What Is an Informational Interview? This type of interview is conducted to collect information about a job, career field, industry, or company. It is not a job interview. Instead, it’s an opportunity to speak with a person working in a field you’d like to know more about. Through the conversation, you can (hopefully) discover what a person’s job is like, what they do, what responsibilities they have, and what it’s like to work in their job at their company....

It’s a valuable proposition, but every sign-up bonus is different, and there are catches. Here’s what you should know about how these bonuses work before you choose a new card. How You Earn Them You earn sign-up bonuses by spending a minimum amount within a certain period, usually the first three months, after you’re issued the card. Some cards offer an extra sign-up bonus for spending even more in the first six months or year....

The U.S. prime rate, published daily by the Wall Street Journal, is based on the interest rates that 10 of the nation’s largest banks charge their most creditworthy customers for borrowed money. The prime rate is an important indicator for national interest rates and is an estimate of the lowest qualifiable rate a person or business can get on a loan or line of credit. In order to receive the prime rate, you must have an excellent credit score....

Where to Use Debit Cards You can use debit cards very much like a plain old credit card. Many retailers will allow you to use a debit card at checkout just like a credit card. You just swipe it and you’re done. However, sometimes you have to let the retailer know you’re using a debit card instead of credit. Although debit cards can be used almost anywhere, think before you swipe....

Unfortunately, only 22% of initial benefits applications are approved. To better your chances, we will review eligibility guidelines, ways to file, how to build your case, and other vital pieces of the Social Security disability benefits process. Tip 1: Know If You Are Eligible for Social Security Disability The quickest way to find out if you might be eligible for benefits is to complete Social Security Administration’s (SSA) Benefits Eligibility Screening Tool (BEST) questionnaire....

To better understand how low interest rates affect small businesses—and how to make the most of them—we’ll delve into what these rates actually mean, their direct impact on businesses, and what happens if interest rates start rising. What Do Low Interest Rates Mean? An interest rate is an amount a borrower is charged by a lender for access to capital, and the Federal Reserve (Fed) affects the interest rate by setting the federal funds rate....

The best way to understand sequence risk is with an example. Learn more about how it works. Accumulation: No Additions, No Sequence-of-Returns Risk Suppose you invested $100,000 in the S&P 500 Index in 1996 and decided to leave it in for 10 years. These are the index returns year by year: If Returns Occur in the Opposite Order Now, if those returns had played out in the opposite order, you still would have ended up with the same amount of money: $238,673....

To fully explain filial responsibility, let’s take a closer look at an example, as well as relevant laws at both the federal and state levels. We’ll also consider how filial responsibility has come into play during the COVID-19 pandemic. What Is Filial Responsibility? Many states have laws that require adult children to be financially responsible for their parents’ necessities of life when the parents don’t have the means to pay for them on their own....

Where to Get Free Checking There are two ways to get free checking these days: Of course, #1 takes the least amount of effort—after you’ve opened the account. But finding free accounts can be a challenge. Where do you stand the best chance of finding a free account? Online banks, small banks, and credit unions are your best bet. Keep in mind that “free” only refers to standard services. If you do certain things (request a wire transfer, bounce checks, and so on) you’ll have to pay fees....

The MFDRA was first passed by Congress in 2007 to provide tax relief for homeowners who had lost their properties. The law allowed individuals to exclude certain canceled mortgage debt from their taxable income before it lapsed temporarily in 2018 and 2019. It’s now available again. The Mortgage Forgiveness Debt Relief Act The MFDRA enabled taxpayers to exclude from their incomes certain mortgage debt that was canceled by lenders. A temporary measure at first (the law originally expired on Dec....

Asset protection is a complicated process involving a deep analysis of your long-term financial needs and estate planning goals. You must strategically position and re-position your property in order to shield it from creditors’ claims, and that begins with an understanding of what different types of living trusts can do. Revocable Living Trusts As the name suggests, a revocable living trust is one that the creator—referred to as the “grantor” or “trustmaker” in legal terms—can revoke or undo at any time....

Figuring out health insurance after leaving a job can be frustrating and confusing, but you can make the transition from your old coverage as smooth as possible by being prepared. Learn when your health coverage ends and what options you have after it expires. When Does Health Insurance Expire After Leaving a Job? Although there are no set requirements, most employer-sponsored health insurance ends on the day you stop working or at the end of the month in which you work your last day....

How Long Does It Take To Refinance a House? The timeline for refinancing your house varies according to the lender. Depending on your bank, it can take anywhere from 30 to 120 days to complete the refinance. Different factors can also affect the length of time it’ll take, including loan complexity, whether you’ve got a second mortgage on the house, and how long it takes you to get your documents together....

Average Cost of Tuition Typical costs vary widely by type of institution. According to the College Board, the average cost of college tuition and fees (which may include the library, campus transportation, student government, and athletic facilities) for the 2021-2022 school year was $38,070 at private colleges, $10,740 for state residents at public colleges, and $27,560 for out-of-state residents attending public universities. These numbers do not include housing, meals, textbooks, or school supplies which could easily tack on another $10,000 to $18,000 a year....

For tax year 2022, you can generally contribute up to $6,000 annually if you are under the age of 50 and $7,000 if you are 50 or older—unless you’re at certain income limits, filing limitations, or contribute to another type of IRA. But if you’re wondering how much you should contribute to your Roth IRA, keep reading for more insight and expert advice. How Much Should You Put in Your Roth IRA?...

Children under 18 can gain real-world financial experience with a savings account, but you need to consider age limitations, money goals, and account types before going to the bank. As you understand the how and why behind youth accounts, you’ll be prepared to support the financial success of your children. Age Requirements for Savings Accounts Opening a savings account with a bank means you enter into a contractual agreement with the institution....

Lisette Smith, a certified financial planner with The Advisory Group, said in an email to The Balance that when estate planning, it’s important for siblings to talk to their parents about their goals for their elder years and the resources available as early as possible. That’s especially true if you believe it may affect your own financial planning. “There is no shortcut to having these discussions, which may be difficult—or at least awkward—in most family dynamics,” Smith said....

Bona Fide Residence Test You’re considered a bona fide resident of a foreign country if you reside in that country for an uninterrupted period that includes an entire tax year. Because a tax year is January 1 through December 31, the qualifying period for the bona fide residence test must include at least one full calendar year. You’re not considered a bona fide resident of a foreign country if you’ve submitted a statement to that country indicating that you’re not a resident, and the government there has determined that you’re not subject to it tax laws....

General Overview A balance sheet will not show the risks that come with a large inventory. Instead, it will only state how much inventory value a business has. The information you need to find the risks can be found in, among other things, a firm’s annual report and the footnotes of balance sheets. For example, Target states in its 2018 annual report: Investors would need to look through such reports to find the information sought....

College professors, particularly those who have taught you in multiple classes, can provide powerful recommendations for employment and graduate school. After all, they have observed you analyze, write, articulate your views, and present to groups. Many professors have an abundance of contacts in the professional world, including ex-students and consulting clients, and they usually have a high degree of credibility with these contacts. Review advice on who to ask for a reference, how to ask, what to include in your request, and examples of reference request letters and emails....