Personal finance

Thomas Barwick When it comes to Social Security, many people have one question: “Will my benefits be there when I retire?” Fears that the program could run out of money tempt some people to claim benefits as early as possible to get back the funds they have paid into the program for their retirement. Meanwhile,

President Joe Biden delivers remarks on new efforts to cancel student loan debt at the White House on Oct. 4, 2023. Kevin Dietsch | Getty Images President Joe Biden’s plans to cancel up to $400 billion in student debt for tens of millions of Americans were foiled over the summer at the Supreme Court. Still,

If you’re making $120,000 per year, saving $1 million for retirement might seem out of reach. But with a little dedication and the right timing, it’s certainly possible — if you stick to a clear plan. As a rule of thumb, most financial advisors suggest that you save 10% to 15% of your salary for

In this article AAPL Follow your favorite stocksCREATE FREE ACCOUNT Igor Golovniov | SOPA Images | LightRocket via Getty Images For many purchases, once you swipe your debit or credit card or click “buy now,” that transaction swiftly shows up as pending on your account. But that’s not always the case if you’re shopping in

Troy Millings, left, and Rashad Bilal, co-creators of Earn Your Leisure. Source: Tyrell Davis Rashad Bilal and Troy Millings are among a growing class of financial influencers who want to help people be smarter about money. The duo — a former financial advisor and a teacher, respectively — launched the podcast “Earn Your Leisure” nearly

People wait in line for a meal served by Queens Together, local restaurants and The First Baptist Church with help of Northwell Health and Ponce Bank in New York on May 6, 2023. Selcuk Acar | Anadolu Agency | Getty Images The share of U.S. households facing hunger is rising at an alarming pace. Nearly 13%

No-mad | Istock | Getty Images The United Auto Workers union has brought new attention to the idea of a 32-hour workweek as part of its strike demands. Turns out, most workers would embrace a shorter workweek. A recent Bankrate survey found 81% of full-time workers want a four-day workweek. That goes particularly for younger

Elenaval | Room | Getty Images If you inherited an individual retirement account, the IRS waived penalties for some missed mandatory withdrawals this year. But there could be reasons to start taking them anyway, experts say. Prior to the Secure Act of 2019, heirs could “stretch” IRA withdrawals over their lifetime, which minimized year-to-year tax

In this article T-CA Follow your favorite stocksCREATE FREE ACCOUNT Nicoletaionescu | Istock | Getty Images Workers’ biggest financial concern is still keeping up with rising costs, more than one year after inflation peaked at a new 40-year high, according to a new report from Telus Health. Those money woes may have a connection to

In this article NRDS Follow your favorite stocksCREATE FREE ACCOUNT Getty Images Both retail credit cards and buy now, pay later programs can offer opportunities to spread out payments for high-priced purchases, especially during the year-end holiday shopping season. Buy now, pay later, or BNPL, is like a new form of old-school layaway plans, except

Hoozone | E+ | Getty Images Health savings accounts have powerful tax benefits that make them an efficient way to save for future medical costs. But to harness their full potential, HSA funds must be used for qualified medical expenses. There’s a long list of qualifying costs — from artificial limbs to birth control pills,

Thirty European nations have delayed implementing the ETIAS travel authorization scheme for U.S. and other foreign visitors until 2025. Pictured, Krakow, Poland. Martin-dm | E+ | Getty Images A new requirement for American travelers bound for Europe slated to take effect next year was delayed — again — to 2025. The requirement — an online

Twenty/20 American cardholders paid $130 billion in interest and fees in 2022, according to a new report from the Consumer Financial Protection Bureau. Cardholders were charged more than $105 billion in interest last year, and $25 billion in fees. The tally represents “the highest amount of interest and fees ever measured by the CFPB’s data,”

In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Thomas Barwick / Getty As home prices and interest rates rise, would-be home buyers need a salary of $114,627 to afford a median-priced house in the U.S., according to a recent report by real estate site Redfin. If you want to buy in one of the most

Daniel Grill | Getty Images These days, savers can get better returns on their cash than they have in nearly two decades. After a series of interest rate hikes from the Federal Reserve, top-yielding online savings account rates are now more than 5%, according to Bankrate.com. “Moving your money to a high-yield savings account is the easiest money you are

Douglas Sacha | Moment | Getty Images When Covid-19 stimulus checks were deployed to millions of Americans, the government reassured Social Security and Supplemental Security Income beneficiaries they were eligible for payments. But some beneficiaries, who include retired and disabled Americans, may have gotten more than they bargained for — lost benefits. Some SSI recipients

Secretary of Education Dr. Miguel Cardona speaks during the National Action Network National Convention in New York, April 12, 2023. Jeenah Moon | Reuters The Biden administration announced on Tuesday a finalized plan to improve its oversight of higher education institutions and to bolster consumer protections for student loan borrowers. “We are raising the bar

In this article NRDS Follow your favorite stocksCREATE FREE ACCOUNT Hispanolistic | E+ | Getty Images As the average interest rate on retail store credit cards near 30%, many holiday shoppers could be in for even more financial strain this year if they carry a balance. The average annual percentage rate for merchant cards reached

Shapecharge | E+ | Getty Images The federal estate-tax exemption helps wealthy families avoid or reduce inheritance tax, but the clock is ticking on the size of this advantage. In 26 months, some families that pay no inheritance tax today face the potential for sizeable federal taxes unless benefactors act. Though few families have enough

Education Secretary Miguel Cardona, at rear, listens as Vice President Kamala Harris speaks in Washington, D.C., June 2, 2022. Olivier Douliery | Afp | Getty Images Amberlee McGaughey, a librarian in Pennsylvania, was not worried about the restart of student loan payments. She was done with her debt, or so she thought. In August, she