Daniel 850 - Thrive Moderatorš±
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Sesame Cash Brings Credit Building & Smart Banking Together
Hey Thrivers! We wanted to take a moment to tell you about Sesame Cash, the new zero-fee digital bank account and debit card that lets you manage your cash and credit within the Credit Sesame app.Ā ...
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Chance to win a $25 Amazon gift card!
Your posts or comments, within the giveaway period, will automatically qualify you for a chance to be one of five daily winners of a $25 Amazon gift card!Ā SeeĀ hereĀ for full details.
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Will these stimulus checks be deposited into my bank account if I have already filed taxes?
The IRS will deposit the stimulus payment into the same banking account on your tax return. If youād like to change the form of payment distribution, an IRS web is now available for you to do so here.
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CARES Act and your 401(k)
Due to the coronavirus, you can withdraw up to $100,000 from your 401(k) without a penalty.Find out more about how the CARES act affects your 401(k) here.
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Should I refinance my home?
Rates are historically low right now with some lendersāin the low-3% range. Because of this, lenders are receiving an overwhelming number of applications. Some lenders have artificially high rates,...
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Is now a good time to consolidate credit cards or get a low interest loan?
Our general take is that it is not a great time right now, except for those with fairly good credit. Many personal loan lenders are pulling back and have tightened their underwriting requirements.Ā ...
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If you withdraw money from investments or 401(k) will you be penalized?
If youāve been impacted financially by COVID-19, the CARES Act waives the 10% early withdrawal penalty. So you can withdraw up to $100,000 and not be penalized if this is needed to pay your expenses.
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Should you move money in your 401(k) or leave it alone and keep adding to it?
In general, you should avoid withdrawing money from your 401(k) unless you need to as a last resort or you are of retirement age. If your employment is stable, you can also check with your employer...
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How much emergency funds do you really need?
It depends on your situation, expenses, and dependents. Experts have recommended saving at least three months of expenses.Ā If you have money left over after your necessary expenses, setting it asid...
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Is there going to be leniency for medical bills during the covid-19 epidemic?
We would recommend reaching out to the medical billing department of your provider to discuss your options. Many are willing to work with you and set up a payment plan.Ā