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Mastercard will remain the network for the credit cards, according to the joint press release from the firms. Goldman Sachs plans to take over the card program in September, and current cardholders will see no changes to their accounts before then, the press release said. “We chose to partner with Goldman Sachs because of their proven ability to innovate,” Chuck Thomson, general manager of retail sales and marketing support for GM, said in a statement....

Gas prices set yet another record Wednesday, when the national average for a gallon rose 5 cents to $4.67. Motorists are reacting to the higher prices by steering clear of the gas station, driving deliveries of refined gasoline to the market (a proxy for demand) down to 8.85 million barrels a day, 6% below pre-pandemic 2019 levels, according to EIA data. As the chart below shows, that’s below even the post-pandemic 2021 recovery period, when drivers were starting to return to the road following lockdowns....

While their names are similar, a home equity loan and a home improvement loan are very different. A home equity loan is a secured loan backed by your home equity. A home improvement loan is an unsecured personal loan. Home equity loans have longer terms and grant higher loan amounts than home improvement loans. As a result, home equity loans are suited to bigger projects, while home improvement loans are best for small projects....

The median price for an existing home rose to $329,100 in March, up 5.9% from February and a record high, while properties on the market sold in 18 days on average, a record low. Meanwhile, sales of existing homes fell 3.7% from February to a seasonally adjusted rate of 6.01 million per year, the National Association of Realtors said in a monthly report. The rising prices are a classic result of supply and demand, with buyers continuing to chase a severely depleted number of homes for sale....

The payroll process includes: Calculating and preparing paychecksAccounting for amounts withheld from these paychecksMaking deposits of taxes withheld from paychecksReporting on taxes withheld and deposits made This article gives you the basics of the deposit part of this process. What Are Payroll Taxes? First, let’s define what is meant by “payroll taxes.” They are the taxes you must pay on your payroll (the amounts you pay to employees for the work they have done)....

Can You Add an Annuity Rider to an Existing Annuity Policy? A rider is a benefit that you can add to some deferred annuity policies that solve for a specific need like income, legacy, or long-term care. Riders have to be chosen at the time of application and cannot be added to the policy after the annuity has been issued. How Annuity Riders Work Most income riders and death benefit riders offer a guaranteed annual growth amount that can be used only for that specific need....

Diversification can also help reduce the volatility in your portfolios, allowing you to see steady growth without wild swings in the value of your assets. That’s when beta becomes important. Beta is a measure of a stock’s sensitivity to changes in the overall market. You can measure the beta in your portfolios with some basic math. Learn more about how to calculate the volatility, or beta, of your portfolio....

A HELOC isn’t permanent. Once the draw period ends, you’ll need to start making payments on your debt. Let’s take a look at how HELOC repayments work, how you transition from receiving funds to making payments, and your options during this process. What Is the Repayment Period? A HELOC works much like a credit card. You’ll have a fixed line of credit against which you can make charges, then you’ll need to pay those charges back....

“Term life insurance makes sense for most families and is a useful tool to provide liquidity after a death,” John Strohmeyer, a tax and estate planning attorney and proprietor of Strohmeyer Law PLLC in Houston, told The Balance via email. Learn how term life insurance works and if it makes sense for your situation. What Is Term Life Insurance? Term life insurance policies are a form of insurance coverage that protects your loved ones in case you die while the policy is in effect....

What the Interviewer Wants to Know Interviewers are looking for the real-world applications of your college experience. There’s no need to discuss completed classes or degrees earned, unless they are relevant to the position. Instead, focus on how college prepared you to do the job. You can do so by connecting the dots between your college experience (and courses) and employment. How to Answer “How Has Your College Experience Prepared You for a Career?...

Overview of LinkedIn LinkedIn is a social network specifically designed for career and business professionals to connect. As of 2020, over 722 million professionals use LinkedIn to cultivate their careers and businesses. Unlike other social networks in which you might become “friends” with anyone and everyone, LinkedIn is about building strategic relationships. Thus, the number of connections is less important than the type of connections. In fact, LinkedIn stops showing your actual number of connections once you have 500 because it’s about quality, not quantity....

The amount of these exemptions can vary. It was $11.7 million in 2021 ($12.06 million in 2022) at the federal level while it’s only $1 million in Oregon. Estates try to claim as many deductions as possible to decrease net value and possibly dodge the estate tax, particularly when the estate is close to surpassing the exemption threshold. Funeral expenses are recognized as legitimate estate tax deductions, subject to certain rules....

How old should you be to get a credit card? You must be at least 21 years old to get a credit card in your own name without a co-signer. If you’re under age 21, you must able to demonstrate the ability to independently make the payments to get your own credit card. If you’re unable to do that and are under 21, you’ll have to apply for a credit card with an adult over 21 who has the income and credit history to qualify....

Typically, home equity loans feature fixed interest rates with monthly payments. But like mortgage loans, home equity loans are subject to closing costs and maintenance fees, which can drive up the cost of obtaining one. Calculating the total cost of home equity loan payments depends on the amount of money you borrow, the loan’s interest rate, and the length of the loan term. Monthly Payment Costs for Home Equity Loans Like mortgages, home equity loans require you to repay the principal plus interest, along with closing costs, which can include:...

What Happens to Retirement Accounts in a Divorce? Marital property is anything you earn, purchase, or acquire during the course of your marriage—although most states exempt gifts that are specifically given to just one spouse. It doesn’t matter if a retirement account is held in just one spouse’s name. It’s still marital property and can be divided in a divorce if it was earned, established, and contributed to during the term of the marriage....

But it’s important to understand the impact that stress can have on your well-being, as well as your work. In a survey by ComPsych, 61% of employees said stress made them feel tired and out of control. One-fifth of respondents said they’d missed six days or more per year because of stress. Read on to learn more about the causes of stress and how it can affect your work....

What Is the Expected Family Contribution (EFC)? When you complete the FAFSA, the Federal Student Aid Office sends you a Student Aid Report (SAR) with basic info about your application, including your EFC. The EFC is determined by a formula designed by Congress and is an estimate of how much you and your family are able to contribute toward your education expenses, based on information from the FAFSA. It is the maximum expected contribution, not necessarily what you actually must or will pay....

On a monthly or quarterly basis, these funds must report the amount of money flowing into or out of their accounts. These fund flow reports can provide valuable information if you know how to read them. Learn what fund flows are and how you can utilize them to gain an edge when investing, both domestically and internationally. What Is Fund Flow? Fund flows show cash inflows and outflows across various financial assets on a monthly or quarterly basis....

When you’re applying for a new role with your employer, it can be challenging for both you and the company if you don’t get the position. The interviewer will want to know what strategies you’ll use to successfully continue working in your current job if you don’t get the promotion or transfer you were seeking. Here’s what you need to know to prepare for this question. What the Interviewer Wants To Know The interviewer wants to know whether you are concerned about the company or just the advancement opportunity....

Specifically, you’ll need to decide how much money you should withdraw from your account initially and a rate of withdrawal over time that will ensure you won’t outlive your savings and can enjoy retirement living. There are several withdrawal considerations you must make. Continued Growth vs. Inflation Remember that your retirement savings accounts don’t grind to a halt when you begin retirement. That money still has a chance to grow, even as you withdraw it from your 401(k) or other accounts after retirement to help pay for your living expenses....