As of October 24 2009, the FDIC has taken over 106 US banks. While the FDIC does not publish a troubled bank list, you can use Bankrate.com to check your bank's rating.If you have concerns about your bank, you should maintain your bank balances below $250,000 at each bank. This limit has been increased from $100,000 until December 31, 2013.Visit the FDIC - Frequently Asked Questions for more information. Read Full Story

The best way to become a millionaire is to do what millionaire do. The list I have compiled highlights several ways past millionaires have made their fortunes. It includes only proven ways to hit that million dollar mark and filters out the “get rich quick” schemes.The Millionaire List:1 – Real Estate Investing – Historically, real estate has been on of the best ways to accumulate wealth. The use of leverage or using others people’s money gives an investor the opportunity to multiple his wea... Read Full Story

As with any search, you should look locally first for the best CD and savings rate, usually a local paper will be a good start. Then check out these 2 websites:1 – BankRate.com – This site lists the best national rates for all types of personal finance products.2 – iMoneyNet.com – This site focuses on the best rates at money market funds.In addition, you should always check your current financial institution (including banks, credit unions, brokerage firms) about the best rates. Often they w... Read Full Story

No one likes paying higher and higher property taxes but there are legal ways to reduce your taxes. If you own property be sure to file for a homestead exemption. Many states offer reduced real estate taxes if you file and qualify for a homestead exemption. The savings can be a couple hundred dollars a year. In addition, filing a homestead can potentially protect your home from certain legal actions.Check out these links for more information:1 - Wikipedia - Homestead Exemption2 - LawCheck.net... Read Full Story

Today, more banks are charging customers for services and penalties than ever. With bank bottom lines sagging and customers struggling to maintain balances, the potential for banks to impose fees is high and growing. If you have been hit by a fee or penalty at your bank, it may be time to review all the potential fees and penalties that could cost you more money in the future.While there is talk about the government reviewing high bank fees, it is worth your time to do a quick review of you... Read Full Story

If you have a traditional IRA and absolutely need cash now, there are several ways to get cash from your IRA before the age of 59 ½. While most financial advisors do not recommend these options because the money in an IRA is tax advantaged, meaning you can potentially earn a return on the entire lump of cash before taxes. This taxed advantage can be a substantial return over time.But if you have run out of options to raise cash from other sources, tapping into your IRA may be an option. He... Read Full Story

If you watch any TV or surf the internet, you probably have seen numerous advertisements from companies wanting to purchase your structured settlement or annuity. If you have a structured settlement or annuity to sell, it might make sense to explore this option if you need the cash immediately. But you should be aware of the potential draw backs and issues concerning selling a structured settlement.Some issues concerning the sale of a structured settlement include:1. Roughly two thirds of sta... Read Full Story

Are you leaving money on the table because of laziness? If your main bank credits very low interest on your account balances, you can get a nice boost by managing these balances. If you have accounts at places like E*Trade, Schwab, ING Direct, Ally or even Capital One, you can easily transfer money between accounts to maximize the interest you are getting. 1 or 2% may not sound like a lot of money but if you have a $5,000 average balance and manage it to the highest interest rate, you coul... Read Full Story

If you need cash to pay bills or just live a little better, you may be able to find hidden money that you might not know about. Many people have assets they over look or have just forgotten about. You can think of it as a treasure hunt that may pay off. Each person should do a quick check of the following list to see if they may have hidden cash. When you are searching, check for yourself and family members, living and deceased, you never know what could have been forgotten.1. Unclaimed cash ... Read Full Story

It seems reverse mortgages are getting more popular in these difficult financial times but does the benefit out weigh the potential cost? Yes, you do get a portion of the equity now to pay bills or use for any other propose and you get to stay in your house. These two benefits may be the only things that matter to you, if they are, a reverse mortgage may be the financial help you need.But if you dig a little deeper, you’ll find additional upfront costs to get and maintain the reverse mortgage... Read Full Story