Elena Kurkutova | Istock | Getty Images Older Americans may have a number of different goals with their retirement savings. But usually their main goal is the same: to make it last. Unfortunately, many younger baby boomers and members of subsequent generations who don’t have access to a traditional pension could outlive the funds in
Personal finance
Ciydemimages | E+ | Getty Images For Denise Diaz, the benefits of pandemic-era stimulus checks went beyond everyday dollars and cents. They rewired how she thinks about money. Diaz, a mother of three who lives outside Orlando, Florida, received more than $10,000 from three rounds of “economic impact payments.” They were among the 472 million
Thomas Barwick Finding a broker or financial advisor you can trust may, at times, seem a daunting task. That’s especially true when investors see sensational stories of brokers fleeing the police in an underwater getaway or faking their death in an airplane crash. Then there are the high-profile fraudsters such as Bernie Madoff, who masterminded
Nosystem Images | E+ | Getty Images The latest stock market decline may be troublesome if you’re relying on a now-smaller 529 plan balance to cover college tuition this fall. But crafting a multi-year tax strategy may be one way to lighten the burden, experts say. The major stock market indexes have seen double-digit losses
The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. Sarah Silbiger | Reuters The Federal Reserve on Wednesday hiked its benchmark interest rate by 0.75 percentage points, the largest increase in nearly three decades. It’s the latest move from the U.S. central bank to combat the highest inflation in roughly 40 years, which
Rbkomar | Moment | Getty Images You may not want to check your 401(k) statement for a while. If you do, you may see a drop in your balance, as a recent market rout has sent the S&P 500 Index into bear market territory as of Monday. A “bear market” happens when equity markets are
Piksel | Istock | Getty Images Many people who have turned to Social Security for help in recent years have found long waits for service. The pandemic made those delays worse. But the issue actually dates back to before the onset of Covid-19. Congress has cut Social Security’s core operating budget by 17% since 2010,
Prasit photo | Moment | Getty Images If you are ready to jump into the market, there are a few things experts want you to know. Investing is a great way to grow wealth, but you have to be smart about it, said certified financial planner Cathy Curtis, founder and CEO of Curtis Financial Planning
People rally during a demonstration in support of Covid-19 relief, organized by Shutdown DC, on the National Mall in Washington, D.C., on Feb. 25, 2021. Al Drago | Getty Images When the U.S. began to shut down the wake of the onset of Covid-19, it meant millions of families were suddenly without the income they
Catherine Mcqueen | Moment | Getty Images Inflation is eroding the value of consumers’ savings at the fastest pace in four decades. The Consumer Price Index, which gauges how quickly costs are rising for a basket of goods and services, jumped 8.6% in May from a year earlier, the U.S. Department of Labor said Friday.
Damircudic | E+ | Getty Images Saving in a 401(k) plan may be tough for workers who switch jobs frequently — a dynamic that’s come into greater focus amid the Great Resignation. In 2021, 14% of people saving in a 401(k) plan left their employer, according to a new report from Vanguard Group, which is
Allison Shelley | Getty Images News | Getty Images The clock is ticking when it comes to how long Congress has to act to repair Social Security’s trust funds. New projections from the program’s trustees show the combined trust funds will be depleted in 2035, at which point 80% of benefits will be payable. That’s