Tag: What If
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How Tenant Insurance Works
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For renters, insurance is not always a top priority. For some people, it may be on par with getting insurance for alien abduction – an extra cost that doesn’t seem sensible. However, having renter’s insurance is an important way to protect your financial security, and landlords often require tenants to…
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The 11 Consumer Rights When Dealing with Debt Collectors
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You can ask a debt collector to stop contacting you To stop debt collector calls, send a written message explaining that you no longer wish to communicate with them. Yes, it’s really that simple. Once the collector receives your message, they are allowed to call you only once to inform…
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Wealth from Stocks: The Mathematics of Long-Term Investment
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Investing in stocks is considered one of the great things where it only takes one great deal and holding onto it for a long time to change the future of your family. Great wealth is generated from decades of holding stocks in companies that consistently generate growing profits. Some refer…
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Types of Accounts That Can Be Converted to a Roth IRA
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Roth Individual Retirement Accounts (IRAs) are retirement accounts that allow for tax-free growth of investments until retirement. Unlike other types of IRAs that are taxed on distributions, you must pay taxes on contributions to Roth IRAs in the year you make the contribution (or conversion). Other types of retirement accounts…
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What to do if your credit card is charged incorrectly.
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Credit card mistakes are more common than you might think. If you discover that your credit card has been charged the wrong amount, don’t worry. The issue can be resolved relatively easily – as long as you don’t delay. Working with the Merchant to Resolve the Error Start by contacting…
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What is the average health insurance premium?
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The cost of healthcare in the United States has changed significantly. In 2020, annual healthcare spending in the U.S. increased by 9.7%, reaching a record high of $4.1 trillion, or $12,530 per person. As a percentage of the nation’s gross domestic product (GDP), healthcare spending accounted for 19.7%. These figures…
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Current Returns vs Average Annual Returns
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Introduction Past returns can be misleading unless you know how to interpret them. Most investment returns are presented in the form of an annual return. This is the amount that an investment earns from profits, distributions, capital appreciation, and other sources over a defined period of time. These returns can…
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What happens if I don’t have health insurance?
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What if I don’t have insurance? Health insurance in the United States can be expensive. Even if an employer offers a health care plan, out-of-pocket costs can be high. From 2010 to 2020, employee contributions to premium costs rose by 40%, outpacing wage growth, according to the Kaiser Family Foundation.…
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How much should you have in an emergency fund?
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Why Do Retirees Need an Emergency Fund? An emergency fund is essential regardless of your age, but not having one can be particularly costly during retirement. Having an emergency fund means you won’t have to dip into retirement accounts or 401(k) funds or other taxable assets to cover unexpected expenses.…
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Why is liquidity very important in commodities?
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Liquidity is one of the most important factors in the commodity market, where commodities are traded continuously and in large quantities. Liquidity means the ability to buy and sell assets easily without affecting the market price. Typically, liquid assets are safer than illiquid assets, as it is easy to enter…
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Should you pay the amount due on your credit card?
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Understanding how this will affect your credit What is the amount due? If you have not made the minimum payment for over 180 days, the lender is likely to consider your account due and declare it no longer an asset. When lenders close accounts, they consider them a loss and…
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How do student loans appear on your credit report?
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Student Loans and Your Credit Student loans appear on your credit report and affect your credit score, just like any other loan. How you manage your student loans can impact this, so it’s important to stay informed about your situation. How Student Loans Affect Your Credit Your student loans are…
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What is bankruptcy?
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Bankruptcy is a term that describes the situation in which debtors find themselves unable to repay what they owe to creditors. Individuals and businesses can be considered bankrupt if they are unable to pay their debts. Definition and Examples of Bankruptcy Bankruptcy refers to situations where a debtor cannot repay…
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Why do many Chapter 13 cases fail?
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Chapter 13 bankruptcy is sometimes considered a reorganization of bankruptcy. It sets up a payment plan that lasts three to five years to reduce or pay off your debts. The court reviews your assets and income when deciding whether to approve your plan, and the plans leave little room for…
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Monthly Payment Arrangement with a Bill Collector
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Setting Up a Payment Arrangement Submitting a payment arrangement depends on the debt collector’s assessment. Acceptance of the payment arrangement will depend on the collection agency, the debt, the amount you propose to pay, and sometimes the length of time the collector has for the debt. Note: The more you…
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How do real estate appraisals work?
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What is Real Estate Appraisal? Real estate appraisal is an objective and qualified analysis by real estate experts to determine the value of a property. Lenders typically use appraisals before financing property purchases. The lender wants to ensure that the amount borrowed does not exceed the value of the property.…
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Top 10 Frequently Asked Questions about Employee Benefits for Workers
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1. What are the types of general employee benefits that I may be eligible for? The types of employee benefits available for working individuals are virtually limitless, but most employers are required to provide minimum coverage under the Affordable Care Act. These generally include health insurance, prescription drug coverage, and…
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What is the present value?
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The present value is the value of a future sum of money expressed in today’s dollars at a certain interest rate. Present value relies on the concept of the time value of money, where one dollar today is worth more than a dollar received in the future. You can invest…
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What is the annual percentage rate (APR)?
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Definition and Examples of Annual Percentage Rate (APR) How Does Annual Percentage Rate (APR) Work? How Is Your Annual Percentage Rate (APR) Calculated? Types of Annual Percentage Rate (APR) Definition and Examples of Annual Percentage Rate (APR) The annual percentage rate (APR) for a loan is the total amount of…
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What is Order Fulfillment? Discover the Best Strategies of the Process (2024)
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Order fulfillment is a luxurious way to explain how people get the product they paid for. It is one of the final but most important stages in the sales process, and a poorly planned order fulfillment strategy can cost you a customer. What is Order Fulfillment? The order fulfillment process…
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What to Do When You Can’t Pay Income Taxes on Time
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You might be on the verge of panic if tax day is approaching and you know you can’t save enough money to pay your federal income tax by that date. However, you have options if you’re unable to pay the Internal Revenue Service (IRS) on time. Late Payment Penalties and…
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Is the backdoor Roth IRA worth the effort?
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Individual retirement accounts are a great benefit for retirement savings alongside a 401(k) or similar employer-sponsored plan. A Roth Individual Retirement Account (IRA) allows you to make qualified tax-free withdrawals in retirement. This can be useful if you are in a higher tax bracket. Discover whether a backdoor Roth IRA…
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More than 56% of adults in the United States support immigration reform.
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More than half of adults in the United States support the immigration reform policies outlined in President Joe Biden’s “Building a Better Future” plan, according to a survey conducted by “The Balance”. Although immigration reform was among the least popular initiatives in the “Building a Better Future” plan (lowering healthcare…
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10 Types of Credit Cards to Suit Your Needs
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There are hundreds of credit cards available across many credit card issuers. The first step in choosing your first credit card is to determine the type of credit card you want based on your needs. The types of credit cards available range from basic cards with no perks to premium…
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Rules for Withdrawing and Distributing Funds from a Traditional IRA Account
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A traditional Individual Retirement Account (IRA) can be a great tool for retirement savings, but it can also be a fantastic tool for tax planning with some immediate tax advantages for those who qualify. Tax Withdrawals from Traditional IRA With the exception of recovering previous non-deductible contributions, all withdrawals from…