The earlier you start saving for retirement, the better. Many people put off saving for retirement early in their careers because of how distant in the future retirement seems, but experts say that starting to save early can make a huge difference in how much you end up with. To help you know if you’re […]
The IRS will start issuing tax refunds in May to Americans who filed their returns without claiming a new break on unemployment benefits, the federal agency said Wednesday. The American Rescue Plan waived federal tax on up to $10,200 of unemployment benefits, per person, received in 2020. Households with $150,000 or more in income are […]
Americans are under-saving for their retirement, according to PwC’s Retirement in America report. One in 4 Americans have no retirement savings and those who are saving aren’t saving enough, PwC U.S. asset manager and wealth management leader Bernadette Geis told Yahoo Money. “Those that are [saving], on average, what they have saved will afford them […]
Side hustles are for everybody these days. From the single dad driving Uber for extra income to the single mom writing romance novels while the kids are at school, the opportunities to make extra money have never been broader. A 2019 study by Northwest Mutual discovered that nearly half of working adults expect to work […]
Are you socking away enough money in your 401(k) every year? If you don’t think you’re doing enough, you’re not alone. In January, TD Ameritrade published the results of a survey of 2,000 Americans that showed that 58% of people between the ages of 40 and 79 would give themselves a grade of C or […]
Do you have enough for retirement? The amount of money that you save is important, but not the only thing that matters. Studies have shown that factors like how you’re invested and how much money you take out each year also affect how long your savings will last. Here’s by how much. The Trinity Study […]
Due to stimulus packages and higher-than-average savings rates, the pandemic recovery could be one of the fastest comebacks in U.S. history, says Bank of America’s Ethan Harris. Although nearly not as high as in the distant past, Annual Percentage Rates (APRs) are holding steady at 0.52% to 0.60% on average. High-yield savings accounts (HYSA) earn […]
You can spend a lot of time struggling to turn a pile of capital into monthly income. Or you can spend a lot of money. What if you don’t want to spend either of those things? Then you may find this guide very helpful. The model income plan here assumes that you have $1 million […]
The Biden administration is expanding an existing pause on student loan interest and collections to include more than 1.1 million borrowers who are in default, the U.S. Department of Education announced Tuesday. The borrowers, whose defaulted loans are part of the Federal Family Education Loan program, were ineligible for the current payment pause and interest […]
The deadline to contribute to individual retirement accounts and health savings accounts is May 17, the same day that individual federal income tax returns are due, the IRS said Monday. The announcement comes after the agency postponed the filing deadline to May 17 from April 15 following increased calls for more time following passage of […]
A personal loan is a type of loan that funds quickly and has monthly repayment installments. You can use a personal loan for high-interest debt consolidation, pay for a major purchase or address a financial emergency, among other top reasons. Typically, a personal loan repayment term can be between two and five years, with loan […]
The tax season might be a little more complicated for filers in certain states. The recent move by the IRS to extend the filing season to May 17 from April 15 only applies to federal income tax returns. That deadline doesn’t always align with due dates for state income taxes. Most states have followed the […]
