There’s a lot of mystery surrounding Social Security. How are benefits calculated? (There’s a specific formula, but it’s complicated.) Will benefits be cut in the future? (It’s possible, though some lawmakers will work tirelessly to avoid having that happen.) But one thing that should be pretty clear with regard to Social Security is when you’re […]
Oprah Winfrey has her hands in so many aspects of media it’s hard to keep track. But she didn’t build her empire overnight. It took years of hard work and effort to get to where she is today, and to accumulate an astounding $2.6 billion net worth. Of course, most of us won’t come close […]
The Federal Reserve has kept interest rates low for more than a year, and new policy may keep it that way for the foreseeable future too, it said in a policy statement on Thursday. The central bank said it would tolerate inflation “moderately above 2%,” though it did not specify what exactly that meant. Dallas […]
Making the most of Social Security is essential, especially if you’re in or approaching retirement. The monthly payments will provide you with financial support for the rest of your life. However, many people find that it’s useful to have a larger chunk of cash available right when they retire. Monthly checks are useful, but it’s […]
Saving for retirement is easier if you take advantage of tax breaks the government provides for doing it. But the retirement investment account that provides the most valuable tax savings has historically been available only to a limited number of people. The good news is, that could change for 2020 — and potentially beyond — […]
Amid historic levels of unemployment, as many as 12 million Americans may have lost their health insurance since February, according to a study by the Economic Policy Institute. “Because most U.S. workers rely on their employer or a family member’s employer for health insurance, the shock of the coronavirus has cost millions of Americans their […]
The IRS issued long-awaited guidance on President Donald Trump’s payroll tax deferral Friday night. And it appears to put the onus on employers to collect any taxes due after the holiday ends. The president signed an executive order on Aug. 8 calling for a deferral of the employees’ portion of the payroll tax from Sept. […]
The Federal Reserve has kept interest rates low for more than a year, and new policy may keep it that way for the foreseeable future too, it said in a policy statement on Thursday. The central bank said it would tolerate inflation “moderately above 2%,” though it did not specify what exactly that meant. Dallas […]
A 25-minute phone call between House Speaker Nancy Pelosi and White House chief of staff Mark Meadows, the first time in weeks that the pair has spoken, has unfortunately produced more of the same when it comes to the status of coronavirus stimulus talks in Washington DC: Stalemate and recriminations, as both major parties remain […]
SO YOU WANT TO be a millionaire? Saving $1 million is a lofty goal, but it can be attainable for folks who start early, reduce expenses and choose appropriate investments and savings accounts. If you’re looking to steadily climb your way toward millionaire status, here are steps to increase your savings, reduce spending and reach your […]
What if you can’t pay the rent, there’s nothing in the fridge—and the only money you have is what’s in your 401(k) or IRA? It’s not a rhetorical question. Millions of Americans have been hammered by the pandemic-induced economic crash. GDP collapsed at a still-hard-to-believe 33% rate in the second quarter. Tens of millions of […]
If you’re contemplating moving to a different state, taxes may be a deciding factor. This column explains how to evaluate the tax picture in states you may be considering. Investigate all state and local taxes If your intent is to relocate to a lower-tax state, it may seem like a no-brainer to move to one […]
