Personal finance

After more than a year of steady rate hikes, the Federal Reserve held its target federal funds rate steady Wednesday. For households, however, that offers little relief from record-high borrowing costs. “It’s not like rates will go down,” said Tomas Philipson, University of Chicago economist and a former chair of the White House Council of Economic

People shop at Lincoln Market on June 12, 2023 in the Prospect Lefferts Gardens neighborhood in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images News | Getty Images Inflation slowed in May to the lowest rate in two years, largely on the back of declining prices for energy like gasoline

Lucigerma | Istock | Getty Images Retirement confidence may be dropping due to the economy. But for retirement savers and retirees alike, there’s one worry that stands out above the rest — the possibility they may outlive their assets, according to new research from research and consulting firm Cerulli Associates. That worry looms large for

Djordje Krstic | Istock | Getty Images New government data shows the annual rate of inflation dipped to the lowest level in about two years as of May. But that may be bittersweet news for Social Security beneficiaries, as they may receive a much lower cost-of-living adjustment in 2024 than they did this year. The

Margaret Roesch, 67, and her wife Pat McAulay, 68, wanted to have a supportive community around them as they grew older. So they helped to create a cohousing development for LGBTQ+ seniors and allies, making it easier to offer support to one another.  “We said we don’t want to have to go back in the

Berk Ucak | Istock | Getty Images When federal student loan bills restart in September, millions of borrowers could be making their payments to a company they’ve never heard of. During the pause of more than three years on payments, several of the lenders that managed the debt for the government stopped doing so. Those

Actress Gwyneth Paltrow enters the courtroom for her trial in Park City, Utah, March 24, 2023. Rick Bowmer | Getty Images “I wish you well.” Gwyneth Paltrow may have had the last word at the conclusion of her ski accident trial in March, but it was her head-to-toe “old money” look that is still echoing

In this article LEVI BLK Follow your favorite stocksCREATE FREE ACCOUNT Levi’s has run a worker savings program since 2015 but in recent years has participated in BlackRock’s initiative. Pictured, a Levi’s display at a Kohl’s in San Rafael, California. Justin Sullivan | Getty Images When new employees get hired at the Levi’s store in

Yuliya Taba | E+ | Getty Images The Consumer Financial Protection Bureau is warning that roughly 1 in 5 student loan borrowers have financial risk factors that could cause them to struggle when their payments resume in the fall. The bipartisan agreement to raise the federal debt ceiling signed into law earlier this month by

From self-service fast-food restaurant kiosks to smartphone delivery apps, there are more opportunities to tip for a wider range of services than ever before. But between the high cost of living and uncertain economy, cash-strapped consumers are starting to tip less — and resent tipping prompts even more. related investing news Markets are making a bet that inflation

Simpleimages | Moment | Getty Images Millionaires moved money out of stocks into cash and cash-like investments in the past year and may add to those allocations over the next 12 months, according to a new CNBC Millionaire Survey. But the average investor may not be wise to mirror the millionaires. Much would depend on

The U.S. Supreme Court. Douglas Rissing | Istock | Getty Images Student loan borrowers anxious to know whether or not they’ll get their debt forgiven will likely get their answer within weeks. The Supreme Court heard oral arguments at the end of February for two of the legal challenges brought against President Joe Biden’s plan

zimmytws | iStock | Getty Images Last November’s midterm elections were expected to bring a so-called “red wave” of wins for Republican candidates. But ultimately, voters gave Democrats an edge in some of the most competitive congressional districts. One deciding factor was candidates’ messages around Social Security and Medicare, which helped sway voters, particularly those

Investing in the market is what allows many people to achieve their biggest goals, like purchasing a house, sending their child to college and being able to retire. Yet some people put their money into stocks before they’re ready, warns certified financial planner Douglas Boneparth. To achieve the benefits of long-term investing, Boneparth said, you

Fatcamera | E+ | Getty Images Cryptocurrency is the most prevalent investment held by Gen Z investors, a trend likely fueled by the cohort growing up during an age marked by technological change, social media and easier access to investing, according to a new joint report from the CFA Institute and Financial Industry Regulatory Authority’s

In this article SNAP Follow your favorite stocksCREATE FREE ACCOUNT Tomml | E+ | Getty Images A new deal to lift the nation’s debt ceiling includes fresh work reporting requirements for 50-something adults who receive Supplemental Nutrition Assistance Program, or SNAP, benefits. The change could result in almost 750,000 adults ages 50 to 54 losing

Douglas Rissing | Istock | Getty Images After a more than three-year reprieve, federal student loan bills will restart within months. In the agreement to raise the debt ceiling, which President Joe Biden signed into law last week, there is a provision that officially terminates the pause on federal student loan payments and potentially makes

fstop123 | E+ | Getty Images LAS VEGAS — College is a major expense for many families, but a payment strategy can provide significant tax savings, according to a college funding expert. “Distribution planning is not just for retirement,” said certified financial planner Ross Riskin, chief learning officer for the Investments & Wealth Institute. Families

Harvard Yard, on the campus of Harvard University in Cambridge, Massachusetts. Maddie Meyer | Getty Images This year’s high school graduating class faced one of the toughest college-application seasons on record. At the nation’s top schools, including many in the Ivy League, “it’s never going to be harder to get in,” said Hafeez Lakhani, founder

Jackyenjoyphotography | Moment | Getty Images Investors who are skittish about the ups and downs of the stock market can borrow an easy 401(k) investment strategy to calm their nerves and be more disciplined with their money — and reap the potential financial benefits. The strategy is called “dollar-cost averaging.” It entails investing money in