Learn more about what is considered age discrimination and what may happen if it’s found in the workplace. What Is Age Discrimination? Age discrimination is the unfavorable treatment of an employee due to their age. People who are age 40 and older are protected from employment discrimination based on age by the Age Discrimination in Employment Act (ADEA) of 1967. The ADEA’s protections apply to both employees and to people who are applying for a job....
To use the calculator to see how amortization works for your loan, enter the following information: Loan amount: How much you’re borrowing.Loan term: How long you’ll take to pay off the loan. Interest rate: The percentage of the loan amount a lender charges you for borrowing money. Based on what you enter, you’ll see the following results: Monthly payment: This is the total amount you’ll send to the lender each month....
When deciding whether to invest in the stock of a company, examining the information in a balance sheet can help you get a sense of its prospects and pitfalls. But it’s important to understand what a balance sheet does—and doesn’t—show about a company so that you can put the data into context alongside figures from other financial documents and make smarter investment decisions. Parts of a Balance Sheet The typical balance sheet has a two-column layout, with the assets on the left and the liabilities and owners’ equity on the right....
By learning more about the types of bonds, bond mutual funds, and bond exchange-traded funds (ETFs), investors may be able to benefit when stock prices are falling. Bonds and Stock Bear Markets A bear market means that stock prices are declining and market sentiment is pessimistic. Bonds can be a good investment during a bear market because their prices generally rise when stock prices fall. The primary reason for this inverse relationship is that bonds, especially U....
The History of Asset Management Accounts Following the stock market crash of 1929, Congress passed the Glass-Steagall Act. The legislation banned the consolidation of banking and securities firms in order to better protect the public in the event of another major catastrophic financial event. The result was that investors had to maintain separate accounts at different institutions. In 1999, then-President Bill Clinton signed the Gramm-Leach-Bliley Act into law. It effectively overrode the Glass-Steagall Act and permitted the creation of financial services firms that offered banking, brokerage, and insurance services to customers....
Working as an Independent Contractor An independent contractor is someone who works for themself, in a trade, business, or profession, offering services to individuals or businesses. This person is not an employee. Working for others as an independent contractor has benefits and drawbacks. The benefits: You can build a portfolio of clients or customers, and that way even if you lose one or two of them, you’ll still have other clients to fall back on....
There are many reasons to use a 401(k) as a savings tool. It allows you to divert some of your earnings to a special account and avoid having it taxed along with the rest of your income. And many employers offer a matching program. They’ll also deposit money into your account to match the money you put in, up to a certain amount. These features alone will help your savings grow at a faster rate than if you were to use a standard savings account....
Learn more about the best ETFs for your Roth IRA. What Are the Best ETFs for a Roth IRA? You probably have more than one investment account if you’re saving for retirement. Popular and common account types include IRAs, 401(k)s, and individual or joint brokerage accounts. These accounts receive a different tax treatment, so they can each be used for different financial goals. The best funds for investing in an IRA or a 401(k) are long-term investments, such as stock mutual funds and ETFs....
You could stick it under the mattress but you have some better options. If you’re searching for the best places to keep your emergency fund, consider these four savings vehicles. High-Yield Savings Accounts Several things make the high-yield savings account different from a traditional savings account. First, high-yield savings accounts tend to offer a higher annual percentage yield or APY on deposits, as their name suggests. What that means for you is that your money earns more interest over time....
Investing in a water ETF can be an easy way to gain exposure to the water industry with one fund. A typical water ETF invests in water utilities and companies involved in water purification, sewer and pipeline construction, and equipment. The Benefits of Investing in Water ETFs Here are the main benefits of investing in water ETFs: Low expenses: Similar to index mutual funds, many ETFs are passively managed. This means that the expense ratios are low compared to actively managed funds....
In extending the pause, which allows borrowers with federal student loans to skip their monthly payments without penalty, President Joe Biden cited recent research from the New York Federal Reserve showing that many borrowers would have trouble resuming payments. It was the sixth extension of the pause, which was first put in place more than two years ago when the pandemic hit. “That additional time will assist borrowers in achieving greater financial security and support the Department of Education’s efforts to continue improving student loan programs,” Biden said in a statement....
What Are Municipal Bonds? A quick refresher on municipal bonds (“munis”) and how they work is in order before doing the math. Munis are securities issued by state and local governments to raise money. When you buy a bond, you lend money to that entity with the promise that it will pay you back with interest. The interest usually takes the form of payments that are a percentage of the amount you loaned....
Does Your Mortgage Lender Accept Credit Cards? Whether you can pay your mortgage with your credit card depends on your lender’s payment acceptance rules. Some only allow you to make your mortgage payment through your checking account. Cost of Paying Your Mortgage With a Credit Card Some lenders who accept credit card payments charge a transaction fee to process the payment. You see, each time you swipe your credit card, the business accepting that payment has to pay a fee to the credit card issuer, the processing network, and other companies involved in processing the transaction....
“This is an exciting time to refinance, and most people will benefit if they’re seeking to reduce their payment, pay off debt, make home improvements, or even fund an emergency fund,” Diana Rice-Wilkerson, a senior loan officer with the Fairway Independent Mortgage Corp., told The Balance by email. And having a less-than-perfect credit score should not prevent exploring your refinancing goals." How Credit Score Impacts Refinancing Your credit score can affect the rates a lender might offer you on a mortgage refinance....
Sincerely, Sue Dear Sue, It’s great that you are already interested in making plans for your children’s financial future, even at this young age. Just to clarify, a 401(k) is an employee-sponsored retirement account. Even though 401(k) plans get to set their own age threshold for contribution (typically 21 years), since your children are only in elementary school, it seems unlikely that they are employees of a company. With that said, let’s say you actually opened an individual retirement account (IRA) for your children to contribute their earned income from work around the neighborhood, whether it’s selling lemonade or mowing lawns....
It is possible to add the costs of furniture to your new mortgage, but is that the right way to go? Learn how to borrow extra on your mortgage if you need to, as well as other financing options. How to Qualify to Borrow Extra on Your Mortgage It is possible to borrow extra on your mortgage to cover expenses such as furniture, renovations, or closing costs. How easy it will be to bump up the amount you borrow will depend on your income and downpayment amount....
How Much Is the Child and Dependent Care Credit? The Child and Dependent Care Tax Credit (CDCTC) is a tax credit of up to 35% of what you pay someone to take care of your children or adult dependents who can’t provide their own care. Any children whose care you claim must have been under the age of 13 at the time the care was provided. The rate used to calculate the credit is 35% if your adjusted gross income (AGI) is at least $15,000 but less than $45,000 as of 2022....
Converting an entire traditional IRA to a Roth IRA is possible. But it isn’t only an all-or-nothing undertaking. You can convert just a portion of your balance to a Roth IRA if you want to. Find out more about what you need to know about partial conversions. Roth Conversions Aren’t All-or-Nothing There are no rules stating that converting a traditional IRA to a Roth IRA is an all-or-nothing prospect. You are permitted to convert only a portion of your traditional IRA balance if you want, though you also can convert the full balance, if desired....
Eva-Katalin / Getty Images While it’s not exactly against the law to buy personal items using your business card, it’s probably not a good idea. Let’s take a look at why. Business Credit Cards vs. Personal Credit Cards The differences between business and personal credit cards can be broken down pretty simply: Personal credit cards are designed for consumer spending, including your groceries, movie theater tickets, and gas. Meanwhile, a business credit card is often used for purchases related to business operations such as inventory, supplies, travel, business services, and business entertainment, said John Cabell, Director, Banking and Payment Intelligence, J....
Car price: This is the total amount you intend to finance, including the base cost of the vehicle, any upgrades, warranties, or other packages, plus taxes and fees.Down payment: This is the amount of cash you’ll use to buy the car—you’ll have to finance the difference between your down payment and the car price. If you’re trading in a car, put the value of that vehicle here.Loan term: This is how long it takes to pay off the loan....
