Advisors

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

David Jakle | Image Source | Getty Images If you’re worried about rising interest rates, you may be eyeing high-yield bonds, which typically pay a bigger coupon and may help offset price declines in your bond portfolio. But these assets may also carry more risk, according to financial experts. While market interest rates and bond

MoMo Productions | DigitalVision | Getty Images If you can afford to max out your 401(k) and there’s still wiggle room in your budget, your plan may have a special feature to save even more. Although the 401(k) deferral limit for 2022 is $20,500 if you’re under 50, you can use after-tax contributions to save

In this article NAVI Supannee U-prapruit | iStock | Getty Images For many American families, the largest cash infusion they get all year is their tax refund. The average check cut by the IRS was more than $2,800 in 2021, although refunds might be smaller this year for several reasons. How you should spend the

A Bitcoin ATM is seen inside a gas station in Los Angeles on June 24, 2021. CHRIS DELMAS | AFP | Getty Images Roughly 2 out of 3 “fund selectors” don’t think individual investors should own cryptocurrency in their portfolios, largely for reasons related to transparency and regulation, according to a Natixis Investment Managers survey.

Jose Luis Pelaez Inc Finding a competitive interest rate on your emergency savings has become even more difficult amid record high inflation. But there is good news. The Federal Reserve is expected to begin raising interest rates. When they do, that will kick up the interest you can earn on your cash. Some accounts may

In this article PRU Willie B. Thomas | DigitalVision | Getty Images Thought saving for retirement was hard? Spending that money — and ensuring it lasts through old age — is even harder. It may not sound tough at first blush. But consider all the unknowns: how long you’ll live; the need for costly health

Tom Werner | DigitalVision | Getty Images There’s a growing list of essential things for taxpayers to know as the IRS embarks on a challenging season with limited staffing and a backlog from 2021 that’s still millions of returns deep. There were 6 million unprocessed individual returns as of Dec. 31, according to the IRS,

Portra | DigitalVision | Getty Images If you’re eager to slash your tax bill, two popular methods are claiming credits and deductions on your return. While both can reduce your balance, these write-offs have key differences, which ultimately affect your bottom line. Credits lessen your liability on a dollar-for-dollar basis, whereas deductions reduce income subject

FatCamera If you’re hoping to generate income from your investment portfolio, closed-end funds could be one piece of the puzzle. These funds come with more risk than, say, U.S. Treasurys, yet also can provide decent yields that may have a place in the fixed-income portion of your investment portfolio. And sometimes, they give you a

Dean Mitchell | E+ | Getty Images Most people don’t know the first thing about the Secure Act and yet it has great impact on their retirement planning. With little fanfare, the Secure Act (Setting Every Community Up for Retirement Enhancement Act) was signed into law on Dec. 20, 2019. It’s an important piece of

Zoom In Icon Arrows pointing outwards If you’re one of the millions of Americans who own cryptocurrency, there’s a key question to answer this tax season. Over the past couple of years, the IRS has stepped up crypto reporting with a yes-or-no question about “virtual currency” on the front page of your tax return.  The