Djelics | E+ | Getty Images Retirees can expect to see some big changes in 2025 when it comes to their Social Security and Medicare benefits. President Joe Biden is expected to sign a bill that will increase Social Security benefits for certain pensioners. Additionally, the annual Social Security cost-of-living adjustment goes into effect for
Personal finance
Lordhenrivoton | E+ | Getty Images If you’re eager to save more for retirement, you could be overlooking ways to maximize your 401(k) plan, including key changes for 2025. Some 40% of Americans are behind on retirement planning and savings, according to a CNBC poll conducted by SurveyMonkey, which polled 6,657 U.S. adults in August.
U.S. President Joe Biden speaks as he participates in a bill signing ceremony for the “Social Security Fairness Act” in the East Room of the White House, in Washington, U.S. on Jan. 5, 2025. Nathan Howard | Reuters President Joe Biden on Sunday signed the Social Security Fairness Act, bipartisan legislation that clears the way
Israel Sebastian | Moment | Getty Images Investors who hold exchange-traded funds can often escape a tax bill incurred by those with mutual funds, which are generally less tax efficient, according to investment experts. ETFs and mutual funds are baskets of stocks, bonds and other financial assets overseen by professional money managers. But they have
Pedestrians walk in front of the New York Stock Exchange, decorated with a giant U.S. flag, in New York City, Nov. 6, 2024. China News Service | China News Service | Getty Images Assets in U.S. exchange-traded funds in November topped $10 trillion for the first time, according to the latest data from Cerulli Associates.
Hobo_018 | E+ | Getty Images The U.S. Department of Education recently announced that it was reopening two student loan repayment plans, leaving borrowers with more choices to tackle their debt. Those options are: the Pay As You Earn Repayment Plan and the Income-Contingent Repayment Plan. They’re both income-driven repayment plans, which means they set
Getty Images Personal finances are top of mind for many households as they get set to ring in the new year. About 38% of Americans ranked financial stability as their No. 1 focus area for 2025, according to a recent Allianz Life survey. CNBC reached out to certified financial planners on its Financial Advisor Council
Ezra Bailey | Stone | Getty Images Opening presents during the holidays is of course a lot of fun. But for many, opening those credit card statements will be just the opposite. Months before the holidays hit, consumers were already bracing for the anticipated costs. More than half of 2024 holiday shoppers, or 55%, felt
From left, Elon Musk, House Speaker Mike Johnson and Vivek Ramaswamy arrive for a meeting on Capitol Hill on Dec. 5, 2024. Al Drago/Bloomberg via Getty Images When Elon Musk and Vivek Ramaswamy laid out their vision for slashing the size of the federal government, they touted plans to bring workers back to the office
U.S. President Joe Biden shakes hands with U.S. President-elect Donald Trump in the Oval Office of the White House on November 13, 2024 in Washington, DC. Alex Wong | Getty Images The country’s roughly 40 million federal student loan borrowers should brace for changes related to their debt when President Joe Biden exits office toward
D3sign | Moment | Getty Images Stocks soared in 2024. Congratulations! After taking a victory lap, it may be time to adjust your portfolio — because those heady returns likely threw your investment allocations out of whack. The S&P 500, a stock index of the largest public U.S. companies by market capitalization, gained 23% in
Getty Images While the Biden administration withdrew its plans to forgive student loan debt for millions of people, borrowers should look into the many other existing debt cancellation opportunities, experts say. The U.S. Department of Education posted notices in the Federal Register in December that it was pulling its wide-scale loan forgiveness plans. The Department cited “operational
Marco Vdm | E+ | Getty Images If you’re ready to focus on retirement in 2025, early January could be the perfect time to boost your 401(k) plan contributions, financial experts say. More than half of American workers feel they are behind on retirement savings, according to a Bankrate survey that polled 2,445 U.S. adults
JGI/Tom Grill | Tetra images | Getty Images At a recent campaign rally, President-elect Donald Trump promised new financial help for family caregivers. “I will support a tax credit for family caregivers who take care of a parent or a loved one,” Trump said during an October speech at New York’s Madison Square Garden. “It’s
The Free Application for Federal Student Aid for 2025-26 will be available for all students and contributors on or before Dec. 1, the Education Department says. Typically, students have access to the coming academic year’s form in October, but this year’s delayed release follows a “phased rollout” meant to address reported issues from the 2024-25
A customer walks by a display of fresh eggs at a grocery store on Sept. 25, 2024 in San Anselmo, California. Justin Sullivan | Getty Images Progress in the fight to tame pandemic-era inflation appears to have stalled out in October, despite lower prices at the gasoline pump and a moderation in other consumer staples
Chesnot | Getty Images Amid the latest bitcoin rally, crypto investors face a looming deadline that could impact future taxes — and they must take action before Jan. 1, 2025. The U.S. Department of the Treasury and IRS in July unveiled final tax reporting rules for digital asset brokers, with phased-in guidelines. Starting in 2026, brokers will
Collectively, Americans now owe a record $1.17 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances rose by $24 billion in the third quarter of 2024 and are 8.1% higher than a year ago. Despite that increase, credit card delinquency
A student student sits in a lecture hall while class is being dismissed at the University of Texas at Austin on February 22, 2024 in Austin, Texas. Brandon Bell | Getty Images Nearly a third, 30%, of federal student loan borrowers say they’ve gone without food or medicine because of their monthly bills. That grim
Maskot | Getty Images A bipartisan bill to change Social Security benefit rules for pensioners passed in the House of Representatives on Tuesday, with 327 lawmakers voting to support the measure. Now, the proposal heads to the Senate, where the chamber’s version of the bill has 62 co-sponsors, “surpassing the majority needed to pass the
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