A simple rule such as “contribute 10%” of your pay does not work for everyone. That may not be enough for a high-income earner, and it may be way too much for a lower earner. By the time you reach 55, you should have confidence that the amount you are saving is appropriate for your situation. If you aren’t sure how much to contribute, it’s time to get a retirement planner to help you figure it out....

The ones who are living debt-free may seem like a rarity, but they aren’t special or superhuman, nor are they necessarily wealthy. What distinguishes them from people who still have debt is their willingness to utilize the resources they have, financial or otherwise, to pay off debt or avoid it altogether. While some people may be taught as children to avoid debt, others come to the debt-free lifestyle after years of being in debt, with money-related stress....

If you are late making this payment, you can be charged a late fee and even see your interest rate increase. Late payments also go on your credit report after 30 days. Since payment history is 35% of your credit score, late payments can significantly lower your credit score, especially payments more than 90 days late. Making timely credit card payments and other debt payments is crucial to saving money and maintaining a great credit score....

How to Earn Rewards Travel credit cards all have different rewards structures, but they have one thing in common—you earn points or miles for making purchases. Knowing your card’s rewards structure is key to maximizing your rewards. Many travel credit cards pay higher rewards on travel purchases and a base rewards rate on all other purchases. For instance, a card may pay three points for every dollar you spend on travel purchases and one point for every dollar you spend on all other purchases....

You promote your business by getting the word out, and the first axiom of business promotion is that you have to do this consciously. You can’t rely on other people to do it for you, no matter how great your product or service is. The second axiom of business promotion is that like every other aspect of your business, it’s a budgeted activity. But promotion doesn’t have to be expensive....

Contribution deadlines align with the tax-filing deadline of April 15. However, the deadline was extended to June 15, 2021, for Texas, Oklahoma, and Louisiana because of the 2021 winter storm disaster areas declared by emergency authorities. That means IRA contributions were extended for taxpayers in those areas as well. The Difference Between Traditional and Roth IRAs There are two types of IRAs: traditional and Roth. Both types offer tax-deferred growth within the accounts and follow the same rules for annual contribution limits, but they differ in the ways they are treated for tax purposes....

Some of these workers are full-time freelancers; others are still holding down a 9-5 job, but doing side hustles in their free time. The proliferation of such part-time and freelance work has people talking about a new kind of labor market: The Gig Economy. If you are interested in joining the gig economy and earning money outside the context of a full-time job, you’ll have to understand the many advantages and disadvantages of this type of income generation....

But what about credit unions, which are similar to banks, but technically not FDIC-insured? In many cases, your funds are quite safe in a credit union, but you need to understand the details. Federally-insured credit unions are just as safe as FDIC-insured bank accounts. The National Credit Union Insurance Fund (NCUSIF), which is backed by the U.S. Treasury insures your funds. The National Credit Union Administration (NCUA), an agency of the U....

What Is Ibotta? Ibotta is a free mobile cash-back shopping and coupon app for most iOS and Android devices. With Ibotta, shoppers have the opportunity to earn cash back on select products by performing easy tasks, purchasing the product, then providing proof of purchase. What gives Ibotta an edge in building its popularity among couponers is that the savings gleaned via the app are in addition to the other saving strategies shoppers use, such as redeeming coupons, rewards programs, coupon stacking and matching, rebates and other money-saving apps....

Benefits of Investing in Chile There are a number of benefits to investing in Chile. It is highly regarded within the financial community as one of the strongest investment destinations in Latin America. With its significant exposure to commodities such as copper, the country has attracted a lot of foreign capital that has helped its economy grow. And, emerging minerals like lithium have helped keep the country’s resources in demand....

Advantages For Employers Here are some ways an RTW program can benefit your business: Retain Experienced Workers. Injured workers who remain at home for an extended period may become discouraged and leave the firm. You can retain valued employees by returning them to the workplace as soon as they are physically able. Reduce Turnover. By getting injured employees back work quickly, you can avoid the cost of hiring and training temporary workers or permanent replacements....

When Should You Invest in Index Funds? There is no foolproof method for predicting what types of mutual funds will perform better than others. This is especially true during short-term periods, such as one year or less. However, some conditions can make index funds a smarter choice. During a strong bull market—when stock prices are rising across all sectors and mutual fund types—active funds may lose their advantage. In a bull market, strategic buying and selling has just as much chance of losing to the major market indices as matching or beating them....

Benefits of Investing in International Stocks Investing in international stocks—also called foreign stocks, world stocks, non-U.S. stocks, global stocks, or international equities—is an essential part of building a diversified portfolio. Depending upon several factors, such as risk tolerance and time horizon, a good allocation to international stocks in a portfolio is in the range of 10% to 20%. The primary reason to invest in international stocks is to gain access to markets outside of the U....

Yet, there still has not been widespread adoption of enterprise blockchain use in the real world nor at scale, and regulators remain unsure of how to treat these implementations. Time will tell whether blockchain can break free of its decentralized niche and into the mainstream commercial world. What Is Blockchain? Blockchain is a distributed ledger technology that facilitates trust between trading partners. If you’re familiar with Bitcoin, blockchain is the underlying technology that makes it possible to transfer currency and have confidence that transactions are successfully completed....

While rent, mortgage payments, and groceries are necessary, discretionary expenses are those you incur voluntarily such as dining out or cable television. Your discretionary spending budget is only as big as the income you have available to fund it. This budget worksheet can help you examine the details of how much money you have available to spend at your discretion. How to Use This Worksheet To figure out how much discretionary money you have, it helps to use a worksheet to list all of your expenses and income....

Sellers make the final decision as to whether an early possession makes sense for their transaction, but most listing agents discourage such situations, because too many things can go wrong. Mortgage Underwriting Problems The sale might end up falling through for some reason, often due to a mortgage underwriting problem. The homebuyers’ loan might not be approved even after a thorough review of their documents. Ideally, the former buyers would voluntarily vacate, but some agents have found out the hard way that homeowners often have to take legal action to remove them from the premises after a sale falls through....

In most cases, home equity loans have no restrictions on how you can use the money. However, some uses for home equity loans may be more ideal for your situation than others. One way you can use the funds is to invest in stocks. But before you do, consider the pros and cons of relying on your home as collateral. How Can You Use Home Equity Loan Funds? Lenders generally allow home equity loan funds to be used for any purpose....

If you don’t have enough cash for a down payment, you may wonder whether you can get a loan. Let’s review your options for getting a home loan for a down payment as well as detail the pros and cons of using one. How to Finance a Down Payment on a House There are a number of ways you may be able to finance your down payment, from personal loans to grants....

Bankruptcy and Retirement Income Here’s how federal bankruptcy law impacts common types of retirement income. States also have their own bankruptcy laws, and in some states, you can choose whether to use federal or state exemptions. In other states, you must use the state exemptions. States generally follow federal bankruptcy laws regarding retirement income, but it’s best to consult a local bankruptcy attorney to discuss specifics. Social Security Social Security payments are safe in a bankruptcy case—at least until they’re deposited into your bank account....

But once you understand the different parts of a check, you’ll feel confident completing, receiving, and depositing paper checks. Why You Should Understand a Check’s Format In addition to being necessary for writing a check yourself, understanding the parts of a check helps you: Reference the diagrams of a completed check at the top of this story and a blank check below as you read through a detailed explanation of each component....