Also, free credit reports, early 401(k) withdrawals, the power of vegging out
| | | Still Waiting For Your Stimulus Check? Here’s Why
Around 80 million Americans got their stimulus payments at some point last week. If you weren’t one of them, don’t panic. There are many reasons why your $1,200 (or whatever amount you qualify for) might not have made it to your bank account or mailbox just yet. Here’s a rundown of seven things that may have held up your payment, and what to do in the meantime.
How To Get Your Free Weekly Credit Reports That Everyone Is Now Eligible For
Need something new to binge? Equifax, Experian and TransUnion have you covered. Starting now through April 2021 you can pull your credit files from the three major bureaus for free — Every. Single. Week. Take them up on the all-access pass (three reports per week) and you’ll have more than 150 files of riveting bedtime reading for the next year!
Overkill? Not necessarily. Right now we all need to keep an eye on financial activity that’s tracked in our credit reports. If you’ve made arrangements with a lender for payment postponement, reduction or forbearance, you want to make sure it’s accurately reported. Also, tough times bring out scammers and identity thieves. Follow these simple instructions to pull your first round of free credit reports.
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The Power of Stepping Away: No, really. Put the phone down.
Do more, earn more, train harder, work smarter. On a daily basis we’re told to "hack" our bodies and minds for peak performance. The result?: Burnout, loneliness, anxiety and the nagging question: Where’s the fulfillment I was promised?
Our guest on this week’s HerMoney podcast* is Celeste Headlee, author of "We Need to Talk: How to Have Conversations That Matter." Her new book — "Do Nothing: How To Break Away From Overworking, Overdoing, And Under-living" — is a manifesto on how we can all stop sabotaging our well-being and start living instead of doing. Celeste tells us that it’s time for a global shift in our thinking. She breaks down the "busy-ness" delusion and lays out tactical advice on setting boundaries to benefit our brains. Boredom and time-wasting are where the magic happens.
In Mailbag, Jean and Kathryn take your questions about how much you need to fully fund your child’s college education, steps to take after bankruptcy and the best budgeting accountability tools. In Thrive, Jean breaks down different types of life insurance and how to figure out what you might need.
Did the Coronavirus Snuff Out Your FIRE Dreams?
A plunging stock market may have thrown a major wrench in early retirement plans. But some of the principals of the FIRE movement — extreme savers who retire decades early — can help you thrive during these difficult times. Grant Sabatier, one of the leaders of the FIRE movement, shows us how today’s circumstances can lead us to a better financial future.
401(k) Loan vs. Hardship Withdrawal: How to Choose
You need money and you need it now. Never before have early 401(k) withdrawal terms been better for those in dire need of cash. The Coronavirus Aid, Relief and Economic Security Act (CARES Act) takes some of the sting out of raiding your employer-sponsored retirement account. We still advise against it, but if you must, here's how to minimize the short- and long-term fallout of cashing out your 401(k).
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*This is a sponsored podcast, and it’s a part of a paid campaign with Fidelity Investments, which means we were compensated for this piece of educational content. Thanks!
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