5 banking predictions that missed the mark

A visitor from the 1940s would be very disappointed with today’s society. We don’t have pill-based, full-course meals. No one is living on the moon. And no matter how hard you look, you can’t find a flying car anywhere.

Predictions about the future have a way of being wrong, but sometimes they’re so far off the mark that they border on being comedic. When it comes to banking, you don’t always need to reach too far back to find prognostications that were a little too forward-thinking.

Read more at Bankrate.com

7 best ways to save money on car insurance

Because the initial steps in getting car insurance at a good price can be so frustrating, most people tend to ignore it once they have it. That could be costing them considerable sums of money each year.

While it’s easy to mistake auto insurance as something that’s a relatively fixed cost, it’s not. It can be lowered — often easily — to help you save money, the Insurance Information Institute says. Your savings will vary greatly depending on your driving record, vehicle and location, but it could add up to hundreds of dollars per year.

Read more at Bankrate.com

Your bank’s been acquired: Should you stay?

Consolidation is a common occurrence in the banking industry — regardless of what’s going on with the economy. If the bank or credit union you’ve been doing business with for years is acquired, it could result in some notable adjustments to what you are used to.

Normally, change to any aspect of people’s finances causes all sorts of stress, but people tend to shrug when it comes to a change in bank ownership.

Read more at Bankrate.com

Pros and cons of retirement income options

Despite near-constant reminders, Americans aren’t really good at saving for retirement. And they’re likely to be just as bad at stretching their savings to last the entirety of their golden years. It’s a problem that has the government weighing whether to require plans to offer an option that can generate retirement income for their workers.

The Government Accountability Office recently solicited opinions from the financial community — and the general public — about ways to enhance the retirement security of citizens. At issue: Should the government force financial companies to offer lifetime income options that give retirees a predictable stream of retirement income for the remainder of their lives?

Read more at Bankrate.com

Getting a mortgage when you’re self-employed

Ever since the 2008 financial meltdown and real estate crisis, banks have made some dramatic changes to their lending policies. That’s making it harder for the self-employed to secure a mortgage.

If you own a company and are in the market for a home, here are a few ways to ease the process and boost your chances of getting the loan.

Read more at Bankrate.com