Advisors

Westend61 | Westend61 | Getty Images After spending decades as your parents’ child, becoming the caregiver for Mom or Dad can be a jarring role reversal. Yet for an estimated 42 million Americans, providing care for a parent or other adult relative age 50 or older is a daily reality, according to a recent study

andresr | E+ | Getty Images It’s not uncommon to discover that retirement isn’t the ideal existence you thought it would be. If you are a retiree on Medicare who’s rejoining the workforce, be aware that you might have choices when it comes to your health-care coverage. Depending on where you work, you may be

Making more money is great, but it doesn’t mean as much if you are having a harder time making ends meet. Although wages are rising, the prices consumers must pay for goods and services are rising faster — notching a new 40-year high in February. As a result, real inflation-adjusted average hourly earnings for the

Westend61 | Getty Images The now-volatile stock market may not be the ideal starting point for new investors, but it’s always a good time to begin investing. Millennial Americans — ranging in age from 22 to 40 — are famously wary of the financial markets. Market collapses like the dotcom bust of 2002 to 2004

High gas prices at stations in Garden Grove, California, on Monday, March 7, 2022. Jeff Gritchen | Medianews Group | Getty Images Inflation has continued to increase amid the Russia-Ukraine conflict and ongoing supply chain issues. But certain retirees may not feel the brunt of rising costs, financial experts say. Annual inflation rose by 7.9%

A “now hiring” sign is posted in the window of a restaurant in Los Angeles on Jan. 28, 2022. Frederic J. Brown | AFP | Getty Images The pandemic-era phenomenon known as the Great Resignation remained a hallmark of the labor market in early 2022, according to federal data issued Wednesday. Nearly 4.3 million people

In this article LC As daily life gets more expensive, workers are having a harder time making ends meet. While wage growth is high by historical standards, it isn’t keeping up with the increased cost of living, which is growing at the fastest annual pace in about four decades. “Wages are up 5.1% over the past year,

Getty Images If you’re considering a Roth conversion, your timing and yearly planning can significantly reduce the tax bite, financial experts say.  The popular retirement savings strategy allows higher earners to skirt the income limits for Roth individual retirement account contributions. While the maneuver may kickstart tax-free growth, you’ll owe levies on pretax deposits. And

Kevin Winter | Getty Images If you’re eager to jumpstart an education fund, you may consider a larger, upfront contribution to a 529 college savings plan. While the average account balance was $30,287 in 2021, according to the College Savings Plans Network, depositing and investing sooner may pay off, experts say. “The earlier you get

Pascal Broze | Getty Images One of the pain points of early retirement is limited access to your nest egg before age 59½ without incurring a 10% penalty. While a new IRS rule makes it easier to tap more penalty-free money, you still need to weigh your options, financial experts say. Generally, early pre-tax 401(k)

andresr | E+ | Getty Images A recently introduced bill in Congress has its sights set on preventing a cost that some new Medicare beneficiaries face: late-enrollment penalties. The bipartisan measure, introduced in the Senate, would require the federal government to provide individuals with information about Medicare enrollment rules before they reach the Medicare-eligible age

Nosystem Images | E+ | Getty Images If the stock market’s volatility is worrying you because you’re edging closer to retirement, it may be time to re-evaluate your portfolio. One of the big risks you can face as a new retiree is a persisting market downturn just as you need to start tapping your savings.

Spanic | E+ | Getty Images There are some obvious triggers that might prompt you to update your will, such as changes in health or marital status. There are, however, also some not-so-obvious ones to be aware of, according to financial planners and attorneys. “Your will should be updated when your personal circumstances change, which

Tetra Images | Getty Images The IRS has already issued 22 million refunds, at an average $3,536 each.  That’s $700 more than last year, when the average refund was just over $2,800. For most people, a lump-sum payment of this size is rare. “The tax refund is often the biggest windfall households receive all year,” said

MoMo Productions Today’s workers are often tasked with juggling multiple financial goals. Between saving for retirement, paying off student debt and planning for your own children’s education, it can be difficult to know whether you are on track. Betterment is taking steps to try to make it easier for employers to help workers manage those

Sean Gladwell | Moment | Getty Images Escalating tensions between Russia and Ukraine sent stock markets lower once again on Wednesday. Many individual investors are feeling the recent market declines triggered by geopolitical risks personally, particularly when it comes to their retirement account balances. Financial advisors say this could actually be an opportunity to put

fizkes | iStock | Getty Images If you’re fretting about your 2021 tax bill, financial experts say there may be a chance to slash your balance before April 18, the deadline for most filers. With limited options after year-end, taxpayers may still have a few possibilities, said certified financial planner David Haas, president of Cereus

Getty Images If your teen or adult child in college has been dabbling in stocks or cryptocurrency, their gains may trigger a surprise bill at tax time. That’s because of the so-called “kiddie tax,” an extra levy for parents once their child’s investment income — capital gains, dividends and interest — exceeds a certain threshold.

Getty Images If you recently made a profit selling your home, it may come with a costly surprise this filing season: capital gains taxes on your windfall. In 2021, the average U.S. home seller scored a profit of $94,092, up 71% from $55,000 two years ago, according to ATTOM, a nationwide property database. While many

VALERIE MACON | AFP | Getty Images When Charlene Latsha calls the Social Security Administration, she’s placed on hold for so long that she hangs up. Latsha, 70, of Pottstown, Pennsylvania, has been trying to reach the government agency about her husband’s application for retirement benefits. Though he has been disabled and unable to work