Personal Loan Statistics and Trends to Watch in 2024 | Personal Loans and Advice

[ad_1] Consumers are increasingly turning to unsecured personal loans to achieve their financial goals, whether they want to knock out home improvement projects, consolidate high-interest credit card debt or simply pay for an unexpected car repair. Personal loan balances have ballooned – both at the individual borrower level as well as nationally – at a … Read more

How to Navigate Student Loan Repayment in 2024 | Student Loans and Advice

[ad_1] After three years of COVID-19 forbearance expired in October 2023, transitioning millions of Americans back into student loan repayment has been a logistical nightmare. More than 14 million borrowers had their loans transferred to a new servicer during the pandemic payment pause, according to the Consumer Financial Protection Bureau. Over four million borrowers were … Read more

A Guide to Your Roth 401(k) | 401ks

[ad_1] Saving for retirement in a Roth 401(k) will give you a tax-free source of retirement income. You also won’t need to pay income tax on the investment growth within the account. Here’s why you should consider using a Roth 401(k) to save for retirement: You can avoid paying income tax on investment gains. Withdrawals … Read more

How to Take 401(k) Hardship Withdrawals | 401ks

[ad_1] If you’re looking for resources to get through a difficult financial situation, you may have considered taking money out of your 401(k) plan. There are several circumstances when current employees can take 401(k) withdrawals, but you’ll need to meet certain criteria to avoid penalties when withdrawing funds early from your retirement account. To understand … Read more

What Is the Inherited IRA 10-Year Rule? | IRAs

[ad_1] An inherited individual retirement account is created with the funds in an IRA or employer-sponsored retirement plan after the original owner dies. You are not able to make more contributions to the account after inheriting it. In addition, you will need to take distributions according to specific rules, which vary based on your age … Read more

Why Do Jobs No Longer Offer Pensions?  | Retirement

[ad_1] For many years, companies often provided workers with a pension plan, a valuable benefit that set them up with a steady source of guaranteed income during retirement. These days, fewer employers offer a pension: Only 15% of private industry workers had access to one in 2022, according to the Bureau of Labor Statistics. Retirement … Read more

What Is the Social Security Administration? | Social Security

[ad_1] Almost all working Americans eventually receive Social Security benefits. These funds are collected and distributed by the Social Security Administration, a federal agency that serves to fight poverty. The SSA’s programs pay benefits to almost 67 million people, including retirees, children, widows, widowers and those with disabilities. As you manage your finances and prepare … Read more