Personal finance

JGI/Tom Grill | Tetra images | Getty Images As retirees live longer, many worry about outliving their savings. However, many older Americans haven’t planned for a looming expense: the cost of long-term care. The median cost of a private room in a nursing home was $105,850, and in-home care costs were $53,768 to $54,912 annually,

PeopleImages | E+ | Getty Images In his poem “If,” British author Rudyard Kipling famously wrote that learning to “keep your head when all about you are losing theirs” is part of growing up. That very statement is also part of growing wealth. I wish I could go back to March 2020, when some investors

Job seekers speak with hiring representatives during a job fair at a community center in Beattyville, Kentucky, U.S., on Wednesday, July 28, 2021. Jon Cherry | Bloomberg | Getty Images Most Americans expect to look for a new job as the pandemic continues. Some 55% of people in the workforce, meaning that they’re currently working

kate_sept2004 As the Covid-19 pandemic set in, the federal government stepped up to provide Americans with unprecedented financial relief. In order to access those funds, from stimulus checks to monthly child tax credit payments, most Americans had to file tax returns. But submitting that paperwork could have put some individuals and families in a vulnerable

Peter Cade | Getty Images Most retirees — including those with less wealth — aren’t tapping their nest eggs before their required withdrawals, according to research from J.P. Morgan Asset Management and the Employee Benefit Research Institute. Some 80% of the retirees studied didn’t withdraw money from accounts before their required minimum distributions, known as

Getty Images Divorcing parents often have plenty to navigate. And the latest stimulus package has dumped even more onto the negotiating table in the form of enhanced tax credits. The $1.9 trillion American Rescue Plan provided Covid-19 relief for millions of Americans, including increases to three write-offs in 2021: the child tax credit, the earned

Douglas Rissing | iStock | Getty Images Those who’ve been stuck with a credit card balance may wonder if they should use the savings in their 401(k) plan to clear their debt up. Credit cards, after all, come with high interest rates — the average charge is over 16% a year. Being dinged at that

Klaus Vedfelt | Getty Images The Social Security cost-of-living adjustment for 2022 potentially will be the biggest in 40 years. Estimates indicate the annual boost could be 6.2%, prompted by rising inflation. But rising prices on grocery store shelves and at gasoline pumps aren’t the only reasons why those bigger monthly benefit checks will likely

Brocreative | Getty Images Since July, millions of American families with children have received monthly checks through the new enhanced child tax credit. Even more will see a larger than usual credit — and potential refund, depending on other aspects of their situation — come tax time next year. So far, the credit has slashed

Hero Images | Getty Images At some point, individuals who are charitably inclined might determine that writing checks here and there to various nonprofits is no longer cutting it. For those who want a more permanent way to help the greater good during their lifetime, and perhaps beyond, options include either a private foundation or

In this article MNTV svetikd | E+ | Getty Images People of color are still lagging behind when it comes to investing, a new CNBC/Momentive Invest in You survey found. Half of Black U.S. adults and 49% of Hispanics don’t currently own individual stocks, mutual funds, bonds, exchange-traded funds, cryptocurrency or real estate. Meanwhile, 32%

There are fun expenses that come with any vacation you’re flying off to — that souvenir t-shirt, a fancy dinner or even a poolside cabana rental — but forking over a fortune to park your car at your home airport while you’re away isn’t one of them. Travelers departing major U.S. airports can often expect

Treasury Secretary Janet Yellen answers questions during a Senate Appropriations Subcommittee hearing on June 23, 2021. Greg Nash-Pool/Getty Images) States can pay benefits to the unemployed past a looming Sept. 6 expiration date using pandemic funds that Congress previously allocated to state and local governments, Labor and Treasury Department officials said Thursday. The American Rescue

lisegagne | E+ | Getty Images So far, two monthly payments totaling $30 billion have gone out to American families with kids through the new enhanced child tax credit benefit. For families that have eligible children but haven’t signed up — likely those that don’t traditionally file a tax return — there is still time

kate_sept2004 | E+ | Getty Images In August, millions of American families received the second of six advance child tax credit payments — hundreds of dollars per month for those with eligible kids. Just one payment has already helped, data shows. For 56% of families, receiving just the first monthly child tax credit payment in

One year ago, rising cases of coronavirus put an abrupt halt to the fall semester on many college campuses, just as classes got underway. This year, the delta variant is threatening to shut down schools once again. And the possibility of more campus closures has sparked renewed interest in college refund policies and tuition insurance.

Getty Images The enhanced child tax credit captured America’s attention this summer as millions of families began receiving payments. But Congress also boosted a lesser-known write-off this year for working families: the child and dependent care tax credit. Often conflated with the child tax credit, the child and dependent care tax credit offers working parents

John Lund | Photodisc | Getty Images Alyssa, a marketing and communications assistant in New York, loves working from home. “You can wear what you want, run a quick errand,” said Alyssa, 22, who asked to use her first name only because she was discussing her job. “It’s just more comfortable.” She was hired remotely

Education Secretary nominee Miguel Cardona testifies before the Senate Health, Education, Labor and Pensions committee during his confirmation hearing on Capitol Hill Washington, DC., February 3, 2021. Susan Walsh | Pool | Reuters The U.S. Department of Education announced on Thursday it will cancel $5.8 billion in student debt for more than 320,000 borrowers. The

Image Source | Getty Images Many Americans have trouble covering their costs of living with income solely from Social Security. Now, a bill has been reintroduced in Congress aimed at reducing the risk that older Americans, women and people of color will live in poverty despite receiving their monthly checks. The proposal, called the Social