Advisors

Peter Cade | Getty Images Higher earners maximizing savings ahead of retirement may soon lose a tax break, thanks to 401(k) changes enacted last year. If you’re 50 or older, you can funnel extra money into your 401(k), known as “catch-up contributions.” For 2023, eligible workers can save another $7,500 after maxing out employee deferrals

Summer can be an ideal time to slow down, reflect and reset your money mindset. You also may find more time to review your financial goals — and decide whether you need a reboot. “When it comes to those who want to ‘clean’ their financial house, my advice is that you must sweep the dust

Damircudic | E+ | Getty Images The looming end of a pandemic-era pause to student loan payments and interest puts a spotlight on a big difference between two types of debt: subsidized and unsubsidized loans. Interest accrual is among the primary differences between the federal loans — also known as Stafford Loans — which are

The Powerball jackpot has reached $900 million by July 17, 2023. Justin Sullivan | Getty Images The Powerball jackpot has soared to an estimated $900 million after Saturday’s drawing went by without a winner. It’s still the third-largest prize in the game’s history ahead of Monday night’s drawing, according to Powerball. But the windfall will

Social Security has likely touched your life or the life of someone you know. This safety net provides income for beneficiaries including retired and disabled workers, and their dependents. While you’re working, a chunk of your paycheck goes toward Social Security. When you’re retired, it’s often a key income stream. “It’s the biggest single source of

The Powerball jackpot has reached $875 million by July 14, 2023. Scott Olson | Getty The Powerball jackpot rose to an estimated $875 million ahead of Saturday’s drawing, growing to the third-largest prize in the game’s history, the lottery announced. Of course, the estimated windfall is a pre-tax number based on 30 years of annual

mapodile | E+ | Getty Images After a more than three-year payment pause, federal student loan bills will once again be part of Americans’ lives this fall. But borrowers should try not to fall into the “student loan identity” trap. More than a decade ago, online advice columnist and best-selling author Cheryl Strayed addressed the

Aretha Franklin performs onstage in New York City, Nov. 7, 2017. Dimitrios Kambouris | Getty Images Entertainment | Getty Images History is filled with examples of celebrities who died without a will: Bob Marley, Prince, Howard Hughes, Pablo Picasso, Jimi Hendrix and even Abraham Lincoln. But an ongoing legal dispute involving music icon Aretha Franklin’s

Prostock-Studio | Istock | Getty Images If you have a 401(k), one of the big questions is whether to make pretax or Roth contributions — and the answer may be complicated, experts say. While pretax 401(k) contributions reduce your adjusted gross income, you’ll owe levies on growth upon withdrawal. By comparison, Roth 401(k) deposits won’t

The Carnival Radiance cruise ship at the Avalon, California, harbor on May 19, 2023. Aaronp/bauer-griffin | Gc Images | Getty Images The NASDAQ may have hit a bit of a blip in late June when it absorbed losses over six consecutive trading sessions at one point. But it rallied during the final days of the

Inflation may have started to ease, but it remains well above most consumers’ comfort level, and spending has slowed considerably, recent reports show. The core consumer price index for May was at 5.3%, while the personal consumption expenditures price index increased just 0.3% for the month when excluding food and energy. “The bottom line is everybody is

vgajic | E+ | Getty Images Recent events have prompted investors and businesses to begin redeploying their savings in order to generate greater yield while protecting their principal. Their options include traditional means such as money market funds or short-duration Treasury bills and more volatile stores of value, such as gold. Some investors have even