Personal Finance

In this aerial photo taken with a drone, flood waters surround storm damaged homes, Tuesday, Aug. 31, 2021, in Lafourche Parish, La., as residents try to recover from the effects of Hurricane Ida. Steve Helber | AP Climate change can have a direct impact on your wallet. Not only can it affect your bills, from

Treasury Secretary Janet Yellen testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, U.S., September 28, 2021. Matt McClain | Reuters Congress faces an Oct. 18 deadline for raising the U.S. debt ceiling. If it is not increased by that

Prostock-Studio | iStock | Getty Images As teenagers navigate matters of love and money, a troubling percentage of young relationships are showing signs of financial abuse. Some 31% of U.S. teens aged 13 to 18 have flagged the signals of financial abuse — which may be controlling a partner’s ability to receive, spend or save

A Social Security Administration office in San Francisco. Getty Images The debt ceiling debate has sparked conversation about whether Social Security payments will still go out on time. However, Congress also faces another deadline with regard to the nation’s largest social insurance program. In just 13 years the trust funds Social Security relies on to

Jodi Jacobson | E+ | Getty Images House Democrats proposed a change to the estate tax that would lead to more households having to pay up each year. But just how many people actually pay the tax, and how might the proposal change that share? The short answers: Few people pay it now, and the

In this article WRBY A customer tries on glasses at a Warby Parker store in Los Angeles. Michael Buckner | Getty Images Warby Parker’s stock debut may be a bit different from the norm, yet the expert advice still applies: Invest with caution. The popular eyewear maker began trading publicly on Wednesday through what’s called

Rep. Tom Suozzi, D-N.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Rep. Tom Suozzi, D-N.Y., is expecting an agreement this week for changes to the $10,000 limit on the federal deduction for state and

Stacey Vanek Smith Photo: Sylvie Rosokoff Why aren’t things getting better for women? Stacey Vanek Smith couldn’t stop asking that question as she looked over the grim statistics: Eighty percent of CEOs are still men, corporate boards are more than 80% male, two-thirds of federal judges are male and 98% of venture capital goes to

10’000 Hours | Getty Images If you’ve worked remotely at any point this year, you may want to evaluate what that could mean for your 2021 tax return. Although many states offered a pandemic-related reprieve that generally resulted in no tax-filing obligation for people who worked temporarily in their state, the leniency was for 2020

Getty Images |  filadendron Panic selling is common after stock market dips, and it’s more likely to happen with certain investors, according to research from the Massachusetts Institute of Technology. When the market drops, men over age 45 who are married with children and have self-described “excellent investment experience” are more prone to sell-offs, the

d3sign | Moment | Getty Images When it comes to reserving hotel stays, Aesop and his fabled ants might have gotten it backwards — it can actually pay to wait till the last minute to book. While conventional wisdom holds that travelers get better rates for accommodations, air and other vacation components by reserving early,

Sinenkiy | iStock | Getty Images Federal benefits for aged, blind and disabled Americans have not been updated in years. Now, some lawmakers and advocates are pushing for changes to the program — called Supplemental Security Income, or SSI — to be part of legislation being promoted in Congress. However, it is still unclear whether

In this article BKCC Ronnie Kaufman | DigitalVision | Getty Images Everyone wants to be happy in retirement. So what will it take to get there? It’s not just saving money, although that is key, according to certified financial planner Wes Moss, chief investment strategist at Atlanta-based Capital Investment Advisors and author of the upcoming

A detail of the statue of Satoshi Nakamoto, a presumed pseudonym used by the inventor of Bitcoin, in Budapest, Hungary. Janos Kummer | Getty Images News | Getty Images The price of popular cryptocurrencies like bitcoin and ethereum plunged Friday after Chinese officials intensified a crackdown, essentially declaring crypto to be illegal. The government intervention,

sorn340 | iStock | Getty Images It’s now been more than seven months since President Joe Biden asked the U.S. Department of Justice to review his legal authority to cancel student debt. The agency hasn’t released its findings yet. And although top Democrats argue that the president can cancel the debt through executive action, Biden

President Joe Biden speaks during a virtual Covid Summit of the United Nations General Assembly on Sept. 22, 2021 in Washington. Alex Wong | Getty Images News | Getty Images The wealthiest 400 American families paid an 8.2% average rate on their federal individual income taxes from 2010 to 2018, according to a White House

mediaphotos | E+ | Getty Images Many popular tax-planning strategies are on the chopping block as Democrats debate how to pay for their $3.5 trillion spending package. However, now is the time to consider year-end moves to lower next year’s tax bill, regardless of what happens in Congress. “Year-end tax planning should be done every

President Joe Biden addresses the 76th Session of the U.N. General Assembly on Sept. 21, 2021 in New York. Eduardo Munoz-Pool/Getty Images President Joe Biden and House Democrats have unveiled plans to raise taxes on households with more than $400,000 of annual income, and cut or maintain taxes for those below the line. But what’s

Even though the Federal Reserve didn’t raise its benchmark rate Wednesday, your borrowing costs may still start to head higher. Rising prices brought on by the economic recovery are paving the way for the central bank to unwind last year’s bond buying. While the central bank said that interest rates will stay near zero for now,

Halfpoint Images | Moment | Getty Images New data on the monthly child tax credit payments shows how parents earning up to $50,000 a year are using the extra money. They’re investing it. The monthly checks started in July, and include up to $300 per child under age 6 and $250 per month for children

skynesher New retirees — or anyone on the verge of retiring — may want to consider what an extended stock market dip would mean for their portfolio over the long-term. While the market has partially rebounded from Monday’s slide, it’s a good reminder that down markets can pose significant “sequence of returns” risk in the

Chip Somodevilla | Getty Images News | Getty Images A tax package unveiled by House Democrats would forbid individual retirement accounts from holding certain private investments typically reserved for the wealthy. While proponents think the proposal would raise investor protection and reduce an the use of an IRA as a tax shelter for the rich,

In this article TSLA Jeff Bezos, left, and Elon Musk Getty Images; Reuters The wealthiest Americans may be dodging as much as $163 billion in income taxes every year, according to the U.S. Department of the Treasury, and many leverage tax laws to do it legally, financial experts say. Although U.S. levies increase with income,

Sac C Wat’hn Buy Thna Thwi Phl / EyeEm | EyeEm | Getty Images One of the biggest unknowns for retirees may be whether they’ll eventually need long-term care — that is, help with daily living activities — and to what degree. Many people may end up requiring little care if they need any at

svetikd | E+ | Getty Images Millions of American families with kids have received three monthly payments since July totaling $45 billion through the new enhanced child tax credit. There’s a limited amount of time for families with eligible children to sign up if they didn’t get the checks automatically, likely because they don’t traditionally

You want your kids to have a healthy financial life, yet knowing how to help make that happen may leave you stumped. It may be especially hard if you have your own money struggles. Yet teaching them as early as possible can make a difference. “There’s a lot of misinformation out there that they will

Food is served at an outdoor restaurant in New York, August 3, 2021. Caitlin Ochs | Reuters As the Delta variant has wound its way through the U.S., signs show it is also hitting the wallets of some Americans. A new report from Morning Consult finds that the Delta variant is spurring pay or income

Billionaire Peter Thiel, PayPal co-founder and chairman of Palantir Technologies, during a news conference in Tokyo, Japan, on Nov. 18, 2019. Kiyoshi Ota/Bloomberg via Getty Images Billionaire Peter Thiel and others with huge retirement account balances are in lawmakers’ crosshairs. House Democrats unveiled a tax package on Monday that would force distributions from one’s nest

@canada_by_alexis | iStock | Getty Images Half of people who haven’t yet purchased a home point to their student debt as a reason for the delay. That’s the finding from a new report by the National Association of Realtors, which partnered with Morning Consult to conduct an online poll in June of 1,995 student loan

Mint Images – Tim Robbins As Democratic lawmakers on Capitol Hill work to bring their new reconciliation bill across the finish line, a proposal to keep the expanded child tax credit could be changed. A more generous child tax credit was authorized earlier this year by President Joe Biden and Congress to help give families