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What Is a Credit Score and Why Is It Important to Your Financial Future
Your credit score has a significant impact on many aspects of your life—your ability to obtain a credit card, mortgage, or other loans, loan interest rates and terms, and sometimes whether you can rent an apartment or how much you’ll pay for a deposit on your lease or other utilities…
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Reverse Mortgages: What They Are and If They’re Right for You
Millions of Americans are entering retirement encumbered with mortgages. The proportion of homeowners aged 65+ who still carry a mortgage doubled over the last 30 years—from 21% in 1989 to 42% in 2019. The median loan balance increased to $86,000 in 2019 from $18,000 in 1989. Lastly, and maybe more…
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What Are Advance Healthcare Directives and Why Do I Need Them?
Preparing for end-of-life care and decisions is uncomfortable and can feel morbid. Still, preparation can ultimately be a comfort to you and your family if and when the time comes to carry out those directives. The U.S. population continues to age, and medical innovations are prolonging lifespans. This means that…
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10 Reasons You Need a Will
In the event that you die or become incapacitated, have you adequately entrusted your assets to those you love? Wills are not just for the wealthy. According to caring.com, only 22.5% of 35–54-year-olds and only 44% of 55+ year-olds have estate planning documents. The Covid-19 pandemic also prompted younger people…
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Guide to 529 Plans
Saving for your children’s or grandchildren’s college education can seem like a daunting task, especially with the skyrocketing costs of higher education. Since 2000, the average annual cost to attend a U.S. college has more than doubled—and it shows no signs of slowing. According to Sallie Mae’s annual How America…
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How Retirees and Pre-Retirees Can Hedge Against Inflation
Today’s dollar buys far less than it did 10, 20, and 30 years ago—much like today’s dollar will not have the same purchasing power in 10, 20, and 30 years in the future, meaning that as time goes on, your money will not stretch as far as it did when…
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Inflation: What It Is and Why You Should Care
Have you ever heard your grandparent say, “I remember when a gallon of milk cost 30 cents!”? Shoot, you may even have examples from your lifetime! I remember when a gallon of gas was a little over a dollar—and I’m a millennial. There’s one big reason for these stories of…
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Debit Versus Credit for Beginners: Benefits and Disadvantages
Have you ever been in the checkout line and overheard the cashier ask, “Debit or credit”? Have you ever been curious as to what this phrase means? Well, you’re not alone. Plain and simple, the cashier is referring to which method of payment you will be using: a debit card…
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