It’s no secret that interest rates on everything from auto loans to home loans have risen significantly over the past year. However, there’s a bright side to rising rates: Savings accounts have also increased their interest rates, making it easier to grow your savings.
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Want your savings to earn more than they would in a traditional savings account, without taking on risk? Then you may want to look into opening a certificate. If you do your banking at a credit union, you may also know them as share certificates, or as certificates of deposit (CDs) at a bank.
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You’ve probably heard about people making money and winning big in the stock market. Some are traders and some are investors. That might sound like the same thing, but there are differences between the two. In this article, we’ll examine each and show you how to trade and invest wisely.
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A growing family, by definition, means growing financial obligations—both present and in the future. Raising children can increase your insurance needs and heightens the urgency for being properly prepared. If you haven't evaluated your family's insurance plans in a while, a new life milestone is a good opportunity to do so. Join us in walking through the different types of insurance you may hold and how your needs may change with time.
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If it sounds too good to be true, it probably is. If someone asks you to invest and promises impossible returns on your money, such as guaranteeing that your money will be doubled or tripled with no risk, it’s probably a Ponzi scheme. Knowing how to recognize different types of fraud is a key component to financial literacy. There are many types of investment scams, but one of the most famous is known as the Ponzi scheme.
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When it comes to saving, the way you choose to save will greatly influence your return on investment. Aggressive options may have the highest yield while posing the greatest risk of loss, where conservative saving options offer a slower, but risk-free return. Certificates of deposit, also known as just certificates, are in the latter group and provide a safe way to grow your funds over time. To explore this savings option, continue reading.
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You want to enjoy your retirement. You’ve earned it! So, the last thing you want to do is worry about your finances. If you’re recently retired or soon will be, you want to make sure your money will last, especially during these uncertain times. Here are six keys to saving money and simplifying your finances in retirement.
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We have all heard it before — start saving now, so you can enjoy retirement on your terms. Unfortunately, if you’re like most 20-somethings, contributing to a retirement account is a task that tends to fall down your ever-growing list of to-dos. From student loans to rent and bills, it’s easy to understand how retirement planning, like selecting a Roth vs. traditional IRA, can be neglected. In fact, it is estimated that “66% of people between the ages of 21 and 32 have absolutely nothing saved for retirement, according to the National Institute on Retirement Security. To help get you started and escape that statistic, it is helpful to consider your retirement options and understand the differences between a Roth vs. traditional IRA, two important options for any retirement strategy.
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Saving for retirement is one of the most important things you’ll do with your money. But there are a lot of different ways to save for retirement. Choosing the best option can be confusing. If you’re looking for a simple solution that offers both steady earnings and protection for your funds, an IRA certificate could be right for you. While you may not have heard of this type of account, you’re probably familiar with the two accounts it combines: an individual retirement account (IRA) and a certificate (the credit union equivalent of a bank CD). Here’s why an IRA certificate could be a smart approach to your retirement savings.
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Every January, people across the world set New Year’s resolutions — from saving money to losing 15 pounds, the start of a new year is a chance to plan for the future and reach new milestones. One resolution that should be at the top of your list? Retirement planning.
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