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Tag: Personal finances

  • How much you would have if you invested $1,000 ten years ago

    Sopa Images | Rocket | Getty Images Nike continues to attract sneaker fans and activewear enthusiasts. The retailer reported revenue of $12.4 billion for the third fiscal quarter of 2023, surpassing forecasts of $11.47 billion, according to Refinitiv’s consensus estimates. The company also reported earnings per share (EPS) of $0.79, compared to the $0.55 analysts […]

  • What the Fed’s next move means for mortgages, loans and credit cards

    The bar Americans must clear to get approved for loans and credit cards is likely to rise along with interest rates, due in part to the fallout from the collapse of Silicon Valley Bank. The Federal Reserve is expected to raise rates again on Wednesday, though some economists say it could go on hiatus this […]

  • What happens during a ‘credit crunch’ and how to prepare for it

    A credit crisis is a sharp tightening of credit conditions at banks. Loans are harder to get and more expensive. The banking crisis caused by the failures of Silicon Valley Bank and Signature Bank is likely to lead small and medium-sized institutions to prioritize healthy balance sheets. The prospect of a recession caused banks to […]

  • Can I evict tenants who have lived in a house I inherited for years without a lease?

    I inherited a house in San Francisco from my aunt. My aunt had rented her basement (probably illegally) to an elderly couple for a few years at a price below market price. I don’t believe there was a lease, and it’s probably against the building code to have tenants in the basement. The couple’s family […]

  • Is my money safe? Here are the ins and outs of FDIC insurance

    The federal government this week helped clients of Silicon Valley Bank and Signature Bank get their money back even if their deposits were uninsured. If other institutions fail in the future, customers may need to turn to FDIC insurance, Treasury Secretary Janet Yellen said this week. Importantly, FDIC insurance has limits. Here’s how to make […]

  • The deadline for the required minimum benefits for the first year is April 1

    Ronnie Kaufman | Digital Vision | Getty Images If you turn 72 in 2022, the last chance for your first mandatory withdrawal from the retirement plan is April 1 — otherwise you could face a hefty tax penalty. In general, these annual withdrawals, also known as required minimum distributions or RMDs, require you to start […]

  • The deadline for the required minimum benefits for the first year is April 1

    If you turn 72 in 2022, the last chance for your first mandatory retirement plan withdrawal is April 1, otherwise you may incur a 25% tax penalty. While the annual deadline for required minimum distributions is December 31, there is a special exception for the first year, which moves the due date to April 1. […]

  • It’s the “best time” to contribute to a retirement plan, adviser says

    After an already bad year, 401(k) account balances have taken a big hit in retirement, but that makes this the best time to invest, says one expert. According to Louis Barajas, a member of CNBC’s Advisory Board, down markets are ideal for calculating the dollar cost. A separate analysis from Vanguard also found that average […]

  • Why you should buy everything with credit cards

    Having multiple credit cards and playing the rewards game can save you hundreds of dollars each year — if you’re smart about how you use the cards. “The big fork in the road is whether or not you carry a balance,” says Ted Rossman, senior analyst at Bankrate.com and Creditcards.com. “I think you should use […]

  • How Much You Need to Save to Earn $70,000 a Year in Retirement Interest

    While the thought of adequately funding your retirement may be daunting, if you start planning now, you’ll be thankful later. It may also not be as difficult as you think. Retirement usually involves replacing your one-time annual salary from a workplace with other sources of income to maintain your current lifestyle. While Social Security may […]