assets in the past year. If you made a profit on your sale, you’ll have to pay taxes on it; and if you lost money, that loss can reduce your tax liability. But regardless of […]
Robo-advisors have become an extremely popular investment tool for Millennials and other investors. Rather than requiring you to make decisions like a passive investment strategy or pay high fees as you would with an active management strategy, robo-advisors enlist the help of technology to manage your portfolio. And because there’s not a lot of human […]
Once upon a time, the word ‘retire’ was associated with becoming inactive and getting old. Today, retiring no longer carries those connotations. Instead, having the drive and discipline to save enough to retire early is seen as a sign of success. We explored the lives of 10 people who were retired before 40 and are […]
“Am I rich?” Odds are good that you answered “no” to that question, regardless of how much money you have. According to a report by investment bank UBS, only 28% of people with $1 million to $5 million in assets considered themselves wealthy. Even when you ask people with more than $5 million in assets, only 3 in 5 […]
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