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Cavan Images | Cavan | Getty Images Inflation is causing American households to spend $445 more per month buying the same items they did a year ago, according to an estimate from Moody’s Analytics. Consumer prices jumped by 8.2% in September versus the same month in 2021, the U.S. Bureau of Labor Statistics said Thursday.

Andersen Ross | Blend Images | Getty Images Amid soaring inflation, the IRS this week announced higher federal income tax brackets and standard deductions for 2023. The agency has boosted the income thresholds for each bracket, applying to tax year 2023 for returns filed in 2024. These brackets show how much you’ll owe for federal

RyanJLane | E+ | Getty Images After a difficult year for the stock market, investors have poured money into Series I bonds, a nearly risk-free and inflation-protected asset that’s paying a record 9.62% annual interest rate through October. With the rate expected to drop to roughly 6.48% in November, there’s a brief window to secure

Anita_bonita | Istock | Getty Images More than 9 million individuals and families could be leaving money on the table by not filing a 2021 federal tax return, according to the IRS. Last week, the federal tax agency began sending letters to those people it had identified who could be missing out on payments through

Between Bill Gates’ pledge to give “virtually all” of his wealth away and Patagonia founder Yvon Chouinard’s recent decision to donate his entire company to fight climate change, it’s clear views of inherited wealth have changed. Those high-profile pledges are happening as part of the greatest generational wealth transfer in history, with baby boomers set to pass to

Morsa Images | E+ | Getty Images Despite a hotter-than-expected inflation report on Thursday, the annual interest rate for Series I bonds is expected to fall to roughly 6.48% in November, financial experts say.  While that’s down from the current 9.62% interest through Oct. 31 and lower than the 7.12% rate offered from November 2021

Getty Images Workers may want to keep an eye on the balance in their health-care flexible spending account. Temporary rules under the 2020 Cares Act that allowed you to roll over unspent FSA funds from one year to the next or gave you longer to spend the money — if your company adopted the provisions

Tetra Images | Tetra images | Getty Images A majority of U.S. households are taking the possibility of an economic recession seriously, new research suggests. Eighty-four percent of respondents in a recent survey said they are concerned about a recession happening before the end of the year, and 76% said they are making changes to

Insta_photos | Istock | Getty Images It’s been a tough year for bonds, including Treasury inflation-protected securities, or TIPS, an inflation-linked asset. Despite recent losses, TIPS offer portfolio diversification amid market uncertainty, experts say. Backed and issued by the U.S. government, investors can buy TIPS in five-, 10- or 30-year terms, with twice-annual payments based

mphillips007 | iStock Unreleased | Getty Images There’s a whole lot of money up for grabs this week in two national lotteries. Powerball’s jackpot is an advertised $420 million for Wednesday night’s drawing. Mega Millions’ top prize is even more: $494 million for the next pull, set for Friday night. Of course, the chance of

Ridofranz | Istock | Getty Images Roth individual retirement account conversions may be alluring when the stock market dips. But it’s easy to make mistakes, financial experts say. The strategy, which transfers pre-tax IRA funds to a Roth IRA for future tax-free growth, may pay off when the market drops because you can buy more

Tetra Images | Tetra images | Getty Images After several months of soaring inflation, stock market volatility and interest rate hikes, many investors are feeling weary about their finances.  But the prolonged stock market downturn offers a silver lining for some investors: opportunities to reduce their tax bill. Here are some of the most popular

momcilog | E+ | Getty Images It’s almost the time of year for Medicare beneficiaries to give thought to their 2023 Medicare plan. The program’s fall open enrollment period, when you can make changes that take effect Jan. 1, starts Oct. 15 and runs through Dec. 7. This window is for coverage related to prescription

Freshsplash | E+ | Getty Images The White House has repeatedly said that its application for student loan forgiveness, which is expected to go live within days, will be simple. Still, consumer advocates say that any red tape around the relief is likely to cause millions of borrowers to miss out on it. “Those who

At an individual level, sometimes a trade school makes the most sense for your or your children’s financial future. Tom Werner | Digitalvision | Getty Images While my parents never had the opportunity to attend college, they were indeed very successful. Their success afforded me the opportunity to pursue higher education, but ironically, I doubt

Investors have recently witnessed some of the worst trading days since 2020. Stocks took a dive in September over fears the Federal Reserve’s aggressive rate hike cycle will cause the economy to stall, but with more hikes to come, along with slowing growth, geopolitical unrest and persistent inflationary pressure, this could be a prolonged period

Ariel Skelley | Digitalvision | Getty Images Applications for financial aid are now available for the upcoming academic year. Although the Free Application for Federal Student Aid for 2023-24 isn’t due until June 30, 2024, it’s wise to apply as soon as you can. For a growing number of families, financial aid is key when

fitzkes / Getty If you’re looking to meet the Oct. 17 tax extension deadline, make sure you don’t skip key forms as you’re rushing to the finish line, experts say. It’s critical to file a complete and accurate return to avoid processing delays, according to the IRS, including details from all the necessary forms. Furthermore,

Investors are rightfully worried about volatility. After stocks slumped in September, markets have had a strong start to the month and are now on track to notch the biggest two-day rally since March 2020. The key to navigating the recent ups and downs is “buying high quality stocks that pay dividends that tend to be a

George S. Farra (far left), co-founder and principal of Woodley Farra, and the team at Indianapolis-based financial advisory firm, which comes in at No. 1 on the CNBC FA 100 list for 2022. Portfolio manager George S. Farra is good at remembering his mistakes. More than a decade ago, he invested his clients in Hewlett-Packard,