Retire with MONEY

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Nov. 30, 2020 "Credit Repair: Should You Pay to 'Fix' Your Score?" Nov 30, 2020

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by Martha C. White When your credit is poor, it can be tempting to look for a quick fix. And if you pop on over to Google, you’ll find no shortage of services promising to goose your credit report, boost your score, and make you look like a better borrowing candidate (for a fee, of course). Experts beg to differ.

Nov. 25, 2020 "Meet the Teens Saving for Retirement" Nov 25, 2020

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by Mallika Mitra JaVon Colbert hides his money from himself — in his car, in his room, in all his bags. Storing those dollars helps the 18-year-old feel safe from the financial struggles he experienced earlier in life. When Colbert was young, his mother went into debt after buying an apartment to rent out for some extra cash on top of her main job as a factory worker at Toyota. After a few years, though, the rentals at the apartment in Cincinnati, Ohio, dried up.

Nov. 23 2020 "A 3-Step Life Insurance Check-Up You Should Do Right Now" Nov 23, 2020

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by Paul Reynolds It's corporate open enrollment season, time to look at your health and other insurance coverage. Life insurance benefits are often provided free to the employee, which makes them practically a no-lose perk — and one you may not even have to register to get. If there’s any downside to this coverage, experts say, it’s that they may make workers complacent about their long-term insurance needs, and so risk being underinsured. Here’s a plan to fight complacency.

November 20, 2020 "Finding a Home Is so Hard Right Now That Buyers Are Scouring Obituaries and Divorce Notices" Nov 20, 2020

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by Aly J. Yale No homes for sale in your desired area? Then just pick out a property and call up the owner. You could also check obituaries, dive into local property records or head to social media for potential homes to buy. At least that’s what many real estate pros are doing. “Creativity is key in this type of market,” says Adrienne Allen, head of real estate at homebuying platform Homie.

Nov. 19, 2020 "This Is the Fastest Way to Raise Your Credit Score" Nov 19, 2020

Show notes

by Martha C. White If you’re gearing up to borrow money for a car, home, or another big purchase, you already know how important it is to have a good credit score. What’s less clear, usually, is how to boost that score if you need money ASAP, and your current one leaves you with a less-than-ideal interest rate. It’s a tricky feat, to be sure. But it can be done. Your credit score has five components, and while all five are important, only one can be changed quickly.

Nov. 18, 2020 "Is It Worth Paying for a Password Manager?" Nov 18, 2020

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by Julia Glum Amid the explosion of COVID-19 phishing emails, fake coronavirus “treatments” and pandemic unemployment scams, it’s easy to forget about the basic steps you should be taking to protect your identity online. Major data breaches are still happening.

Nov. 17, 2020 "The Window for Penalty-Free 401(k) Withdrawals Closes Soon" Nov 17, 2020

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by Mallika Mitra In 2020, the holiday season brings an extra year-end deadline to keep in mind: Dec. 31 is the last day to make penalty-free withdrawals from your 401(k) under the CARES Act. With the passage of the CARES Act in March, Americans affected by the pandemic were allowed to withdraw up to $100,000 from their retirement accounts without the 10% early-withdrawal penalty people under the age of 59½ usually face.

"7 Types of Missed Bills and What They Do To Your Credit Score" Nov 16, 2020

Show notes

by Alina Dizik Maintaining a good credit score can feel like a game at times. The algorithms credit reporting agencies like Equifax use for assessing creditworthiness are confidential — making the consequences of missing a bill or taking on more debt hard to predict. Still, experts say, certain missed payments can do serious damage to your credit score, especially if you’ve got a healthy one.

Nov. 13, 2020 "Lockdown Converted Many Americans Into Serious Savers. Now They Have Houses to Show for It" Nov 13, 2020

Show notes

by Aly J. Yale Saving enough for a down payment has long been a hurdle for hopeful homebuyers. Even at the low end — just 3% of a home’s sale price — buyers are looking at nearly $10,000 on a median-priced house. To put down 20% — and avoid the costs of private mortgage insurance — buyers would need $65,000.

Nov. 12, 2020 "What Can Student Loan Borrowers Expect Under a Biden Presidency?" Nov 12, 2020

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by Kaitlin Mulhere The chances for major student loan relief likely shrank last week, even as the country elected a president who has promised to address the pervasive problem of debt. President-elect Joe Biden ran on a campaign loaded with education platforms, including ideas to reduce the burden of student loans on many of the country’s 45 million borrowers.

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