Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Matt Ryan Webber
All About Gift Letters for Mortgage Down Payments
What Is a Gift Letter? A gift letter is a legal document that verifies money given to a recipient is a gift, not a loan. It is often required when securing a mortgage, particularly for a down payment. A gift letter typically includes the donor’s and recipient’s information, the gift amount, and a statement confirming that repayment is not expected. It’s important to note that the IRS sets limits on tax-free gifts.
How to Avoid Probate: Naming Beneficiaries for CDs
Key Takeaways Name beneficiaries on CDs to avoid the probate process. Joint CD accounts pass directly to the co-owner. POD beneficiaries can inherit CDs without probate delays. State rules for joint accounts may vary. Probate involves validating the distribution of an estate. Certificates of deposit (CDs) often form part of an inheritance. These low-risk investments allow people to deposit money for a set period in exchange for interest.
Guide to Inheriting a Certificate of Deposit
Key Takeaways Inheriting a CD can occur through joint ownership or as a payable-on-death beneficiary. A joint owner of a CD gains full access upon the other owner’s death, generally without probate. Payable-on-death beneficiaries need to present a death certificate to claim funds. If no beneficiary is named, CDs go through probate, which can delay access to funds. Some CDs may have to reach maturity before the inheritor can access funds.
How Long Is a Credit Check Good for Auto Loans?
Key Takeaways When you apply for a car loan, the lender will pull a credit check. This can affect your credit score, but not as much as you may think. Multiple inquiries made during a 45-day shopping window count as a single check, letting you compare lenders without significant score damage. Understanding how long a credit pull remains valid, and how hard inquiries work, can help you shop confidently, protect your credit, and secure the best possible loan terms.. Hard vs.
Increase your home value
You must be a digital subscriber to access this content! Please login below or Subscribe today!
How Do Living Arrangements Impact SSI Benefits?
When the federal government calculates how much Supplemental Security Income (SSI) you will receive, it considers your living arrangements. Here’s the basic math. If you live in a house or apartment that you own and pay your own food and shelter costs, you will get the full SSI benefit. Buying a home will not cause you to lose your SSI. If you live in a place owned by someone else, you’ll still get the maximum amount as long as you pay your own food and shelter costs.
CDs vs. Mutual Funds
If you’re saving money for the future, certificates of deposit (CDs) and mutual funds are two of the main choices you have to consider. Certificates of deposit offer a guaranteed return and carry virtually no risk. Mutual funds come in a bewildering variety, but all are subject to some extent to the ups and downs of the markets. You could think of them as serving two distinct purposes: CDs are good for building up a fund for a short-term goal, like a down payment on a car.
CDs vs. Stocks: What's the Difference?
How these two popular investment options compare Fact checked by Skylar Clarine Reviewed by Katie Miller CDs vs. Stocks: An Overview Certificates of deposit (CDs) and stocks are pretty much on opposite sides of the investing spectrum. Their levels of risk, their potential returns, and the length of the commitment involved are very different. In brief: CDs are a safe and convenient place to stash some cash that you don't expect to need for a few months.
CDs vs. ETFs: What's the Difference?
Comparing certificates of deposit with exchange-traded funds Fact checked by Suzanne Kvilhaug Reviewed by Katie Miller CDs vs. ETFs: An Overview Certificates of deposit (CDs) and exchange-traded funds (ETFs) are two popular investment options. Both allow you to save some of that extra cash aside while promising you a modest return. They are considered to be low-risk investment vehicles, which means you won't be making a big gamble with your money, and both are easy to acquire in your portfolio.
Should I Participate in a 401(k) Without a Match?
One key advantage of a 401(k) plan is that employers often provide a matching contribution. Employer matches represent a guaranteed return on your retirement investment, and it almost always makes sense to maximize them. If your employer doesn’t offer any match, you may be wondering if you should still participate. The short answer, in most cases, is that it does still make sense to contribute to a 401(k) because it can offer significant tax advantages.
Income Limits for 401(k)s: Highly Compensated Employees
The Internal Revenue Service (IRS) sets limits for employer-sponsored 401(k) plans, such as the maximum annual employee contribution limit and the maximum employer contribution limit. Some of these limits apply to 401(k) contributions of employees who earn high salaries. Here, we’ll explain more about the 401(k) limits for highly compensated employees (HCEs), including how they work. The Internal Revenue Service (IRS) has several income limits that apply to 401(k) plans.
What’s Prohibited in Reverse Mortgage Advertising?
Seniors and retirees who haven’t worked for many years may face the challenge of limited income from savings and investments. Although they own their home outright, they find themselves house-rich but cash-poor. As a result, they might experience financial struggles when they have inadequate cash to meet their financial needs. A reverse mortgage can help those with limited cash flow by allowing homeowners to borrow against the value of their homes.
Special Needs Trust vs. ABLE Account: What’s the Difference?
Both ABLE accounts and supplemental needs trust (SNT), also known as supplemental needs trusts, allow the accumulation of resources for the benefit of an individual with a disability without jeopardizing key federally funded benefits, like Supplemental Security Income and Medicaid. Though both financial tools serve a similar purpose, there are key differences in how they function and their rules regarding contributions, usage of funds, and management.
The Vice Chair of the Federal Reserve
Philip N. Jefferson is an American economist who, in May 2023, was named vice chair of the Federal Reserve Board (FRB). This is the board’s second-highest position and makes Jefferson a powerful voice in determining U.S. economic policy. Jefferson is only the fourth Black man to serve on the FRB and the second to be vice chair. Jefferson was born and raised in Washington, D.C., and decided to work in economics at an early age.
How to Write a Business Plan for a Loan
A business plan is a strategic document that outlines a company’s goals and details the strategies it will use to achieve them. It serves as a blueprint for the company, guiding a business through its marketing, financial, and operational decisions. Some business plans are more detailed than others, but they’re used by all types of businesses, from large, established companies to small startups.
Should I use a home equity loan to buy a car?
Key takeaways Generally, you shouldn’t use a home equity loan or HELOC to buy a car. Although they may offer longer terms and lower monthly payments, home equity loans currently carry higher interest rates than auto loans. Because cars lose value over time, they’re not worth the risk of diluting your ownership stake in your home and risking foreclosure. It might make sense to use home equity financing to buy a car and for another aim, like a big home improvement project.
Should I use a home equity loan to buy a car?
Key takeaways Despite their advantages, home equity loans come with risks: You could lose your home if you miss payments, owe more than your home’s worth, and your credit score could suffer. Home equity loans ideally should be used to finance home improvements or consolidate debt at a lower interest rate — but not to cover everyday expenses, buy big discretionary items, or invest.
Should I use a home equity loan to buy a car?
Should I use a home equity loan to buy a car? by Matt Ryan Webber Fri, January 31st 2025 at 3:00 PM Imagenet/Shutterstock
Should I use a home equity loan to buy a car?
Key takeaways Generally, you shouldn’t use a home equity loan or HELOC to buy a car. Although they may offer longer terms and lower monthly payments, home equity loans currently carry higher interest rates than auto loans. Because cars lose value over time, they’re not worth the risk of diluting your ownership stake in your home and risking foreclosure. It might make sense to use home equity financing to buy a car and for another aim, like a big home improvement project.
Reverse Mortgage vs. Annuity: What’s the Difference?
Reverse mortgages and annuities are financial products that are generally used to help investors generate a steady, reliable retirement income stream. Despite having a similar intended purpose, these two financial products are different. A reverse mortgage is a loan that uses the value of your home as security. An annuity, on the other hand, is a type of insurance that may require a substantial amount of upfront cash to purchase a contract.
Reverse Mortgages for Rental Properties
Reverse mortgages can be a good way for seniors to release some of the equity in their home. It allows these seniors to borrow money against the value of their home and receive funds as a lump sum, fixed monthly payment, or line of credit. The entire loan balance becomes due and payable when the borrower dies, moves away permanently, or sells the home.
How to Apply for a Small Business Grant
Financial grants that can help your small business grow and succeed are available from a variety of sources—the federal government, state and city governments, and a wide range of philanthropic organizations and corporations. Applying for these grants can be time-consuming, but they have several significant advantages over small business loans if you can get one. Most importantly, grants don’t need to be repaid.
Definition, Types, and Where to Find Them
A business grant is a sum of money given to a business by a donor. In the United States, the largest donors are the federal government, state governments, foundations, charities, and corporations. Business grants are usually given to businesses to achieve specific goals or to businesses that are owned or run by members of an underrepresented community. Business grants are different from business loans in one key way: You don’t have to pay them back.
Car Payment Delinquencies: Risks, Repossession, and Recovery Options
Key Takeaways Missing car loan payments can lead to repossession and negatively affect your credit score. After 30 to 90 days of missed payments, a loan can be declared in default, leading to potential repossession. Lenders may offer options like payment deferral, reduced payments, or refinancing for those struggling financially. Voluntary repossession can avoid high fees but still harms your credit report for up to seven years.
What Is Equity?
Equity is commonly used in several different circumstances – home equity, shareholder equity and brand equity. In general, it is the value of the assets held by a company or individual, minus the debt that is associated with them. Equity is the value of an investor’s ownership of an asset. The concept of equity is most commonly applied to two types of assets: a shareholder’s equity in a company or a homeowner’s equity in their property.
Should I use a home equity loan to buy a car?
Updated May 17, 2024 at 2:45 PM Key takeaways Generally, you shouldn't use a home equity loan or HELOC to buy a car. Although they may offer longer terms and lower monthly payments, home equity loans currently carry higher interest rates than auto loans. Because cars lose value over time, they're not worth the risk of diluting your ownership stake in your home and risking foreclosure.
The top renovations that increase home value in 2024
May 7, 2024 at 4:59 PM 2024 might not be the easiest time to buy a new home, but that doesn’t mean you can’t invest in your property. With home prices at historic highs, many aspiring homeowners are willing to buy a place that needs substantial work if it’s the only way to make a purchase happen. Meanwhile, elevated mortgage rates are causing many current homeowners to not buy, but to stay put and upgrade their homes instead.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Matt
Contact Matt, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack