Need to Know: Required Minimum Distributions (RMDs)

What Is a Required Minimum Distribution (RMD)? A required minimum distribution (RMD) is a mandatory annual withdrawal that you must take from certain types of tax-advantaged retirement plans. If you don’t take your RMDs in time, you could have to pay a steep 50% tax on the money you should have withdrawn. However, the amount you’re required to withdraw can change each year because it depends on... Continue reading

How to Make the Most of Your Charitable Contributions

4 Ways to Maximize Your Charitable Contributions Charitable giving is an altruistic opportunity to help others and receive a tax deduction. Here’s how you can maximize both impacts.  You can approach charitable giving in many ways. Perhaps it’s a monthly obligation, one of your regular budget categories, or an annual tradition. No matter when you give, a strategic approach can help ensure your... Continue reading

6 Money Traditions to Spread Cheer Now & Through the Year

While each family’s traditions can be quirky and unique, the desire to spend time together and bring joy to one another is universal. With a focus on money-related traditions, we asked members of the personal finance media and financial professionals to share their families’ customs and practices. 1. Help Those Who Need It Most Many families’ holiday money traditions involve giving to others.... Continue reading

Simple vs. Compound Interest: Here's What You Need to Know

When you stash your money in savings at a bank or credit union, the financial institution pays you interest—free money you receive every month. But you also see interest rates when you’re looking to borrow. That new credit card, your mortgage, a student loan — all of them come with an interest rate that lets you know how much you’ll pay your lender. When you’re on the receiving end of interest,... Continue reading

Investment Property Loans: Everything You Need to Know

Investing in real estate requires capital, whether you’re buying a vacation condo to rent out, a single-family home for leasing, or a multi-story apartment building. Rental property loans can provide the capital you need, but they’re not exactly the same as conventional home mortgages. It’s important to understand the nuances of these loans before you sign on the dotted line.  Why Use an... Continue reading
Expense Management Tips for Property Managers

Expense Management Tips for Property Managers

Whether you rent out a single house or manage multiple buildings with hundreds of tenants, it's always important to keep your property management costs to a minimum to ensure profitability. Here are several ways to reduce your costs for both commercial and residential properties.  Continue reading

40 Tips for Buying Your First Rental Property

Buying rental property can be a great way to earn income—whether you’re purchasing a condo, a single family home, an apartment building, or a number of properties to diversify your rental portfolio. Today, individual investors own more than 47% of rental units in America, according to Harvard’s Joint Center for Housing Studies’ America’s Rental Housing Report. But rental property investments can... Continue reading

20 Average Monthly Expenses to Include in Your Budget

Whether you’re creating a new budget or refreshing an old one, you’ve probably noticed how important (and difficult) it is to get your monthly expenses right. Underestimating or missing an expense can throw your spending strategy into disarray, so it’s helpful to have guidance on the budgeting norm. To help you get it right, we’ve assembled a list of the most common average monthly expenses.  20... Continue reading

Financing the Family Vacation

With Memorial Day coming up, summer and the travel season are officially kicking off. Everyone is planning to get out of town and have some fun in the sun. Family vacations are all about bonding and having fun, but unlike when a group of friends travel together and split the costs, it's usually Mom and Dad who foot the bill. Planning how to finance your vacation ahead of time can eliminate the... Continue reading

Rollover IRA: Rules, FAQs & How-To’s

When you have money in a 401(k) or other type of retirement account, you may need to move it if you leave your job (or for other reasons). In this situation, you may consider transferring the money to a type of account known as a rollover IRA. What is a rollover IRA? A rollover IRA is an individual retirement account that can receive funds from a 401(k) or other type of retirement account.... Continue reading

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