A defined-benefit plan, commonly known as a traditional pension plan, is a retirement plan funded by an employer that calculates employee benefits based on a formula that takes into account several factors,…
Month: April 2024
CD vs. High-Yield Savings: What’s the Difference?
If you can’t accept the risks of the stock market, you need to decide on the best place to keep your money while maximizing earnings. Many look to high-yield savings accounts (HYSAs)…
What Documents Are Required for a Personal Loan?
A personal loan can be a great way to pay for a home renovation project, fund a big expense, pay for a family vacation, or just cover unexpected costs that crop up….
What Is a Money Order and How Does It Work?
A money order is a financial instrument that allows you to pay bills or reimburse friends and family without having to write a check or use cash. You can get one from…
How to Get Renters Insurance in 4 Easy Steps
According to a recent report by SafeHome.org, about 55% of renters have insurance. However, a survey from the report finds that 16% of renters who don’t have a policy say they are…
What Is a Checking Account?
Checking accounts lie at the center of our financial lives, acting as the primary account where paychecks and other funds come in and where bills and other expenses exit. Like a security…
How Long Does It Take to Refinance a House?
If you’re like many homeowners, a sizable percentage of your budget goes toward your home loan each month. A mortgage refinance could help make those payments more manageable by lowering your interest…
Best High-Yield Savings Account Interest Rates 2024
Savers who want to earn the most interest on their money should look at the best high-yield savings accounts. With interest rates on the rise, savers are earning higher rates in HYSA…
What Is an Accredited Investor?
Certain alternative investments—such as hedge funds, private equity, and venture capital—aren’t available to anyone with an investment account. This is because they’re generally not registered with the U.S. Securities and Exchange Commission…
Best Mortgage Lenders for 2024
A home mortgage is one of the biggest loans that most people will ever take out, allowing them to buy a home with a repayment term that can last multiple decades. Because…