Personal finance

Andrew Bret Wallis | The Image Bank | Getty Images After a spouse dies, some retirees face a costly surprise — higher taxes. Couples, however, can reduce the burden with early planning, financial experts say. The shift from married filing jointly to single on future tax returns can trigger a “survivor’s penalty,” depending on whether

Karrastock | Moment | Getty Images People are using artificial intelligence for tasks like writing and editing resumes and cover letters — and even to get personal finance advice. While some of those insights can be valuable, financial advisors caution that AI shouldn’t be your only resource. A new report by Experian found that 67%

Bloomberg | Bloomberg | Getty Images Regardless of the outcome of the U.S. presidential election, there could be some clear winners for exchange-traded funds, or ETFs, experts say.  Whoever becomes president next — former President Donald Trump or Democratic nominee Kamala Harris — will leave their mark on U.S. policy, and that poses challenges to the status quo going

This year is a “super election year,” with more than 60 countries — encompassing around half of the world’s population — hosting national elections, according to Statista. Promoting a healthy economy is high on the list of expectations of voters globally, according to a recent report by Principal Financial Group. But even when the economy

A voter works on his ballot at a polling station at theElena Bozeman Government Center in Arlington, Virginia, on September 20, 2024. Early in-person voting for the 2024 US presidential election began in Virginia, South Dakota and Minnesota.  – | Afp | Getty Images Many investors worry their investments may be affected by the outcome

The vast majority of parents agree it’s critical that their children learn about investing, but few feel completely confident in their ability to teach their kids how to do it, according to a new survey conducted for the SIFMA Foundation, a non-profit focused on financial education. Only 22% of parents are “completely confident” in their

This combination of pictures created on October 25, 2024 shows US Vice-President and Democratic Presidential candidate Kamala Harris in Houston, Texas on October 25, 2024 and former US President Republican presidential candidate Donald Trump in East Del Valle, Austin, Texas on October 25, 2024.  Getty Images As millions of Americans cast ballots on election day,

A person arrives to vote at a polling station on Election Day, in The Villages, Florida.  Miguel J. Rodriguez Carrillo | Afp | Getty Images In a heated presidential race, there’s one age cohort — voters ages 50 and up — who may help decide the ultimate winner. “We expect the 50-plus electorate to be

Mario Tama | Getty Images News | Getty Images Retail therapy is thinly coating voters’ anxieties from the presidential election — and their wallets know it. About 27% of polled shoppers say they are “doom spending” — that is, spending cash despite concerns about the economy and foreign affairs — according to a new report

When I was a teenager, I bought my first car. It was a Toyota Tercel with a few hundred miles on it and cost less than $10,000. Granted, this was 30 years ago. Now that I have a daughter turning 17, I envisioned a similar scenario. She has worked — and saved — since the

This year, a big change happened to 529 college savings plans.  As of 2024, families can roll over unused 529 funds to the account beneficiary’s Roth individual retirement account, without triggering income taxes or penalties, as long as the 529 plan has been open for at least 15 years. Some families have already taken advantage of the new

dowell | Moment | Getty Images The earnings limit for the 0% capital gains bracket will rise in 2025, which could offer tax planning opportunities, financial experts say. At sale, profitable assets owned for more than one year qualify for lower taxes — known as long-term capital gains. Those rates are 0%, 15% or 20%,

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 24, 2024.  Brendan McDermid | Reuters With the U.S. presidential election less than two weeks away, and voters decidedly split, some investors are understandably spooked. “This is likely to cause a little bit of choppiness in the

Panama is one of the most affordable places to retire abroad. Helovi | E+ | Getty Images Today’s investors face one looming question: Will I have enough money when I retire? Surveys show prospective retirees may have big lump sums in mind. To get a more accurate, personal gauge, it helps to start with your

Christopher Grigat | Moment | Getty Images Investors can generally reduce their tax losses in a portfolio by using exchange-traded funds over mutual funds, experts said. “ETFs come with tax magic that’s unrivaled by mutual funds,” Bryan Armour, Morningstar’s director of passive strategies research for North America and editor of its ETFInvestor newsletter, wrote earlier

Erik Von Weber The U.S. Federal Reserve cut interest rates in September, the first in a string of cuts expected at least into 2025. Earnings on cash are expected to decline as a result — likely leading investors to ask what they should do in response. From a financial planning perspective, cash generally refers to

Phynart Studio | E+ | Getty Images If you’re ready to rebalance investments or harvest profits, you could shield more earnings from capital gains taxes in 2025. The IRS on Tuesday announced dozens of inflation adjustments for 2025, including long-term capital gains brackets, which apply to assets owned for more than one year. Starting in

Al Seib | Los Angeles Times | Getty Images Although more students are eligible for federal financial aid, fewer high schoolers are pursuing a four-year degree. Increasingly, college is becoming a path for only those with the means to pay for it, many studies show.  Although undergraduate enrollment is up overall, the number of new first-year

Momo Productions | Digitalvision | Getty Images New changes from the Internal Revenue Service may affect federal tax liabilities for families in 2025. For example, in its announcement Tuesday, the agency said it raised the maximum amount of the earned income tax credit, or EITC, and increased the income thresholds to qualify. It left the

Customers visit the Macy’s Herald Square store in New York City on Dec. 17, 2023. Kena Betancur | Corbis News | Getty Images For some shoppers, the upcoming holiday season may lead to significant credit card debt. Meanwhile, some people are still paying off debt from last year’s gift buying. In fact, 28% of shoppers who