Professionalstudioimages | Istock | Getty Images The clock is ticking for Congress when it comes to shoring up the Social Security trust funds, according to an annual report released on Thursday by the program’s trustees. Both Social Security and Medicare face long-term financing shortfalls, due to the fact that those programs will grow faster than
Personal finance
Jose Luis Pelaez Inc | DigitalVision | Getty Images There’s a decent chance you don’t have a good handle on how much your subscriptions are really costing you. Consumers’ offhand guess of how much they spend monthly on subscriptions averaged $86, according to a survey commissioned by market research firm C+R Research. Yet when asked
Teachers line up to enter Everest College, one of the Corinthian Colleges that closed, for a meeting and opportunity to collect their personal items, in City of Industry, Calif., April 27, 2015. Al Seib | Los Angeles Times | Getty Images The Biden administration plans to cancel all outstanding student loans for those who attended
David Jakle | Image Source | Getty Images It’s been a tough year for municipal bonds, with investors cashing out amid rising interest rates. However, higher yields and strong credit may be sparking a shift, experts say. While investors piled a record-breaking $96.8 billion of net money into U.S. muni mutual and exchange-traded funds in
xavierarnau Many investors are missing out on one of the most valuable parts of retirement planning: time. A Bankrate survey found that almost 36% of respondents have never had a retirement account. Not saving enough for retirement is a big financial regret for many people, the research found. There’s a key reason for that remorse. For
Morsa Images | Digitalvision | Getty Images Employees who work remotely don’t look favorably on the notion of returning to the office. To that point, 45% of people who work from home said they’d be at least somewhat likely to look for a new job if required to return to work in person, according to
A customer pumps gas into their car at a gas station on May 18, 2022 in Petaluma, California. Justin Sullivan | Getty Images Americans’ finances are being squeezed as inflation pushes up prices on things such as rent, groceries and gasoline. As a result, one-quarter of Americans will have to delay their retirement, according to
valentinrussanov | E+ | Getty Images The housing market is hot right now — if you’re a seller. Buyers, on the flip side, are having a harder time finding homes. Americans are aware of the struggles they face in buying a home. More than 70% of U.S. adults believe the housing market is currently in
Fertnig | E+ | Getty Images Death and taxes are two certainties in life, as the saying goes. But many people may not realize their Social Security benefits they receive from the government are also subject to taxes. The way in which those levies are applied is unique. A recent MassMutual quiz found just 42%
Even though college enrollment has slid since the start of the Covid pandemic, many students still want to get a degree, and for some, free tuition programs are the only way to make higher education a reality. In 2017, the state of New York’s Excelsior Scholarship made headlines when it became the first in the nation to
Student loan borrowers gather near The White House to tell President Biden to cancel student debt – all of it with no means-testing on May 12, 2020 in Washington, DC. Paul Morigi | Getty Images Advocates expressed anger and disappointment on Friday in response to news that the Biden administration is leaning toward forgiving $10,000
Prathanchorruangsak | Istock | Getty Images Whether you’re a current employee or changing jobs, you may need to choose between pre-tax and Roth 401(k) contributions, and it may be trickier than you expect. Here’s the difference: Pre-tax 401(k) deposits reduce your adjusted gross income, and the money grows tax-deferred, meaning you’ll pay levies on withdrawals.
Jake and Deborah Anderson-Bialis, pictured with their children, started fertility education site FertilityIQ after spending about $70,000 to have their children. Melissa Schmidt, FertilityIQ’ As employers try to entice new workers and keep the ones they have, more are turning to fertility benefits. In fact, the trend has been moving upward for the past couple
In this article BAC Ilkercelik | Istock | Getty Images The market volatility that’s gripped the markets for weeks has prompted some investors to ask, “Is this the bottom?” But waiting for the market low may prove elusive. “There’s no ‘the’ bottom,” said Chris Hyzy, chief investment officer at Merrill and Bank of America Private
Bloomberg | Bloomberg | Getty Images One of the best car-shopping weekends pre-pandemic is more of a dud these days. Amid the auto industry’s manufacturing challenges due to persisting supply-chain issues, Memorial Day sales are generally minimal to nonexistent this year. “It’s looking pretty bleak, to be straightforward about it,” said Ivan Drury, senior manager
Rohit Chopra leads the Consumer Financial Protection Bureau, the federal agency whose mission is to protect consumers from “abusive and deceptive financial practices.” As the director of the CFPB, he is keeping a close eye on trouble spots that could potentially cause another financial crisis. With inflation significantly impacting household budgets for millions of Americans,
Thomas Barwick | Digitalvision | Getty Images Retirees have rejoined the labor force at a steady clip in recent months, attracted by a hot job market and reduced Covid health risks. This “un-retirement” trend could help increase the available pool of workers and ease the hiring challenges businesses have reported. As of April, 3.3% of
President Joe Biden attends an Indo-Pacific Economic Framework for Prosperity launch event at Izumi Garden Gallery in Tokyo on May 23, 2022. Jonathan Ernst | Reuters President Joe Biden has said that he’ll soon be making an announcement about student loan forgiveness. In the meantime, the White House is trying to figure out what shape
Iryna Imago | Istock | Getty Images Many adult children are “boomeranging” and moving back in with their parents amid high rents and home prices, a new survey from financial services company Thrivent finds. About 40% of parents reported they currently have an adult child living with them. Meanwhile, 25% of parents said an adult
Fotostorm | E+ | Getty Images Rising inflation has exacerbated an existing problem for millions of older Americans: They don’t have enough to live comfortably in retirement. Without enough savings, and the average Social Security check coming in at just over $1,500 a month, many retirees struggle to make ends meet. The good news is