Millennials Need To Manage Their Credit Score

Millennials are coming of age with the lowest interest rates in history and in turn the use of debt is at an all-time high. Younger adults tend to use credit cards to fund day-to-day purchases and may not know that how they use them can make a difference later. Living within your means and faithfully making your payments on credit cards and other obligations is essential to long-term financial well-being. But, it also helps improve your credit score. A high credit score is important because it proves your creditworthiness and will help you secure better borrowing terms when the time comes, such as lower interest rates on your mortgage or car loan. A credit score above 720 is generally th

Millennials Caught In Financial Tug-Of-War

Getting started as an investor may seem daunting when just starting out after college with student loan debt and bills piling up. There can be a tug-of-war between saving for short-term emergencies versus repaying student loan debt versus paying your monthly bills and credit card balances. All this occurs while being pressured to start saving for retirement that seems like light years away. So, where should you start? Build Emergency Fund. The first place to start is setting up an emergency fund with enough cash to cover at least one month worth of living expenses. The emergency fund is intended to help you pay for what you have not budgeted, like expenses not covered from a car accident

ABLE Act Can Help Families of Disabled Children

The ABLE act (Achieving a Better Life Experience) was signed into Federal law at the end of 2014 and brings with it a new savings vehicle for families with disabled children or adults. The act amends the current 529 college savings plan to include tax-exempt 529A savings accounts for disability-related expenses. Current law makes saving for disability-related expenses difficult because individuals risk losing federal benefits if savings exceed certain limits. Earnings on an ABLE account would not be taxed if used for qualifying expenses and the account funds would not be considered for the supplemental security income (SSI) program, Medicaid, and other federal means-tested benefits as long

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