Personal finance

Getty Images If you’re working and have access to a 401(k) plan, socking away at least enough money to grab the company’s matching contribution is key, experts say. Yet how much is that extra cash worth? Most companies that offer these workplace retirement plans will match your contributions up to a certain amount. Depending on

John and David Auten-Schneider on their wedding day. The couple married after more than 13 years together. Studio Lemus John Auten-Schneider and David Auten-Schneider came out about their finances about two years after they started dating. The conversation started while they were looking to buy land in Winter Park, Colorado, to build a weekend home.

Amy Abad-Sosa Amy Abad-Sosa What started out as a fun at-home activity for Amy Abad-Sosa has turned into a source of small business income. The 29-year-old mom of two and bookkeeper, based in Bogota, New Jersey, kicked off her new venture “Adventure Bins” this fall – homemade activity boxes for toddlers and preschoolers. “We’re not

Try – Fail – Success. Andrii Zastrozhnov | iStock | Getty Images Who can go through life without making some financial mistakes? In fact, so personal are matters of the pocketbook that it can be hard to definitely label any one money move a mistake. Maybe you wanted to go back to school and took

During the 2020 presidential campaign, Joe Biden promised to forgive a large chunk of the country’s outstanding student loan debt. Leah Millis | Reuters Even before the pandemic cost Adam Anderson his job, repaying his student loans was a challenge. He owes more than $60,000. He earned around $50,000 a year as a physical therapy

bymuratdeniz | E+ | Getty Images By this point, Medicare beneficiaries likely know that now is the time of year to get their 2021 coverage straight. While many individuals stick with what they have, others may be exploring a more suitable option. If that involves a Medicare supplement plan, aka Medigap, it’s important to know

Senators Kelly Loeffler, R-Ga., and David Perdue, R-Ga., at Hartsfield-Jackson Atlanta International Airport on July 15, 2020. Jonathan Ernst | Reuters Wealthy families have Georgia on their minds. That’s because the outcome of two contentious races for the Senate could shape their plans to pass on millions of dollars to their heirs, as well as

Oliver Rossi | Stone | Getty Images The coronavirus pandemic may be putting you in some uncomfortable financial situations with your family. A relative may have asked for a loan, or your young adult child may be looking to move back home. You may be struggling financially and haven’t addressed it with your kids, or

Volunteers distribute food to the needy in Orlando, Fla. Paul Hennessy/NurPhoto via Getty Images Continuing claims Continuing claims for unemployment benefits are the best available proxy for the total number of people receiving jobless aid. Claims have fallen by more than 10 million since the early summer. There were around 21 million continuing claims through

Seniors MoMo Productions | DigitalVision | Getty Images It’s a common end-of-year refrain: Don’t forget to take your required minimum distribution. But, just as with everything else in 2020, rules for RMDs, as they are generally known, are different this year. Seniors don’t have to take them. The CARES Act passed by Congress in March

President-elect Joe Biden delivers remarks in Wilmington, Delaware, on Nov. 9, 2020. Angela Weiss | AFP | Getty Images President-elect Joe Biden ran on a platform that included proposals to shore up Social Security benefits while extending the program’s solvency. How his administration and the next Congress take shape will help determine just how many

Andersen Ross | Blend Images | Getty Images Making smart tax decisions can have a big impact on the amount of money someone has in retirement. Investing and withdrawing retirement funds in a tax-efficient way is among the top ways financial advisors can boost returns for clients, according to an analysis published by researchers at

MoMo Productions Families of color were already trailing their White peers in retirement savings. Then the coronavirus pandemic hit, adding a further hurdle to retirement planning for minorities in the U.S. More than 60% of Hispanic households are at risk of being unable to maintain their current standard of living in retirement, along with 54%

Jamie Grill | Blend Images | Getty Images Retirement savers appear to be taking advantage of relaxed rules around 401(k) withdrawals during the coronavirus pandemic. The typical 401(k) investor pulled $12,000 from their account in the form of a “coronavirus-related distribution,” according to a new Vanguard analysis of its client data. This figure represents the

AJ_Watt | E+ | Getty Images Forget volatility. The thing that keeps certified financial planner Neil Waxman on edge is clients’ cybersecurity practices and the threat of identity fraud. “It’s not the markets that keep me up at night,” said Waxman, managing director of Capital Advisors in Shaker Heights, Ohio. “This is the thing that

Beam aimed to let users earn higher interest rates on their money by engaging with its mobile savings app. CNBC Thousands of customers of the savings app Beam, who have been unable to access their funds for months, remain locked out of their accounts despite the company’s promise that all transactions would be processed by

shapecharge | E+ | Getty Images Medicare beneficiaries who pay extra for coverage due to higher income should be aware that those monthly surcharges are creeping up for 2021. With the standard premium for Part B (which covers outpatient care) now set at $148.50 next year, those so-called income-related monthly adjustment amounts, or IRMAAs, will

On the heels of President-elect Joe Biden’s victory, free college may finally become a reality. On the campaign trail, Biden said he will enact legislation to ensure that students can go to community college for up to two years without having to pay tuition. Biden also adopted a proposal from Sen. Bernie Sanders, I-Vt., to

Getty Images If you’re an investor wondering which sectors may do well in 2021, keep an eye on those that would benefit from a dose of pre-Covid normalcy. With Monday’s news that results from a coronavirus vaccine trial were better than expected, the major stock indexes jumped. By mid-day, both the S&P 500 index and

Labor leaders, workers and activists attend a rally for a $15 minimum hourly wage on July 22, 2015 in New York. Spencer Platt | Getty Images The federal minimum wage which is currently $7.25 per hour, has not been updated since 2009 and is an unlivable income in most of the U.S. It may soon