A credit crunch is a significant tightening of lending standards among banks. Loans are harder to get and become more costly. The banking crisis triggered by the failures of Silicon Valley Bank and Signature Bank will likely lead small and midsize institutions to prioritize having a healthy balance sheet. The prospect of recession led banks … Read more
I’ve inherited a house in San Francisco from my aunt. My aunt had rented her basement to an older couple (probably illegally) for a few years for below market rates. I don’t believe there was a lease, and it is probably against the building code to have tenants in the basement. The couple’s family is … Read more
The federal government helped Silicon Valley Bank and Signature Bank customers recover their funds this week, even if their deposits were uninsured. If other institutions fail in the future, customers may have to rely on FDIC insurance, Treasury Secretary Janet Yellen said this week. Importantly, FDIC insurance has limits. Here’s how to make sure your … Read more
Ronnie Kaufman | DigitalVision | Getty Images If you turned 72 in 2022, the last chance for your first mandatory retirement plan withdrawal is April 1 — or you may face a hefty tax penalty. Generally, you must begin these yearly withdrawals, known as required minimum distributions, or RMDs, by a specific age. Prior to … Read more