Christina Zelow Lundquist/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A cash-out refinance replaces your current mortgage with a new, bigger one. The borrower receives the difference between the two balances in cash. The terms of your refinanced mortgage might differ from your original loan, including a new interest…
Money is an uncomfortable topic for many, yet it’s an important ongoing conversation to have in a relationship. Financial secrets undermine trust. And for many, it may even feel like betrayal. More than 2 in 5 U.S. adults (43%) believe keeping financial secrets is at least as bad as physical…
Key takeaways Decisions made by the Federal Reserve to increase the benchmark rate do not directly impact auto loans but rather the cost for banks to lend. The higher the Fed sets rates, the higher auto loan rates will likely be. The Fed made its third and last rate cut…
The holiday season is a time filled with joy, celebration, and, often, a lot of expenses. As the festivities wind down, many find themselves facing the reality of depleted bank accounts, credit card debt, and the daunting task of rebuilding their financial safety nets. An emergency fund serves as a…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Image: Getty Images; Illustration: Bankrate No movement in home equity rates, as the Federal Reserve left interest rates unchanged at its first meeting of 2026. The $30,000 home equity line of credit and the five-year $30,000 home equity loan were flat for the week, remaining…
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2. Coaching and Tutoring Take stock of your areas of expertise – maybe you speak a second language or solving math equations comes…
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OBSERVATIONS FROM THE FINTECH SNARK TANKBankers wants to discuss AI strategy. They’re excited about chatbots, machine learning models, generative AI tools, and AI…
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Key takeaways Predatory cards are often viewed as a last resort for those with the worst credit scores. These cards are known for sky-high interest rates, lower credit limits and myriad fees. Stronger credit-building options exist, even for those with poor credit. Help is available for those unable to pay…
While some retirement plans allow in-service withdrawals, most discourage early access with penalties, taxes and missed growth potential. Before making a move that could undermine your long-term retirement goals, it helps to know the rules. A financial advisor can help you balance today’s needs with your long-term retirement goals.Can You…
Using a 401(k) loan for home improvement may feel like an easy solution to unexpected expenses. After all, you’re borrowing from yourself. There’s no credit check, and the interest you pay goes back into your retirement account. While the convenience may be appealing, the long-term financial trade-offs deserve your consideration.…
When a parent passes away, one of the biggest financial questions families face is whether their children can receive any of their parent’s pension benefits. Unlike life insurance or retirement accounts, pensions have stricter rules that often limit who can inherit them, and children are rarely at the top of…
Unlike traditional loans, a 401(k) loan is tied to your employer-sponsored retirement plan. That means your repayment options and timeline may change significantly once you are no longer with the company. If you fail to repay the loan within the specified period, it could be treated as a taxable distribution,…
Testing Financial Independence – What Have You Got to Lose? Testing financial independence through a “trial run” before committing to a lease helps young adults understand the real cost of living on their own if they’ve never lived without a roommate or outside of the home they grew up in.…
If you default on a 401(k) loan, the balance is usually treated as a taxable distribution. This may result in income taxes and, if you are under 59½, a 10% early withdrawal penalty. It can also reduce the amount you have available for retirement in the future. A financial advisor…
Planning how and when to withdraw money from your retirement accounts can have a big impact on how much of your savings you actually get to keep. This is especially true with 457(b) plans, which are common for public sector employees. While these accounts offer unique flexibility when compared with…
Medicare premiums are based on taxable income and a sudden increase can raise your costs. So if you are considering a Roth conversion as part of a long-term strategy to lower retirement taxes, this could raise your premiums in the year after the conversion. However, you should also note that…
Combining a 401(k) from work with an IRA can help you grow savings faster and give you more options for retirement planning. Contributing to both could grow your retirement savings by combining tax-deferred and tax-free advantages. A 401(k) typically provides employer matching, while an IRA offers wider investment flexibility. Together,…
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