Personal finance

A general view of the atmosphere during The Art Institute of Atlanta commencement ceremony at Riverside EpiCenter on June 17, 2022 in Austell, Georgia.  Marcus Ingram | Getty Images The Biden administration on Wednesday announced that it would forgive more than $6.1 billion in student debt for 317,000 former students of The Art Institutes, the

Ascentxmedia | E+ | Getty Images Many people claim Social Security retirement benefits at the earliest possible claiming age of 62. But that decision prompts their monthly benefits to be reduced for the rest of their lives. Working with a financial advisor should help encourage prospective beneficiaries to understand the value of delaying their benefit

The US Department of Education sign hangs over the entrance to the federal building housing the agency’s headquarters on February 9, 2024, in Washington, DC.  J. David Ake | Getty Images If your current federal student loan servicer is Mohela, or the Missouri Higher Education Loan Authority, the U.S. Department of Education said it will

The Federal Reserve held rates steady Wednesday — again deciding not to cut — which means anyone who carries a balance on their credit card isn’t getting a break from sky-high interest charges. “It is becoming clearer and clearer that the Fed isn’t going to lower interest rates anytime soon,” said Matt Schulz, chief credit

Internal Revenue Commissioner Danny Werfel speaks during his swearing in ceremony at the IRS in Washington, D.C., on April 4, 2023. Bonnie Cash | Getty Images News | Getty Images The IRS has released an update on its strategic operating plan, which outlines “major accomplishments” in taxpayer service, technology and enforcement since its infusion of

JGI/Jamie Grill If you’ve opted into your employer’s matching 401(k) Roth contributions this year, it could trigger a tax surprise without proper planning, experts say.  Enacted in 2022, Secure 2.0 ushered in sweeping changes for retirement savers, including the option for employers to offer 401(k) matches in Roth accounts. These accounts are after-tax, meaning employees

In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Nebraska, on May 5, 2019. Nati Harnik | AP Warren Buffett is widely praised for his investment acumen. But one of the biggest

Teacher teaching her students in art class at school. Fg Trade | E+ | Getty Images The popular Public Service Loan Forgiveness program began a partial processing pause on May 1, which will likely run through July, the U.S. Department of Education recently said. The temporary suspension comes as the Biden administration overhauls the once-troubled

IRS Commissioner Danny Werfel testifies during the Senate Finance Committee hearing on the fiscal 2024 IRS budget and the IRS’ 2023 filing season, in the Dirksen Building in Washington, D.C., on April 19, 2023. Tom Williams | CQ-Roll Call, Inc. | Getty Images This season, more than 140,000 taxpayers successfully filed returns using IRS Direct

Demonstrators attend a rally asking Rep. Kean to “Stop MAGA Cuts! Protect Social Security!” on Feb. 24, 2023 in Bridgewater, New Jersey. Dave Kotinsky | Getty Images Entertainment | Getty Images Voters who show up at the polls this November may not just be choosing among Republicans, Democrats and third-party tickets — but also casting

Enes Evren When you receive equity compensation from an employer, it typically requires a comprehensive financial plan — and restricted stock units are no exception. In 2000, only 20% of public companies granted restricted stock or restricted stock units, primarily for senior executives or higher, according to the National Association of Stock Plan Professionals. That percentage, however, has

Viewstock | View Stock | Getty Images Last year, Americans’ confidence that they would have enough money to live comfortably in retirement fell the most since the global financial crisis. New research shows both workers’ and retirees’ confidence has not recovered. But some signs of optimism have emerged, particularly as wage growth now outpaces inflation

A man stands outside his flooded home after heavy rain in Fort Lauderdale, Florida, on April 13, 2023. Chandan Khanna | AFP | Getty Images The warming planet is already proving expensive. U.S. weather and climate disasters cost more than $617 billion between 2018 and 2022 — a record figure, according to the U.S. Department

South Pointe Beach in Miami Beach, Florida. Greg Iacurci MIAMI — Daniel Habibian worries about climate change.  His clothing boutique in Miami Beach’s iconic South Beach neighborhood sits just a few blocks inland from the Atlantic Ocean.  Rising seas threaten to swallow much of the Miami metro area in the coming decades as the world

Getty Images When it comes to teens and money, there is often a disconnect. Overall, teenagers are taking a greater interest in their long-term financial health — although far fewer understand basic retirement planning. A majority, or 83%, of 13- to 18-year-olds, said they had already thought about their retirement, according to the results of

Ryanjlane | E+ | Getty Images Rebates tied to home energy efficiency and created by the Inflation Reduction Act may start flowing to many consumers within months.   The federal government is issuing $8.8 billion for Home Energy Rebates programs through states, territories and tribes, which must apply for the funding. The U.S. Department of

Jacob Wackerhausen | iStock / 360 | Getty Images If you’ve inherited an individual retirement account since 2020, you could have a shorter timeline to withdraw the money, which can trigger tax consequences. But there are a few things to consider before emptying an inherited account, experts say.  Under the Secure Act of 2019, so-called

US President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024.  Andrew Caballero-Reynolds | AFP | Getty Images After the Supreme Court blocked President Joe Biden’s first plan to forgive student debt last summer, his administration set out to create a relief package that would

The U.S. Department of Labor headquarters in Washington. Al Drago/Bloomberg via Getty Images The Biden administration issued a final rule on Tuesday that cracks down on the investment advice that advisors, brokers, insurance agents and others give to retirement savers. The U.S. Department of Labor regulation — which follows a rule proposal in October —

Delmaine Donson | E+ | Getty Images The federal tax deadline was April 15 for most filers — and if you missed it, you should file your return and pay your balance as soon as possible, experts say. If you still owe taxes for 2023, you’ll continue racking up penalties and interest until you file