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In response, on September 26, 2008, the FDIC Board of Directors issued an interim new rule that applies to coverage offered to “Revocable Trust Accounts.” Along with this new rule came the long-awaited permanent increase in FDIC insurance coverage from $100,000 to $250,000 per depositor, per insured depository institution for each account ownership category that was included in the Wall Street Reform and Consumer Protection Act signed into law by former President Obama on July 21, 2010....

While most members of the Federal Open Market Committee at the July 27-28 meeting said they believed the economy had met the Fed’s goal of “substantial further progress” on the price-stability front, they judged that employment had fallen short, the minutes released Wednesday indicated. As a result, the committee decided to continue supporting the economy with near zero short-term interest rates to keep borrowing cheap, and ample cash through its massive bond-buying program to keep money available....

Commonly called bond funds, fixed-income funds are simply mutual funds that own fixed-income securities such as US Treasuries, corporate bonds, municipal bonds, etc. These fixed-income funds come in many shapes and styles. Let’s start with five basic types of fixed-income funds. Treasury-Inflation Protected Securities (TIPS) Fixed-Income Funds TIPS are bonds issued by the US Treasury that pay a coupon on the adjusted principal of the bond. The bond is adjusted on a semi-annual basis with the rate of the Consumer Price Index (a measure of inflation)....

izusek / Getty Images Funds From Operations Calculation Real estate companies use funds from operations (FFO) as a performance benchmark, which is why investors can use FFO for the same purpose when considering a REIT as an investment. All the factors in the FFO formula can be found in the company’s income statement. These factors include net income, depreciation, amortization, and gains on sales of property. Here is the formula for funds from operations: The rules within the generally accepted accounting principles (GAAP) accounting requires that REITs depreciate their investment properties over time using one of the standard depreciation methods....

What are the pros and cons of entering into this type of arrangement? More importantly, what are the legal ramifications? We’ll discuss the various scenarios in which a joint mortgage might be a good or a bad choice, and explain the application process. Why Purchase Shared Housing? There are many scenarios in which you might want to take advantage of shared housing with a joint mortgage might be advantageous. According to Aaron Dorn, chairman, president, and CEO of Studio Bank in Nashville, Tennessee, shared housing can be a great option for people with non-traditional housing needs....

Buy an Immediate Annuity What’s the easiest way to achieve guaranteed retirement income? Buy it. This is exactly what you do when you purchase an immediate annuity. You use a lump sum of money to purchase guaranteed income. You can choose an option where the income will pay out for your entire ​lifetime or for joint lifetimes if you’re married. The purchase could be the deal of a lifetime for aspiring centenarians!...

You can find a temp job in almost any industry. By using the right agency, you can find a job that fits your interests and abilities. What Is a Temp Worker? Temporary workers (often referred to as temps) are part-time or contingent workers who are hired on a short-term basis. While there are many benefits to working as a temp, there’s one drawback: temp workers are often the first employees to be laid off during periods of economic downturn....

Hitting an Object Lying in the Road Hitting an object lying in the road can cause front-end and undercarriage damage to your vehicle, not to mention inuries to yourself or other passengers. Whether the object is road debris dropped by a pickup truck, a pothole, or a fallen tree, you’re looking at a collision claim. To make a collision claim, you need to have opted for collision coverage before experiencing your accident....

This situation can happen when you buy a car new because it depreciates thousands of dollars as soon as you drive it off of the lot—and continues to depreciate quickly for the first few years of use. It can also happen when you trade in a car and roll that loan into the new purchase loan. You will create a new loan balance that’s higher than the value of the car you just bought....

The number of U.S. homes for sale in March fell 1.1% to 966,970, according to data from Zillow, the online real estate company. That’s not nearly as steep a drop as in other recent months, the chart below shows. “These are small signs, admittedly, but encouraging ones,” Zillow said in a report Friday. “The return to some seasonal normality is a positive sign that the market is reaching a more steady state and could see inventory rise more steadily going forward....

If your bank wants more than the basic information that goes on an application, a letter to the bank could be in order. Some banks specifically request letters, while others might appreciate any extra steps you take to try and win the loan. Learn how a loan letter can improve your application and what you should include in one. Why Write a Letter to Your Bank? When you write a loan letter to accompany your application, you have the chance to explain exactly why the lender should approve your request....

Fortunately, depositing a check is easier than ever, and after you make a deposit, you can use your money in several ways: Withdraw cash, pay bills online, shop with your debit card or checkbook, or transfer funds electronically. How to Deposit Checks Depending on the bank or credit union you use, you should have several options for deposits. Deposit with your mobile device: The fastest and most convenient option is probably to use your mobile device....

To estimate how much you can actually spend from an annuity, it’s critical to understand the tax rules. We’ll outline some of the most important features to consider as you plan for the future. What Is an Annuity? An annuity is an insurance contract designed to help investors with long-term goals. These insurance products offer a variety of guarantees, such as lifetime income, and any earnings inside of an annuity contract are tax-deferred....

Learn how to do a general calculation to find out just how much you might have to pay in estimated taxes and when you’re required to pay them. Why Estimated Taxes Are Important Most small business owners must report their business income and pay their business income taxes with their personal tax returns. You would have payroll tax deductions for income taxes withheld from your pay by your employer if you worked for someone else....

Prospective buyers who don’t have the funds to close on a home might consider using a down payment gift assistance program, sometimes called a down payment grant program. Typical assistance seems to range from 1% to 5%, and there are no minimum or maximum income requirements for buyers, but there may be top limits set on the sales price of homes. Down Payment Gift Assistance Explained Home sellers can help buyers pay closing costs by giving a portion of their proceeds back to the buyer at closing....

Some people, however, believe that carrying a balance is necessary to build a good credit score. Others have concerns that a zero balance can harm their credit scores. Fortunately, it’s not true—a zero balance won’t bring down your credit score unless you have a zero balance because you haven’t been using your credit card. In that case, the credit card issuer may stop sending credit report updates for that account and may even close the credit card, both of which can affect your credit score....

Inti St Clair / Getty Images Learn more about iBuyers and whether one is right for you. What Are iBuyers? iBuyers are companies that purchase homes outright, directly from the owner. The seller doesn’t have to pay an agent, list the home, stage it, market it, or even show it to potential buyers. Instead, they tell the iBuyer about the property (things like its age, condition, and zip code) and, using data and mathematical algorithms, the iBuyer predicts the home’s future value....

miodrag ignjatovic / Getty Images The U.S. federal minimum wage, as of 2022, is $7.25 per hour. Congress established the minimum wage in 1938 to prevent employers from exploiting workers. The U.S. Bureau of Labor Statistics (BLS) found that 1.1 million workers were paid the federal minimum wage or less in 2020. They were more likely to be young, female, part-time workers, and employed in the service industries. The minimum wage would have been $10....

But there are times when your money would be better spent elsewhere. What you should do depends on your 401(k) and your financial situation. When Does It Make Sense to Contribute to a 401(k)? 401(k) plans are meant to help employees and the self-employed save for retirement. The assumption is that your financial needs have been met if you’re saving for retirement. As such, you should only contribute to your 401(k) plan if:...

Hire an Experienced Listing Agent It is important to hire a listing agent to help you squeeze every dime possible out of selling your home. Sellers sometimes want to hire agents who charge lower commissions to save money, but that’s the wrong approach. If an experienced agent who offers you more marketing and better service charges 1% more than a competitor but brings you 10 percent more in profit, you’re further ahead....