People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, June 18, 2020. Bryan Woolston | Reuters You would think having decades of experience should help in a job search. Yet it’s holding many older unemployed workers back during the coronavirus pandemic. Harry Hache, 59, was
Personal finance
U.S. President Donald Trump and Democratic presidential candidate former Vice President Joe Biden answer a question during the second and final presidential debate at the Curb Event Center at Belmont University in Nashville, Tennessee, October 22, 2020. Morry Gash | Pool | Reuters During the pandemic, federal student loan borrowers have been given a break
Josephine Flood | CNBC How to read this guide Follow along from start to finish, or jump to the section(s) you want to learn more about. Introduction Saving for retirement is the gnarliest of delayed gratification challenges. Tucking money away today in retirement accounts with the intention you won’t touch it for decades is not
Nikola Ilic | E+ | Getty Images These days, being invested in the stock market can feel a bit like you’re on a roller coaster ride. With gyrations in the market generally expected to continue in the near future, investors may want to remind themselves that volatility is par for the course. Otherwise, there’s the
Courtney Keating | E+ | Getty Images The U.S. stock market has had a volatile year, and choppy swings up and down show no sign of subsiding anytime soon. The roller-coaster ride can be worrying for those saving for, in or near retirement, yet financial advisors say that people with investment portfolios should stick with
People line up for early voting at the Jackson Heights branch of the Queens Public Library in New York on Oct. 24, 2020. Stephanie Keith | Getty Images Before you head into the voting booth next Tuesday, get to know where the presidential candidates stand on your taxes. Democrat Joe Biden is calling for tax
How millennials have been affected by unemployment during coronavirus CNBC Make It Having multiple jobs is often touted as a way to get ahead. During the coronavirus pandemic, not so much. That’s because laid-off workers with side gigs may receive a lot less money from unemployment benefits because government systems are not able to process
Student loan borrowers may see more relief still in the pandemic. ViT Postman | iStock | Getty Images Student loan borrowers benefiting from a pause in repaying their debt are hoping it will continue. If the moratorium isn’t extended, they’ll have to reach for their checkbooks come January. In March, the U.S. Department of Education
The ads popped up on social media. Earn as much as 7% interest on your savings by opening an account with a new start-up. In this historically low interest rate environment — when the average savings account pays just 0.09% annual percentage yield — the offer might have sounded too good to be true. Many
lechatnoir | E+ | Getty Images Older Americans may be among those first in line for a free Covid-19 vaccine as soon as one is available. The Trump administration is expected to soon announce a regulatory change that would allow Medicare to cover vaccines approved under emergency-use authorization, according to a report in Politico. The
Over the last decade, the cost of attending a four-year public college or university has grown significantly year after year. Until now. Amid the coronavirus and economic crisis, increases in tuition and fees are lower than ever, according to a report by the College Board, which tracks trends in college pricing and student aid. For
The U.S. Capitol in Washington, D.C. Al Drago/Bloomberg via Getty Images A new bipartisan retirement bill has perks for seniors and savers shouldering student debt. The legislation, proposed by House lawmakers on Tuesday, would raise the age at which seniors must start drawing money from their 401(k) plans and individual retirement accounts to 75. Under
Americans are experiencing three pandemics right now, according to wellness expert and best-selling author Deepak Chopra. The first is the Covid-19 pandemic and loss of life associated with the virus, he said. The second is the concurrent financial crisis hitting people across the country. “The third pandemic is anxiety and stress and fear of death,”
The Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBC We still have two months left in 2020, but the IRS has already released a breakdown of next year’s marginal income tax rates. Each year, the taxman updates its individual income tax brackets to reflect inflation. There are seven brackets: 10%, 12%,
Democratic presidential nominee Joe Biden at the final presidential debate on Oct. 22. Justin Sullivan | Getty Images News | Getty Images Consumers are likely to get a new financial watchdog if Joe Biden wins the presidential election next month. The Consumer Financial Protection Bureau has languished during the Trump administration, making it likely that
filadendron Social media isn’t just for selfies and connecting with your coworkers and family anymore — it can also be a great place to learn about managing your money and even find a financial advisor. Platforms such as Facebook, Twitter, LinkedIn and Instagram have surged in popularity in the last decade as places to socialize
Cocoa the dog with Sarah O’Brien the personal finance reporter Cameron O’Brien You might think that a person who covers personal finance would be naturally smart about money in her personal life. Er, no. Not at all. Grownup financial stuff? My mistakes have been plentiful. How long has this been going on? I’m closer to
Amid coronavirus and an economic crisis, saving for college may no longer be a priority — or even a necessity. With many families struggling to stay afloat, regular contributions to a 529 college savings plan could take a back seat to paying more pressing bills or daily expenses. At the same time, market volatility as
Carson Noel, right, has been unemployed since March due to the coronavirus pandemic. Carson Noel Carson Noel is running out of options. When the coronavirus pandemic hit in early March, two full months of work he’d lined up as a freelance journeyman in live events disappeared. “For the past seven months, I’ve been living off
Anxiety around money is spiking in the pandemic. mapodile | E+ | Getty Images Amanda Collins describes the experience of being out of work for seven months in one word: “Maddening.” She was furloughed in March from her job in the I.T. department at the John F. Kennedy Center for the Performing Arts in Washington,