Q. I have more than enough to fund my retirement and I plan on retiring by age 62. I am considering taking my Social Security payout at age 62 and investing it in fairly aggressive stock funds for each of my two kids. I would like to put it into a trust that wouldn’t allow them to access the money until they are 60 years old to help fund their retirement. …Read More
You have a handle on your personal financial goals, but what if you’re an entrepreneur? How you manage your business’ finances may look drastically different from your strategy for personal finances. Whether you run a one-person show or have an extended team, being able to manage both the day-to-day of your finances as well as see the bigger picture is essential for small business success. Keep an Eye on …Read More
Whether you’re tackling your holiday shopping in-store or online, chances are good you’ll be offered at least a few store credit cards this season. And those offers can be extremely tempting, full of alluring words like “20% off,” “free shipping,” and, perhaps the most appealing of all, “0% financing.” But, as attractive as these offers can be, store credit cards aren’t always the innocent beacons of savings that their …Read More
Q. I filed for bankruptcy, but my case was dismissed. It’s been 16 months since the dismissal. While I was protected during the bankruptcy process, all accounts were closed and not sold to collection agencies. Should I hire a credit repair company to help clean up the mess or should I leave it alone? Right now, I only have one account in collections and maybe 10–12 that have late payments. …Read More
Conventional wisdom holds that buying a home is the best investment you can make, but despite rising rent prices across the country, many people are wondering if it’s still smarter to buy. While a home purchase may not be the best choice for everyone, if you’re focused on building a secure financial future, then the question of whether to buy or rent is a no-brainer. Why It Pays to …Read More
Q. I was reading about the Navient lawsuit but also received a text in regards to it and wanted to understand this better. I’ve been paying this one loan for what seems like forever and I do pay extra each month. This loan started out at about $30k and now it’s at $50k. In the end, I’ll end up paying over $90k. I was in the military and my recruiter …Read More
Although it’s nearly second nature for most consumers to pull out a credit card for their purchases, it may not always be the best idea for everyone. This can be especially true around the spend-happy holidays when we’re less inclined to stay on budget in the face of seemingly unbeatable sales of Black Friday and Cyber Monday. At the same time, you don’t necessarily need to leave your credit …Read More
Q. When I was under 18, my parents added me as an authorized user to one of their credit cards. However, since then, they have accumulated a lot of debt on that credit card that now negatively impacts my credit score. I am continuously getting denied from credit card applications of my own. In terms of damage control, is it better for me to stay on the card and wait …Read More
JOIN @NFCC for OUR #NFCCtips chat ON Friday, November 16th AT 3PM ET FOR A CHANCE TO WIN PRIZES! Follow #NFCCtips as we discuss retirement planning findings from our 2018 Financial Literacy Survey and tips to prepare for retirement! There will be 2 chances to win an Amazon gift card! 1-$25 Amazon gift card 2-$25 Amazon gift card Use #NFCCtips to participate. For an easy way to keep track of the conversation, …Read More
The moment a student takes out a loan is not often the time they think about how to repay them. But, the reality is the moment you sign on the dotted line, you need to figure out how you are going to pay it back. However, for many borrowers this time has already passed. So, here are seven steps you can take to start making extra payments on your student …Read More