Personal finance

Mixetto | E+ | Getty Images The U.S. retirement system doesn’t get high marks relative to other nations. In fact, the U.S. got a C+ grade and ranked No. 29 out of 48 global pension systems in 2024, according to the annual Mercer CFA Institute Global Pension Index, released Tuesday. It analyzed both public and

Americans often splurge on gifts during the holidays. This year, holiday spending from Nov. 1 through Dec. 31 is expected to increase to a record total of $979.5 billion to $989 billion, according to the National Retail Federation. Even as credit card debt tops $1.14 trillion, holiday shoppers expect to spend, on average, $1,778, up 8% compared to

Aire Images | Moment | Getty Images Many Americans face a retirement savings shortfall. However, setting aside more money could get easier for some older workers in 2025. Enacted by Congress in 2022, the Secure Act 2.0 ushered in several retirement system improvements, including updates to 401(k) plans, required withdrawals, 529 college savings plans and

Asiavision | E+ | Getty Images Between higher prices and high interest rates, some Americans have had a hard time keeping up. As a result, many are using more of their available credit and now, nearly 2 in 5 credit cardholders — 37% — have maxed out or come close to maxing out a credit

Momo Productions | Digitalvision | Getty Images While many investors have flocked to exchange-traded funds, they haven’t gained much ground with 401(k) plan participants. Exchange-traded funds, or ETFs, debuted in the early 1990s and have since captured about $10 trillion. Mutual funds hold about $20 trillion, but ETFs have chipped away at their dominance: ETFs

Jacob Wackerhausen | Istock | Getty Images Starting in 2025, certain heirs with inherited individual retirement accounts must take yearly required withdrawals or face a penalty. But some non-spousal beneficiaries should consider taking distributions sooner, depending on their situation, even if annual withdrawals aren’t required, financial experts explain.  “This is about multi-year tax planning” to

Twenty47studio | Moment | Getty Images Millions of Social Security beneficiaries will benefit from the 2.5% cost-of-living adjustment for 2025, set to take effect in January. With that increase, the maximum Social Security benefit for a worker retiring at full retirement age will jump to $4,018 per month, up from $3,822 per month this year,

Ivy League architecture at Princeton University. Loop Images | Getty Images At the nation’s top schools, including many in the Ivy League, acceptance rates hover near all-time lows. “College admissions only ever gets more competitive and there’s a lot of stress from families about the stakes and how to get in,” said Thomas Howell, the founder

Izusek | E+ | Getty Images Exchange-traded funds are generally known for passive strategies. But there has been a surge in actively managed ETFs as investors seek lower costs and more precision, experts say. Active ETFs represented just more than 2% of the U.S. ETF market at the beginning of 2019. But these funds have

Voters work on their ballot at a polling station at the Elena Bozeman Government Center in Arlington, Virginia, on September 20, 2024. – | Afp | Getty Images Many investors worry about how the outcome of the presidential election will impact their investments. But there’s another risk financial advisors are focused on — public debt,

d3sign | Moment | Getty Images If you want — or need — to travel this holiday season, start planning now because the ideal time to book Thanksgiving, Christmas and New Year’s travel is fast approaching.  “The most important thing is for travelers to continue to think about planning now and booking in October,” said

Luminola | E+ | Getty Images Four years after the Covid pandemic began, there are more than 900,000 fewer undergraduates enrolled in college. The overall rate of high school graduates choosing to enroll in college held steady in 2023, compared to a year earlier, according to a recent report from the National Student Clearinghouse Research Center — which Doug

In this article NAVI Follow your favorite stocksCREATE FREE ACCOUNT jetcityimage The Consumer Financial Protection Bureau last week said it had reached a $120 million settlement with student loan giant Navient that could lead to compensation for hundreds of thousands of borrowers. The CFPB accused Navient of steering student loan borrowers into expensive forbearances, miscalculating their

Sergio Mendoza Hochmann | Moment | Getty Images Many investors unknowingly make a costly mistake when rolling their money from a 401(k) plan to an individual retirement account: leaving their money in cash. Rollovers from a workplace retirement plan to an IRA are common after reaching certain milestones like changing jobs or retiring. About 5.7

Solstock | E+ | Getty Images Victoria Szafarski currently has $10,000 in credit card debt.  The New Yorker’s outstanding balance peaked at $25,000 last year, before she took on a second job as a waitress for a few months. The extra cash Szafarski brought in helped her make headway paying down the debt and increase

Yellow Dog Productions | The Image Bank | Getty Images No one likes a surprise tax bill, and there is still time to take action if you have not paid enough taxes for 2024, experts say.   Generally, employees pay taxes via withholdings from each paycheck. Other income requires quarterly estimated payments. Overpaying typically results in

Alistair Berg | Digitalvision | Getty Images Planning to work longer is a popular escape hatch for Americans who feel they’ve saved too little to support themselves in old age. About 27% of workers intend to work in retirement because they need to supplement their income, according to a new CNBC and SurveyMonkey survey. They

Greg Hinsdale | The Image Bank | Getty Images If you’ve inherited a pretax individual retirement account since 2020, you could face a sizable tax bill without proper planning, experts say.  Previously, heirs could take inherited IRA withdrawals over their lifetime, known as the “stretch IRA.” However, the Secure Act of 2019 enacted the “10-year

Ascentxmedia | E+ | Getty Images With the Federal Reserve poised to start cutting interest rates, experts are divided on what’s ahead for the U.S. economy. While some worry the economy could be in for a broad decline, or recession, others hope the central bank can effectively avoid a downturn and execute a “soft landing.”

Hinterhaus Productions | Digitalvision | Getty Images Travel spending among American households continues to outpace its pre-pandemic levels, a trend underpinned by a zeal for international trips, according to new Bank of America research. “A key part of travel momentum lies within vacationing abroad,” Taylor Bowley and Joe Wadford, economists at the Bank of America