On the “sooner rather than later” end of the spectrum, inflation will likely cool to 2% by the end of 2023, and go below that level by early 2024, James Knightley, chief international economist at ING, said in an email. Meanwhile, Conrad DeQuadros, senior economic advisor at Brean Capital, said 2% inflation isn’t likely to happen by the end of 2024 (as far as their forecasts go out). At Wells Fargo Securities, economist Michael Pugliese said their forecast for inflation, as measured by PCE (running at 6....

Banks are acquired by other banks for a variety of reasons, including a desire to scale a business, owners retiring, and cost efficiency. Just because your bank is being acquired doesn’t mean you need to jump ship or find another bank. Often, the process goes very smoothly. If you’re dealing with a bank acquisition, here are some things you should know in order to make the process of transferring to a new bank as smooth as possible....

Who Is Bank of America Best For? If you’re looking for a bank that’s conveniently located wherever you want to be within the U.S., it’s hard to beat Bank of America. Only Chase Bank and Wells Fargo offer more branches nationwide. It may also suit you well if: You want to bank with a large, well-known institutionYou don’t mind navigating a complex system of rulesYou’re aware of the many fees and how to dodge themYou’re not as concerned with earning a good rate on your savingsYou want a bank that offers a wide range of financial products...

Then there are the horror stories. The father and son who end up not speaking for years. The daughter who leaves in a huff and joins a rival business. The parents who can’t help criticizing their children. The assumptions are the most difficult part. Sure, you have decided this business relationship will be different. But you wonder what you should to make sure you can work together in a business without destroying that relationship....

Both expenses come out of your pocket up front (unless you finance the points), so the immediate impact on your budget is identical. Likewise, both points and a down payment can reduce your required monthly mortgage payment. However, over the long term, they impact your finances in different ways. As a quick refresher, let’s discuss the difference between points and a down payment. Then, we’ll evaluate when one option might be better than another....

As a result, it’s easy to feel like your money controls you instead of you effectively managing your money. If you fall into this category, you may benefit from learning some budgeting basics, including how to use technology, choose a budget system that works for you, and give up bad financial habits. Find a Budgeting System That Works for You Kate Mielitz, special programs manager at the Association for Financial Counseling and Planning Education, suggests finding a budgeting system right for you....

An estimated 56% of teens have talked about finances with their parents, according to a 2021 Citizens Bank Junior Achievement Survey. However, only a third of the class of 2020 high school graduates said being financially independent of their parents within 10 years of graduation is a financial goal. Budgeting can help your teen reach financial independence with ease. Use this guide surrounding budgeting to get started if you’re beginning to have those important money talks with your kids....

Trevor Williams / Getty Images Learn the two different kinds of burn rates, how they’re calculated, and why it matters to both businesses and investors. What Is Burn Rate? The burn rate tells companies how much money they’re spending and how quickly they’re spending it. The term is usually used in the context of a new company that’s trying to ramp up its operations and become profitable. The burn rate allows growing companies to set realistic timelines because it tells them exactly how long they have before they run out of money....

Buying When Investors Are Fearful While you have probably heard this phrase before, it has the power to drive an important point home: If you buy stocks when investors are most worried, during situations when shareholders are dumping stock primarily because they are driven by fear—you can position yourself uniquely to pick up those same shares for a substantially undervalued price. The Fear Will Fade Just like everything over time, the fear in the market will fade....

Here’s why: The minimum payment on your credit card is determined by taking a percentage of your balance and charging you that percentage each month. This amount is a very small portion of your balance, usually between 2-5%. This size payment usually only covers the interest you are paying on your bill each month, so it never actually makes a dent in your principal balance. Using this method, it will take years to pay off your credit card—if you even pay it off at all....

But you must follow some rules to correctly roll over your after-tax 401(k) funds correctly. Here are some common concerns and questions about how this type of rollover works. IRS Rules About Rolling After-Tax Funds to a Roth The financial planning and tax community wasn’t sure for many years whether after-tax funds in a company plan could legally be rolled into a Roth IRA. An IRS ruling clarified this in September 2014....

People typically opt for a HELOC instead of a traditional loan because a HELOC offers a comparatively lower interest rate. With a HELOC, you can borrow as much as you need—up to your credit limit—whenever you need it, making it a flexible and on-demand source of money. You can get a HELOC on a second home or investment property if you don’t want to put up your primary residence as collateral....

Canada is the 10th wealthiest country in the world. It’s one of the few net exporters of energy with its large mining and energy industries. Its high standard of living and per capita income make it very stable politically. The Most Popular Canadian ETFs Canadian ETFs have grown in popularity given the country’s stability, and due to its sizable energy and commodities industries. But the occasional weakness in commodity prices has led to sell-offs....

Do You Need an Insurance Agent? Only you can decide whether the benefit of having an agent whom you can call directly, email, or visit with in person is worth more than the ease of buying a policy online. Buying insurance is key to your financial well-being. Knowing the coverage at the time of purchase, and as your needs change, is a crucial part of ensuring that you’ve limited your risk exposure....

What Is Casualty Insurance? Casualty insurance protects you when you’re liable for someone getting hurt or their belongings getting damaged. The circumstances in which you’re covered depend on the specifics of your policy. For instance, a car insurance policy might pay to repair a neighbor’s fence after you drove into it. You’ll often see casualty insurance lumped together with property insurance and referred to as “property and casualty insurance” or “P&C insurance....

Still, it’s wise to educate yourself on closing costs and learn how to keep charges to a minimum. Things You Control, and Things You Don’t Closing costs include payments to a variety of people and organizations. Some of those fees depend on the decisions you make—like which lender to work with. Other costs are beyond your control, and you’ll need to pay them regardless of where you obtain financing. For example, your county might charge fees and taxes to record your deed....

In addition, the full amount of your contributions can be deducted from your income for state tax purposes, and you have the option of directly depositing your state tax refund into your CollegeInvest account. Through these tax-deductible plans, family members and even friends can contribute to a child’s college fund and get a tax break for doing so. Since January 1, 2018, 529 accounts may also be used for expenses at an elementary or high school, but Colorado’s CollegeInvest accounts can be used only for higher education....

How Concurrent Causation Applies Concurrent causation may apply when two or more events have contributed to a loss and one of them is an insured peril. The events may occur simultaneously or one after the other.  For example, suppose a commercial building is damaged by both wind and flooding from heavy rain. The building is insured under a standard commercial property policy. The loss is the result of two causes: wind (a covered peril) and flooding (an excluded peril)....

Democrats often look at the American Dream as the right to education, a good job, decent housing, and health care. President Franklin D. Roosevelt (FDR) first outlined the Economic Bill of Rights in his 1944 State of the Union address. President Harry Truman’s Fair Deal proposed specific legislation to support this expanded vision of this dream. Democrats made health care more accessible to all in 2010 with the Affordable Care Act (ACA)....

Pet insurance can help make costs more manageable. But preexisting conditions may be excluded from coverage. We talk below about what preexisting conditions are, whether your insurer covers them, and alternatives if it doesn’t. What Are Preexisting Conditions in Pets? In general, preexisting conditions in pets are any conditions your pet experienced, whether diagnosed or undiagnosed, before enrolling in pet insurance or during a policy’s initial waiting period. (A waiting period of two weeks is typical for accident and illness insurance....