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Millennials Are Seeking Prenups—and It Might Just Be Worth Considering

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How to Talk to Your Parents About Money (Without Losing Your Mind)

Other than your love life, finance might just be the last topic you’d ever want to discuss with your parents. Not only could it potentially open you up to unnecessary and unwanted criticism (ahem, like comments about avocado toast), but financial advice from a baby boomer can sometimes feel a little irrelevant. The financial climate has changed considerably since your parents were in their 20s or 30s. The cost of higher education has gone up 1,120% in 30 years, and millennials (i.e., you) are carrying majority of the $1.2 trillion in student loans Americans currently owe and are paying back.

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Self-Employed? Here’s Why You Need a SEP IRA

Being self-employed is great: You have more freedom and flexibility, and working for yourself can be financially rewarding. As a self-employed person, you have another big opportunity: setting up a Simplified Employee Pension (SEP) IRA. With this move, you can potentially save even more for retirement than you could with a 401(k), and get started saving towards your biggest financial goal—financial independence.

A SEP IRA is ideal if you’re a successful professional with no employees who wants to shelter your income from taxes and invest for retirement. When you’re self employed and receive 1099 income, you pay both the employer and employee portions of Social Security and Medicare taxes. Contributing to a SEP reduces these along with federal and state income taxes. While it gives you the flexibility to decide how much you want to save each year, it also gives you much higher contribution limits than the $5,500 limit of a traditional IRA—and it can be just as easy to set up. It can be a powerful wealth management tool.

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What Homeowners and Homebuyers Need to Know About the Fed Rate Hike

If you’re in the market to buy a home, or you recently became a homeowner, you’ve probably noticed that mortgage interest rates are ticking up. And just this past March, the Federal Reserve increased the Federal Funds rate by one-quarter of a percentage point for the second time since December. Coincidence? Probably.

We’ll get more into what the Fed rate hike is all about below, but the burning question is: What impact does it have on mortgage rates? Most importantly, how will it affect home affordability and your monthly budget?

To help you make major mortgage decisions going forward—ones that have the potential to impact you for the next 30 years—we’ve broken down what the Fed rate hike really means for current and future mortgage borrowers, and the actions you should consider.

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5 Important Investment Tips for Trying Political Times

Regardless of your opinion of President Trump, his administration, and the infighting in Washington, times like these present real financial challenges to Americans. Are we in for higher inflation or another recession? What will happen to interest rates? Will unemployment grow or shrink?

Everyone is feeling this uncertainty, particularly young people who are making investment decisions for the first time. Here are a few ways to take control of your money, and avoid making some common money mistakes.

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