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Your 50s are a great time to get serious about building wealth. Your career has likely taken off, and you're probably earning more money than you ever have. But with upcoming expenses like college for your kids and retirement for yourself, investing and saving are more important than ever before.
Now is the time to put your money to work for you — here are some of our favorite ways to do it:
Pay no interest on balance transfers until 2028
Imagine getting 18 months with an intro 0% APR on balance transfers (APR then 17.74% - 26.74% (Variable); Balance transfer fee applies). Sounds great — right? You could dramatically change your financial picture with one of the industry-leading low-interest cards - the Discover it® Chrome (Rates and fees).
If you want to kick high-interest credit card debt to the curb, this is one of the leading cards available. Transfer your high interest debt to this card with a 0% intro APR on balance transfers for 18 months (APR then 17.74% - 26.74% (Variable)). Your payments can go directly to paying down your balance without incurring a pile of additional charges. That could save you hundreds of dollars in interest!
It doesn't just stop with balance transfers, though. Cardholders also get an intro APR of 0% for 6 months on purchases (APR then 17.74% - 26.74% (Variable)).
The best part? The annual fee is $0 for the Discover it® Chrome.
Turn your home’s value into funds
If you want to pay a large expense now, like a home improvement project or credit card debt, you may have considered using your home equity as leverage to borrow a large sum of money.
A home equity line of credit (HELOC) is another option some homeowners compare alongside cash-out refinances and home equity loans.
Using LendingTree’s simple HELOC matching tool1 <p>Terms and conditions apply. Rates subject to change. LendingTree, LLC. NMLS# 1136.</p> (yes, the company from the commercials), you can compare rates and see what works for you.
How a home equity line of credit is different: Your line of credit acts similar to a credit card, where you can withdraw funds when you need them, and you’re only responsible for minimum monthly payments for what’s called the “draw period,” which is usually 10 years. After this borrowing period ends, you pay off the rest of your balance during an extended repayment period, which is usually 20 years.
Plus, as a revolving line of credit, rates are usually variable, so you won’t be locked into a fixed rate if they ever go lower.
To get started:
- Check out LendingTree’s HELOC matching tool.
- Answer a few questions.
- Be matched with personalized offers for you.
Home repair bill? Let someone else take care of it
Your furnace breaks in the winter. Your fridge shuts off out of nowhere. Appliances break down and the repair bill rarely cares about your budget.
That's where a home warranty comes in. It's like backup insurance for appliances, plumbing, electrical, and more - covering some of what your homeowners insurance won't.
American Home Shield is one of the largest and most trusted names in the space, with thousands of service techs ready to handle the job quickly.
Live in Ohio and want to see what your coverage looks like?
- Enter your zip code
- Compare plans near you
- Get a free quote in less than 2 minutes
This plan could save you $100s when appliances break down. Get your free quote.
P.S. Use the link above, and you'll get 50% off your first year on select plans!2 <p>Discounts for individual consumers may vary between 30-50%. Pricing available to new members for first-year ShieldGold™ and ShieldSilver™️base plans only.</p>
Set up direct deposit - pocket up to $500
If you aren't banking with Bank of America, you could be missing out on a huge boost of extra cash just by following a few simple steps.
New checking customers only: Get a cash offer up to $500 when you open a new eligible Bank of America Advantage Banking account through this page and set up and receive Qualifying Direct Deposits into your new account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your qualifying direct deposits received in the first 90 days. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer. Bank of America, N.A. Member FDIC.
This is practically passive income and a great way to supercharge your earnings. It basically takes no extra work at all other than following the steps above.
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- You could save up to $600 with some companies
- Compare dozens of providers in under 5 minutes
- Fast, free and easy way to shop for insurance
- Quickly find the best option for you