Is There an Income Cap for a Roth IRA?

Retirement

Roth IRAs allow your savings to grow tax free and allow tax free withdrawals in retirement. Your income determines whether you can contribute and how much you can add. The IRS sets annual income limits…

3 Ways To Deposit Cash Into Someone Else’s Account

Mortgage

Willowpix/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways You can deposit money into someone else’s bank account via electronic transfer, wire transfer or by depositing cash in person at a branch. Some banks restrict cash deposits to accounts that are not in your name to prevent money laundering and…

How to Protect Your Bank Account From Hackers: Tips From Four Experts

Mortgage

Key takeaways Verify you’re on legitimate bank websites and apps before entering login information — hackers create convincing fake sites to steal credentials. Use strong, unique passwords for each financial account and enable two-factor authentication for an extra layer of security. Be skeptical of urgent messages asking for personal information…

Checking Vs. Savings Accounts: Differences And How To Choose

Mortgage

Hiya Images/Corbis/Getty Images Key takeaways A checking account is for managing your day-to-day finances, such as paying bills, making debit card transactions and writing checks. A savings account is for storing funds for emergencies or short-term goals, and the money typically earns a modest amount of interest. An effective money…

Is There Still Such a Thing as a 5% CD?

Mortgage

Photo courtesy of Karen Bennett; Illustration by Hunter Newton/Bankrate Currently, you can lock in annual percentage yields (APYs) on certificates of deposit (CDs) at and slightly above 4% with many nationally available CDs. Only a select few financial institutions offer promotional CDs that earn a 5% APY or greater, and…