Wallet Hacks

401(k) Loans of up to $100,000 Employers can also allow coronavirus-related 401(k) loans up to $100,000 instead of the standard $50,000 limit. However, this $600 weekly benefit—formally known as Pandemic Unemployment Compensation (PUC)— is only one part of the Cares Act unemployment package. The Pandemic Emergency Unemployment Compensation (PEUC) extends state unemployment insurance benefits by 13 weeks—up to 39 weeks of total benefits. The Cares Act lets taxpayers deduct their first $300 ($600 for joint filers) in tax-deductible charitable contributions in 2020.

But when I project the rate of return for long term investments, such as retirement savings I won't need for 30 years, I use 8% as my average. If you can save $1,000 a month, you need an annual rate of return of 11.26% to reach $1.5 million in 25 years. If you can save $500 a month, you'll need an annual rate of return of 15.6% to reach $1.5 million in 25 years. A good rate of return on your investment is one that beats the S&P 500 index – which we know has an average return of nearly 10%.

Through careful screening, Wealthsimple makes sure that their SRI portfolio includes only the following types of ETFs: * Low Carbon: Global stocks with a lower carbon exposure than the broader market * Gender Diversity: Companies with more gender diversity among their leadership If investing in socially responsible response causes is an idea that excites, Wealthsimple could be the robo-advisor for you. No matter how much money you have to invest, Wealthsimple wants your business * Invest in fractional shares: If you deposit an amount of money that's not large enough to buy an entire share of an ETF, you don't have to wait to invest. Wealthsimple customers get access to a low-risk investment account with a 2% annual yield (20 times higher than the average savings account) and no account minimums, low balance fees, or transfer and withdrawal fees. If you want access to a financial planner, you'll need to be an Ellevest Premium customer, which comes with a management fee of 0.5% and a $50,000 account minimum.

You can get $200 if you open a Huntington 5 Checking account online or in person in a branch (bring the code) and make cumulative deposits of at least $1,000 within sixty days of opening your account. You can get $150 if you open a Huntington Asterisk-Free Checking account online or in person in a branch (bring the code) and make cumulative deposits of at least $1,000 within sixty days of opening your account. Huntington Bank offers savings and money market accounts, though without any promotions, called Huntington Relationship Savings and Huntington Relationship Money Market Account. The Huntington Relationship Money Market Account offers 24-hour grace overdraft fee relief, free overdraft protection, all day deposit and an app.