Personal finance

pixelfit | E+ | Getty Images Young, wealthy investors don’t want their parents’ investments. If you’re between the ages of 21 and 43 and have at least $3 million in investable assets, your preferred investments likely aren’t your traditional mix of stocks and bonds, according to new research from Bank of America. Nearly one-third of

Erin Collins, national taxpayer advocate at the Taxpayer Advocate Service, speaks at a Senate Appropriations subcommittee hearing in Washington, D.C., on May 19, 2021. Bloomberg | Bloomberg | Getty Images There’s a pileup of tax identity theft cases at the IRS — but the agency is working on a “range of improvements” to speed up

Patchareeporn Sakoolchai | Moment | Getty Images Summer is the season of road trips. A record 70.9 million Americans are expected to travel by car during the July 4th holiday week alone, according to AAA. For some car owners, it might be more financially savvy to rent a vehicle for a road trip than use

Former President Donald Trump gives the keynote address at Turning Point Action’s “The People’s Convention” in Detroit, June 15, 2024. Bill Pugliano | Getty Images At a June 18 campaign rally in Racine, Wisconsin, former President Donald Trump slammed the Biden administration’s efforts to forgive student debt as “vile” and “not even legal.” “The students

Former President Donald Trump, left, and President Joe Biden face off in the first debate of the 2024 presidential campaign, in Atlanta, June 27, 2024. Andrew Harnik | Getty Images News | Getty Images The recent U.S. presidential debate saw both candidates trade barbs related to the economy. High pandemic-era inflation was among the grievances.

Damircudic | E+ | Getty Images Millions of student loan borrowers were looking forward to a smaller monthly bill come July, until a legal challenge to the Biden administration’s new relief plan got in the way last week. But on June 30, a federal appeals court gave the U.S. Department of Education the green light

Eva-katalin | E+ | Getty Images Retirees are still feeling the impact of higher prices. Yet one buffer for the effects of inflation — the Social Security cost-of-living adjustment, or COLA, — may be lower next year. As the rate of inflation moderates, the Social Security COLA for 2025 might be 3%, according to the

Tolgart | E+ | Getty Images Cybercriminals are targeting wealth accounts by tapping into a victim’s emotions. So-called romance scams involve building a relationship and trust with the victim so that the target willingly provides access to their accounts or transfers money to the criminal, explained Tracy Kitten, the director of fraud and security at

Johner Images | Johner Images Royalty-free | Getty Images Many retirees don’t think about taxes until it’s time to withdraw funds from a pretax account, which can be a costly mistake, financial experts say. Only 3 in 10 Americans have a plan to reduce taxes on retirement savings, according to a Northwestern Mutual study from January

Maryna Terletska | Moment | Getty Images Individual retirement accounts are getting bigger — and it can cause tax issues for retirees or their children who inherit the assets, experts say. The median IRA or self-employed Keogh balance was $87,000 in 2022, up from $81,144 in 2019, according to a June report from the Employee

Skaman306 | Moment | Getty Images It wasn’t long ago that investors earned practically 0% returns on cash. As the Federal Reserve has kept interest rates high to combat high inflation, you can easily earn 5% annual percentage yields on savings accounts and other low risk vehicles. Some experts are now warning it’s possible to

Taylor Swift performs on stage during The Eras Tour on June 28, 2024 in Dublin, Ireland.  Charles Mcquillan/tas24 | Getty Images Entertainment | Getty Images Taylor Swift’s European tour was top of mind for Nikita Rao when planning where to go for her family’s annual summer vacation. Rao, her husband and two kids, who live

Recep-bg | E+ | Getty Images The U.S. Department of the Treasury and IRS on Friday released final tax reporting rules for digital asset brokers — and crypto investors have limited time to prepare, experts say. Mandatory yearly reporting will phase in starting in 2026, with digital currency brokers required to cover gross proceeds from

Klaus Vedfelt | Digitalvision | Getty Images Although the unemployment rate has spent 30 months at or below below 4% — a near record — not everyone who wants a job has one. And not everyone even wants a job at all. Some, referred to as “NEETs,” which stands for “not in employment, education, or training,” are

In this article META AMZN MSFT TSLA GOOGL AAPL NVDA Follow your favorite stocksCREATE FREE ACCOUNT Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024.  David Paul Morris/Bloomberg via Getty Images The U.S. stock market has become dominated

A group of guys enjoy a dinner at Cassias outdoor patio as the much loved restaurant re-opens its indoor dining and continues outdoor dining on Wednesday, May 5, 2021 in Santa Monica, CA.  Jason Armond | Los Angeles Times | Getty Images Consumers aren’t sacrificing dining out, even with prices on the rise — but

Peopleimages | Istock | Getty Images To effectively plan for your retirement, experts say, you need to watch your savings rate and total nest egg. But how much you really need to have set aside depends on another number — your life expectancy. Yet that figure is also the most elusive — no one knows

Republican presidential candidate former U.S. President Donald Trump and Democratic Party presidential candidate U.S. President Joe Biden speak during a presidential debate in Atlanta, Georgia, U.S., June 27, 2024 in a combination photo. Brian Snyder | Reuters The future of Social Security and Medicare may be greatly impacted by whoever occupies the White House following

Some people could find themselves wrangling with summer travel bills well after Labor Day. To that point, 36% of Americans said they plan to take on debt in order to travel this summer, according to a March survey from Bankrate. The payment methods for summer travel expenses ranged from personal loans (5%) and buy now,

Spotmatik | Photodisc | Getty Images While lawmakers have a growing interest in taxing the ultra-rich, last week’s Supreme Court ruling could threaten future wealth tax proposals, experts say. In Moore v. United States, the Supreme Court blocked a challenge to the “mandatory repatriation tax,” a one-time levy on certain foreign investments enacted in 2017.