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Investing

How to Invest $50,000 Wisely

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

You’ve paid off your debts and built yourself a nice little nest egg of $50,000 — and you may be wondering what you should do with it. Although the phrase “a penny saved is a penny earned” holds truth, you may want to start investing your money.

Investing is an excellent option because of the growth potential of the money you invest. Unfortunately, you run the risk of losing purchasing power if inflation eats away at your savings. Even if you choose to hold your money in a high yield savings account, you may not be able to outpace inflation.

Getting started with investing can be a daunting task for new investors. Let’s take a look at the different types of investment styles and determine the best way to invest $50,000.

Determine your investment style

The first thing you’ll need to do is decide how you want to invest.

Do it yourself

DIY is an option for almost everything in life, although painting your own home and building your investment strategy are two very different tasks. The idea is that you will complete the process without any professional help.

If you choose a DIY investment strategy, it is important to map out your investment strategy with careful research and planning. After you are comfortable with your plan, you will need to open a brokerage account to purchase investments.

The obvious advantage to this tactic is that it’s typically less expensive than many other options. However, you need to be comfortable making large financial moves without any professional assistance.

Robo-advisor

Robo-advisors vary widely based on the brokerage firm. However, the service generally manages your investments based on an algorithm. Although some firms offer lower fees, many offer fee structures that are comparable to traditional financial advisors.

Although you will not receive personalized attention, a robo-advisor is tailored to your investment interests. Plus, many robo-advisors offer lower entry fees than traditional financial advisors. In fact, some robo-advisors, like Betterment, have no minimum balance requirements.

With a robo-advisor, you may need to double check that your strategy aligns with your goals. A physical person won’t be managing your account, so you will need to ensure that the robo-advisor understands your goals and builds your strategy appropriately.

Hire a professional

It may be a good idea to hire a financial advisor if the idea of managing your money without help is scary. A professional will help you to get the most out of your investments with minimal effort on your part.

If you choose this route, make sure you research your future financial advisor carefully, as some don’t have your best interests in mind. Find an advisor with credentials and recommendations that check out.

5 smart ways to invest $50,000

Once you’ve decided how you will start investing, you need to choose your investments. If you chose to work with a professional, they’d be able to guide you with your investing decisions.

There is no single best way to invest $50,000. The best investment strategy for you will vary based on your unique situation. However, investing your money can be a wise choice for your financial future. Let’s take a look at five smart ways to invest 50,000.

1. Create an emergency fund

An emergency fund is a great way to safeguard against the unexpected. Everyone faces unexpected expenses at some point in their life, so it makes sense to be prepared. These unexpected expenses can be anything from losing your job or an unexpected health problem. These heart-stopping moments will be slightly less traumatic if you have a nice emergency cushion.

You’ll also want to consider placing your emergency fund in an account that won’t charge fees for withdrawals. It’s important to have quick access to cash for anything life throws at you

If you have a solid emergency fund, but would like extra savings available, then you may want to consider placing your money in a CD. Although you would not have immediate access to your money without fees, you may be able to plan your CD deposits around large purchases. The CD will help your savings grow while you prepare to make a large purchase (like a home or vehicle).

2. Max out your retirement options

If you ever plan to stop working, then you’ll need to maximize your retirement savings, especially if you have available cash to invest. Luckily, there are numerous options when it comes to retirement savings.

First, if your employer offers a 401(k), you should contribute as much as you are allowed. Other common types of employer-sponsored retirement accounts include 403(b), 457 and the government thrift savings plan. Some employers will contribute matched amounts to your retirement account. You’ll want to maximize this option if it is available.

Unfortunately, not every employer offers a retirement savings plans. Don’t worry; there are other options available.

An IRA (Individual Retirement Account) will allow you to deduct the investments you make from your income. Opening an IRA will allow your funds to grow tax-free until you withdraw them. A Roth IRA is very similar to a traditional IRA. According to Chad Manberg, a CFP at the Strategic Income Group in Arizona, the number one reason to prioritize a Roth IRA over a traditional IRA is “tax-free growth.” However, he added, “Ideally, someone would have both a Traditional and a Roth IRA by the time they get to retirement.”

“The major time to prioritize one over the other is if the 401k is offering a match. In this case, the 401k should be prioritized,” said Rick Vazza CFP at Driven Wealth Management. Other than that period of prioritization, a diverse strategy between both IRAs and a 401k may lead to a good investment portfolio.

Visit the following resources to learn more about contribution limits:

3. Invest in the stock market

If your retirement accounts are maxed out, you may want to start investing in other ways. Here are a few ways to get started:

  • ETFs. Investing in a low-cost exchange-traded fund (ETF) could be a good option if you want less fees more flexibility with your investments. ETFs are traded like stocks, so you will have the ability to get started with just one share.
  • Mutual funds.Mutual funds are another great way to get started investing in the stock market. Instead of buying a share, you buy into a fund.

Both of these are a good starting point for stock market investments.

Fees
$0.00 per trade

Per Trade Stock Trading Fee

Account Minimum
$0
Promotion

Cash bonuses are available for new accounts. Bonuses start at $50 if you deposit or transfer $10,000+.

Fees
$0.00 per trade

Per Trade Stock Trading Fee

Account Minimum
$0
Promotion

Get up to $600 when you open and fund an account within 60 calendar days of account opening, depending on deposited amount.

Fees
$2.95 per trade

Per Trade Stock Trading Fee

Account Minimum
$0
Promotion

Up to 100 free trades

4. Invest 50k into a 529 account

If you have children then you may want to consider investing that money in a 529 account. A 529 can help cover your child’s education expenses. Anything from private K-12 to graduate education can be paid for through this account.

According to the College Board, the average annual cost to attend college was between $9,970 and $34,740 for state and private schools respectively for the 2017-2018 academic school year. A 529 savings plan will allow you to invest in mutual funds and other investment vehicles through the plan. There are also some tax advantages associated with 529 accounts.

Investing $50,000 into a 529 may be a solid plan now if you intend to pay for your child’s higher education later on.

5. Create the best mix for your financial future

Everyone’s financial situation is unique, so there’s no one-size-fits-all investment strategy. Instead of investing the full 50,000 on one investment vehicle, it may be wise to have a healthy mix of investments.

As you go through the investment process, make sure to analyze and adjust your portfolio along the way. Investors should rebalance their investments on a regular basis to maximize the effectiveness of their portfolio.

Think about your goal

Before you get started, think about why you want to invest 50k in the first place. You have plenty of options to build the right investment portfolio, but you’ll need to create a portfolio that will take you where you want to go.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Sarah Sharkey
Sarah Sharkey |

Sarah Sharkey is a writer at MagnifyMoney. You can email Sarah here

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Investing

USAA Investments Review 2019

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

USAA is known for their great workplace and customer service. One in four employees are veterans or military spouses. These are attractive traits to draw in customers who are military service members.

USAA offers a slew of different products, including car, health and homeowners insurance. They also have checking accounts, mortgages and personal loans available as well, though this review will focus on the company’s investing products. While most of USAA’s offerings target military service members and their families, anyone can open an investment account.

USAA Investments
Visit USAASecuredon USAA Investments’s secure site
The Bottom Line: Unless you’re already a member of USAA and want to keep your investments within one company, you don’t need to put your money here.

  • A $3,000 minimum balance is hefty.
  • High costs per trade and other fees.
  • Longevity is attractive but costs are a turnoff.

Who should consider USAA Investments?

Online brokers are a great way to let you manage your money, whether you’re new to investing or you’ve been handling them for years.

If you’re already a USAA member, enlisting them to be your online broker is enticing. Keeping your money all in one place can be a convenient option, and you can talk to real, live people when you have investment questions or concerns.

If you’re looking for a specific kind of account, such as a custodial or SIMPLE IRA, you can find it at USAA. Their long list of various account types can be a big draw if you need something in particular.

USAA Investments fees and features

Stock trading fees
  • $8.95 per trade
Amount minimum to open account
  • $500.00
Tradable securities
  • Stocks
  • ETFs
  • Mutual funds
  • Bonds
  • Options
Account fees (annual, transfer, inactivity)
  • $70 full account transfer fee
  • $20 partial account transfer fee for a security through the Direct Registration Service (DRS); $0 to transfer a security that is not eligible for DRS.
  • $10 if less than $100 in account and no activity for 12 months
Commission-free ETFs offered
Mutual funds (no transaction fee) offered
Offers automated portfolio/robo-advisor
Account types
  • Individual taxable
  • Traditional IRA
  • Roth IRA
  • 529 Plan
  • Joint taxable
  • Rollover IRA
  • Rollover Roth IRA
  • Custodial Uniform Gifts to Minors Act (UGMA)/Uniform Transfers to Minors Act (UTMA)
  • Custodial IRA
  • SEP IRA
  • SIMPLE IRA (Savings Incentive Match Plan for Employees)
  • Trust
  • Guardianship or Conservatorship
Ease of use
Mobile appiOS, Android
Customer supportPhone, 4 branch locations
Research resources
  • Earnings press releases
Fees
$8.95 per trade

Per Trade Stock Trading Fee

Account Minimum
$500.00
Promotion
N/A
Fees
$0.00 per trade

Per Trade Stock Trading Fee

Account Minimum
$0
Promotion

Get up to $600 when you open and fund an account within 60 calendar days of account opening, depending on deposited amount.

Fees
$0.00 per trade

Per Trade Stock Trading Fee

Account Minimum
$0
Promotion
N/A

Strengths of USAA Investments

Extensive choice for different accounts: You’ve got your choice of different accounts to choose from when signing up for a USAA brokerage account. If you’re a business owner and need an SEP or SIMPLE IRA (Savings Incentive Match Plan for Employees), you can take your pick. If you need a Custodial IRA or 529 Plan, they’re available. There’s also joint accounts, trusts and conservatorship accounts.

Great customer service: While a machine answers your phone call, it doesn’t take much time or effort to get to a human representative. Whether you have a question about certain stock performance or less-risky exchange-traded funds (ETFs), the easy customer experience spans across USAA’s product offerings.

A robo-advisor option is available: To complete with robo-advisor companies, USAA offers their Digital Investment Advisor. If you like the idea of a robo-advisor and a brokerage in one, USAA has the best of both worlds for you. Keep in mind that the annual fee for the robo-advisor is 0.50% a year — that’s double other leading robo-advisors like Wealthfront or Betterment.

Drawbacks of USAA Investments

High trading costs: $8.95 per trade is pricey. Other companies charge anywhere from $4.95 to $6.95 per trade. This could deter new investors from making any transactions and active investors might find this too costly for their taste.

Lots of fees: There’s a fee for almost everything. A transfer fee, whether partial or full, can range from $20 to $70. If you aren’t active in your account for a year, you’ll get charged $10 and then your account will close. Make sure you fully understand the rates and fees, or you might get stuck paying way more than you expected.

Restricted expansion to other products: While USAA Investments is open to the general public, it’s hard to get access to their other products — such as health insurance or loans — unless you’re in the military or related to a service member.

Limited info available online: If you have specific questions or concerns regarding your investment account, you may have trouble tracking down answers on USAA’s website. Though many competitors have detailed FAQs to help consumers, you may need to speak with a customer service rep to find answers at USAA.

Is USAA Investments safe?

Investing in any form carries risk. As you look into different investment accounts, it’s important to see if a company has security measures in place in case fraud or other theft takes place.

USAA doesn’t have a policy in place that ensures members get their money back in the event of fraud, identity theft or other malicious activity. The most you can do is call to report suspicious activity, but there’s no guarantee you’ll get a refund for the lost cash. However, USAA is a member of the SIPC — Securities Investor Protection Corporation — which means your money is insured if the company goes under.

Final thoughts

For current USAA members, having your investments under the same umbrella as some other products you use could be a useful option. But for those who don’t serve in the military or those who aren’t related to servicemembers, you may find better options elsewhere.

A high account minimum with high trading costs means you can find less-expensive options elsewhere.

Open an USAA Investments accountSecured
on USAA Investments’s secure website

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Dori Zinn
Dori Zinn |

Dori Zinn is a writer at MagnifyMoney. You can email Dori here

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Investing

Vanguard vs Fidelity: Which Broker Should You Choose?

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

When it comes to building long-term wealth, investing in markets is the key to growing your money. Vanguard and Fidelity are two brokerage giants you’ve probably heard of. In fact, we have ranked both companies among our top picks for the best online brokerages. While it may seem difficult to choose between Vanguard and Fidelity, we’ve broken down each company’s fees, account minimums and special features to help you decide which broker is best for your needs.

For beginner investors who don’t have a lot of money stashed away, Fidelity is the clear winner since it has no account minimum. Established investors who want more personalized attention or who want to invest their money in futures may prefer Vanguard. Read on to find out more about these brokers and how they differ from one another.

Vanguard vs. Fidelity: Feature comparison

VanguardFidelity
Stock trading fees
  • $7 per trade for the first 25 trades per year, $20 per trade thereafter for accounts with less than $50,000
  • $7 per trade for accounts with $50,000 to $500,000
  • $7 per trade for accounts with $50,000 to $500,000
  • $2 per trade for accounts with $500,000 to $1M
  • $0 per trade for accounts with $1M to $5M for the first 25 trades per year, $2 per trade thereafter
  • $0 per trade for accounts with more than $5M for 100 trades per year, $2 per trade thereafter
  • $0 per trade for accounts with $1M to $5M for the first 25 trades per year, $2 per trade thereafter
  • $0 per trade for accounts with more than $5M for 100 trades per year, $2 per trade thereafter
  • $0.00 per trade
Amount minimum to open account
  • $1,000 for Vanguard Target Retirement Funds and Vanguard STAR® Funds; $3,000 for most other Vanguard funds
  • $0
Tradable securities
  • Stocks
  • ETFs
  • Mutual funds
  • Bonds
  • Options
  • Forex
  • Crypto-currency
  • Stocks
  • ETFs
  • Mutual funds
  • Bonds
  • Options
  • Futures / commodities
  • Forex
  • Crypto-currency
Account fees (annual, transfer, inactivity)
  • $20 annual fee for account balances below $10,000; waived if you have at least $10,000 in Vanguard funds or ETFs or sign up for statement e-delivery
  • $0 full account transfer fee
  • $0 partial account transfer fee
  • $0 annual fee
  • $0 full account transfer fee
  • $0 partial account transfer fee
  • $0 inactivity fee
Commission-free ETFs offered
Mutual funds (no transaction fee) offered
Offers automated portfolio/robo-advisor
Account types
  • Individual taxable
  • Traditional IRA
  • Roth IRA
  • 529 Plan
  • Joint taxable
  • Rollover IRA
  • Rollover Roth IRA
  • Custodial Uniform Gifts to Minors Act (UGMA)/Uniform Transfers to Minors Act (UTMA)
  • SEP IRA
  • Solo 401(k) (for small businesses)
  • SIMPLE IRA (Savings Incentive Match Plan for Employees)
  • Trust
  • Individual taxable
  • Traditional IRA
  • Roth IRA
  • 529 Plan
  • Joint taxable
  • Rollover IRA
  • Rollover Roth IRA
  • Custodial Uniform Gifts to Minors Act (UGMA)/Uniform Transfers to Minors Act (UTMA)
  • Custodial IRA
  • SEP IRA
  • Solo 401(k) (for small businesses)
  • SIMPLE IRA (Savings Incentive Match Plan for Employees)
  • Trust
  • Guardianship or Conservatorship
Ease of use
 
 
Mobile appiOS, Android, Fire OSiOS, Android, Fire OS
Customer supportPhone, EmailPhone, 24/7 live support, Chat, Email, 190branch locations
Research resources
  • SEC filings
  • Mutual fund reports
  • SEC filings
  • Mutual fund reports
  • Earnings press releases
Fees
$0.00 per trade

Per Trade Stock Trading Fee

Account Minimum
$0
Promotion
N/A
Fees
$0.00 per trade

Per Trade Stock Trading Fee

Account Minimum
$0
Promotion

Get up to $600 when you open and fund an account within 60 calendar days of account opening, depending on deposited amount.

Fees
$0.00 per trade

Per Trade Stock Trading Fee

Account Minimum
$0
Promotion

Cash bonuses are available for new accounts. Bonuses start at $50 if you deposit or transfer $10,000+.

Vanguard vs. Fidelity: Fees & account minimums

When deciding between Vanguard and Fidelity, it’s important to understand the companies’ different brokerage account options, fees, and account minimums.

Fidelity offers three investment management services:

  1. Fidelity Go: Fidelity Go is a robo-advisor program featuring an annual management fee of 0.35% of your account balance and a $0 minimum to open an account.
  2. Fidelity Personalized Planning and Advice: Fidelity Personalized Planning and Advice is a hybrid robo-advisor that also gives you access to a team of advisors for coaching, for a 0.50% annual management fee. You need to have at least $25,000 in total minimum investments across all Fidelity accounts to be enrolled in this service.
  3. Portfolio Advisory Services: Portfolio Advisory Services gives you access to professionally managed investment accounts, with annual management fees ranging from 0.50% to 1.50%, depending on your investment balance. There is a $50,000 minimum investment.

Vanguard offers four options, including:

  1. Target Retirement Funds: For novice investors or those who prefer a hands-off approach, you can invest in a Vanguard Retirement Fund based on your targeted retirement date. The account is automatically rebalanced as you approach your retirement date, so you don’t have to worry about manually shifting your investments from stocks to bonds. You’ll need to have at least $1,000 to get started. The average expense ratio on Target Retirement Funds is 0.12%.
  2. Vanguard STAR Fund: The Vanguard STAR Fund is an option that invests 60% of your money in stocks, and 40% in bonds. It allows you to instantly diversify your portfolio across asset classes. To invest in a STAR Fund, you need a minimum of $1,000. STAR Funds have an expense ratio of 0.31%.
  3. Actively-managed funds: For more seasoned investors, you can opt for an actively-managed fund where a portfolio manager hand-picks the fund’s investments. You’ll need a minimum of $50,000 to invest in most actively-managed funds. The expense ratio is dependent on the fund; expense ratios average 0.12%.
  4. Personal Advisor Services: Vanguard Personal Advisor Services is a hybrid robo-advisor option with a 0.30% annual advisory fee for accounts with $5 million or less in assets. To get started, you need to have at least $50,000 in managed assets with Vanguard. Individual investment accounts, IRAs, trust accounts, and Vanguard Variable Annuity accounts all count toward the $50,000 minimum.

You may also be subject to an annual service fee with Vanguard. For example, brokerage and mutual fund-only accounts have a $20 annual fee.

When it comes to transaction fees, Fidelity is much simpler than Vanguard. Fidelity charges a flat transaction fee of $0.00 for any online trades that you make. With Vanguard, your fee is dependent on the kind of security you’re trading and whether you do it by phone or online. For example, you’ll pay $0 to trade ETFs online, but you’ll be subject to a $25 fee per trade if you complete the transaction over the phone.

In terms of expense ratios, Vanguard’s average expense ratio is 0.10% — that’s 83% less than the industry average. However, Fidelity reported that it offers lower expense ratios than other major companies, including Vanguard. Fidelity recently launched four new zero expense ratio index mutual funds that have no minimum deposit requirements.

Vanguard vs. Fidelity: Tradable securities

While both Vanguard and Fidelity allow you to invest in stocks, bonds and CDs, there are other security options to consider:

  • Mutual funds: Fidelity offers over 10,000 professionally managed mutual funds. By contrast, Vanguard allows you to invest in its own mutual funds, or thousands of outside mutual funds. As of August 2019, there are 129 Vanguard-exclusive mutual funds available.
  • Options trading: With options, you can sell securities at a preset price over a set period of time on the options market. Fidelity allows you to invest in the options market, and you can get up to 500 commission free trades over the course of two years. Like Fidelity, Vanguard also allows you to invest in the options market. However, the process to get started is more involved. You’ll have to submit an application and include information about your finances, investment experience and your objectives. Also, your application could be denied.
  • Exchange Traded Funds (ETFs): Fidelity has over 500 commision-free ETFs. Vanguard offers commission-free trading on 1,800 ETFs from the company, and about 100 from outside companies.
  • Foreign exchange trading: If you want to invest in the foreign exchange market, you can do so by signing up with Fidelity FOREX, LLC, a Fidelity subsidiary. You’ll get access to currencies from over 35 countries, and you can transfer money from your brokerage accounts. By contrast, Vanguard doesn’t offer a foreign exchange option.
  • Futures: As of August 2019, Fidelity doesn’t offer futures trading. Vanguard recently launched the Vanguard Commodity Strategy Fund, an actively-managed commodity futures fund.
  • Cryptocurrency: Neither Fidelity or Vanguard allow you to invest in cryptocurrency.

Vanguard vs. Fidelity: Special features

  • Trading platforms: With Fidelity, you can get access to Active Trader Pro if you make at least 36 trades within a 12-month period. This tool gives you real-time insights, actionable alerts, and detailed analytics so you can make informed investing decisions.
  • Investor centers: If you want in-person advice, Fidelity operates over 140 brick-and-mortar investor centers throughout the United States. You can meet with an advisor to get financial and investment guidance, including one-on-one retirement planning or college planning services.
  • Advisor access: With Vanguard Personal Advisor Services, you can schedule an appointment and talk with an advisor via phone, email or chat.
  • Comprehensive assistance: Vanguard Personal Advisor Services doesn’t just offer help with your investments. You can also contact an advisor for guidance on Social Security, health care funding or the right approach for withdrawing from your retirement savings.
  • Robo-advisors: Both Vanguard and Fidelity offer robo-advisor options. However, Fidelity’s program — Fidelity Go — has a $0 minimum to get started, whereas Vanguard Personal Advisor Services has a $50,000 minimum.

Vanguard advantages

  • Investment options: Vanguard’s funds have low expense ratios and excellent past performance records. You can choose index funds or actively managed funds so you can maximize your investment.
  • Complete financial planning: Vanguard’s programs will take into account your outside investments, such as a company-offered 401(k), when building your personalized financial plan. Taking those other accounts into consideration will ensure your investments are properly balanced for your goals.
  • Actively managed funds: For seasoned investors who have more assets, opting for a Vanguard actively-managed fund can be a smart move. The company offers more than 70 U.S. based actively-managed funds, including a range of stock, bond and balanced funds.
  • Past performance: Vanguard has an outstanding record. The company boasts that 88% of its funds have performed better than peer-group averages over the past decade.

Fidelity advantages

  • Low account minimums: Vanguard has account minimums ranging from $1,000 to $3,000, depending on the account, which makes it harder for new investors to get started. Fidelity allows you to get started with just $0, making it a great choice for beginners.
  • Technology: For those who prefer online trading or using an app, Fidelity is more technology-friendly. And, the firm’s Active Trader Pro platform is a powerful resource.
  • Flat transaction fees: Unlike Vanguard, which has different transaction fees depending on the type of security and how you complete trades, Fidelity has a flat $0.00 fee, so there are no surprises.
  • Investor education: Fidelity has a robust library of investor education resources, including articles and videos, so you can become better informed on investing topics.

Vanguard vs Fidelity: Which is best for you?

Vanguard and Fidelity offer excellent investment options for investors of every experience level, allowing you to grow your money with confidence. When looking at which company is best for you, it’s important to consider your starting point and the level of attention you think you’ll need.

With Fidelity, you can get started with $0 and can take advantage of flat transaction fees and its educational tools. And, if you do need to speak to someone in person, you can meet with an advisor at one of its investor centers.

If you’re a more established investor with a significant amount of assets, Vanguard may be a better choice for you. You can take advantage of Vanguard’s low cost funds and its low fees, and get access to comprehensive financial planning.

If you’re researching all of your investment options, make sure you check out the best online stock brokers of 2019.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Kat Tretina
Kat Tretina |

Kat Tretina is a writer at MagnifyMoney. You can email Kat here

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