Advisors

Kate_sept2004 | E+ | Getty Images If you’re itching to save more into your 401(k) for 2023, your plan may have a feature that allows you to bypass the yearly deferral limit. For 2023, you can funnel $22,500 into your 401(k), plus an extra $7,500 if you’re 50 or older. But so-called after-tax contributions can

Whether you’re at a restaurant, coffee shop or are using an app on your iPhone, you’re being asked to tip just about everywhere these days and for just about everything. It’s one thing to choose not to tip the worker at the cash register of a toy shop or clothing store, places where workers aren’t

Halfpoint Images | Moment | Getty Images Saving for retirement is one thing, meeting your goals in the golden years is another. That’s where worry creeps in. Among older workers, just 34% of baby boomers and 26% of Gen Xers feel like they’re on the right track with their retirement savings, according to a recent

larryhw | iStock / 360 | Getty Images The annual rate for newly bought Series I bonds could top 5% in November — and there are several things to consider before adding more to your portfolio, experts say.   November’s rate for new purchases could be higher than the current 4.3% interest on I bonds bought

The floor of the New York Stock Exchange. Spencer Platt | Getty Images August and September are historically the worst months for stocks. That was the case this year, as the S&P 500 index fell 6.5% over that span. Much of the time, however, the rest of the year can provide a respite, helping investors

About half of holiday shoppers have already started making purchases or plan to begin by Halloween, according to a recent Bankrate survey.  Most of them will use credit cards to pay for at least some of their purchases, the survey shows. “A couple of years ago, early holiday shopping was all about the supply chain

Ethan Hawke sits with Winona Ryder in a scene from the 1994 film “Reality Bites.” Universal Pictures | Moviepix | Getty Images As Generation X knows all too well, “reality bites,” to quote the iconic 1994 film of the same name. Most Gen Xers — roughly defined as those born between 1965 and 1980 —

Cravetiger | Moment | Getty Images The 60/40 portfolio — a cornerstone strategy for the average investor — has been stressed by the pandemic-era economy and market dynamics. However, “the 60/40 portfolio certainly isn’t dead,” Holly Newman Kroft, managing director and senior wealth advisor at asset manager Neuberger Berman, said Thursday at the semiannual CNBC

Demonstrators call for immigration reform near the White House on Feb. 14, 2022. Nicholas Kamm | AFP | Getty Images As the U.S. fertility rate continues to fall, there are growing concerns about the long-term economic impact: A smaller population means less tax revenue, which could reduce funding for programs such as Social Security and

Justin Sullivan | Getty The Powerball jackpot surged to an estimated $1.73 billion, the second-largest prize in the game’s history, without a winning ticket on Monday. While it’s the first time Powerball has seen back-to-back billion-dollar grand prize cycles, lottery jackpots have gotten bigger more frequently over the past several years, experts say. The next

Amid heightened economic uncertainty, Americans, overall, are saving less. The personal savings rate — how much people save as a percentage of their disposable income — was 3.9% in August, well below a decadeslong average of roughly 8.9%, according to the latest data from the U.S. Bureau of Economic Analysis. And yet, consumers continue to spend,

Ana Paula Cortes Courtesy: Ana Paula Cortes Ana Paula Cortes graduated from New York University in 2021 with her master’s degree in creative writing — and $100,000 in student debt. Lea este artículo en español aquí. Cortes, a U.S. citizen who grew up in Mexico, had to finance her degree on her own. She was raised

TikTok logo displayed on a cellphone. Hyoung Chang | Denver Post | Getty Images With consumers turning to social media for financial information, tax advisors are often battling misinformation spread by influencers on popular platforms like TikTok. Nearly 80% of millennials and Gen Zers have used social media for financial advice, according to a 2023

Unexpected medical bills can cost as much as $1,000 or more. Sometimes, these expenses are unavoidable. Still, you can take steps or ask questions of medical providers or your insurance company to avoid overpaying or getting saddled with charges you can’t afford to pay. According to the Consumer Financial Protection Bureau, about $88 billion of

Moyo Studio | E+ | Getty Images It used to be when you talked about marriage and the “golden years,” the picture was a traditional one. Get married, work hard, buy a house, have children and retire surrounded by family and some grandchildren. Divorce was a hush-hush topic and a rare occurrence. However, as the

Marco Vdm | E+ | Getty Images The wage gap costs women in the U.S. about $1.6 trillion a year, a new report finds. Women earned 78 cents for every dollar that men made in 2022, according to National Partnership for Women and Families. Researchers calculated the total cost to women of the wage gap

To be sure, 529 college savings plans already had a lot going for them. Now, thanks to ”Secure 2.0,” a slew of measures affecting retirement savers, they’re about to be even more attractive. Starting in 2024, savers can roll unused money from 529 plans over to Roth individual retirement accounts free of income tax or tax penalties. Among other limitations,

Shoppers at a Chicago grocery store, Aug. 9, 2023. Scott Olson | Getty Images Inflation has continued to take a bite out of Americans’ wallets in 2023. But onetime predictions that a recession is on the horizon are instead now turning into forecasts of a soft landing for the U.S. economy. For top financial advisors

D3sign | Moment | Getty Images Women spend more time than men providing unpaid care for children, older adults and other family members — time than can have a significant effect on their finances. Women spend an average 51.6 minutes a day caring for household children, other household members and nonhousehold members, according to a

Sporrer/Rupp | Image Source | Getty Images New government inflation data points to a 3.2% Social Security cost-of-living adjustment in 2024, according to a new estimate from The Senior Citizens League. That would raise the average monthly retirement benefit by about $57.30, according to the nonpartisan senior group. The Senior Citizens League’s calculations are based