Personal finance

Tomml | E+ | Getty Images Social Security beneficiaries will soon know the size of their annual cost-of-living adjustment for 2025. They may be in for a disappointment because if current projections hold true, the increase to benefits could be the lowest since 2021. The Social Security cost-of-living adjustment, or COLA, could be 2.5% next

Shapecharge | E+ | Getty Images If you’re investing in a brokerage account, it’s important to know how assets can impact your taxes, especially with possible rate increases on the horizon. Without action from Congress, trillions of tax breaks enacted by former President Donald Trump will expire after 2025, including lower federal income tax brackets,

David Hester inspects damages of his house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024.  Chandan Khanna | Afp | Getty Images It’s crucial to understand how to file a homeowners insurance claim after a natural disaster.  Insured losses alone for Hurricane Helene are now estimated at more than $6

In the last year, credit card debt spiked to a record $1.14 trillion. But recent signs show consumers may now be pulling back. Revolving debt, which mostly includes credit card balances, fell 1.2% in August, compared to a year earlier, according to the Federal Reserve’s G.19 consumer credit report released on Monday. Nonrevolving debt, such as

Skynesher | E+ | Getty Images For some retirees, the deadline to take required withdrawals from retirement accounts is approaching — and those who don’t need the money have options, experts say. Since 2023, most retirees must take required minimum distributions, or RMDs, from pre-tax retirement accounts starting at age 73. April 1 after turning

krisanapong detraphiphat | Moment | Getty Images Investors are at a heightened risk of cryptocurrency scams tied to fake relationships established over social media, dating apps and networking sites, federal officials warn. Such frauds occur when scammers use dating apps, social media platforms, professional networking sites or encrypted messaging apps to pose as a romantic

Voters cast their ballots on the second day of early voting in the 2024 presidential election at the Board of Elections Loop Super Site in Chicago, Illinois, on October 4, 2024.  Kamil Krzaczynski | AFP | Getty Images There are few topics Americans would rather not talk about more than money. They would even rather

Josh Brown Photo: Duncan Hill Josh Brown once had this idea that in order to be a financial advisor, you needed to be buttoned up and fit a particular mold. Brown, a CNBC contributor who often takes a casual and accessible tack with investors for his commentary, has since learned that there’s more than meets

Angela Ramirez-Riojas, 18, is enrolled in Riverview High School’s construction academy. Courtesy: Riverview High School For Angela Ramirez-Riojas, 18, going to college was always plan B. Her grandfather works in construction, and that motivated Ramirez-Riojas to follow in his footsteps. “I’ve gone with him to work,” she said. “He frames houses and I really enjoyed

Alvaro Gonzalez | Moment | Getty Images Whether it’s stock market volatility, the Federal Reserve’s interest rate cuts or proposed tax law changes, we’re dedicated to breaking down the news to help investors make smart money decisions. But CNBC’s personal finance team also recognizes the value of financial planning, regardless of your life stage, income

South_agency | E+ | Getty Images Older Americans make up the largest share of homeowners in the U.S. compared to other generations. However, many are renting in their retirement years.  Most older adults, those at least 65 years old, own their homes, according to the Joint Center for Housing Studies at Harvard University. Yet, more than

Damircudic | E+ | Getty Images Women have been making significant strides in their education and careers and working as much, if not more, than their male counterparts. Today, women who are just starting out, between the ages of 20-24, account for about 50% of total employment, which means that young women are just as

A van flows in floodwaters in the aftermath of Hurricane Helene on Sept. 28 in Asheville, North Carolina. Sean Rayford | Getty Images News | Getty Images States affected by Hurricane Helene are warning residents to watch for the risks of scams in the aftermath of the storm, including price gouging. Price gouging happens when

Internal Revenue Service Commissioner Danny Werfel testifies before the House Appropriations Committee on Capitol Hill on May 07, 2024 in Washington, DC.  Kevin Dietsch | Getty Images News | Getty Images Next year, more than 30 million Americans in 24 states will be eligible for Direct File, the IRS’ free tax filing program, the agency

Jordi Mora Igual | Moment | Getty Images If you’re seeking refuge from market volatility, so-called buffer exchange-traded funds provide some downside protection. But these ETFs also limit upside potential and come with higher fees, experts say.   Buffer ETFs, also known as defined-outcome ETFs, use options contracts to offer investors a pre-defined range of outcomes

The one-year grace period for student loan borrowers who miss a payment expired this week. And yet, millions of Americans are likely unprepared to give up that key safety net. The goal of the 12-month “on ramp” to repayment was to give borrowers some breathing room as they worked student loan payments back into their budgets. Although interest still accrued on

Baona | E+ | Getty Images As year-end approaches, you may be eyeing Roth individual retirement account conversions. The strategy, however, boosts your income, which can have other tax consequences, experts say. Roth conversions shift pretax or nondeductible IRA funds to a Roth IRA, which provides future tax-free growth. But the converted balance boosts your

Frederick MacLean, president of Heritage Investment Group Courtesy: Heritage Investment Group Frederick MacLean, president of Heritage Investment Group, doesn’t mind if you call his strategy boring. In fact, there’s not much that could unsettle him or his approach.    Heritage Investment Group, which ranked No. 1 on CNBC’s list of the top 100 financial advisors in the

Republican vice presidential nominee, U.S. Sen. JD Vance speaks at a campaign rally at Radford University on July 22, 2024 in Radford, Virginia. Alex Wong | Getty Images News | Getty Images Many voters ages 50 and up say two issues — Social Security and Medicare — could decide how they cast their ballots this November.

Port of Miami dockworkers strike near the port entrance and demand a new labor contract, on October 1, 2024 in Miami, Florida.  Giorgio Viera | Afp | Getty Images A dockworker strike at seaports along the U.S. East and Gulf coasts is expected to cause massive problems for global supply chains and the economy. American consumers will likely