Personal finance

urbazon | E+ | Getty Images When the Covid-19 pandemic hit, many Americans felt the financial shock of a sudden drop in income. If the same kind of event were to happen today, many people would still struggle financially, according to a poll conducted by the Bipartisan Policy Center, Funding Our Future coalition and Morning

Eric Audras / Getty Images What type of insurance should you have at different stages of your life? When asked, financial advisors pointed to disability and life insurance as most important kind of coverage at any stage, as they apply throughout our lives. In addition, advisors discussed often overlooked considerations for different points in your

The Gray Bee Investors researching potential investments during a recent meeting. Mike Scanlan There’s real money on the line for the investing club at St. Benedict’s Preparatory School in Newark, New Jersey. This year, the Gray Bee Investors club — made up of about 15 high school students — is helping make investing decisions for

Woman working at home talks to virtual assistant Martin-dm | E+ | Getty Images Millions of Americans began working remotely or from home during the coronavirus pandemic. Others decided to take the leap amid the “Great Resignation,” start their own business and become their own boss in 2021. But who is able to claim the

William F. Galvin, Secretary of the Commonwealth of Massachusetts, at a press conference on Sep. 10, 2018. Galvin championed a state rule governing investment advice, which a judge invalidated in March 2022. Michael Swensen for The Boston Globe via Getty Images The fight to protect consumers from bad investment advice has been a multi-year saga.

Ronnie Kaufman | DigitalVision | Getty Images Some future retirees could end up getting more time to amass a heap of money that won’t be taxed when they or their heirs tap it. Under a provision in a federal retirement bill that cleared the House of Representatives last month, required minimum distributions, or RMDs, from

Student loans remain a substantial hurdle for nearly everyone with a college degree. For those currently struggling under the weight of education debt, President Joe Biden used his executive powers to extend the pause federal student loan payments until September. Nearly 43 million federal borrowers are hoping massive student loan forgiveness might be Biden’s next major move. “We have an opportunity

A person shops for groceries at Lincoln Market on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn borough in New York City. Michael M. Santiago | Getty Images New government inflation data shows prices are surging in one key area – food. Now some states are looking at helping to reduce that

courtneyk | E+ | Getty Images If you’re scrambling to finish your taxes, it’s easy to overlook the forms needed for a complete and accurate return. Such careless errors may delay your refund, according to the IRS. In most states, you’ll need to file your federal return and pay your bill by April 18 to

U.S. President Joe Biden. Drew Angerer | Getty Images The Biden administration is moving to make it easier for people who claim they’ve been defrauded by their colleges to get their federal student debt forgiven. Since President Joe Biden has been in office, the U.S. Department of Education has canceled around $2 billion in student

Eakgrunge | Istock | Getty Images Less risk often means lower returns. But that’s not the case with I bonds, an inflation-protected and government-backed asset, which may soon pay an estimated 9.62%. I bonds currently offer 7.12% annual returns through April, and the rate may reach 9.62% in May based on the latest consumer price index data. Annual

D3sign | Moment | Getty Images Inflation has hit levels not seen in 40 years and Americans’ wallets are feeling the strain. Prices are rising on everything from energy to food to shelter, costing the average American household an additional $327 per month, according to a Moody’s Analytics analysis. That’s higher than last month’s estimate

Small changes in the price of gasoline may not seem like much. However, every 10-cent increase at the pump costs consumers overall a combined $11 billion or more over the course of a year, according to Ryan Sweet, a senior director at Moody’s Analytics. Gas prices are up nearly 50% from a year ago and

Asiavision | E+ | Getty Images If you haven’t filed your taxes because you owe money, it may be a costly mistake, financial experts say. That’s because the late filing penalty for federal taxes is 5% of your unpaid balance per month capped at 25%, whereas the late payment fee is 0.5%, said certified financial planner Larry Harris, director

A driver uses the Uber app to drop off a passenger. Chris J. Ratcliffe | Bloomberg via Getty Images When Sergio Avedian, 55, started driving full time for Uber and Lyft in 2016, he used to make $3,000 a week. “Now, it’s impossible to make that kind of money,” he said. Coming out of the

Thomas Barwick | Digitalvision | Getty Images A shortened workweek may become the reality for many employees in California. Legislation is now working its way through the state legislature that would make the standard workweek 32 hours for companies with more than 500 workers. There would be no cut in pay, and those who work

The Biden administration has grappled with ending the pause on loan payments as the economy’s recovery from pandemic lows continues. Jose M. Osorio | Tribune News Service | Getty Images The U.S. Department of Education has extended the payment pause on federal student loans for the sixth time since the pandemic began more than two

Moyo Studio | E+ | Getty Images As the coronavirus pandemic wears on and government aid sent at the beginning of the crisis runs out, Americans are feeling the impact of tight budgets. One-quarter of Americans said that they felt financially stressed all the time last year, according to a CNBC + Acorns Invest in

Luminola | E+ | Getty Images When you find yourself about a decade away from retirement, it might be time to evaluate whether that target-date fund you’ve been investing in still makes sense for you. Although these “set it and forget it” funds offer a way to put your savings on autopilot by gradually shifting

Justin Paget | Digitalvision | Getty Images The Covid-19 pandemic has increased Americans’ awareness of the need to have a will, living trust or other similar end-of-life document prepared. Yet only about 33% of Americans have put these plans in place, according to a new survey from senior living referral service Caring.com. That means that