melissa lelaind

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Is the Amex Business Platinum Worth the Annual Fee?

The premium credit card category has become crowded in recent years, resulting in a boon for the consumer. As competition heats up, banks feel …

An investor who helps manage money for the super-rich has a simple tip for building wealth, and you can start doing it today

It's just two words: compound interest.<p>Understanding the power of this concept, and more crucially, putting it to work by saving, is crucial to building wealth over time, according to Katie Nixon, the chief investment officer at Northern Trust Wealth Management, which has $287 billion in assets …

Student Loans Are Rough, But There Are Different Ways To Pay Them Off

First comes the countdown to graduation, then comes another suspenseful period: the six-month grace period of loan deferment. For many students who …

5 Biggest Trends That Will Affect Your Money in 2018

And how to capitalize on them.<p>On a day-to-day basis, Wall Street seems to have the attention span of a gnat. One day, stocks sell off because of …

Investing

A minute-by-minute breakdown of how Congress's shutdown drama just went from bad to worse

With a government shutdown looming, Tuesday was set to be a day of bipartisan dealmaking between Democrats, Republicans and President Trump. By lunchtime, it was clear Tuesday was actually going to be a day of bipartisan blaming.<p>After Trump tweeted he didn't see a possible deal with Democrats, …

Republicans

5 Things to Know About the New Senate Tax Bill

Republicans give business a big tax cut<p>Republicans’ effort to reform the U.S. tax system took a big step forward early Saturday morning, when the …

Economics

The G.O.P. Tax Plan Can Be Confusing. Here’s Help Deciphering It.

The Republican tax plan would have far-reaching effects on virtually every American, but it’s fair to say tax policy is not the easiest subject to follow.<p>If you haven’t kept up with the story as much as you feel you should have, or if you’re wondering where to focus your attention, we hope this …

Health Care

Here's what's in the Senate tax bill - and how it differs from the House's bill

Republicans crossed another major hurdle in their effort to get a tax bill to President Trump's desk by Christmas.<p>In the early hours of Saturday morning, the Senate passed a sweeping tax overhaul bill in largely party-line vote.<p>Just one Republican, Tennessee Senator Bob Corker, voted against it on …

Personal Finance

Financial advice from Jay-Z’s lyrics you should follow — and avoid

This article is reprinted by permission from NerdWallet.<p>Jay-Z has amassed a fortune estimated at $810 million from his 13 platinum albums and …

Personal Finance

Republicans Love Welfare—for the Rich. It’s Called the Carried-Interest Loophole.

Despite Trump’s promise to shut down the tax break that mostly benefits hedge-fund managers, it’s still there in both versions of the Republican tax …

3 smart investments you can make with just $500

You don't need thousands of dollars to get started investing.<p>If you want to get started investing but don't have a ton of money to invest, don't let that fact discourage you. While it's true that you need at least a few thousand dollars to create a properly diversified portfolio of individual …

I just visited someone with one of the highest-paying jobs in the US and was blown away by how little he spends

Another casualty of low income was a healthy diet. Dinners during those years consisted almost entirely of spaghetti. I'd make a huge bowl of noodles on Sunday evening and store them in a big plastic container. I'd reheat them along with some cheap spaghetti sauce for dinner almost Every. Single. …

The groundbreaking app turning millennials into stock traders is now said to be worth more than $1 billion

The new round of funding is reportedly led by Yuri Milner's investment arm, DST Global, and values the investing app at over $1 billion. That makes it a "unicorn" in Silicon Valley terms.<p>Robinhood declined to comment on the new funding round. Fortune previously reported that the startup was looking …

The Benefits of Comprehensive Financial Planning | Investopedia

Whether it’s during your research or in talking with a financial professional, when it comes time to create a roadmap for your financial future, you …

Retirement

12 small lifestyle habits you can adopt to save more money

Do you drop $10 to $15 on fast-casual lunches every day? Are you quick to buy something you don't actually need? Do you make purchases to keep up with the same level of luxury your friends enjoy?<p>These seemingly small habits, and many more, could be keeping you from saving hundreds, even thousands, …

Achieving a high credit score is easier than you may realize

Americans would probably be lost without their credit cards. According to ValuePenguin,* the average balance-carrying household had more than $16,000 …

FICO CEO Explains How to Improve Your Credit Score

By<p>Updated July 10, 2017 4:14 p.m. ET<p>Your credit score determines whether you can get a credit card or a mortgage, and how much you’ll pay in …

Personal Finance

Keeping your money too close to home could cost you

If you’re an investor, the ideal opportunity would be one that promised you great return for little risk. But, in reality, hitting that one perfect bet is tough, if not impossible: a company’s revenues can shift, its industry may fall out of favor, or economic news may suddenly paint a different …

Investing

Should you buy a home or keep renting?

Five questions to answer to determine which works better for your long-term finances—and your happiness.<p>For generations, buying a home was considered …

How Crazy Successful People Beat Stress

Stress. Yes, we all have it. And yes, you can manage it like a boss.<p>How's your stress level? Well, whatever it is, know that it's human to stress.<p>But the good news is that we can manage it, and certainly minimize it, by making some positive changes. That is, of course, all dependent on the life …

Self-help

The Five Most Important Years for Your Financial Life

To secure your retirement, make the proper moves at a few key moments.<p>When you’re saving and investing for retirement, you can make a lot of progress …

Retirement

7 rookie investing mistakes — and how to avoid them

In the wake of the Great Recession, being a little wary of Wall Street is understandable. But it shouldn't keep you from investing in the stock market. In fact, not investing means you may be missing out on one of the greatest instruments for wealth-building out there.<p>But steering clear of stocks …

7 tax strategies the rich don't want you to know

Charlie Crowhurst / Stringer / Getty Images<p>You work hard for your money but, unfortunately, Uncle Sam takes a bite out of every paycheck for income and other taxes. And if you’re in the middle class, you probably think that bite is a little bit too big.<p>According to a 2015 Gallup poll, nearly half …

Here's how much you should have saved up for retirement by now

Everyone knows that they need to save money for retirement. Eventually.<p>So the question, really, is just how much should you be saving at <i>your age</i> to retire comfortably?<p>In their Guide to Retirement, JP Morgan Asset Management outlined answers that might help you visualize how much you should have in …

The Secret to Happiness? Spend Money on Experiences, Not Things

We like buying things, at least we think we do. It’s bred into us. Life in the 21st century is a fast paced, consumer oriented experience where media surrounds us at all times enforcing the idea that happiness is a matter of buying the perfect house, driving the best car, wearing the trendiest …

Personal Finance

A woman who studied over 100 millionaires came up with 18 questions to predict wealth

It wasn't until she was 24 years old, over $70,000 in debt, and in a job she hated that she made the effort.<p>"It was under these conditions that I took the first major step toward building a new, fulfilling life for myself," writes Masters, who wrote under the name Tardy, in her book, "The Eventual …

5 Things to Consider Before Making a Roth IRA Conversion

Source:SeniorLiving.org via Flickr.<p>Roth IRAconversions are popular, and rightly so. The Roth IRA, with its unique tax advantages, can be a powerful financial-planning tool. However, rolling funds from a traditional IRA into a Roth is not the right move for everyone.<p>Here are five things to consider …

3 Reasons Not to Retire Before 66

Many working Americans jump at the chance to retire early. It's estimated that nearly half of the U.S. population stops working by age 63, and because you can file for Social Security beginning at age 62, some folks call it quits right then and there.<p>Of course, there are benefits to retiring …

Retirement

The Only Way Millennials Can Afford To Live In Big Cities

We're not counting "have rich parents" as an option.<p>Millennials can absolutely afford to buy homes -- as long as they don't mind living in a house smaller than a toolshed.<p>In over half of the biggest U.S. cities, the typical millennial can't afford a 1,000 square-foot home, according to a recent …

How to plan your retirement income to avoid taxes

Before you have to start taking required minimum distributions (RMDs) from your retirement accounts, you’ve got an opportunity to think about paying …

Retirement