For seniors struggling with expenses, a reverse mortgage may appear to be a practical option. Though such a lifeline seems appealing, a closer look may say otherwise. The industry is rife with scams; fees are high and often hidden. In addition, reverse mortgages may have variable interest rates, so you may wind up owing more…
Medicare Made Clear—What You Need To Know Before You Sign Up
When you reach 65, you will probably need to sign up for Medicare. This government-sponsored health care program is available to U.S. citizens eligible for Social Security. Before you rush to sign-up, there are some things you need to know about Medicare that may affect your choices. What Are You Signing Up for? Medicare Part…
Social Security Benefits Are Not Prorated
June 21, 2022
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Benefits for WidowsBrightEstatepersonal financeretirementRetirement AccountsSocial Securitysocial security benefitssocial security checksspousal benefitsWealth Management
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Q: It has always puzzled me why Social Security takes back a person’s Social Security check for the month he or she dies. My aunt died in April, and as her executor, I was counting on using her last Social Security check to pay off some of her bills. But the government took that money…
If the IRS Calls, Don’t Answer: Don’t Get Hooked by Common Scams
Every year, various types of scams make their appearance. Scammers successfully steal millions of dollars annually through cleverly designed efforts to fool the unaware. Since COVID-19, the IRS has sent out multiple warnings that scammers are more active than ever. Recently, the IRS warned consumers to beware of three types of scams. If you’re waiting…
4 Quarterly Tax Reporting Mistakes You Don’t Want to Make
Most entrepreneurs don’t get too excited about filing taxes. Self-employment taxes can be high and it can also be a challenge to keep all your financials organized throughout the year. The fact that you might have to pay taxes four times a probably won’t help your enthusiasm either. Paying taxes are inevitable though, and you’ll…
How to Track Down Lost or Forgotten Assets
Finding extra cash in your coat or pants pocket is always a delight, but there are other hiding places where the rewards are higher. Many Americans are unaware of lost or forgotten assets. These assets could be anything from an old insurance policy to a refund or a lost paycheck. Finding and cashing in on…
12 Ways to Bank Smarter: Simple Tips and Tricks to Increase Your Wealth
By Karen Bennett and Matthew Goldberg From Bankrate.com Banking can be complicated, with thousands of banks to choose from that each offer an exhaustive set of disclosures and fine print. And then there’s the rates and fees, all of which need to be considered carefully before you sign on the dotted line. But these tips…
Congratulations, Grad! Now, Look Out for These Personal Finance Mistakes.
June 13, 2022
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Brightbudgetingcollege graduatesFuture Planningmoney-managementpersonal financespending trackerWealth Management
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Now that you have successfully become a college graduate and are looking to move on, there are some things you need to know about personal finances. The more you know, the more you can avoid mistakes and losing money. Being able to handle money well is one of the most important things you can do….
What Is Subchapter S Corporation
By Entrepreneur Staff The S corporation is often more attractive to small-business owners than a standard (or C) corporation. That’s because an S corporation has some appealing tax benefits and still provides business owners with the liability protection of a corporation. With an S corporation, income and losses are passed through to shareholders and included on…
You’re Losing Money at Your Bank—9 Banking Alternatives that Pay Better
When was the last time you checked your savings account? If it’s been a while, I’m sure that you were expecting a big, juicy return. Guess what? You’re probably severely disappointed to find out that you’ve made almost nothing. Banks often pay low-interest rates on savings accounts, not mention the checking accounts. In May 2022, the national…
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