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26 Investment Strategies to Simplify Your Portfolio and Save Money on Fees

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Many of us get monthly statements from banks, brokerages, mutual funds, and retirement plans. As a matter of fact, nearly half of American Association of Individual Investors respondents (49%) reported having two or more brokerage accounts. The ETRADE Core Portfolios robo-advisor is managed by one of the largest online brokerage firms.

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Set Your Money on Autopilot: How to Save with Financial Automation

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An IRA (individual retirement account) can be opened at a brokerage firm if you aren’t eligible for an employer plan. You no longer have to manually put money into savings because automation makes it the default. That means when you defer 3% of your salary, they will match the first 3% of your contributions for a total of 6%.

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Unpacking Financial Jargon

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It doesn’t matter if you’re dealing with a brokerage firm, investment bank, or a mortgage company. Recourse factoring – a form of factoring in which the factor will not absorb credit losses that result in an account debtor defaulting on an invoice. All of a sudden, you’re speaking a foreign language.

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Mortgage Refinancing: How Does It Work?

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However, lenders may only offer this to homeowners who have defaulted on mortgage payments and are facing foreclosure. Eligible borrowers must prove they’re facing financial hardship and are at risk of defaulting on a mortgage. As a result, the monthly payments are reduced to a level you can realistically afford.

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A Non-Salesy Annuity Guide To Buying Annuities

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Choose how you’ll pay these, either from a savings account, brokerage account, or some other source. If you withdraw money from a brokerage account or tax-advantaged account to buy an annuity, you might get hit with taxes. Next, pay the required premiums. It can be a lump sum or a series of payments.

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8 Ridiculous Mistakes You’re Making with Your 401k – What Should I Do During Crazy Times?

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You would contribute to a taxable brokerage account, into which you could buy individual stocks, mutual funds, or ETFs like the S.P. When signing up for a 401(k), it’s not uncommon for people to accept the default investment option, usually a target-date fund — which is again based on their projected retirement age.

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The 8 Best Places to To Stash Your Retirement Savings

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Like investments in taxable brokerage accounts, retirement account funds can be invested. A Taxable Brokerage Account Most retirement accounts have a penalty for withdrawing money before you reach 59 1/2. Unlike many 401(k) plans, you can contribute as much as you want to a taxable brokerage account and invest it however you want.