Ronnie Kaufman | DigitalVision | Getty Images If you turned 72 in 2022, the last chance for your first mandatory retirement plan withdrawal is April 1 — or you may face a hefty tax penalty. Generally, you must begin these yearly withdrawals, known as required minimum distributions, or RMDs, by a specific age. Prior to
Personal finance
In this article AVD Follow your favorite stocksCREATE FREE ACCOUNT Customer shaking hands with car salesman buying a car Fg Trade | E+ | Getty Images Several considerations go into selecting a financial advisory firm, especially if you are in your prime working years and have plenty of time left before you retire. For one,
Massachusetts Institute of Technology (MIT) campus in Cambridge, Massachusetts (Photo: Bloomberg / Getty Images) With an acceptance rate of just under 4%, Massachusetts Institute of Technology is considered the ultimate dream school, according to a new survey of college-bound students and their families. However, it’s not only one of the hardest schools to get into
It’s been a tough time for cryptocurrency but, despite volatility, you still need to know how the technology works, said Douglas Boneparth, a certified financial planner based in New York. The digital currency market dropped by nearly $1.4 trillion in 2022, following a cascade of bankruptcies and liquidity issues, including the high-profile collapse of crypto
Luis Alvarez | Digitalvision | Getty Images The pace of wage growth seems to be decelerating, according to the February jobs report issued Friday — but workers still have bargaining power in a cooling but strong job market, economists said. “Workers have a very strong negotiating position,” Mark Zandi, chief economist of Moody’s Analytics. “The
In this article WU Follow your favorite stocksCREATE FREE ACCOUNT The author in Argentinian Patagonia in February 2023. Here, the Spegazzini Glacier cascades into Lago Argentino, the third largest lake in South America. Waiting in an hourlong line at a Western Union wasn’t on my initial itinerary when planning a recent trip to Argentina. Yet
Parents and children participate in a demonstration organized by the ParentsTogether Foundation in support of the child tax credit portion of the Build Back Better bill outside of the U.S. Capitol on Dec. 13, 2021. Sarah Silbiger | Bloomberg | Getty Images President Joe Biden’s proposed budget for fiscal 2024 includes a host of proposals
U.S. President Joe Biden delivers remarks about his budget for fiscal year 2024 at the Finishing Trades Institute in Philadelphia, Pennsylvania, March 9, 2023. Evelyn Hockstein | Reuters Days after introducing a new plan to shore up Medicare, President Joe Biden called for “protecting and strengthening” Social Security with the introduction of his fiscal 2024
Willie B. Thomas/Hinterhouse Productions | Getty Images When it comes to retirement security for women, marriage may not give them the leg up it once did. Women who have spent the majority of their adult life single — whether due to divorce or never marrying — are now generally as well prepared for retirement as
Getty Images Moving in retirement can unlock a big pot of money to help fund those post-work years. In 2019, the typical homeowner age 60 or older who sold their home and relocated to a cheaper housing market accessed nearly $100,000 in home equity, according to new research published by Vanguard Group. The typical person
Drakula & Co. | Moment | Getty Images After a year of soaring prices, the IRS made annual inflation adjustments for dozens of tax provisions, including the federal income tax brackets for 2023, which may affect next year’s taxes, experts say. While the rates didn’t change, the brackets show the federal income taxes you’ll owe
Getty Images Roughly six weeks into the tax filing season, IRS improvements are underway with more staffing and technology upgrades as the agency begins deploying its nearly $80 billion in funding. While processing may be faster this year, experts say there are some key things to know before filing your return. “Every tax season has