Advisors

Laylabird | E+ | Getty Images Most Americans will have a lower tax burden in retirement than during their working years. However, that may not be the case for some retirees, especially for higher earners and big savers, which could have a significant impact on their financial plans, according to financial advisors. “Substantial evidence” suggests

Former U.S. President and Republican presidential candidate Donald Trump speaks during an election night event at the West Palm Beach Convention Center on Nov. 6, 2024. Jim Watson | Afp | Getty Images President-elect Donald Trump‘s victory means higher individual taxes, including levies on investments, are less likely for top earners, experts say. Vice President

Nopphon Pattanasri | Istock | Getty Images Investors have been able to get the best returns on cash, as the Federal Reserve raised interest rates to bring down the pace of inflation. Now that the central bank is lowering rates — with a new quarter point rate cut announced by the Fed on Thursday —

dowell | Moment | Getty Images Before the election, some advisors increased Roth individual retirement account conversions for clients amid the threat of higher taxes after 2025. Now, tax hikes are less likely under President-elect Donald Trump. However, demand for Roth conversions will continue as investors seek long-term tax planning strategies, experts said. “In general,

Bernd Vogel | Stone | Getty Images Brad Klontz was drawn to financial psychology after the tech bubble burst in the early 2000s. Klontz had tried his hand at stock trading after seeing a friend earn more than $100,000 in one year. But he felt immense shame after the market crashed and his investments evaporated.

Trump supporters take photographs near the U.S. Capitol building as the sun sets the day U.S. President Elect Donald Trump was declared the winner of the presidential election in Washington, U.S., November 6, 2024.  Leah Millis | Reuters Now that Donald Trump has been elected president, many individual investors are wondering what that means for

  A version of this article first appeared in CNBC’s Money 101 newsletter with Sharon Epperson, an eight-week series to improve your financial wellness with monthly updates. Sign up to receive these editions, straight to your inbox.  Stocks soared in the days after President-elect Donald Trump won the 2024 election, and the Federal Reserve announced

Baona | E+ | Getty Images Many Americans haven’t saved enough for retirement. However, a big change to 401(k) plans could provide a boost for older workers. The IRS in November unveiled higher 401(k) contribution limits for 2025, with employee deferrals jumping to $23,500, up from $23,000 in 2024. While the catch-up contribution remains unchanged

Mixetto | E+ | Getty Images The share of Americans with credit-card debt in retirement has jumped considerably — a worrisome financial trend, especially for those with little wiggle room in their budgets, experts said. About 68% of retirees had outstanding credit-card debt in 2024, up “substantially” from 40% in 2022 and 43% in 2020,

Author Stephanie Dhue’s difficult-to-repair microwave. Courtesy Stephanie Dhue I bought a General Electric microwave oven in 2020 for $355. Recently, I noticed the interior light was out. I told my husband, since he’s the one who takes care of repairs in our house. He took a look, only to learn that this wasn’t going to

Steve Smith | Tetra Images | Getty Images Handling the estate of a deceased parent can be an emotional process for children already dealing with grief.  Those emotions can become more complicated if the estate plan doesn’t unfold as expected — say, if there is an uneven split of assets among children or a previously

Mike Spiering holds Francesca Spiering as he stands in the flood water around his home after record rains fell in the area on April 13, 2023 in Hollywood, Florida. Joe Raedle | Getty Images The cost of insuring your most expensive assets has skyrocketed. While overall inflation has slowed, insurance costs are taking a bigger

Dowell | Moment | Getty Images Getting a credit card can be a smart financial move for college students, offering a range of benefits and opportunities to build a solid credit history early on. According to student loan provider Sallie Mae, about 57% of students have a credit card. Student credit cards facilitate financial approvals,

Voters wanting to cast an early vote line up outside the Elena Bozeman Government Center for a polling station to open in Arlington, Virginia, on September 20, 2024. – | Afp | Getty Images Decision-making around the November election isn’t limited to who voters plan to choose at the ballot box. Americans’ feelings about which

About 19 million U.S. taxpayers requested an extension to file back in April, according to the IRS, giving them an extra six months to submit their 2023 federal income tax returns. For many of those taxpayers, the October 15 final deadline is fast approaching. Taxpayers in federally-declared disaster areas, which currently cover all or parts

Brandon Copeland Copeland Media Brandon Copeland is a former NFL linebacker turned coach. But the type of coaching he gravitates to isn’t in the realm of sports — it’s in personal finance. The 33-year-old — who played for six teams across 10 seasons in the National Football League before retiring last year — started co-teaching

Andreswd | E+ | Getty Images Open enrollment season can be a whirlwind for anyone. Being in a relationship adds an extra layer of complexity, especially when your workplace enrollment windows don’t align. Conflicting deadlines, varying benefits options and differing risk appetites make it challenging for couples to coordinate their choices. However, you can make

Jj Gouin | Istock | Getty Images Most Americans rank Social Security as “one of the top” issues or a “very important” issue determining who they will vote for in the upcoming U.S. presidential election, according to a new CNBC poll. Social Security reform is also a top concern, according to a separate survey from

Sdi Productions | E+ | Getty Images Homeownership has long symbolized the American Dream, embodying stability, wealth creation, and community investment. Yet, for millions of Americans, especially younger generations and first-time homebuyers, that dream is slipping away. Rising home prices, stagnant wages, and restrictive mortgage terms have made it increasingly difficult to take that crucial

Stephen Swintek | DigitalVision | Getty Images As families try to offset the increasing cost of college education, many have turned to 529 college savings plans as a strategy.  These accounts let families set aside money toward college expenses while taking advantage of tax breaks and compound interest, according to certified financial planner Preston D.