A defined-benefit plan, commonly known as a traditional pension plan, is a retirement plan funded by an employer that calculates employee benefits based on a formula that takes into account several factors, including age, employee’s salary, and length of employment. Defined-benefit pension plans, which still exist in some public-sector jobs, were common in the private … Read more
If you can’t accept the risks of the stock market, you need to decide on the best place to keep your money while maximizing earnings. Many look to high-yield savings accounts (HYSAs) and certificates of deposit (CDs) as options. Both offer safe and somewhat lucrative ways to grow savings with minimal risk. But which is … Read more
A personal loan can be a great way to pay for a home renovation project, fund a big expense, pay for a family vacation, or just cover unexpected costs that crop up. You can also use a personal loan to consolidate credit card debt and other outstanding balances, both to simplify repayment and save yourself … Read more
A money order is a financial instrument that allows you to pay bills or reimburse friends and family without having to write a check or use cash. You can get one from a bank, but you don’t need a bank account to use it. Many people use money orders as an alternative to cash or … Read more
According to a recent report by SafeHome.org, about 55% of renters have insurance. However, a survey from the report finds that 16% of renters who don’t have a policy say they are likely to buy one in the coming 12 months. If you’re buying renter’s insurance for the first time, you may be relieved to … Read more