shapecharge | E+ | Getty Images As households struggle to make ends meet, more Americans have been forced to halt or raid their retirement savings in this coronavirus-induced recession. Nearly 3 in 10 people have decreased the amount of money they’re setting aside for retirement or stopped saving altogether due to the economic fallout of
Personal finance
Hero Images | Hero Images | Getty Images Retirees with a heavy reliance on U.S. Treasury bonds for income may want to rethink their investment strategy. With yields on Treasurys at historically low levels, these stalwart income-producers may be doing less for you than you intend. While they still provide the safety you might seek,
When I drove my son to school for the first time since March, I was overcome with gratitude for the faculty and staff who have worked countless hours preparing to bring students back to the classroom safely. As a mother, sending my child to school in-person this fall felt like the greatest gift — even
Stephen Maturen | Getty Images Recent stock market highs and lows have investors already bracing themselves for one more looming uncertainty: the presidential election. If you’re like most investors, you’re already anticipating that the outcome of this year’s race for the White House will have an impact on your money. The vast majority of
House Speaker Nancy Pelosi, D-Calif., holds her weekly press briefing on Capitol Hill on Aug. 13, 2020. Jim Watson | AFP | Getty Images The U.S. House of Representatives won’t be rolling out the payroll tax deferral to its employees. Sept. 1 was the first day of President Donald Trump’s order deferring the 6.2% employees pay
Events and entertainment workers protest unemployment on Aug. 19 in Las Vegas. BRIDGET BENNETT/AFP via Getty Images) It’s a hard time to try to plan your finances. Unemployment benefits and another round of stimulus checks are up in the air. Evictions are banned, but only temporarily. Much of the uncertainty is due to the fact
Older couple meeting with a financial advisor Getty Images For retiring workers who are given the pension choice of a lump sum or lifetime payments, one thing may play into their decision: whether they think the employer will be able to meet its long-term commitments. And as some companies work to regain their financial footing
Maybe you know a “super saver.” It’s the person who somehow manages to follow a budget, has emergency savings and puts away a ton for retirement. Although this type of financial discipline may be enviable, it can also mean making some sacrifices, based on the findings in a recent report from Principal Financial Group. These
Getty Images Penalties are about to get way steeper for taxpayers who still haven’t filed a 2019 income tax return and owe the IRS a balance. July 15 was the deadline to submit your return and pay any taxes owed, as the Treasury Department pushed back the due date in light of the coronavirus pandemic.
nelsonarts | E+ | Getty Images While private companies decide how to proceed with the payroll tax holiday, one major employer has decided that it’s in: the federal government. President Donald Trump’s payroll tax deferral, which he issued via executive order, took effect on Sept. 1. It’s a temporary suspension of the 6.2% tax employees
The U.S. Capitol Building is reflected against an ambulance along the East Front on Capitol Hill in Washington, U.S., July 16, 2020. Tom Brenner | Reuters While negotiations over the next coronavirus stimulus bill have carried on for months, there has been one certainty: Democrats, Republicans and President Donald Trump have all backed sending out
Getty Images There’s nothing like some volatility in the stock market to test an investor’s ability to make rational decisions. Whether share prices are heading up or down, it’s common for individuals to make mistakes that are driven by emotion, experts say. “Investors tend to extrapolate,” said Dave Goodsell, executive director of the Natixis Center
Maskot | Maskot | Getty Images If you’ve been hunkering down in a different state due to Covid-19, your tax situation is about to get a little more complex. The longer you stay away from your home base — particularly as we approach the sixth month of remote work for many people — the greater
Tetra Images – Daniel Grill | Brand X Pictures | Getty Images Millions of Americans who were shut out of $1,200 coronavirus stimulus payments this year are about to get one more chance at a check. Later this month, the IRS will begin mailing letters to about 9 million people who normally don’t file a
As the pandemic rages on, many people have one less thing to worry about: Getting evicted. No-Mad | iStock | Getty Images What does the ban do? It bans evictions due to non-payment of rent in most residential properties between Sept. 4 and Dec. 31. Who’s eligible? You’ll need to attest on a declaration form that
Ariel Skelley | DigitalVision | Getty Images Saving for retirement could look very different during the pandemic. Especially vulnerable are independent business owners and the self-employed, who in the best of times are on the hook for not only funding their own future retirement but daily income, as well. Even before the pandemic, just 13% of those
People pass by The New York Stock Exchange on Aug. 3, 2020. Angela Weiss | AFP | Getty Images You may be tempted to revisit your retirement investing strategy now that stocks are falling, but history shows those who get the best return on their money stay the course. The Dow Jones Industrial Average dropped more
This back-to-school season is like no other for many reasons. And that makes preparing for it especially challenging. As of a recent tally, a little more than half of U.S. elementary and high school students will attend school only virtually this fall, although changes are announced daily. As a result, families have delayed many traditional back-to-school purchases.
Traders work during the opening bell at the New York Stock Exchange on March 5, 2020. Johannes Eisele | AFP | Getty Images It may feel that much of our lives are on pause during the pandemic. But not the stock market. Especially over the last few days. On Thursday, the S&P 500 tech sector
Jose Luis Pelaez Inc Millions of Americans who are eagerly waiting for a second round of $1,200 stimulus checks may be relieved to know those payments are still a priority for Washington lawmakers. But Republicans and Democrats in Congress must first end their stalemate and approve the next coronavirus relief bill before Americans can get