Advisors

Fotostorm | E+ | Getty Images Fears of an upcoming recession and high inflation may be weighing most heavily on single women, according to a financial advisor who works with that demographic. “In times of inflation, the cost of everything goes up, including rent, utility bills, groceries and health care,” said certified financial planner Cathy

Holger Scheibe | The Image Bank | Getty Images A recession may be in the forecast for the U.S. economy, but the big question is when. The Federal Reserve has said the banking crisis may prompt a mild recession later this year. On Wednesday, the central bank raised interest rates by 0.25 percentage point, while

Jose Luis Pelaez | Iconica | Getty Images Saving for retirement often comes with an upfront tax break when funneling money into pretax accounts. But it’s also critical to manage taxes on future withdrawals, experts say. If you don’t need the money, you may delay taking funds from retirement plans until your mandatory yearly withdrawals,

Nitat Termmee | Moment | Getty Images The following is an excerpt from “This week, your wallet,” a weekly audio show on Twitter produced by CNBC’s Personal Finance team. Listen to the latest episode here. Being a “master of cash flow” is a key element of household finance — and also one of the most

Francesco Carta Fotografo | Moment | Getty Images When it comes to cryptocurrency like bitcoin, new investors are often motivated by friends to take the plunge, according to a new study. But that might hold traps for the unwary, experts warn. “I don’t imagine friends are talking about when they lost money,” said Lee Baker,

Money remains a taboo subject for many people — especially when it comes to discussing finances with the important people in their lives.  Almost two-thirds of couples believe they’re “financially incompatible,” meaning their spending, investing and saving habits aren’t aligned, according to a recent survey. This disparity can lead to uncomfortable situations like not wanting

Republican Sen. Bill Cassidy of Louisiana speaks to the press on Capitol Hill on Feb. 10, 2021. Nicholas Kamm | AFP | Getty Images Social Security’s trust funds have a new projected depletion date that is about a decade away. Sen. Bill Cassidy, R-La., revealed during a Tuesday webcast hosted by the Bipartisan Policy Center

Prostock-Studio | Istock | Getty Images If you’re eager to funnel as much as possible into your 401(k), some plans have a special feature to save beyond the yearly deferral limit. The 2023 deferral limit for 401(k) plans is $22,500, plus an extra $7,500 if you’re age 50 or older. But an under-the-radar option, known

In this article PRU Follow your favorite stocksCREATE FREE ACCOUNT Learning about money is the foundation of financial literacy and the key to achieving financial security. Yet financial education isn’t part of the curriculum in most U.S. schools.   Only eight states have fully implemented a requirement for all high school students to take one semester-long

Sdi Productions | E+ | Getty Images It’s been a grueling period for investors amid rising interest rates and lingering recession fears.  But despite market volatility, it’s still important to think holistically about your finances, including your estate plan, according to New York-based certified financial planner Lazetta Rainey Braxton, co-founder and co-CEO of 2050 Wealth

Some of the nation’s money management giants are tackling the growing concern that more Americans may begin to outlive their retirement savings. Starting in the fall, Fidelity will let plan participants convert some of their retirement savings into an immediate income annuity to provide pension-like payments throughout retirement. Fidelity Investments is the nation’s largest provider of

Danny Werfel, commissioner of the Internal Revenue Service (IRS), speaks during a Senate Finance Committee hearing in Washington, DC, on Wednesday, April 19, 2023. Al Drago | Bloomberg | Getty Images As tax season winds down, questions remain about the future of free filing options from the IRS — including a possible direct e-file option

In this article ANET Follow your favorite stocksCREATE FREE ACCOUNT Sompong_tom | Istock | Getty Images The rise of ChatGPT has sparked another national conversation about artificial intelligence. Depending on your viewpoint, the bot is either the key to making a host of companies and their workers more efficient, or it’s a slippery slope toward

Catherine Mcqueen | Moment | Getty Images Inflation is gradually falling but remains high, meaning consumers’ budgets continue to be stressed by fast-rising prices. For some, that might mean making tough financial tradeoffs — an exercise that starts by coming to terms with the situation and making an honest assessment of your needs, said Lazetta

d3sign | Moment | Getty Images If you haven’t filed your taxes over the past few years, the window to claim old refunds is closing, according to the IRS. There are nearly 1.5 million people with unclaimed refunds from tax year 2019, worth almost $1.5 billion, with a median payment of $893, the agency said

When you’re living paycheck to paycheck, it can be tough to find money to save. That was the situation one audience member, Natalie, wrote in about ahead of CNBC’s Women & Wealth event on Tuesday. While grappling with high childcare and housing costs, Natalie is barely breaking even, she wrote, which makes finding money to

Jetcityimage | Istock | Getty Images There’s been record-breaking demand over the past year for Series I bonds, an inflation-protected and nearly risk-free asset. But rates have been falling and the yield will decline again in May, experts say. Newly purchased I bonds currently offer 6.89% annual returns through April, and the yearly rate may

Izusek | E+ | Getty Images Emotions can get the better of us when it comes to investing — particularly when financial markets get volatile. Behavioral finance tells us we are inherently bad investors, prone to making decisions based on emotions rather than evidence and self-interest. Just as we are a bundle of biases and

Srdjanpav | E+ | Getty Images This tax season, older taxpayers may find they owe more money to Uncle Sam than they expected. The reason: More of their Social Security benefits may be taxed following a higher 5.9% cost-of-living adjustment in 2022. This year’s record 8.7% cost-of-living adjustment may also prompt more benefits to be

Tax season is upon us, and along with it comes the ensuing bout of paranoia about the dreaded IRS audit. But, statistically speaking, getting audited is unlikely for most American taxpayers. In 2022, the IRS audited 3.8 out of every 1,000 income tax returns. Audit rates have been on the decline since 2010. Across all