If you’ve ever stared down IRS tax brackets trying to figure out where you fit, you’ll notice filing status has an outsized impact on your federal income tax. Your filing status determines not only which tax forms you fill out...
For many employees, what to do with a 401(k) plan at retirement has been a foregone conclusion: Roll it over. The opportunity to hang on to assets after employees retire — and in turn keep costs down for the whole...
One of the biggest questions among market participants is how many times the Federal Reserve will cut rates in 2025. Some have even floated the possibility of a rate hike during the year. The Fed and its decisions on monetary...
Diversification is the lifeblood of investing, but investors might not be as diversified as they think. That’s the warning from Apollo’s Torsten Sløk, who tells investors not to mistake owning the S&P 500 with having a diversified portfolio. The problem...
Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin. “We’re not allowed to own bitcoin,” Powell said at a press conference...
A tariff is a tax on imported goods usually aimed at protecting local jobs and industries from foreign competition. The idea is that if foreign materials and products are more expensive, you’ll buy more domestic goods. Suppose, for example, that...
If you’re in your 50s and hear that the “average” net worth for people in your age group is over $1 million, you might be tempted to pop a bottle of champagne or stress about why you’re not feeling like...
If you need help managing your money or you’re not sure whether you’re on track for a major life goal, a financial advisor can be an important ally. A financial advisor is a professional who helps you create and implement...
When it comes to deciding between using a bank or a credit union, there are several factors to consider — including safety. Credit unions have a reputation for being slightly safer than banks, but are they, really? Here’s what you...
Since late 2022, mortgage rates have jumped to between 6% and 7% — and in fall 2023, they nearly eclipsed 8%, marking the highest 30-year mortgage rate seen in over two decades. Rates started to drop this summer in anticipation...
Credit card debt is something many Americans know far too well. In fact, a recent Bankrate study found that 50 percent of people in the U.S. are carrying a credit card balance, and 58 percent of them don’t have a...
I recently came across this reflective Reddit post, where a 30-year-old shared his experiences following the inheritance of $2.5 million from his late father. I found this post interesting because it not only revealed the financial implications of his inheritance...
Investors are at a heightened risk of cryptocurrency scams tied to fake relationships established over social media, dating apps and networking sites, federal officials warn. Such frauds occur when scammers use dating apps, social media platforms, professional networking sites or...
It’s crucial to understand how to file a homeowners insurance claim after a natural disaster. Insured losses alone for Hurricane Helene are now estimated at more than $6 billion. Meanwhile, analysts anticipate that Hurricane Milton could be a “once-in-a-century” storm...
After two and a half years of slogging through higher interest rates in an effort to throttle back inflation, the cycle is reversing. The Federal Reserve lowered its key interest rate by 0.50% at its meeting on Sept. 18. However,...
