Personal finance

d3sign | Moment | Getty Images When it comes to reserving hotel stays, Aesop and his fabled ants might have gotten it backwards — it can actually pay to wait till the last minute to book. While conventional wisdom holds that travelers get better rates for accommodations, air and other vacation components by reserving early,

Sinenkiy | iStock | Getty Images Federal benefits for aged, blind and disabled Americans have not been updated in years. Now, some lawmakers and advocates are pushing for changes to the program — called Supplemental Security Income, or SSI — to be part of legislation being promoted in Congress. However, it is still unclear whether

Westend61 Panic selling often happens during stock market dips, and those who dump investments may later regret their decision.  The bigger issue, however, is getting back into the market after a “freak out,” according to research from the Massachusetts Institute of Technology. “Panic selling is predictable,” said co-author Chi Heem Wong, researcher at MIT, and there

In this article BKCC Ronnie Kaufman | DigitalVision | Getty Images Everyone wants to be happy in retirement. So what will it take to get there? It’s not just saving money, although that is key, according to certified financial planner Wes Moss, chief investment strategist at Atlanta-based Capital Investment Advisors and author of the upcoming

A detail of the statue of Satoshi Nakamoto, a presumed pseudonym used by the inventor of Bitcoin, in Budapest, Hungary. Janos Kummer | Getty Images News | Getty Images The price of popular cryptocurrencies like bitcoin and ethereum plunged Friday after Chinese officials intensified a crackdown, essentially declaring crypto to be illegal. The government intervention,

sorn340 | iStock | Getty Images It’s now been more than seven months since President Joe Biden asked the U.S. Department of Justice to review his legal authority to cancel student debt. The agency hasn’t released its findings yet. And although top Democrats argue that the president can cancel the debt through executive action, Biden

lisegagne | E+ | Getty Images The new enhanced child tax credit may help parents continue working, a recent study shows. Nearly 94% of parents said they planned to continue working or even work more once receiving the credit, which began in monthly installments in July, according to a report from a team of researchers

mediaphotos | E+ | Getty Images Many popular tax-planning strategies are on the chopping block as Democrats debate how to pay for their $3.5 trillion spending package. However, now is the time to consider year-end moves to lower next year’s tax bill, regardless of what happens in Congress. “Year-end tax planning should be done every

President Joe Biden speaks during a virtual Covid Summit of the United Nations General Assembly on Sept. 22, 2021 in Washington. Alex Wong | Getty Images News | Getty Images The wealthiest 400 American families paid an 8.2% average rate on their federal individual income taxes from 2010 to 2018, according to a White House

President Joe Biden addresses the 76th Session of the U.N. General Assembly on Sept. 21, 2021 in New York. Eduardo Munoz-Pool/Getty Images President Joe Biden and House Democrats have unveiled plans to raise taxes on households with more than $400,000 of annual income, and cut or maintain taxes for those below the line. But what’s

Even though the Federal Reserve didn’t raise its benchmark rate Wednesday, your borrowing costs may still start to head higher. Rising prices brought on by the economic recovery are paving the way for the central bank to unwind last year’s bond buying. While the central bank said that interest rates will stay near zero for now,

Frederic J. Brown | AFP | Getty Images Whoever is holding the winning ticket for the $432 million Mega Millions jackpot is about to discover what a huge tax bill really looks like. A single Mega Millions ticket sold in New York City matched all six numbers in Tuesday night’s drawing to nab the top

Halfpoint Images | Moment | Getty Images New data on the monthly child tax credit payments shows how parents earning up to $50,000 a year are using the extra money. They’re investing it. The monthly checks started in July, and include up to $300 per child under age 6 and $250 per month for children

skynesher New retirees — or anyone on the verge of retiring — may want to consider what an extended stock market dip would mean for their portfolio over the long-term. While the market has partially rebounded from Monday’s slide, it’s a good reminder that down markets can pose significant “sequence of returns” risk in the

U.S. Senate Majority Leader Chuck Schumer, D-N.Y., takes reporter questions after the weekly Senate Democratic policy lunch at the U.S. Capitol on Sept. 14, 2021. Evelyn Hockstein | Reuters Senate Majority Leader Chuck Schumer renewed his call for President Joe Biden on Tuesday to forgive $50,000 in student debt for all borrowers though executive action.

In this article TSLA Jeff Bezos, left, and Elon Musk Getty Images; Reuters The wealthiest Americans may be dodging as much as $163 billion in income taxes every year, according to the U.S. Department of the Treasury, and many leverage tax laws to do it legally, financial experts say. Although U.S. levies increase with income,

Chip Somodevilla | Getty Images News | Getty Images A tax package unveiled by House Democrats would forbid individual retirement accounts from holding certain private investments typically reserved for the wealthy. While proponents think the proposal would raise investor protection and reduce an the use of an IRA as a tax shelter for the rich,

fizkes | iStock | Getty Images Your 401(k) plan may have seen better days. A flurry of market risks have stocks in the red this week, with the Dow Jones Industrial down 500 points on Monday, or 1.4%. At the same time, the S&P 500 has shed 1.5%. But as uncomfortable as it can be

Rukiya Zaman, 7, received a $100 in a scholarship 529 college savings plan as part of a New York City pilot program aimed at closing the wealth gap. Her parents have since started saving in their own account. CNBC Rukiya Zaman, who is a 7-year-old, dreams of becoming a NASA astronaut. The second grader, who

svetikd | E+ | Getty Images Millions of American families with kids have received three monthly payments since July totaling $45 billion through the new enhanced child tax credit. There’s a limited amount of time for families with eligible children to sign up if they didn’t get the checks automatically, likely because they don’t traditionally