Once you hit age 73, IRS rules say you must start taking required minimum distributions (RMDs) from your traditional retirement accounts — even if you…
EmirMemedovski/Getty Images If you’ve ever loaned a car to a friend — maybe one with a less-than-perfect driving record — you may have wondered how car insurance applies when a non-owner gets behind the wheel.…
The U.S. had new millionaires emerge at quite a clip last year. UBS said its Global Wealth Report, released Wednesday, found America gained more than 379,000 new millionaires in 2024. It notched the biggest increase in new millionaires “in absolute growth terms” out of the dozens of markets that UBS looked at…
Annuities are often marketed as a safe and reliable source of income, especially in retirement. They come with the promise of steady payments — a sort of paycheck replacement designed to offer peace of mind to risk-averse retirees. But what happens if the insurance company backing your annuity goes broke?…
PC Photography/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Mortgage insurance is a fee you pay to your lender to cover risks associated with funding your loan. Different loan types have different kinds of mortgage insurance, which may require either upfront or ongoing, monthly premiums, or both. Some loans…
STEVE ALLEN/SCIENCE PHOTO LIBRARY/Getty Images Key takeaways Index funds can be one of the best ways to invest over time because they can provide investors with diversification at low costs, but index funds come with some drawbacks. Although index funds include a wide range of companies, those with a bigger…
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The nonpartisan Congressional Budget Office (CBO) released a new dynamic analysis that found Republicans’ “big beautiful bill” would raise budget deficits by over $300 billion more than in its previous analysis, which estimated it would widen…
