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Tag: Financial Checkup

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Federal Student Loan Forgiveness FAQ

  • Posted on August 26, 2022October 26, 2022
  • by BrightDime

The White House announced a plan to forgive some student loan debt along with other changes to federal student loan debt on Wednesday, August 24th. We’ve got answers to the…

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When is Buy Now, Pay Later a good idea?

  • Posted on July 29, 2022February 2, 2023
  • by BrightDime

Buy Now, Pay Later (or “BNPL”) has exploded in popularity recently. While each BNPL company’s offerings are different, the most common is a simple zero percent interest installment loan. When…

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What can you do with a 401(k) from a previous job?

  • Posted on March 19, 2022
  • by BrightDime

If you leave a job where you had a 401(k) you’re faced with a decision: what do you do with the 401(k) account at your old job? The money in…

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What is a rollover IRA?

  • Posted on March 12, 2022November 9, 2022
  • by BrightDime

A rollover IRA is an Individual Retirement Account that is funded by closing a 401(k) (or similar account) at a previous job and moving those funds to the new individual…

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What does “vesting” mean?

  • Posted on March 4, 2022March 4, 2022
  • by BrightDime

Vesting refers to the process of a financial benefit becoming yours over time. The most common example is a 401(k) match. (There are other types of compensation that might vest,…

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What happens to my 401(k) if I leave my job?

  • Posted on February 19, 2022March 4, 2022
  • by BrightDime

A 401(k) is an employer sponsored, tax advantaged account for saving and investing for retirement. You contribute pre-tax dollars to it, invest that money, and then withdraw the money in…

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What happens when I “refinance”?
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What happens when I “refinance”?

  • Posted on January 30, 2021July 26, 2022
  • by BrightDime

“What is refinancing? I hear people talking about refinancing their home, their student loans, but what is refinancing and how does it work?” We frequently hear a version of this…

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Which type of IRA should I contribute to?
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Which type of IRA should I contribute to?

  • Posted on January 16, 2021July 26, 2022
  • by BrightDime

IRA’s, or Individual Retirement Accounts, are tax advantaged accounts for saving and long term investing for retirement. The two most common types are Roth and traditional. You can make contributions…

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What’s the difference between a Roth and traditional IRA?
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What’s the difference between a Roth and traditional IRA?

  • Posted on January 12, 2021July 26, 2022
  • by BrightDime

An IRA (or Individual Retirement Account) is a tax advantaged account for saving and investing for your retirement. IRAs are not connected to your employer like a 401(k) is and…

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How should I start setting financial goals?
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How should I start setting financial goals?

  • Posted on December 24, 2020July 26, 2022
  • by BrightDime

Imagine that running a 5k has been one of your goals for a long time. You want to check it off your list so you’re preparing. Your alarm sounds an…

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