The U.S. government has sent 159 million stimulus checks to Americans. But there are still an estimated 30 million to 35 million payments yet to be issued, according to new data on the progress of the payments from the House Ways and Means Committee. The stimulus checks — up to $1,200 per individual or $2,400 […]
Social Security is an important source of retirement income for millions of American workers, so the good news is that benefits are not taxed by a majority of states, which allows retirees to keep a little more of their cash. However, there are about a dozen that tx the benefits, although their methods differ. It […]
If you’re eyeing your 401(k) account to help shore up your finances amid the coronavirus crisis, there are a couple of penalty-free ways you can do it if your employer allows it. Just be sure you’re aware of the long-term implications. Each of the options available — a loan or withdrawal — would impact your […]
Starting a budget is the first step to preparing for your financial future and getting out of debt. As important as it is, a Debt.com survey shows that 20% of American adults don’t set one. Developing a budget is hard work. Spending within your means — and resisting the allure of credit-card financing — requires discipline, sustained patience and constraint. […]
Your estate plan may be your last words to those you leave behind. If you’re a parent, you should think carefully about the message you’ll be sending. Parents who leave their children unequal inheritances risk fueling family feuds. But strictly equal bequests also can cause resentment if the heirs don’t see the distribution as fair. […]
Having an extra bedroom is a popular waste of space. It is often just a lightly used home office, or the guest bedroom that is occupied a grand total of maybe two weeks a year, or the bedroom for your kid who moved out eight years ago, but you don’t dare downsize because of the […]
A Tale Of Two Tax Bills Mike and Mark are identical twins. Both are 58 years old and have successful medical practices. Their practices are precisely the same size, with the same number of employees and the same revenues. They both earn business income of $350,000. The startling difference between them is that Mark’s income […]
Entrepreneurs Julien and Kiersten Saunders are well on their way to achieving financial independence by growing their digital business, creating multiple revenue streams and putting the majority of their disposable income into low-cost index funds, where it can grow over time. They’re part of the FIRE (financial independence, retire early) movement, which embraces the concept […]
Retiring wealthy is on everyone’s mind, yet there are very few people who actually manage to save and grow their money well enough to retire with an easy mind. As expats, this can be harder, especially if you’re supporting family back home. Expats in the UAE have a prime opportunity to earn and save tax-free […]
Have extra cash? Put it in an envelope. In fact, put it in several. That’s the “cash hack” that helped “Broke Millennial” author Erin Lowry save $500 in one year on a $25,000 salary. The theater major moved to New York City in her early 20s after landing a job as a page on The […]
The pandemic, which has changed the way millions of people work, is also starting to change the way they save — and not in a good way. Some 12% of employers have suspended matching contributions to their 401(k) plans, and an additional 23% were planning to cut their match or were considering it, according to […]
Deciding when to claim Social Security benefits is one of the most important choices you’ll make. If you’re considering starting your checks now because you’re ready to retire or because the coronavirus has interfered with your ability to keep working, you need to make sure you’re really ready. And to do that, you need to […]
