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 […]
For many people, retirement is a lifelong goal, and you’ll need to save consistently for decades to achieve it. But for more and more workers, retirement is becoming unreachable, no matter how hard they work for it. Roughly 40% of people believe they’ll never be able to retire at all, according to a recent survey […]
A major reason banks were rolling in so much dough last quarter is the explosive growth of the U.S. personal savings rate, which hit the highest mark since the 1980s in March and a historic 33% rate in April. By the numbers: The rate of savings as a percentage of disposable income was by far the […]
Many parents dream about giving their children an Ivy League education but not everyone does the math to see how much the degree will cost them. CNBC ran the numbers, and we can tell you how much money you would need to save to send your child to Harvard. First, some assumptions. For saving, we […]
President Trump has proposed creating universal savings accounts for Americans to help households save, a policy that is already available to residents in some other countries. Universal savings accounts, or USAs, are tax-free investment vehicles that have fewer limits and restrictions than other traditional savings methods. For example, people could withdraw funds whenever they pleased, […]
If you own your home, how much do you pay for property taxes? Does it seem like too much? If you disagree with how much you’re paying in property taxes, you can appeal the assessment. Most people don’t, though — perhaps because they are unaware they can, or because they just don’t have the time […]
Business owners who received a forgivable loan through the Paycheck Protection Program are likely getting more leeway on how to spend those funds. The Senate passed legislation Wednesday night that restructures how entrepreneurs can use loans issued through a new federal relief program for small businesses ailing from the economic contagion unleashed by the coronavirus […]
