[Business Insider, Leung/Insider Intelligence] My parents don’t understand why I don’t own a house, a car, or a retirement savings account.My generation has fewer job opportunities, more student debt, and outrageous housing prices.It’s far worse for us than it was for previous generations.Ingrid Cruz is a freelance writer based in Mississippi.This is an opinion column. […]
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[Business Insider, Getty Images] 60% of millennials earning over $100,000 say they’re living paycheck to paycheck in a new survey.Some of these millennials — known as HENRYs — prefer a comfortable, expensive lifestyle.But $100,000 also doesn’t go that far in today’s economy. High-earning millennials are feeling broke. Sixty percent of millennials raking in over $100,000 a year say they’re living […]
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[Chicago Sun-Times] Trump is on the defensive after the New York Times story about how he avoided loan payments and taxes on his Trump International Hotel & Tower, 401 N. Wabash Ave. WASHINGTON – A day after the New York Times story about President Donald Trump’s Chicago hotel and tower financial woes — and how he outmaneuvered […]
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[Forbes, Getty Images] Larry Light: Is there a way to use retirement funds, like an IRA, funds to pay off the bank without having to take a taxable distribution? This money, of course, is invested before taxes, and only is taxed when it’s withdrawn. Stephen Nelson: No, unfortunately. But with a little tax planning and a strategy […]
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[MSN, iStock] Which debt should you consider tackling first? If you’re trying to pay off different types of debt, you may be wondering which to tackle first. In general, you should first pay off high-interest debt, plus any secured non-mortgage debt. After that, some payoffs might personally benefit you more than others. Before prioritizing debt, […]
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[Kanetix Ltd.] Fixed mortgage rates continue to reach new depths. Some are now under 2.00% for the first time ever. That’s great news for new homebuyers or those with an upcoming mortgage renewal. It’s creating a dilemma, however, for those who are currently locked into a fixed term at a higher—in some cases a much higher—rate. Anyone […]
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[CNBC] Creditors generally try to collect what’s owed to them by going after the decedent’s estate during a process called probate.There are instances, however, where the surviving spouse, or another heir, may be legally responsible.Some assets don’t count as part of a person’s estate for probate purposes. It’s not unusual for a person to pass […]
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[CNBC] The coronavirus relief package lets borrowers forgo student loan payments until this October with no interest or penalties. It is not a small gesture. Americans owe more than $1.4 trillion in student debt. The average borrower carried more than $35,000 in loans in 2019. Story Young, 30, dropped out of college 10 years ago after burning through her […]
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[Business Insider, Getty Images] When the Federal Reserve dropped the federal funds rate target to zero in March 2020, the average interest rate fell to a record low.As interest rates fell, I jumped at the opportunity to save on my mortgage.Instead of opting for the lowest-possible payment on a 30-year loan, I took a slightly higher […]
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