Money.com

Many pet owners save money for emergency care so their pet can receive proper treatment should the unexpected happen. But the cost of minor visits to the vet can also add up.
A pet owner recently posted in the subreddit r/Pets about the regular visits for small issues like a patch of dry skin or a slightly runny eye, which have been straining the user’s finances.
“I want to be a responsible owner, but paying the consult fee every single time something might be wrong is bleeding me dry,” the pet owner said. “I’m paralyzed by the fear of missing something serious, but I’m also going broke paying for peace of mind on things that turn out to be nothing.”
The pet owner has funds saved up for emergencies, such as accidents, sudden illness or serious pain. But with $50 visits for minor concerns adding up, they’re looking for a better solution.
Pet Protection: See How Healthy Paws Pet Insurance Can Help Your Dog or Cat
Expert advice: Keep up with your pet’s checkups, ask for options and consider health insurance
Part of being a responsible pet owner is taking your furry friend to the vet, but doing so too often can significantly chip away at your funds. The American Animal Hospital Association says that it makes sense for multiple visits per year for young puppies, but that changes as the animal ages.
The association considers dogs to be puppies up to six to nine months old (depending on their breed and size), young adults up to three or four years old, mature adults up to the beginning of the last 25% of the estimated lifespan and seniors after that.
“As dogs transition out of puppyhood into young adults, it’s still important that they receive routine preventative healthcare,” according to the association. “Most healthy young adults should visit the vet at least once a year (and as needed for illness and injury), although some may benefit from biannual visits depending on breed, lifestyle, and health risks.”
‘The Higher the Balance, the More You’ll Earn’: Open a savings account with CIT Bank and get 3.75% APY (and it takes only about 5 minutes)
Mature adult dogs should see the vet once or twice a year as needed. In an article for Whole Dog Journal, veterinarian Dr. Eileen Fatcheric recommends a wellness exam at least twice each year for pets that are seven years or older.
“Time starts moving a little faster for these guys, bringing with it a higher likelihood of medical problems that may not be outwardly apparent to you, but may be picked up by your veterinarian with physical exam and diagnostics,” Fatcheric wrote.
Veterinarian Dr. Rhiannon Koehler wrote in an article for PetMD by Chewy that when considering visits for young kittens, you should check your vet’s recommendations for your cat’s vaccine schedule. Then when a cat turns one, they should have a wellness appointment annually until age 10. Cats over 10 years old should visit the vet at least once every six months, she added.
Pet Protection: See How Healthy Paws Pet Insurance Can Help Your Dog or Cat
Ideally, if you keep up with your wellness checkups, your vet will be able to catch issues early so you can address them before they become larger problems. Pet insurance can also help you save costs. Check out Money’s list of the best pet insurance companies, which can reimburse you for diagnostic tests, hospitalization, surgery and more if your pet gets sick or injured.
You can also explain your financial restraints to a vet and ask them for all of your options before making a decision. Sometimes, there are more cost-effective solutions that can still help your pet than the first solution mentioned. Another option is to ask your vet about payment plans.

Contrarian investors zig when others zag. They look for neglected stocks that have been out of favor in recent months or years and use them as buying opportunities. However, these investors don’t buy a stock just because its price is dropping.
Investors who completely ignore fundamentals could end up with a losing portfolio.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

Contrarian investing rules to follow
Warren Buffett, legendary investor and the chairman of Berkshire Hathaway, is a well-known contrarian investor. But investing like Buffett — or any of the pros — is a big challenge. Here are three things to keep in mind.
1. Focus on the long-term
If you’re going to buy a stock that other investors aren’t, you want it to grow in price over the long-term. That means negative sentiment around a contrarian stock must be temporary, such as due to short-term macroeconomic issues, political backlash or an earnings report in which the company missed guidance. These headwinds are not necessarily structural issues, and when they get resolved, the stock could extend its rally.
Contrarian investors ask if the long-term catalysts are intact. Some corporations strengthen their growth prospects while their stock prices fall. This type of mismatch fuels negative sentiment and presents a long-term opportunity for savvy investors.
Gold Investor Kit Offer: Sign up with American Hartford Gold today and get a free investor kit, plus receive up to $20,000 in free silver on qualifying purchases
2. Look for strong fundamentals
If investors are selling a stock because the company has poor underlying fundamentals, that’s likely not a stock you want to buy.
You can assess metrics to get a sense of a company’s financial health. For example, the current ratio compares a company’s current assets against its current liabilities. Contrarian investors, like value investors, are often looking for strong companies that are being undervalued.
Free Trade: Check out Robinhood’s online trading platform and get the first trade on them
3. Be patient
Contrarian investing often requires patience, since you may be holding on to a stock and waiting for its price to turn around for a significant chunk of time.
Extra Money: Get up to $1,000 in stock when you fund a new active SoFi invest account
Why contrarian investing isn’t for everyone
You don’t have to hunt for bargains and be a contrarian investor to reach your long-term financial objectives — and in fact, the strategy won’t work for many average investors. A much simpler approach is to buy a diversified index fund. These funds offer exposure to many assets and come at low costs.
Diversified index funds also eliminate the need to learn about complex ways to value stocks and determine which investments present compelling upsides. Contrarian investing is only profitable if you are right about the fundamental business. Not everyone can do enough research to validate their convictions, and picking the undervalued stocks that are going to take off is difficult even for Wall Street pros.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

Most Costco members know they can save money at the warehouse’s food court and gas pumps, but there are lesser-known perks that you should explore.
Costco membership comes with a fee. However, knowing the extra benefits can reduce your overall expenses and help you make the most of your money and membership.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

How to maximize your Costco membership
Your Costco membership may come with far more benefits than you realize. The retailer is known for its discounts and deals on food, cleaning supplies, furniture and more. But digging into the lesser-known perks can help you maximize your membership.
Using all of the resources that the wholesaler provides can help ensure that your membership pays for itself — and that you stick to your shopping budget.
Vet bills can cost thousands — see what pet insurance might cost you
Here are five perks to explore.
1. Travel discounts
Costco offers deals on all sorts of travel. Whether you’re looking to book a hotel room, cruise, flight, rental car or a combination package, you may be able to save big by purchasing it via the wholesaler’s travel portal. You can often snag bookings that come with perks like resort credits to use once you’re on vacation, free breakfast, complimentary valet parking and more.
2. The business center
The Costco Business Center locations offer deals on bulk supplies. While many businesses visit these centers, individuals can also find furniture, food, beverages and kitchen equipment — and there are often more selections and larger quantities for sale than what you’ll find in the standard warehouses. The business centers are also open earlier than Costco’s regular operations: The business centers open at 7:00 a.m., while the rest of Costco’s stores open at 10:00 a.m. for regular members. There are more than 27 Costco Business Center locations around the U.S.
Still paying for subscriptions you don’t use? See what you could cancel
3. The pharmacy
Costco offers low or no-cost access to flu shots and other vaccines, depending on your health insurance (most major plans are accepted). The pharmacy also offers a wide range of medications, and you can pick them up at the warehouse when you shop or have them delivered to your doorstep.
4. 90-day return policy
Costco gives you extra peace of mind with a 100% satisfaction guarantee. If you’re unhappy with a product, you can return it for refund within 90 days (with some exceptions).
Grow your investing confidence with expert-selected stock picks from the Motley Fool
5. Credit card perks
You can shop at Costco with any credit card, but Costco’s credit card — the Costco Anywhere Visa Card by Citi — will get you extra perks.
You will get 5% cash back on Costco gas and 4% cash back on other eligible gas up to $7,000 per year (and 1% cash back after that). All Costco purchases both in the store and online qualify for 2% cashback, and you also receive 3% cashback on restaurants and travel. The Costco card does not have any annual fees for members, and your rewards are paid out yearly as a reward certificate.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

If your child’s school uses Canvas — and there’s a good chance it does — a cyberattack may have exposed their personal information. The popular learning management system, used by over 14 million K-12 students and 7 million college students around the country, was hit by a breach that could affect millions of students, teachers and staff members.
Instructure, the Utah-based company behind Canvas, said that highly sensitive information like Social Security numbers and financial data does not appear to have been compromised. However, experts warn the stolen information could still be used to target students and their families with highly convincing phishing scams.
What we know about the breach
On May 1, Instructure disclosed it had experienced a cybersecurity breach on April 29. The company said it believed the breach had been contained by May 2, though it later acknowledged additional unauthorized activity tied to the same incident.
The group claiming responsibility for the cyberattack is ShinyHunters, an infamous hacking and extortion group linked to several major data theft campaigns in recent years, including the 2024 Ticketmaster breach tied to Live Nation and a 2025 theft of data from Google cloud storage.

How People Are Protecting Their Digital Identities Right Now

Lifelock: Darkweb monitoring, financial fraud alerts and many more features
Aura: Individual, couple and family plans starting at just $9 a month

Attackers replaced parts of the Canvas login experience Thursday with a ransom note threatening to publicly release stolen data unless payment was made by May 12. Canvas, Canvas Beta and Canvas Test were temporarily placed into maintenance mode during the disruption, which coincided with final exams at many schools.
On its leak site, ShinyHunters claims the Canvas attack affected nearly 9,000 schools worldwide and exposed the data of 275 million people. Cybersecurity researchers, though, urge consumers to exercise caution, as those numbers have not been independently verified and may be exaggerated — a common tactic among financially-motivated hacking groups.
Instructure said it has not found evidence that additional data was stolen during the most recent incident.
The information that was compromised
According to Instructure, the compromised information appears to include usernames, school email addresses, student ID numbers and messages exchanged through Canvas. The company says it found no evidence that passwords, dates of birth, government identifiers or financial information were involved.
That’s important because it lowers the immediate risk of direct identity theft. Moreover, while Canvas users don’t typically upload financial information like credit card numbers to the platform, student ID numbers exposed in the breach could potentially be used to look up or access a student’s financial aid profile at their institution, depending on how their school manages that information.
But experts say the exposed data could still be valuable to scammers.
Attackers could send highly convincing phishing emails or text messages posing as teachers, administrators or classmates. A fake message asking a Canvas user to update account information or pay a fee will look much more legitimate if it references actual teachers or classes.
Steps students and parents can take now to protect themselves
There are lists of schools affected by the Canvas data breach floating around. But the best way to confirm whether your school was included is to contact your college, school or district administration, or check for any official communication from Canvas or Instructure.

How People Are Protecting Their Digital Identities Right Now

Lifelock: Darkweb monitoring, financial fraud alerts and many more features
Aura: Individual, couple and family plans starting at just $9 a month

The biggest immediate risk to you or your family is phishing. Be cautious about emails or texts claiming to come from a school or Canvas that ask you to click links, confirm passwords, open attachments or send money. Instead of using links from messages, navigate directly to your school’s official website. Genuine Canvas support emails end in @instructure.com, while institutional emails or support from school IT will use their own domain, like @university.edu.
Parents whose schools were affected may also want to consider placing a credit freeze on their child’s credit file through Equifax, Experian and TransUnion. Child identity theft can go unnoticed for years because minors rarely check their credit. A freeze is free and prevents new accounts from being opened in your child’s name.
College students whose institutions were affected should consider doing the same. Anyone with an active credit file has something to protect.
If you’re concerned about broader exposure, you can also look into identity theft monitoring services, which scan dark web marketplaces and data broker databases for your personal information and alert you if it surfaces. Many offer family plans that cover minors — a useful feature given that a child’s data can sit dormant for years before anyone tries to exploit it.
More from Money
What Is a Data Breach and How to Prevent It
4 Steps for Protecting Your Data After a Breach Occurs
What to Do if Your Information Is Found on the Dark Web

Retirement means you have extra to travel to places that have long been on your bucket list. But now that your highest-earning years are in the rearview mirror, it’s important to enjoy your travels while also preserving your wealth.
Some people may think that means cutting back in the number of vacations you take. But there are smart moves you can make to travel without overspending.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

Travel during the off-peak season
Travel costs are based on supply and demand, and if you are willing to avoid busy seasons, you can save significant amounts of money. Many vacation spots generate high demand in the summer, as well as during the holidays, but become more affordable in the late spring or early fall. (Though you should also try to avoid traveling during major holidays of those seasons like Labor Day and Memorial Day.)
The spring and fall can also come with warm, comfortable weather in many vacation spots.
Gold Investor Kit Offer: Sign up with American Hartford Gold today and get a free investor kit, plus receive up to $20,000 in free silver on qualifying purchases
Swap homes and housesit
You can also save money by trading traditional accommodations with a home swap or housesitting gig. House swapping platforms such as HomeExchange connect homeowners with families who are traveling at the same time, while house sitting platforms like TrustedHousesitters can connect them to sitters. If you go the sitting route, you can get paid to watch over someone’s property (and their pets) for a few days in a new place.
However, you aren’t getting paid to be a tourist. Home sitters have to balance the responsibilities of the job with seeing the sights. But home sitting can also give you a more authentic experience of how locals live.
Pet Protection: See How Spot Pet Insurance Can Help Your Dog or Cat
Use your credit card points and loyalty programs
The best travel credit cards allow you to rack up points when you make purchases and redeem them for flights, hotels and other travel expenses. Some cards offer better rewards for specific spending categories, so make sure you compare the rewards programs of multiple travel credit cards before choosing one.
Airlines and hotel companies also offer loyalty programs that can give you extra deals for traveling with them more than once. If you live near an airport that’s the hub of an airline, like Delta’s hub in Atlanta or United Airlines’ in Chicago, it can make sense to book consistently with that airline, since you may also have more flight options.
Deal of the Week: 50% off your first week with Cook Unity, a meal delivery service crafted by chefs
Pick the right destinations
The vacation destinations you choose also play a role in total costs. You’ll likely have to spend a lot more money for a one-week vacation in Manhattan, for example, than you may in Portugal, Mexico or Southeast Asia.
You can save even more money researching hotel prices before putting money down on a luxury property. Staying in a nearby suburb as opposed to a city can also help you save big.
In short, you can travel more than you think in retirement if you are intentional about where, when and how you travel.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

Key Takeaways

Most adults in the U.S. want to age in their own home, not in a retirement community or assisted living facility. But their homes (especially those built before the 1960s) likely need renovations to be up for the task.
Designing an accessible space doesn’t have to cost a fortune, and you don’t have to overhaul your entire home either. If you’re renovating on a budget, put your money towards high-priority rooms like the bathroom and kitchen.
The best time to renovate is before you need it. Start off with what you can afford while you’re still healthy and working, and save up for expensive upgrades like a bathroom or kitchen remodel.

After a lifetime of work, retirement should be a time for relaxing: slow mornings, new hobbies and quality time with loved ones. The last thing on your mind should be leaving your forever home because you’re struggling to go about your daily tasks.
For many retirees, this scenario isn’t far-fetched. About 1 in 4 adults between 65 to 74 have mobility issues or some other form of disability, and most homes in the U.S. aren’t built with them in mind.
This is out of balance with what most people want. According to Pew Research Center’s Survey on Aging, as many as 60% of adults over 65 want to age in their own homes. If this resonates with you, these are the key upgrades that will allow you to complete daily tasks like bathing and cooking, even if your mobility declines.

5 areas every retiree should consider updating
Preparing your home for the long haul doesn’t always mean taking on a major construction project. Many renovations that can significantly improve your day-to-day living are relatively affordable and easily done by a handyman. Here’s where to get started:
Bathroom
The first room up for review is the bathroom — it’s one of the most frequently used areas of the home and where most falls occur.
“If you’ve got a limited budget, bathrooms are going to be the number one priority,” says Dak Kopec, architectural psychologist and professor at the University of Nevada, Las Vegas.
This is especially true in older homes with smaller bathrooms. As people age, they often lose the balance and mobility that helped them move in these small spaces — they need more space to maneuver and pivot, Kopec says.
Falls are more common when you have to lift your legs to step into a bathtub, so curbless or threshold-free shower stalls are best. If its within budget, add a bench affixed to the wall so that you can shower while seated.
Other minor fixes include installing grab bars, replacing shower heads with handheld nozzles and installing faucet lever handles. (These are much easier to grip and open than knobs.)
Kitchen
The goal in the kitchen is to create a workspace where you won’t get as tired out while preparing food. Think: adding drawers or lazy Susans to bottom cabinets so you can grab items more easily and integrating pull-down shelves into existing upper cabinets. These shelves extend your items to a lower height so everything is within reach, not above you.
Finally, look for dark corners that may need new lights and consider installing ergonomic rocker light switches, which are easier on people with arthritis. You can also install glass-front cabinet doors to improve visibility
More complex renovations include removing bottom cabinets to accommodate a wheelchair and lowering kitchen countertops to a height that’s comfortable for wheelchair users, both of which may require custom carpentry.
Entryways and hallways
In the past, most people didn’t live long enough to need mobility aids, so homes weren’t built to accommodate a wheelchair or a walker.
Advancements in medicine and the technology of mobility aids have changed that. About 25% of Medicare recipients — the majority of which are over 65 — use a wheelchair, according to a study by the U.S. Congress agency, Medicaid and CHIP Payment and Access Commission (MACPAC).
Homeowners who use walkers or wheelchairs need hallways with enough clearance to move comfortably. Entryways need to be at least 36 inches wide, and there should also be at least one way to enter and exit the house using a wheelchair — either a permanent ramp or angled entry plates fixed to the floor.
Flooring
The right flooring material ultimately depends on your individual needs. But there is a universal rule, Kopec says: “The problem is having non-affixed flooring.”
Any flooring material that isn’t hammered down to the floor is a hazard, with area rugs being the most common issue. Not only are they trip hazards for people walking, but the rug can crumple and get caught in the wheels of a wheelchair, causing it to tip over. This doesn’t mean that you have to stick to one type of flooring material. You can have tiled and carpeted areas throughout the home, but they shouldn’t create stumbling hazards where they meet.
Finally, evaluate the areas where you’d have to step up to continue walking — these are typically doorways and changes in floor level. These small changes in elevation may seem inconsequential now but pose a risk of falls once your mobility and balance decline. To minimize this risk, you can install angled mats or small ramps made of metal or rubber.
Layout of the home
Multi-story homes pose a challenge for aging in place. As you age, walking up a flight of stairs to reach the bedroom or taking laundry down to a basement becomes difficult — if not dangerous.
The first step is to evaluate whether you can move every essential living area to the first floor of your home. If your bathroom, bedroom, laundry room and kitchen are on a single story, you can carry out most of your day-to-day activities without climbing stairs.
Another option is installing an electric stair lift— a device that carries you up and down the stairs in a seated position. That said, the usefulness of this device depends on your ability to get in and out of the seat, and whether it can hold your weight. Wheelchair users or people who need some sort of mobility assistance at all times may need to install a residential elevator, which can set you back anywhere from $10,000 to $70,000.
Deciding between a stairlift, elevator, and single-story living depends on your budget and the complexity of the project. Single-story living could be a simple shift if all you have to do is move some furniture around or a massive renovation if you have to expand a bedroom or build a bathroom from scratch. In some cases, it may make more financial sense to sell and move into a new home that’s already built with accessibility in mind.
How much do home improvements for aging in place cost?
The cost of home improvements varies greatly by geographic area, the age of the home, the professionals hired to complete it and naturally, the size of the project.
According to the home services website Angi (formerly known as Angie’s list), installing wheelchair accessibility features can range from $700 to $8,000. This includes projects like widening hallways and doorways, installing grab bars, and upgrading kitchens and bathrooms to meet guidelines set by the Americans with Disabilities Act (ADA).
Of course, a complete renovation of areas like the kitchen or bathroom can set you back thousands of dollars more, especially if you hire an interior designer or architect. Depending on the scope of the project, Angi reports that a kitchen remodel ranges from $15,000 to $41,000. Most bathroom remodels cost between $7,000 and $18,000 though it’s not uncommon for some projects to cost double that.
Many homeowners tap into their home equity to finance bathroom and kitchen overhauls. The most popular options are home equity loans and home equity lines of credit, but if you’ve already left full-time work, it may be hard to get approved by a traditional lender if you don’t have a solid income from Social Security, pensions or investment accounts. If that’s the case, try looking for financing designed for older adults, like a specialty home loan or line of credit, or a reverse mortgage.
Kate Granigan, CEO of care management firm LifeCare Advocates, says residents may also qualify for grants depending on their financial need or if a particular health condition prompts the renovations. Another option is to seek low-cost loans through nonprofit or disease-specific organizations.
One such program is CAPABLE, which was developed by the Johns Hopkins School of Nursing for adults aged 60 years or older who want to age in their community but who face difficulties completing daily activities like bathing, eating or moving around the home. The program sends an occupational therapist, a nurse and a handyman who collaborate with homeowners to improve their living conditions. Solutions are individually tailored and range from teaching participants how to get out of a bathtub safely to providing home repairs and assistive devices like a stair lift or a walker.
Tips for successful home renovations for aging in place
You can start planning for home updates for retirement by reviewing the National Association of Home Builder’s aging-in-place remodeling checklist and comparing it to the current state of your home. Then, these tips can also help you navigate the renovation process with confidence:
Make these changes before you need them
Home renovations are an easier undertaking when you’re young(er) and mobile, not when there’s an emerging health problem. Plus, you’ll have more financial flexibility if you start renovating your home while you’re still working. Because most retirees are living on a fixed income, they tend to be very price-sensitive and resistant to taking on new expenses once they’ve left the labor force, says Nancy Berlinger, who focuses on aging populations at The Hastings Center, a bioethics research institute.
Leave space for the unexpected
There are ways to design for what you need now while still leaving room to redesign as your needs change. This doesn’t mean you have to anticipate every possible ailment, but there’s value in considering the big picture — if, for example, you need a wheelchair 10 or 20 years down the road, you’ll be glad you invested in wider entryways now.
“Remember that aging lasts a long time,” Berlinger says.
To help people grasp the changes their bodies may undergo as they age, she likes to remind them that the age gap between a newborn and a 30-year-old is the same as between someone who is 65 and 95 years old. A lot can shift in 30 years, and smart home design can accommodate these changes.
Know that costs depend on when the home was built
Kopec says that integrating aging-friendly features when building a new home can add around 10% to the final cost. Renovations, on the other hand, tend to be more expensive in older homes because they require structural changes as well as upgrades in plumbing and electricity.
“If the home was built before the 1960s, it’s going to be more expensive to renovate anything,” he says. A $50,000 renovation budget may only get you a shower remodel, but that same budget can stretch for a complete bathroom remodel and maybe the hallway if the home was built in the 1980s or 1990s. The money can go even further in more modern homes.
Invest in custom-built upgrades when possible
For a bathroom update, you can go to a home improvement store, buy a shower seat and a couple of grab bars and call it a day. But custom-built designs are often a better option (and not as expensive as you might think). For starters, the object doesn’t move around — a real risk if you purchase a standalone shower seat instead of affixing one to the shower wall, for example.
Custom upgrades also allow you to factor in each person’s body proportions. For example, a fold-out seat affixed to a kitchen island — a place where you can sit while you prep food — will need to be set at a different height depending on your measurements.
Built-in upgrades aren’t always luxuries reserved for homeowners with a large budget. A fold-out seat like the one mentioned above is a modification a handyman can easily do, and it’s much better than buying a bench or stool that can tip over, Kopec says.
Get input from a professional
You can work with an occupational therapist, an interior designer and a contractor to create a functional home improvement plan that fits your preferences and budget.
Start by searching the National Home Builders Association directory to identify certified aging-in-place specialists (CAPS) in your area. A CAPS designation tells you the builder has completed professional development courses focused on aging in place so they can provide more targeted advice to your needs.

Editor’s note: This story was originally reported and published in October 2024. We’ve updated it to feature more current information.
More from Money:
How to Rebalance Your Investments Ahead of (and During) Retirement
Here’s Who Actually Needs Long-Term Care Insurance — and When to Buy It
How Much Money Do You Need to Retire? Answer These 4 Questions to Find Out

Key Takeaways

Overview: The best student loan lenders include Earnest, Sallie Mae and SoFi. But several well-regarded lenders offer very similar products, so it’s critical to shop around. Some lenders excel at serving particular types of students or offer unique perks that may matter to you.
Editor’s take: Undergraduate students should always max out federal student loans before turning to private options, which tend to be more expensive and offer fewer protections. Parents with strong credit can often qualify for better terms in the private market than those available through federal Parent PLUS loans.
Methodology: Money reviewed loan products from 14 lenders, evaluating interest rates, fees, repayment terms, borrower protections and more.

Private student loans can help you fill in the funding gap after you’ve tallied all your scholarships and grants and maxed out federal student loans. Private student loans are credit based, meaning not every student or parent will qualify. In fact, nearly 90% of undergraduate private student loans have a cosigner since undergraduates are often too young to have an established credit history.
Our top picks for best student loans
The following companies are listed in alphabetical order.

Abe – Best for Borrower Protections
Ascent – Best for Borrowers Without a Cosigner
College Ave – Best for Parents
Earnest – Best for Flexible Repayment
MPower Financing – Best for International Students
Sallie Mae – Best for Non-Degree Programs
SoFi® – Best for Member Perks

Pros

In-school default protection
Grace period of up to 12 months
Several forbearance options
2% principal reduction after graduation

Cons

Lacks the history of more established lenders so customer reviews are limited
Lower lifetime borrowing maximums than other lenders

HIGHLIGHTS

Loan amounts
$1,000 up to total school-certified cost of attendance

Loan terms
5, 7, 10, 15 or 20 years

Fixed APR
2.65% – 17.02%

Minimum credit score
Not disclosed

Minimum income
Not disclosed

Abe, which launched in the summer of 2024, is a new lender in the private student loan space. Like many lenders, Abe allows borrowers to choose whether they want to make in-school payments or defer payments until they graduate. But Abe stands out for its in-school default protection. If a borrower chooses to start repaying while enrolled and ends up falling behind, Abe will automatically switch them to the deferred payment program.
Abe has an option to extend its 6-month grace period up to a full year, and a shorter-than-normal 12-month period to apply for cosigner release. The company also offers some of the most robust — and transparent — hardship protections of any lender. Borrowers can get 12 months of forbearance for a job loss or other financial hardship, natural disaster or illness.
Aside from the autopay rate discount, borrowers can reduce their interest rate by an additional 0.05% for every six months of on-time payments (for a maximum discount of 0.25%). Plus, borrowers can shave 2% off their principal after they graduate through Abe’s Grad Reward.

Pros

Loans without cosigners or credit histories available

Bigger than normal discounts for setting up automatic payments
1% Cash Back Graduation Reward

Cons

First- and second-year students not eligible for outcomes-based loans

Lower loan maximums than some lenders

HIGHLIGHTS

Loan amounts
$2,001 to $200,000 lifetime maximum for undergraduate loans, $400,000 lifetime maximum for graduate loans.

Loan terms
Five terms for credit-based loans (5, 7, 10, 12 and 15 years) and two terms (10 and 15 years) for outcomes-based loans

Fixed APR
2.69% – 16.56%

Minimum credit score
Not disclosed

Minimum income
$30,000

Ascent is the best option for borrowers without a cosigner due to its specialized non-cosigned loan options for undergraduate, graduate and DACA students. It offers two options for non-cosigned loans — a credit-based option for those who do have a borrowing history and an Outcomes-Based Loan® for those without. These are unique products, but you should know that both options have significantly higher APRs than cosigned loans offered by Ascent (and other lenders). Credit-based loans without a cosigner start at 7.75% for fixed-rate loans; outcomes-based loans with a fixed rate start at 12.86%. Ascent does have a larger-than-normal discount for setting up autopay, with a 0.50% discount for all credit-based loans and a 1% discount for outcomes-based loans.
For borrowers with cosigners, Ascent offers competitive rates and a quicker 12-month period before you can apply for cosigner release. Other highlights include a 9-month grace period and loan products for career training and bootcamps.

Read full Ascent student loans review>>

Pros

Flexible repayment options for parents
Very competitive APRs for credit-worthy borrowers

Cons

Cosigner release only available after half the repayment term is completed
Late fee of up to $25 (several lenders have eliminated late fees)
Limited information about forbearance options or hardship protections online

HIGHLIGHTS

Loan amounts
$1,000 to total cost of attendance

Loan terms
5 to 15 years for most loans; up to 20 years for medical, dental and law school

Fixed APR
2.59% – 17.99%

Minimum credit score
Mid-600s

Minimum income
Not disclosed

Like most lenders, College Ave Student Loans offers a suite of undergraduate and graduate loans. But it also offers parent loans that have a customizable repayment term. Parents can choose a term anywhere between 5 and 15 years, which allows you to pick a term that best fits your budget. For borrowers with excellent credit and strong financial histories, College Ave may be a solid choice. The lender regularly offers some of the lowest starting APRs in the industry. But if you have fair credit, you may find better deals elsewhere. College Ave’s maximum APR is among the highest on the market.
Read full College Ave student loan review>>

Pros

Longer-than-normal grace period
Skip-a-payment program
Rate match guarantee

Cons

No cosigner release
Student must pursue a bachelor’s or graduate degree

HIGHLIGHTS

Loan amounts
$1,000 to total school-certified cost of attendance

Loan terms
5, 7, 10 or 15 years

Fixed APR
2.84% – 16.74%

Minimum credit score
650

Minimum income
$35,000

Earnest offers four in-school repayment options, four terms for all of its loans, and a longer-than-usual grace period. It has a unique skip-a-payment benefit, where borrowers have the option to skip one monthly payment a year without penalty, and it also boasts a rate match guarantee. Earnest doesn’t charge any fees, and among the lenders we reviewed, it had the highest customer review rating on Trustpilot, with a 4.6 (out of 5 stars) based on more than 7,500 borrower reviews.
Read full Earnest student Loans review>>

Earnest Disclosure
Earnest Disclosure

Actual rate and available repayment terms will vary based on your financial profile. Fixed annual percentage rates (APR) range from 3.14% to 16.74% (2.89% – 16.49% with auto pay discount). Variable annual percentage rates (APR) range from 5.24% to 17.10% (4.99% – 16.85% with auto pay discount). Earnest variable interest rate student loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement.
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Terms and conditions apply. To qualify for this Earnest Rate Match offer: 1) you must submit a completed student loan application; 2) you must provide documentation of an eligible competitive rate offer exclusive of all discounts by calling Client Happiness at (888) 601-2801 or chat on Earnest.com and follow the instructions to send in your proof of lower rate. Limit one rate match per application.
Earnest does not charge fees for late payment, prepayment, or loan origination. However, late payments may still be reported to credit bureaus and may affect your credit score.
Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107.
Earnest student loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770) One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America. (C) 2025 Earnest LLC. All rights reserved.

Pros

Loans available to international students without a cosigner

Interest-only payments while in school

Cons

Higher-than-average rates and fees

Only one repayment option

Must attend a partner school

Not available to first- or second-year undergraduate students

HIGHLIGHTS

Loan amounts
$2,001 to $100,000

Loan terms
10 years

Fixed APR
10.89%

Minimum credit score
Not required

Minimum income
Not disclosed

Although some private student loan lenders will issue loans to international students, they typically require the student to have a cosigner that is a U.S. citizen or permanent resident. If the student doesn’t have close friends or family in the country, it can be difficult to find loans for school.
MPower is one of the only lenders that offers private student loans to international students without a cosigner or collateral. The lender offers visa prep courses and a job search tool for international students, and repaying these loans helps international students build a credit-history in the U.S. MPower works with 500 schools in the U.S. and Canada.

Pros

Offers career training, medical residency and bar exam loans
Cosigner release available after just 12 monthly payments

Cons

Limited repayment terms
Late fee of up to $25 (other lenders have eliminated this)

HIGHLIGHTS

Loan amounts
$1,000 to total school-certified cost of attendance

Loan terms
10 or 15 years

Fixed APR
2.89% – 17.49%

Minimum credit score
Not disclosed

Minimum income
Not disclosed

Like other lenders, Sallie Mae has education loan options for undergraduate, graduate, professional and medical school programs. But it’s also one of the few lenders that has options for students enrolled in trade or certificate programs. Within the professional programs, it offers loans designed specifically to help borrowers navigate periods where they’re not earning much, like during medical residency periods or when studying for the bar exam. Another unique feature: Borrowers who are enrolled in college less than half-time are still eligible to apply. (Many lenders are open to part-time students, but still require at least half-time enrollment.)
Most top lenders today offer at least three or four different terms for repayment; Sallie Mae only offers two for undergraduate loans and one for graduate school loans. But it does allow borrowers to sign up for a graduated repayment period, where they can make interest-only payments for up to a year after the grace period ends.
Read full Sallie Mae student loan review>>

Pros

No late or insufficient fund fees

Multiple rate discounts available
Extra member benefits

Cons

Not available for associate degree programs
Must make 24 months of payments before applying for cosigner release

HIGHLIGHTS

Loan amounts
$1,000 to total school-certified cost of attendance

Loan terms
5-year, 7-year, 10-year, and 15-year terms

Fixed APR
3.23% – 15.99% (with 0.25% autopay discount)

Minimum credit score
Not disclosed

Minimum income
Not disclosed

For those looking for a private student loan without added fees, SoFi® is the top lender. Like most student loan lenders, it doesn’t charge origination fees. But SoFi also doesn’t charge any late fees. In addition to the standard discount for setting up automatic payments, existing borrowers can earn a returning scholar discount. It also offers a cash bonus for borrowers with Good Grades. And students and parents who borrow through SoFi have access to exclusive member benefits like financial coaching and estate planning, plus a rewards program where you can earn and redeem points for activities like checking your credit score and redeem them against your loan.
SoFi’s cosigner release policy — requiring 24 months of on-time payments before applying — is better than some lenders, but there are several lenders that offer shorter periods.
Read full SoFi student loans review>>

What you need to know about student loans
Student loans are issued by the federal government or private lenders to help students pay for undergraduate or graduate studies. The loan goes toward tuition, books, student housing and other education-related expenses.
Once a student loan application is approved, the funds are sent directly to the school to cover tuition, fees and on-campus student housing. Any remaining balance is then disbursed to the student.
All private loans accrue interest from when the loan is dispersed, while some federal loans don’t start accruing interest until you enter repayment. For private loans, in-school repayment options usually include deferment, interest-only or full payment, and repayment terms typically range from five to 20 years.
Federal vs. private student loans
Since private loans don’t offer the same protections that federal loans do, the general advice is to seek private student loans after you’ve exhausted every federal option.

Federal loans

Private loans

Credit Check

Not required for most loans

Required

Minimum income required

Not required

Required

Annual borrowing limits

Borrowing limits apply to most loans

Typically no annual limit

Payments while in schools

Payments deferred until student leaves school

Payments may be required

Eligible for loan forgiveness

Yes

No

Federal student loans
Federal student loans are the first choice for many due to their low rates, flexible repayment options and federal protections.
To apply for federal loans and additional financial aid, students must submit the Free Application for Federal Student Aid (FAFSA) once every school year. Your school will calculate how much you’re eligible to borrow based on the cost of attendance and your family’s financial information.
The federal government limits how much a student can borrow annually and over their lifetime based on the academic year, loan type and the borrowers’ dependency status.

Pros

Income-driven loan repayment plan options

Opportunities for student loan forgiveness

Low interest rates

Eligible for forbearance if experiencing a financial hardship

No credit checks for most loans

Cons

Disbursement fees apply

Only available to U.S. citizens and permanent residents with Social Security numbers

Strict annual and aggregate limits

Private student loans
Private student loans are similar to personal loans, as they are issued by private banks or credit unions.
Private student loan lenders look at students’ credit scores and credit reports to determine interest rates and loan approval. Since most students don’t have enough credit history, lenders often require a qualifying cosigner.
Private loans don’t feature the same benefits as federal student loans, but they can help pay your school’s total cost of attendance if you’re no longer eligible for federal aid.
Most private lenders suggest borrowers start loan repayment while still in school, but most offer in-school deferment or grace periods, although interest will continue to accrue.

Pros

Available to U.S. citizens and qualifying international students
No financial need requirements
Fixed and variable rates
Higher loan limits for undergraduate loans

Cons

Not eligible for federal forgiveness programs
Limited repayment options and hardship assistance programs
Requires credit check
May have higher APRs
Will likely require a cosigner

Student loan interest rates
Current private student loan interest rates range from just under 3% to 18%. The interest rate on your loans depends on the type of loans you have, your education level and the lender issuing the loan.
Rates can be fixed or variable. Fixed interest rates stay the same for the entire repayment period. By contrast, variable interest rates can change over time, so they are usually best for borrowers who want a shorter repayment term.
Average student loan interest rate
Federal student loans
Interest rates on federal student loans are established by federal law. The rates are fixed, so they stay the same for the duration of your loan term.
For federal student loans, we calculated the average interest rate using the rates for the current academic year. The overall average interest rate for federal student loans is 7.76%.
The rates you’ll pay depend on the loan and borrower type. These are the rates for loans issued for the 2025-2026 academic year

Undergraduate: 6.39%
Graduate: 7.94% for Direct Unsubsidized | 8.94% for Grad PLUS
Parent: 8.94%

Private student loans
Private student loans work differently. Lenders set their rate range based on an index, such as the Secured Overnight Financing Rate (SOFR). The rates can change over time as the market fluctuates, so you may find that current rates are higher or lower than when you took out your loan.
Other factors affect your private loan rates, including your credit history, income, debt-to-income ratio and whether you have a cosigner. Looking at the rate ranges advertised by 11 lenders, we calculated the averages: The average fixed rate is 8.76% and the average variable rate is 10.23%. Note that these are only illustrative. They aren’t reflective of the actual average rates offered by lenders.
How to apply for student loans
The following are general tips to consider before applying for student loans, whether federal or private.
Calculate your financial needs
Consider your school’s cost of attendance (tuition, materials, room and board, etc.) and then factor in additional living expenses. Money’s Best Colleges in America contains information about admission, costs, financial aid and graduation rates of hundreds of public and private institutions around the United States.
We recommend you consider federal loans first, as they have several advantages over private loans and a variety of options to choose from.
Shop around for private loans
If you need to take out a private student loan, keep in mind that each lender offers different terms, rates and benefits. They also have different underwriting models, so you may qualify for a lower rate with one lender even if they have a higher starting APR than competitors. That’s why you need to shop around and compare fees and APRs from multiple lenders before making a decision. A good place to start is a marketplace like Credible or LendKey, where you can review rates from several lenders at once.
Tip: Most federal student loans are available without a credit check, so they’re a good option for those with poor credit or no credit history.
Choose the right lender for you
To choose the best student loan, you should have a clear understanding of what each lender requires and what they offer regarding interest rates and repayment options:

Check your lender’s credentials: Only do business with reputable lenders. To determine this, use reputable sources like Federal Deposit Insurance Corporation (FDIC), Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB).
Apply for prequalification: By prequalifying, you get to see what rates, terms and benefits each lender offers, while avoiding a hard credit inquiry. Be sure to understand how different interest rates and terms affect your payments.
Look for lenders with in-school repayment options: Starting loan repayment early will reduce the debt burden. Opt for private lenders with multiple options, a grace period, and no penalties for early loan repayment.
Opt for lenders with low or no fees: Application and origination fees are processing costs added to your principal, which means you’ll pay interest on them. All federal loans have origination fees; private loans typically do not. Note that student loan companies are legally prohibited from charging prepayment penalties. If you can, look for lenders that don’t charge late fees either.
Take advantage of discounts and perks: Many lenders offer autopay discounts and other perks such as free study or tutoring programs and bonuses for good grades or referring friends.

Latest student loan news
Private student loan companies are starting to launch new products and lower interest rates in a bid to capture new graduate school borrowers in the coming years.
The One Big Beautiful Bill Act eliminated the graduate PLUS lending program, effective this summer for new students. As a result, the number of graduate students looking for private financing for their degrees is expected to increase since the federal loan limits will be much lower. Private lenders have said they’re ready to step in. College Ave, for example, announced last month a new STEM Graduate Loan for students in science, tech, engineering and math fields. MEFA, a state-based loan authority in Massachusetts, is “enhancing” its graduate school loan options to better serve students pursuing medical, dental and law degrees.

Best student loans FAQs
What is the interest rate on student loans?
The rate depends on the type of loans you have. For federal loans, the following fixed rates apply: Federal Direct Subsidized and Unsubsidized (for undergraduate students): 6.39%; Federal Direct Unsubsidized (for graduate students): 7.94% and PLUS Loans (for graduate students and parent borrowers): 8.94%.
With private loans, the rates can be fixed or variable. Fixed rates currently range from around 3% to 18%.
Do you need a cosigner for student loans?
Most federal loans are available without a cosigner, even if you don’t have good credit. For private student loans, students will usually need a cosigner with good credit — such as a parent or relative — to qualify for a loan.
Can you get student loans with bad credit?
If you have bad credit, federal loans are an excellent starting point. Most loans are available without credit checks, and the federal government doesn’t require a minimum credit score.
With private loans, qualifying for a loan may be more challenging. If you have poor credit, you’ll likely need a creditworthy cosigner to apply for a loan.
What is the best private student loan lender?
There is no singular best lender for all borrowers. The best lender for you will depend on your (or your co-signer’s) credit history and current finances, what type of degree-program you’re pursuing and how much you value different perks.

Best student loans methodology: How we picked our winners
We reviewed 14 private student loan lenders, evaluating them on more than 20 factors. We prioritized private lenders that offered the following:
Flexible repayment options
Federal student loans have several different standardized payment plan models, whereas private lenders often offer less flexibility. We looked for lenders that offered multiple in-school payment options. We compared the variety of repayment term lengths, favoring lenders with four or more term options, as the length of your term influences your interest rate and monthly payment, we believe that more options for a more customizable loan is valuable. We also considered whether lenders offered cosigner releases and how long a borrower had to wait before applying.
Competitive interest rates and low fees
We preferred lenders that balanced low starting rates for the most credit-worthy borrowers with still reasonable rates for borrowers with fair credit. In this case, we primarily looked for lenders with rates starting at or below 4% and maxing out around 15%, though we did make some exceptions.
Private student loan lenders rarely charge origination or application fees. But some do charge late fees or insufficient fund fees. We gave points to lenders that waived these.
Unique perks, discounts or specialized products
Lenders often specialize in products for specific programs or populations of students, or they offer unique perks and discounts. These helped us identify stand-out lenders that offered something beyond competitive rates and repayment terms.
Borrower protections
As an industry, private student loans lack the consumer protections offered via federal loans, so it’s critical for borrowers to understand their options to reduce or pause payments should they run into problems paying. Forbearance policies vary from lender to lender, and it can sometimes be hard to find clear information about them when shopping around. We favored lenders with transparent policies on their websites and options to defer payments for up to a year, at a minimum.
Summary of Money’s Best Student Loans of May 2026

Abe – Best for Borrower Protections
Ascent – Best for Borrowers Without a Cosigner
College Ave – Best for Parents
Earnest – Best for Flexible Repayment
MPower Financing – Best for International Students
Sallie Mae – Best for Non-Degree Programs
SoFi® – Best for Member Perks

Financial advisors can help people make the most of their money and grow their wealth, but this expertise comes at a rising cost. A pair of new studies finds that the financial benefits of working with an advisor are significant, but the cost of that expertise is rising.
A new survey of nearly 2,000 investors from the TIAA Institute finds that households that hire financial advisors have an average net worth more than twice that of households who don’t use professional help for managing their finances.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

The research reveals that the average family with a financial advisor had a net worth of $800,000, while those without advisors had an average net worth of $388,000. Notably, this disparity holds true even after controlling for differences in income and other demographic factors.
“We found that those households with advisors demonstrated better financial habits,” says Surya Kolluri, head of the TIAA Institute. Working with an advisor improves a variety of financial behaviors. For instance, more than 90% of people who work with an advisor save consistently, a 15-percentage-point increase over people who don’t seek professional help. They’re also more confident about their financial decisions, he adds — findings that hold true regardless of people’s wealth.
Getting guidance from a pro helps people do a better job figuring out how much to save, allocate their assets across a portfolio and make more efficient use of tax-advantaged accounts, the research found. More striking: These benefits exist regardless of how much money you start out with, Kolluri says.
“We clearly show it’s not the level of net worth that you have,” he says. “At any level of wealth, advisors have a positive impact.”
Professional help is getting pricier
While the TIAA Institute makes a compelling case for seeking out professional financial guidance, a second study finds that obtaining this help has become more costly: According to the 2026 State of Financial Planning Fees from Envestnet MoneyGuide, over half of financial advisors raised their fees last year.
The average annual retainer charged by advisors rose 52% since 2023, jumping from nearly $4,500 to more than $6,800. Subscription-based advisory services nearly tripled over the same time period, with monthly fees jumping from $215 to $595. Flat fees rose by a comparatively more modest 15% to just over $2,900.
The single area where fees dipped was for assets under management, or AUM. That average fee fell from 1.05% to 0.96%.

Where People Are Investing Right Now

Robinhood lets you trade stocks and ETFs 24 hours a day, 7 days a week
CIT Bank: Earn up to 4.10% with a high-yield savings account
American Hartford Gold: Explore different gold IRA options and protect your wealth

A little background: AUM is the traditional compensation model for financial advisors. Typically, customers pay an annual fee of about 1% of the total value of their portfolio, deducted quarterly or monthly. Paying the person who manages your portfolio a percentage of your nest egg has advantages. It is a simple formula, and it incentivizes your advisor to make good investment decisions, since portfolio growth for you means a bigger payday for them. But the model has some significant drawbacks, too, which is why advisors today are looking for alternative ways to get and keep clients.
First and foremost, you need to start out with a lot of money. Minimums of $100,000, $250,000 or even more are typical — a framework that locks out a significant percentage of people, especially younger and lower-income people, from having access to high-quality financial advice.
Another drawback, according to Matt Wilson, head of business strategy at Envestnet MoneyGuide, is that investment expertise isn’t the only kind of financial advice people need. It’s now more likely to be intertwined with tax planning, estate planning and longevity planning, as well.
This is shaking up the industry’s approach to pricing, he says. “Advisors have experimented with different approaches on how they should be charging,” he says.
‘Self-serve’ advice is an entry point for many
Another trend that has shifted the financial advisory landscape is the growing adoption of DIY investing platforms and robo-advisors, which many people use as an on-ramp to the world of professional money management.
“Consumers or households who have less complex investment needs and less wealth in general may be completely fine [with] services provided through an online or digital-first experience, not engaging a financial advisor,” Wilson says.
As a result, more advisors today are embracing the pricing model that’s become ubiquitous across industries ranging from fast food to airlines to cable TV: unbundling. Rather than a long-term, full-time commitment, a growing share of advisors now offer tools that augment the growing use of DIY investing tools, such as subscriptions or one-off consultations.
“It’s giving the consumer more choice,” Wilson says, and it improves transparency. “It’s more clear what the cost is associated with that service,” he adds.
Especially for younger generations of investors who are more comfortable interacting digitally than over the phone, self-education and research is often the first step before people hire an advisor, Wilson says.
“As their wealth continues to grow, that’s where the trend becomes clear. They want to talk to somebody, and getting professional advice costs money.”
Even if you aren’t in a position to pay for advice just yet, Kolluri says “many companies offer digital tools” to help people start and maintain good money habits.
Your company’s 401(k) plan is a good place to start, he suggests. In its research, the TIAA Institute found that people benefit from this advice regardless of their financial circumstances. “What we’re finding is, if you access that advice, it’s going to help you,” he says.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

The three bucket strategy is a popular retirement method that involves saving for short-, medium and long-term goals. For some investors, adding gold into the mix can allow for diversification and a hedge against inflation.
If you’re saving for retirement, here’s how to plug gold into a bucket strategy when you’ve never owned the precious metal before.

Where People Are Buying Gold Right Now

American Hartfold Gold – Get an free investor kit, plus see if you qualify for $25,000 in free silver
American Silver & Gold – Free account set up, free insured shipping and free storage for up to 5 years
Explore gold exposure with a gold ETF — Public’s investing app can do this for you

How does the bucket strategy work?
The first bucket experts recommend that savers fill is for the short term. This is typically made up of cash and cash alternatives, such as certificates of deposit (CDs), that will help you pay for your everyday expenses, like housing, gas and groceries. While financial advisors tend to recommend building an emergency fund that can cover your expenses for three to six months in case you lose your job or a surprise bill pops up, that timeline may be stretched to one to three years for retirees. That’s because in retirement, you no longer have a paycheck to cover your living expenses, and you don’t want to be put in a position where you have to sell long-term assets during a correction and lock in permanent losses.
The second budget generally consists of bonds and income-generating stocks. Think of this bucket as cash that you may need in three to seven years.
The final bucket contains long-term growth assets that have time — like eight years or more — to ride out volatility. You shouldn’t have to touch these assets until that time in order to give these stocks enough time to recover from corrections.
You can and should adjust the bucket strategy to fit your goals and risk tolerance. For example, it may make more sense for your second bucket to include money you won’t need in three to five years, and your third bucket to consist of money you won’t need to touch for at least five years.
Where gold fits into the bucket strategy
Like with stocks, gold’s price can be volatile in the short term. That’s why it should generally be allocated to your third bucket. Ideally, you won’t need to sell the gold for a set amount of years, which gives it flexibility to recover from market downturns.
Beginners may want to purchase gold via exchange-traded funds (ETFs). These funds are highly liquid and less complicated to invest in than physical gold, which is less liquid and could come with additional costs, such as shipping, storage and insurance.
While gold can be a valuable asset to add to your portfolio, you shouldn’t sell all your long-term assets to buy gold. It’s important to maintain a well-diversified portfolio so that when one portion of your portfolio performs poorly, another will hold steady or even outperform. (Gold and stocks tend to not move in sync, which is why gold is seen as a good diversifier.)

Where People Are Buying Gold Right Now

American Hartfold Gold – Get an free investor kit, plus see if you qualify for $25,000 in free silver
American Silver & Gold – Free account set up, free insured shipping and free storage for up to 5 years
Explore gold exposure with a gold ETF — Public’s investing app can do this for you

Experts typically recommend limiting your gold exposure to 5-10% of your overall portfolio. Beginners may want to start with a small portion and gradually accumulate gold leading up to retirement. Keep an eye on how much of your portfolio gold is taking up. If it grows in value, you may want to rebalance by selling some gold and investing that money in an asset that is underweight in your portfolio.
What to consider before you buy gold
Before you buy gold, it is important to assess your risk tolerance and financial goals. Ask yourself the following questions:

What is your time horizon for medium-term and long-term assets?
How much money do you have to withdraw each year to cover expenses?
Are you comfortable with sharp price swings, which gold may exhibit from time to time?
Do you prefer storing physical gold or investing in a fund?

Keeping the bucket framework front and center can allow you to invest enough in gold to benefit without taking on too much risk.

No matter how many years you have been in debt, you can still take steps to break the cycle and get your finances on track.
This simple five-step process to getting out of debt borrows inspiration from personal finance gurus such as Dave Ramsey and Suze Orman.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In

1. Set up an emergency fund
Losing your job or facing a surprise bill can lead to digging yourself into more debt if you don’t have funds set aside to cover emergencies. Financial advisors tend to recommend having enough cash readily available to cover three to six months’ worth of your expenses.
Putting this money in a high-yield savings account allows the money to grow even while it’s sitting with the bank.
Gold Investor Kit Offer: Sign up with American Hartford Gold today and get a free investor kit, plus receive up to $20,000 in free silver on qualifying purchases
2. Review spending and create a budget
As you commit to building an emergency fund, you can review your total debt and monthly expenses. Seeing where your money goes will give you opportunities to cut costs and free up space in your budget for debt repayment.
Maybe you’ll discover that you spend more than you’d like on dining out and subscription services, and making meals at home and cancelling a streaming service or two could put some extra cash back in your pocket. You can use that extra money to pay off debt.
You can also use your findings to create a budget that you can stick to, ideally lowering your current spending so you have leftover money to put towards your debt payments. You can create a budget with pen and paper, a spreadsheet or the help of a budgeting app such as YNAB.
Free Trade: Check out Robinhood’s online trading platform and get the first trade on them
3. Assess your debt
Now it’s time to get a good understanding of your debt situation. List the balances and annual percentage rates (APRs) of your financial obligations.
Make sure you’re paying the minimum amount on all of your debts, then you can start aggressively paying off the remainder of the balances.
4. Choose a repayment strategy
Two popular strategies for paying off debt are the avalanche method and the snowball method.
The snowball method entails paying off your loan with the smallest balance first, then moving on to the second-smallest balance and so on. That way the small wins along the way will keep you motivated.
The avalanche method involves paying the highest-interest debt first, then moving onto the debt with the second-highest interest rate and so on. This method typically results in you paying less interest over time.
Remember that in both cases, you should be paying the minimum required on all debts.
Extra Money: Get up to $1,000 in stock when you fund a new active SoFi invest account
5. Prevent a debt rebound
You want to make sure you stop debt from reaccumulating while you’re paying off your debt. That may mean sticking to a strict budget, automating payments and only using one credit card instead of the several you were using before. (You can keep the remaining cards active with one small monthly subscription, if you want to build your credit history, if it makes sense for your overall financial plan.)
You should also avoid taking out loans or new credit cards as you pay off debt.

Must Read

Warren Buffett on Market Volatility — and 3 Ways You Can Take Advantage
Experts are Bullish on Gold — Here’s How to Get In