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Inheritances are useless by the time they're received, writes Bill Perkins in "Die with Zero." Gifting money earlier when it will do the most good is a smarter move, Perkins writes. In his book, "Die with Zero," he explains how he hopes to spend all the money he has before he dies. For that reason, Perkins writes that the money could be better used earlier in life. This pattern of later-in-life inheritances is something that Perkins hopes his "Die with Zero" strategy reverses.

Persons: they're, Bill Perkins, Perkins, Bill Perkins isn't, he'd, inheritances, Inheritances, Lincoln Plews, doesn't, Get Organizations: Service, Wall, Federal Reserve, United Income, Capital Locations: Wall, Silicon

I have many wealthy financial planning clients, and they all share four habits. They maintain a long-term focus on their financesIt is easy to get sucked into day-to-day market swings and financial temptations. Put simply, they have a long-term plan that they keep front of mind when they are making daily decisions. However, it can be hard for us to remove the emotion from daily market swings and maintain a long-term focus. This is something my millionaire clients fully embody, and allows them to see the fruits of that pre-planning and compounding interest.

Persons: doesn't, Get, Read, Warren Buffett Organizations: Service, Federal, Berkshire Locations: Wall, Silicon, Omaha

To get the best deal buying a car online, do everything you would do at a dealership. Online car shopping has become far more mainstream during the pandemic, and it's likely here to stay. If you're looking to buy your next car online, here's what you need to know to make sure you're getting the best deal possible. If you want to test drive the car you're considering, it's still possible, even when shopping online. "Pick out a car online, and then go to a local dealer and take a test drive of that vehicle," he told Insider.

If your credit score isn't great, you can still get approved as Avant looks at both your credit score and income. When determining eligibility for a loan, LendingPoint considers credit score, loan term, credit usage, loan amount and other factors. Personal loans are a form of installment credit, which affect both your credit report and your credit score. Student loans, personal loans and credit cards are all example of unsecured loans. Our methodologyTo determine which personal loans are the best for consumers with bad credit, Select analyzed dozens of U.S. personal loans offered by both online and brick-and-mortar banks, including large credit unions.

If your credit score isn't great, you can still get approved as Avant looks at both your credit score and income. When determining eligibility for a loan, LendingPoint considers credit score, loan term, credit usage, loan amount and other factors. Personal loans are a form of installment credit, which affect both your credit report and your credit score. Student loans, personal loans and credit cards are all examples of unsecured loans. Our methodologyTo determine which personal loans are best for bad credit, CNBC Select analyzed dozens of U.S. personal loans offered by both online and brick-and-mortar banks, including large credit unions.

Persons: Will, it's, you'll, You'll, OneMain Financial's, LendingPoint, prequalify Organizations: CNBC, OneMain, AK, AR, DC, Social, CNBC Select's, Facebook, Twitter Locations: Alabama, California, Georgia, Ohio, Virginia, Carolina, Nevada, West Virginia

☆ Innovation Strategies at Small and Midsize FIs: How US Banks with Assets Below $100 Billion Are Punching Outside Their Weight Class on Digital User Experience
▼ + stars: | 2021-02-18 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +4 min

Smaller FIs are aware of the need to develop value-added digital customer experiences, but they have to do so with smaller budgets than their competitors. The following is a preview of Insider Intelligence's Innovation Strategies at Small and Midsize FIs Report. How can smaller FIs use digital to their advantage? Innovation strategies for small and midsize FIsDespite the financial and digital obstacles smaller and midsize FIs face, there are key strategies they can harness. Insider Intelligence's Innovation Strategies for Small and Midsize FIs Report discusses the unique challenges and advantages small and midsize FIs face in relation to digital innovation; outlines the innovation strategies open to them, and their pros and cons; and gives real-world examples of these strategies in action.

The book lays out five steps to investing your money, from opening a brokerage account to buying index funds. For example, the Vanguard Total Stock Market Index is represented as VTSAX. 30% Vanguard Total Bond Market Index Fund (VBMFX)35% Vanguard Total Stock Market Index Fund (VTSMX)35% Vanguard Total International Stock Index (VGTSX)As you can see, he recommends roughly one-third in an international stock index fund, another third in a domestic index fund, and a final third-ish in a domestic bond index fund. (I have a lot of working years ahead of me and the stock market is currently going nuts, so I've opted for 90% stocks and 10% bonds.) Once you're set up, you need to adjust your ratios just once a year, letting your money work for you instead of the other way around.

Persons: Andrew Hallam's, it's, —, She'd, Hallam, let's, VTSAX, It's, you'd, What's, I've Organizations: Service, That's, Hallam, Vanguard, Index, Market Index Locations: VTSAX

And, if you're like me in another way, you're also a regular person with student loans, a little too much credit card debt, and a longing for something better. But I kept feeling like I didn't want to live to work; I wanted to work to live. By starting the Slow FIRE journey, I started living the "retirement" life I'd been dreaming about years before I hit my retirement number. Basically, I created a Slow FIRE blueprint and began making changes in order to live the life I imagined. AdvertisementThen, I took practical steps to get thereNext, I made concrete changes to live the French-style life of my dreams.

Persons: I've, —, You've, I'd, It's Organizations: Service, FIRE Locations: France, COVID

If you're looking to transfer your debt to a fixed-rate personal loan, Select reviewed dozens of personal loan lenders and chose the best five for refinancing debt. Here are the top five personal loans for refinancing your debt. Best personal loans to refinance your credit card debtCompare offers to find the best loanWhen searching for a personal loan, it can be helpful to compare several offers to help narrow down the best interest rate and payment terms to suit your needs. A late payment on your personal loan can hurt your credit score just like if you miss a credit card bill. Our methodologyTo determine which personal loans are the best for refinancing debt, Select analyzed dozens of U.S. personal loans offered by both online and brick-and-mortar banks, including large credit unions.

Unlike savings accounts, the interest rates on certificates of deposit are fixed. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Unlike CDs, savings account interest rates move up and down with the Fed rate.

A CD ladder provides more flexibility than a single CD and hedges against interest rate volatility. First, since the CD ladder will include some shorter-term CDs, it provides more liquidity than just buying a single long-term CD. Here's how the renewal schedule would work if you built your initial CD ladder in February 2022:February 2023: Renew the one-year CD into a five-year CDFebruary 2024: Renew the two-year CD into a five-year CDFebruary 2025: Renew the three-year CD into a five-year CDFebruary 2026: Renew the four-year CD into a five-year CDFebruary 2027: Renew the five-year CD into a new five-year CDBy continuing to renew maturing CDs into five-year variants, eventually your entire ladder will consist of longer-term (and hopefully higher-paying) CDs. While setting up a CD ladder provides more flexibility than a single long-term CD, it's still less liquid than a savings account. A CD ladder is also not a true alternative to the stock market for long-term investing goals.

☆ Here are the best brick-and-mortar savings accounts of May 2023
▼ + stars: | 2020-10-07 | by ( Elizabeth Gravier | Jason Stauffer | ) www.cnbc.com time to read: +23 min

To determine which brick-and-mortar savings accounts are the best overall, CNBC Select analyzed and compared dozens of savings accounts offered by the largest banks and credit unions. The brick-and-mortar savings accounts we selected for our ranking are all FDIC-insured, with access to at least 700 physical branches and over 4,000 non-fee ATMs in the U.S. (See our methodology for more information on how we choose the best brick-and-mortar savings accounts.) Best brick-and-mortar savings accountsCompare offers to find the best savings accountBest at Bank of AmericaBank of America Advantage Savings Learn More Bank of America, N.A. Like Wells Fargo, Chase offers two brick-and-mortar savings accounts: the standard Chase Savings℠ and the Chase Premier Savings℠. Find the best savings account for you: Help your money grow by finding the savings account that offers the best rates and features for you.

☆ Here are the best brick-and-mortar savings accounts of March 2023
▼ + stars: | 2020-10-07 | by ( Elizabeth Gravier | Jason Stauffer | ) www.cnbc.com time to read: +23 min

To determine which brick-and-mortar savings accounts are the best overall, CNBC Select analyzed and compared dozens of savings accounts offered by the largest banks and credit unions. The brick-and-mortar savings accounts we selected for our ranking are all FDIC-insured, with access to at least 700 physical branches and over 4,000 non-fee ATMs in the U.S. (See our methodology for more information on how we choose the best brick-and-mortar savings accounts.) Like Wells Fargo, Chase offers two brick-and-mortar savings accounts: the standard Chase Savings℠ and the Chase Premier Savings℠. Find the best savings account for you: Help your money grow by finding the savings account that offers the best rates and features for you. Our methodologyTo determine which brick-and-mortar savings accounts offer the most convenience, CNBC Select analyzed dozens of U.S. savings accounts offered by the largest national banks and credit unions.

In the US, 401(k)s are the most common retirement savings account. That's created a disparity in retirement saving — just 38% of Black households have retirement savings compared to 63% of white households. As a Black woman, I opened a Roth IRA to take control of my retirement savings no matter what my employer provides — and I think every person of color should do the same. This is a problem, since employer-sponsored 401(k)s are the most ubiquitous form of retirement savings account. A Roth IRA (Individual Retirement Account) is another tax-advantaged retirement account.

Persons: That's, —, Nari Rhee, Dr, Roth, I'd Organizations: Service, National Institute on Retirement Security, IRA, Roth IRA

Banks place holds on checks to make sure that your check payer has the bank funds necessary for the check to clear. Below, we'll cover the most common reasons your bank may be holding your check, how long it could last, and what you can do to avoid check holds in the future. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE.

Understand how your credit score affects interest ratesGenerally, a credit score is the most important factor in deciding what interest rate a lender will offer you. Get your most recent credit scoreIt's one thing to suspect you have bad credit, and another to know exactly how bad it is. Consider a credit unionCredit unions are a great option for those looking to get a loan with bad credit. Your credit report spells out everything being counted in your credit — every loan, every credit card, every debt. Try and boost your credit scoreYour credit score is calculated, approximately, with the following five factors:payment history (35%)current debt balances (30%)length of credit history (15%)new credit (10%)credit mix (10%)Some of those factors are difficult to change, like the length of your credit history.

To get a car loan with bad credit, start by saving a down payment, checking your credit score, and setting a budget. Buying a car with poor credit will cost more in interest, so it may be worth waiting and working to raise your credit score if possible. But, with poor credit, getting a car loan will cost you more, as banks will charge higher interest rates to lend to you. Save up a large down paymentTo get a car loan with bad credit, start by saving a down payment. Check your credit — and improve it if you have timeYour credit score is like a lender's version of a GPA.

If you're saving for several goals at the same time, you might want to find a savings account, like the Ally Bank Savings Account, which allows you to earmark funds for different purposes. Here are a few of the factors that you'll want to look for:AdvertisementA high interest rate: The typical savings account earns .07% interest, but you can earn much more by looking for a high-yield savings account. The only difference between these two types of accounts is the fact that high-yield savings accounts earn more, so it's worth opting for one of these over a traditional savings account. The typical savings account earns .07% interest, but you can earn much more by looking for a high-yield savings account. The only difference between these two types of accounts is the fact that high-yield savings accounts earn more, so it's worth opting for one of these over a traditional savings account.

Persons: —, you've, You'll, you'll, Bradley Organizations: Service, Ally Bank, Federal Deposit Insurance Corporation, National Credit Union Administration

You'll need three things to save money as a teenager: a savings account, a job or an income stream, and a goal. Whether you're looking to save for your first car, college, or a gap-year trip around the world, the most important part of saving as a teen is getting started. And an even bigger benefit of learning how to save money as a teenager is that you can start building a savings habit that will last forever. Start thinking ahead about how you'll use the money you're saving, and how to maximize that money. If you're saving for a car, start learning about the costs associated with owning a vehicle, how to buy one, and which car is right for you.

Wondering what the difference is between banks and credit unions? For example, many credit unions offer high-yield savings account rates at or near 2%, while most banks' savings rates hover well below that. Not all credit unions are federally insuredIn addition, not all credit unions are insured like banks. Federal credit unions are insured by the National Credit Union Administration, but some smaller credit unions are privately insured, which means they might not be backed by the US government and may not cover member deposits like federally-insured credit unions do. Can be difficult to joinIf you're interested in becoming a member of a credit union, keep in mind that credit unions can take a little more effort to join.

☆ 5 things you might be doing already that could boost your credit score quickly
▼ + stars: | 2019-10-03 | by ( Caroline Lupini | Freelance Reporter | ) www.businessinsider.com time to read: +5 min

Building up a strong credit score is key if you want to benefit from great credit cards offering a ton of points and miles. That's because you need to use credit to build credit. Here are some of the most effective ways to increase your credit score that you might be doing already. Opening more accountsIt may seem counterintuitive, but having more credit cards can make your credit score go up. The more money that you have borrowed and paid back on time, the higher your credit score will be.

You can help your child establish and build credit without taking on the dangers of co-signing for a loan or credit card. Call your card issuer and ask for your son or daughter to be added onto your credit card as an authorized user. If so, he or she may be able to open a credit builder loan to help establish some credit. A student credit card or a secured credit card can potentially be a good fit for young people who want to establish credit on their own, without the need for a co-signer. Some options to consider include:Discover it Student Cash BackWells Fargo Cash Back College CardBank of America Travel Rewards Credit Card for StudentsPetal CardSecured credit cards: Another option your child might want to consider is a secured credit card.

☆ 6 things I wish I could tell my 20-year-old self about money
▼ + stars: | 2019-08-27 | by ( Caroline Lupini | Freelance Reporter | ) www.businessinsider.com time to read: +6 min

I wish I could go back and tell my 20-year-old self that I probably don't need a masters degree, to have more than one checking account, and not to be cavalier about student loan debt. I'm 27 now, and I already have six things I wish I could go back and tell myself when I was 20. This is a key difference, because it means that they don't need to pay dividends to shareholders. Lower interest rates when borrowing money, higher deposit rates when saving money, and lower fees. Colleges and universities have a financial interest in your continued enrollment, and they don't have a fiduciary responsibility to you.

☆ Online checking accounts woo millennials with cash back, no fees, and interest on your money, but anyone can take advantage
▼ + stars: | 2019-07-24 | by ( Caroline Lupini | Stephanie Hallett | Freelance Reporter | ) www.businessinsider.com time to read: +8 min

Most traditional checking accounts come with a monthly fee and don't offer many (if any) perks or rewards. Some online banks, on the other hand, offer checking accounts that are not only fee-free, but also offer cash back and other rewards. Here, we look at online checking accounts and perks offered by Discover, BECU, Varo Money, and Aspiration. AdvertisementIf your checking account fees just went up again, you might be wondering whether there are better alternatives. This may not end up bothering you much, since online accounts fill the gaps with online services that traditional banks may not have.

Persons: —, it's, you'll Organizations: Discover, Service, BECU, Northwest Credit Union Foundation, MasterCard, The Bancorp, Corp, Coastal Community Bank Locations: Wells, Washington, Charleston , South Carolina, United States, Canada, United Kingdom, Australia, Mexico, Delaware, Everett , Washington

Most people only need a checking account and a savings account. You may consider switching banks if your savings earns little to no interest, your checking account has a monthly maintenance fee, you're paying out-of-network ATM fees, or your bank charges for overdraft protection. Your savings earns less than 2% interestIf you're keeping savings in a traditional savings account, or even a checking account, there's a good chance your money is losing value. Your checking account has a monthly maintenance feeThe average monthly maintenance fee on non-interest checking accounts — the account you use probably use to pay for your everyday purchases or monthly bills — is about $5.50, according to Bankrate. Your bank charges for overdraft protectionBanks often provide overdraft protection on checking accounts, and many don't ask before opting customers into the service.

Persons: —, Brannon Lambert, HerMoney, Lambert, Bankrate, Banks Organizations: Service, Canvasback Wealth Management

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