“The American dream of owning a house may be vanishing,” the U.S. Government Accountability Office said in a research report, “because of higher housing prices and a decline in housing affordability.” “Many young, middle-income, and first-time home buyers can no...
If you need more time to do your taxes, you’re not alone. Millions of taxpayers are granted extensions every year for all kinds of reasons, including that they just couldn’t get their paperwork together in time. The good news is...
Should you itemize your taxes? Most taxpayers take the standard each year. The Tax Policy Center estimates that only about 10% of households itemize their taxes. This is in large part because the standard deduction is $15,000 per person for...
If you have access to a 401(k) plan, you should take advantage of it, as it is one of the best ways to save for retirement. To maximize your 401(k), it is important to make consistent and sufficient contributions —...
Investors took comfort in U.S. President Donald Trump’s commitment to cutting taxes in a major address to Congress but voiced concerns about his continued focus on tariffs and a proposal to ditch a semiconductor chip manufacturing subsidy. The president’s remarks...
The Social Security Administration has released a new expedited timeline for when more than 3.2 million individuals will see one-time payments and higher benefit checks following the enactment of a new law. The Social Security Fairness Act was signed into...
Social Security is the backbone of many seniors’ retirement budgets. More than two-thirds of senior citizens rely on the government program for at least half of their income, according to a survey from The Senior Citizen’s League. With inflation impacting...
The Trump administration’s idling of the Consumer Financial Protection Bureau (CFPB) left in limbo significant cases the agency brought against companies and large financial firms in the waning days of President Joe Biden’s time in office. The CFPB in January...
A rising number of Americans are anxious about the state of the US economy — and it’s all about inflation. The latest University of Michigan consumer sentiment survey released Friday showed headline sentiment declined to its lowest level in seven...
The Trump administration’s plans for trade tariffs come with inflation risks, three Federal Reserve officials warned on Monday, with one arguing that uncertainty over the outlook for prices calls for slower interest-rate cuts than otherwise. Trump on Saturday slapped across-the-board...
Investors aren’t expecting many surprises at the end of the Federal Reserve’s Wednesday FOMC policy meeting, where central bank officials are widely expected to hold interest rates steady following three consecutive cuts at the end of 2024. There is considerably...
Americans believe a net worth of $2.5 million makes you rich, according to one survey. When you think about what it means to be rich, specific images may come to mind. Perhaps you imagine someone on a yacht wearing a...
Market Recap The year wrapped up nicely for US stocks with the S&P 500 rallying 25.02%. It was another year of high double-digit gains. International markets, however, lagged tremendously relative to the US, up only 3.82%. Bonds, as measured by...
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...
