‘Why Do People Use Debit Cards Instead of Credit Cards’
Is it better to live without using credit cards at all? Are you taking on too much risk by only using a debit card? Are you leaving free money and rewards on the table…
Personal Finance
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My father-in-law strongly dislikes debt and he wants to give us $1 million and I’m not sure we should accept it from him
Should you take a large financial gift from family members? This is an issue a Reddit user is facing. The original poster (OP) explained that he makes a seven-figure income while his wife doesn’t…
My daughter turned 18 and I won’t give her the trust fund because I’m afraid she will blow it
When you set up a family trust, are you legally obligated to share it with the people listed in it? Is it wrong to not give the beneficiaries access to the trust? What does…
My parents are in their 60s with $500k saved for retirement and will get $5k per month from Social Security – how much can they spend every month?
The median retirement savings balance among Americans in their early to mid-60s is $185,000, according to Federal Reserve data from 2022 (the most recent available). Now that figure may be a bit higher at…
I’m 32 and had a few rough patches financially after the military and I want to know what’s the best percentage to contribute to my 401(k)
Fidelity says that by age 40, you should aim to have enough retirement savings to replace your salary three times over. So by age 32, you’re hopefully in the habit of steadily funding a…
3 Social Security Moves for 2025 That Could Raise Your Future Benefits
As of November 2024, the average retired worker collecting Social Security received a monthly benefit of $1,925. Your monthly benefit, however, will hinge on a variety of factors, including the age at which you…
Most Americans Don’t Realize How Much Money You Can Make Right Now
Although the past few years have been brutal for borrowers from an interest rate perspective, they’ve been fantastic for people with money in the bank. For much of 2023 and 2024, 5% CD rates…
We are in our 50s with $8 million in net worth and are worried about telling our children just how much money we really have
Should you tell your kids they are on track to receive a large inheritance? A Reddit user posted this question recently. The original poster (OP) said that he and his wife have a net…
My Mother-In-Law is moving in with us. Can I pay her as an “employee”?
Does it make sense to pay family as employees instead of simply giving them money if you want to support them? Are there any specific laws that prevent someone from paying family a salary?…
I have $5.3 million in cash sitting in an IRA and I’m nervous about throwing it all back in the current market – what are my options?
One of the most challenging aspects of finances is knowing what to do with money you want to put away for retirement. Whether you choose bonds, ETFs, stocks, IRAs, or something else, you have…
What is your IRA spend plan in your retirement years?
The prospect of retirement and leaving the drudgery of the workforce is an appealing prospect for many. The topic of retirement savings and investing strategies in order to maximize portfolio growth subsequent to retirement…
I’m 44 With $2 Million in Retirement Savings. Am I Behind?
Without revealing my exact age, most of my friends, at this point, are roughly in their late 30s to late 40s/pushing 50. That means the majority aren’t on the cusp of retirement, but are…
I’m 29 and will be helping my 70 year old grandmother in her retirement and my mom is being resentful – does she have a point?
The Aging Parents subreddit contains posts from Redditors who have to navigate life with aging parents. As people get older, they gradually lose the ability to do basic things and take care of themselves.…
I went from thinking $1k was a big deal to finding out I inherited $600k and now I’m losing all sense of value
It’s not untrue to say that everyone has a different sense of money, which is very much okay. What’s expensive to me might not be expensive to you, and vice versa. The same goes…
Why do people use credit cards that earn miles instead of credit cards that earn straight 2% cash back?
I found this question on Quora, and I feel that it’s a fair question. There are so many different types of credit cards. Some have benefits such as cashback, as the question points out,…