Life is full of potential downsides; health problems, fire, theft, car crashes, market crashes, and even death. The purpose of managing risk in personal finance is to make sure when those down sides happen, they don't impact your goals.
Consumers who have had contact with Coceptive Credit Union should beware, all evidence suggests the organization is not an actual credit union and is breaking numerous laws by operating as a credit union in California.
The scariest thing I saw this Halloween was a series of articles giving the horrific advice to make an insurance claim for Halloween pranks. Following their advice will cost you much more than whatever money the insurance company pays out.
The most recent Equifax data breach has left the door wide open on personal security. Getting your credit report is just the first step in protecting your identity. To fully protect your identity, you'll need to go beyond the three big credit bureaus to protect yourself against banking fraud, tax fraud, Social Security fraud, and other criminal activities.
If you are wondering "should I freeze my credit?", give careful thought to the pros and cons of a credit freeze. Make sure you understand the hidden consequences of freezing your credit before making this decision.
In the wake of the Equifax Data Breach, consumers are justifiably fearful of their financial security and how the stolen information could be used against them. This fear, however, is creating an opportunity for scammers to extract even more information from consumers, or to make new victims by stealing information from people who are not part of the original security breach.
Equifax's offer to provide one-year of free credit monitoring service comes with an arbitration clause which waives your legal right to sue Equifax. Here is how to opt-out of the arbitration clause and preserve your rights to sue Equifax or join a class-action lawsuit.
The Equifax response to the 2017 cyberattack is a good start but falls far short of what is needed for the company to live up to their responsibilities. Equifax's current offer to victims does not address the magnitude of the damage which was caused by the breach, and the true cost of Equifax's mistakes will be borne by consumers.
The Equifax data breach may be the largest cyberattack to date. Learn who was impacted, what was stolen, and if you should be concerned. (Spoiler: You should be concerned)
The world of health insurance can sometimes seem overly complex. While you are probably familiar with a copay, the coinsurance provision can be confusing. Unfortunately, coinsurance also represents a much larger risk to your finances than copayments do.
Calculating the right amount of insurance is as much art as it is science. There are a wide variety of methods developed to calculate life insurance needs, including ones that rely on rules of thumb and make it easy to come to a number. Simpler methods make calculating your life insurance needs so simple you can do it in a few seconds with a calculator. But are they accurate?
Despite the fears of a bear market, don't focus on avoiding losses in your stock portfolio if you haven't reviewed your insurance recently. The biggest risk to your investment portfolio and your wealth isn’t a stock market crash, it’s a lawsuit.
Life insurance isn't a "set it and forget it" part of your financial plan. Each year you will need to review your life insurance needs and see if you have enough life insurance to provide for your family. Even though it's not comfortable, asking these questions each year can help you determine if your family has enough life insurance to provide for their needs.
Health Savings Accounts, Health Reimbursement Arrangements, and Flexible Spending Accounts all offer you ways to manage the costs of healthcare by providing a mix of tax savings, investment growth, and free money. Learn more about what each account does and the potential benefits they could provide you.
The annual out-of-pocket limit in your health insurance contract is one of the most important clauses for you to understand. Keeping track of the limit and knowing if and when you reach the limit can help save thousands of dollars in healthcare costs....
It may seem like a hassle, but you should use the open enrollment period each year to check the best possible prices and coverage options for you or your family. Each family member with employer-sponsored insurance should contact Human Resources or the plan administrator and ask...
Whether you've had an emergency or not, check your emergency fund regularly to make sure it still has enough money to rescue you from crisis. Click Here to read more.
Disability insurance protects you like life insurance, you just don't have to die to enjoy the benefit. Here's why you should look into getting disability insurance.
How often should you shop for car insurance? Considering the factors that determine your auto insurance premiums change every year, you should do an annual review of your car insurance to determine if you are getting the best rates.
Health Savings Accounts, if you qualify for them, provide you with a wide variety of advantages, including: lowering your income taxes, providing tax-free growth for investments, allowing you to increase your retirement savings caps, and giving you greater flexibility for spending your 401k and IRA funds.
Have a life insurance policy that you don't want anymore? Don't cancel it. You can sell it to an investor typically for between 50% and 80% of the death benefit, significantly more than the cash value.
Inflation is an insidious beast, and it’s surprisingly more dangerous than a market crash.
How would a slight increase in expected inflation impact your retirement plans? For the vast majority of my clients, inflation is the single biggest concern when stress testing the analysis and statistical models of their retirement plan.