It is never a good idea to settle for a savings account without conducting thorough market research. You may compare the benefits that are offered by different banks and make a decision based on your preferences. It is advisable to choose an account that pays a higher interest so as to make the most of your selection.
Following are the top ten savings accounts you may consider.
Salem Five
This bank offers a savings account which is known for the best yield, which is available at a rate of 2.05% APY.
Customers Bank
The savings account from this bank is also acclaimed for a high yield, which stands at 2.03% APY.
Northpointe Bank
The savings account offered by the bank is one of the 10 best savings accounts due to the high yield rate of 1.95% APY, which has made it ideal for savers. You can also open a savings account online.
Utah First Federal Credit Union
This savings account from this credit union is ideal for credit union customers and it offers a yield of 2% APY.
CIBC Bank USA
This bank offers a savings account with a competitive yield, which stands at 1.90% APY.
Citizens Access
With a 2% APY, the savings account from Citizen Access is one of the 10 best savings account based on the yield.
Radius Bank
The savings account offered by Radius Bank offers a yield of 1.86% APY.
PurePoint Financial
With an APY of 1.90%, the savings account offered by PurePoint Financial is known for a high yield and you can easily access the account across different devices.
Incredible Bank
The savings account offered by this bank has a high yield of 1.88% and has no monthly maintenance fees as well. This is one of the many reasons consumers prefer this savings account from Incredible Bank.
Popular Direct
Popular Direct is also a well-known bank that offers savings account has a high yield of 1.88% APY.
If you are seeking a high yield from your account, you may compare the best accounts based on the APY and choose the one with the highest yield. If you are seeking convenience and no maintenance fees, you can explore a little more for the banks that offer the same. There are endless options for you to choose from. You may base the decision on how easy it is to withdraw or deposit funds, or on how much will your money grow over a period of time.
With an increasing number of medical plans available today, it could become confusing to make a choice. Medicare Advantage Plans will give you coverage, very similar to Medicare, for your medical expenses. In a lot of cases, you will be required to get rid of the Medicare basic plan in order to be enrolled with a Medicare Advantage plan.
When choosing Medicare Advantage Plans for 2018, you need to keep in mind that those facilities which are not a part of the network would also be covered. In case of an emergency, you will have to go to that particular facility only in order to be fully covered. Therefore, it is best to choose a Medicare Advantage Plan which is available in your area so that it adds to your convenience.
What do Advantage Plans do?
The Medicare Advantage Plan provides you with additional benefits that other Medicare plans fail to offer. It offers you an extensive coverage which looks after different aspects of your medical expenses. The plan will cover you for emergency care, prescription drugs, and a lot more.
If this is your first plan, you should start with the AARP Medicare Advantage Plan for 2018. It has a strong reputation for excellent service and is highly preferred by many. The Aetna Medicare Advantage Plan is also a popular choice among people who end up spending a lot on healthcare-related costs. This is because the plan covers various medical costs and emergency costs, which if you pay from your pocket, maybe a huge sum.
However, before you invest in a plan, you need to know the coverage and the type of service the plan offers. Even two identical plans may have different methods of coverage. Remember, you will not always get the coverage which you might want if you visit a hospital which is not a part of the network of the insurance company. You will only be able to enjoy the full facilities if you visit the network hospital.
There are different network plans you may choose from. Every plan will come with certain variations, but the clause about network location remains the same. In case of emergency, if you are admitted to an off-network hospital, you will receive some coverage, but not a complete coverage as per the plan. You can also look and research for Medicare Advantage plans of 2017. You must compare the costs and benefits of different plans before making a decision.
Most individuals are covered under the original Medicare policy. However, they are not aware of the fact that Medicare does not cover dental expenses. It does not provide for dental care, supplies, dental procedures like cleaning, fillings, dentures, tooth extractions, dental plates, or any other devices. If you get admitted to a hospital, Medicare Part A will pay a certain amount for the same only if you have emergency dental procedures.
Oral health must not be ignored. If you need a dental procedure, you may end up paying a huge amount from your pocket in the absence of a dental insurance plan. Therefore, it is best to invest in dental insurance plans so as to maintain the best dental health and hygiene economically. Dental insurance plans are available from private insurance companies and offer varied coverage. The cost of the same will also vary according to the plan.
Advantages of a dental insurance policy
The benefits of availing a dental plan include the following:
Most plans do not have a waiting period, but this varies from state to state and plan to plan. The coverage will include a range of services and procedures which will improve your oral health.
What to look for in a dental insurance plan
Even if you have a Medicare plan, it is best to purchase a dental insurance. You can compare different plans and choose the one based on your requirements. Some of the prerequisites of a good plan are as follows:
The cost of treatment and expenses will be covered under the dental insurance plan and you will not have to bear the expenses on your own. It is advisable for seniors as well to purchase this plan. The supplement plan is designed to provide an additional coverage to the original health insurance plan.
Working class citizens need to file their tax returns each financial year. However, citizens need not shoulder a tax burden as they have the right to claim certain deductions or exemptions. This can prove to be a relief. On an average, a citizen’s income tax rate ranges anywhere between 10% and 39.6%.
Need for an online tax calculator
Besides personal income tax, the other forms of payments that citizens could be required to make are generally state taxes, Social Security, Medicare, and indirect taxes. As a result, calculating taxes manually may prove to be a tedious task for someone who is not used to making such calculations. This is where an online tax calculator comes to your rescue.
There are a plethora of options available for tax calculators online to precisely solve this problem. Using it is a pretty simple process and a much valuable one since eventually, it will determine a detailed analysis of the payments to be made and how much a person stands to take home on an annual or even a monthly basis for that matter.
How to use an online tax calculator
To use the calculator, start by filling in your gross income or salary. After this is the “filing status” since you have the option to file your taxes along with your partner if you are married. Different state governments tend to charge different tax rates. The next option is based on this to lend more precision to the tax amount. The calculator will also ask the number of dependents you have which could be in the form of children, spouse, or aged parents. Lastly, all monthly deductions or the contributions you make in different funds such as a retirement plan or to the Federal Insurance Contributions Act (FICA) costs need to be added as well.
With all standard deductions implied and depending on the government’s tax brackets imposed, an online tax calculator helps you to determine your net income and plan for the long-term, besides calculating your tax liabilities.
An online tax calculator will help you efficiently calculate your taxes.
If you think you are eligible for a federal grant to meet your tuition fees, you need to be aware of the method of application for the same. The eligibility criteria for a grant may vary from time-to-time and you need to check whether you are eligible for one. If you are and if you wish to apply for grants, there is a specific procedure you will be required to follow. Grants are basically financial aid which you do not need to repay.
How to apply for a grant
To apply for a free grant, the first step is to submit the Free Application for Federal Student Aid form. You will need to fill this form every year so as to remain eligible for the grant. The form will require you to fill out some information about your income, your parent’s income, and your assets so as to determine your financial condition and your ability to pay the tuition fees. Once you fill the form, you need to work with the college you are applying to. Apply for grants at the college of your choice, and you will get an insight into the amount you will receive and the time period within which you will receive the money.
Writing a grant proposal
The grant proposal will decide whether you will receive the grant or not. Therefore, it is important to write an excellent proposal to the one funding your education. The grantmaker should be convinced with your requirement for funds.
The grantmaker will then look into additional documents which you may have to attach as proof. They will scrutinize your application and documents before a decision is taken. You need to keep in mind that the grant maker receives numerous applications every year, and therefore, they take time and research well before they give a grant to a student. So, if you wish to apply for free government grants, the foremost thing you need to learn is to write a convincing grant proposal.
Apart from student loans, there are loans for parents who want to help their children get through college. Known as the Parent PLUS loan, parents of dependent undergraduate students can avail of this. There is a fixed interest rate on the same and it has flexible repayment terms. It is important that parents have a good credit history in order to be eligible for such a loan.
Before taking a Parent PLUS loan, it is important to understand if the child has exhausted the eligibility for his/her loan. This is because all student loans have a low interest rate which means that it is ideal to opt for a student loan first. Many parents borrow to ensure that their children do not have too much debt on themselves. However, as parents, you can help your children repay the student loan as well. It is not necessary to apply for college loans for parents.
How to apply for a college loan for parents
In order to apply for the loan, you will be required to make an application at the office of the college or university the child is enrolled in. You will have to request for the loan yourself. Additionally, the student must be enrolled in the school and the funds must be used for his or her educational purpose only. There are two repayment periods you can choose from. Consider the requirement of funds for the payment of tuition fees and then weigh your options. As mentioned above, the first alternative is to apply for a student loan and if the limits on the same are exhausted, you may choose to apply for college loans for parents.
Important features of college loans for parents
The purpose of the loan is to make it easier for students to have access to high-quality education. Parents need to apply for the Parent PLUS loan and it will be disbursed when all the required documents and the filled-up application form are submitted. The maximum amount that the parents may borrow on the loan is the cost of tuition fees, books, and housing. At the same time, it is important to note that there is no annual limit on the amount that may be borrowed. However, you should try to avoid debt by borrowing only the amount which is necessary for the payment of education costs so as to keep your debts in check.
Whatever your gender or age maybe, planning for retirement is an important step you need to take at the right time. You spend an entire lifetime working to earn money. Therefore, it is important to ensure that this money provides enough finances for you when you retire. Every individual wishes to enjoy retirement in a stress-free manner and if it is planned for, it will be possible to achieve the same. Using the best retirement planning tools will help you ensure that you have enough funds to last you as long as you live.
There are two popular types of tools you can use for planning your retirement efficiently.
Questionnaire
One of the easiest tools you can use is a Questionnaire that may help you fix your investment mix. When you invest your savings for the purpose of retirement, you need to be realistic about it. You need to consider your risk appetite and the volatility in the market before you make a decision to invest in a particular asset class. Your investment strategy should help you generate maximum returns at a low risk. Keeping in mind long-term investment, answer the questionnaire available online and re-assess the allocation of assets on your portfolio. It is advisable to build a diversified portfolio so as to reduce the risks and maximize returns. Do factor in the market volatility before you make a decision. When you arrive at the perfect mix of debt and equity-based assets, you will be able to determine the amount you need to invest for the purpose of retirement.
There are different types of questionnaires available. You can choose one that fits your needs best.
Calculators
There is no denying the fact that a retirement calculator may help you with any sort of planning related to planning for your golden years. It is one of the best types of retirement planning tools and will help you make the most of your investment and tax-saving plans. You can use the calculator to determine the amount of investment you need to make to build up a retirement fund. It will also help you determine the amount of money you will receive once you retire. Just factor in the accurate details regarding your income, the amount you have already saved, the amount you plan to save each year, the tenure, age, and your gender so as to get an estimate of the amount you will retire with. You can choose from a plethora of options available for retirement calculators.
These retirement planning tools will help you make a well-informed investment decision for a relaxed retired life.
An individual retirement account (IRA) is similar to a savings account that helps you save for retirement and make the most of tax savings. IRA accounts have two types—one is a traditional account and the other one is a Roth account. It is a retirement plan provided to individuals by various financial institutions in the country.
There are several plans you may choose from. It is important to consider your requirements and go for a plan that fits your needs. Some of the best companies offering IRA plans have listed below.
Ally Invest
Ally Invest provides one of the best structures for an IRA. It offers unlimited options for investment and has the lowest fee structure in the market. It offers managed portfolios that require a minimal investment of around $2500 and has an annual fee as low as 0.30%. It gives you an option to have your entire portfolio managed by professionals. However, you must remember to maintain the minimum balance, else you may have to pay a penalty of around $50 per annum.
Betterment
Betterment is a huge investment advisor. It offers a managed portfolio, and you are only required to fund your account. The professional managers will allocate the portfolio between debt and equity instruments. It does not require any initial deposit.
Wealthfront
Wealthfront offers one of the best IRA retirement plans in the market. It offers low-cost professional services for your IRA and is an ideal platform to grow your investment. They offer a diversified portfolio of debt and equity and also has a range of alternative investment options. An IRA account may be opened with an amount as low as $500 and the advisory fee for the account is around 0.25%.
E*TRADE
E*TRADE offers an ideal mix of investment options with a low pricing. The stocks and mutual funds may be traded at a low cost, and there are more than 1000 mutual funds to choose from. With more than 30 physical locations across the country, it is an ideal option. It neither has any annual fees nor does it require any minimum account balance.
Choose the best IRA retirement plan based on your investment criteria and long-term financial goals. Professional management of your portfolio will allow you to maximize your wealth and generate higher returns on the same. At the same time, with a diversified portfolio, you will be able to reduce the associated risks.