Personal finance

Tim Robberts Saving for retirement can be hard. Planning how to spend that nest egg — while ensuring the money doesn’t run out — is harder. But there’s good news: Americans can build a simple, low-cost retirement plan using just Social Security and savings, according to experts. From an academic standpoint, the “optimal” retirement strategy combines two

NYUestimates it will cost students more than $78,000 to attend the school in 2020-2021. That includes tuition, fees, textbooks and room and board. But that’s not the price you will pay in 18 years. CNBC ran the numbers, and we can tell you how much money you would need to save to send your child

kate_sept2004 Pandemic first-aid kit You need seven things, according to Jeff Weinstein, a paramedic and medical operations supervisor for Global Rescue, which provides medical and crisis response service to travelers.  It’s likely you already have three: masks, hand sanitizer and disinfectant wipes. Carry isopropyl alcohol wipes and use them to wipe down your phone. Major smartphone

One analysis found that more than 40% of CDFI’s loans and investments are in majority-minority communities. LeoPatrizi Consumers can push for racial justice – and it’s as simple as opening an account at a community bank or credit union that supports under-served communities. Netflix announced recently that it would transfer $100 million of its cash

Military veterans, like many Americans, are struggling to find work as the coronavirus pandemic stretches on. While vets’ June unemployment rate is lower than the overall number, at 8.6% compared to 11.1% for the general population, it is still at more than double the number reported in March, the Military Times said. The Labor Department survey

If you’re hoping to score a good deal on a new car during July Fourth sales events,  it will be a mixed bag. While manufacturers and dealerships are offering special deals on some models to prop up sales amid the pandemic, inventory is down due to coronavirus-related disruptions in manufacturing. “We’ve seen incentives continue to

swissmediavision The seemingly endless nationwide pandemic lockdown has resulted in a lot of pent-up travel demand. As the second major long holiday weekend of summer gets underway, people looking to celebrate Independence Day are getting in their cars and campers for road trips — deemed by many a safer bet than air or cruise travel. 

Sometimes, it comes as a surprise to older folks that Medicare is not free. Depending on the specifics of your coverage and how often you use the health-care system, your out-of-pocket costs could reach well into six-figure territory over the course of your retirement, according to a recent report from the Employee Benefit Research Institute.

President Donald Trump speaks to journalists in the Brady Press Briefing Room at the White House July 2, 2020. The president addressed reports that the unemployment rate fell to 11.1%. Chip Somodevilla/Getty Images The U.S. unemployment rate is at its lowest level in months and the economy added a record number of jobs in June.

Lawmakers are giving cash-strapped entrepreneurs more time to apply for emergency funding. But the effort might be insufficient to keep business owners afloat. The Paycheck Protection Program, the forgivable loan program that was established through the federal CARES Act, was originally intended to cover eight weeks of payroll costs, plus mortgage interest, utilities and rent

Bobby Bonilla of the New York Mets looks on before a baseball game against the Arizona Diamondbacks on May 15, 1999 at Shea Stadium in New York. Mitchell Layton/Getty Images Bobby Bonilla, who retired as a baseball player in 2001, hasn’t played for the New York Mets since 1999. Yet Bonilla is among the highest-paid

Pedestrians in Washington pass a “We Are Open” restaurant sign during the Covid-19 outbreak on May 12. Jonathan Ernst | Reuters When it comes to the next coronavirus stimulus package and providing more direct financial aid, the question on most Americans’ lips is, “Will they or won’t they?” One political analyst predicts it’s likely lawmakers

Joseph Wardenaar was an executive chef in Portland before the coronavirus hit. Now he’s pursuing a career in computer programming. Source: Joseph Wardenaar Before the coronavirus crisis, Joseph Wardenaar was a successful chef in Portland, Oregon. At 36, he had worked his way up from line cook to executive chef at Irving Street Kitchen. Then,

Maskot/Getty Images Uncle Sam has heard your requests for more time to file your taxes – and they have been denied. The Treasury Department and the IRS will stick with the July 15 deadline for 2019 income tax returns and taxes owed for that year, the agencies said. The announcement came less than a week

ROBERTO SCHMIDT It’s impossible to think about racial injustice in the U.S. without looking at the distribution of dollars.  In many ways that Americans work to establish themselves financially — through the stock market,  net worth and homeownership — Black families trail White families. “To put it simply, we don’t have a level playing field,” said Evelyn Brodkin, an

Playing games with coins is one way to teach kids about money Source: Diana David Joseph School may be out for summer, yet you can still find the time to teach your kids about money — and it doesn’t have to be boring. “Some parents think they need to have the ‘money talk,’ but it’s

Klaus Vedfelt If you took a mandatory distribution from an inherited retirement account this year, the IRS will let you put the money back. The CARES Act, which became law on March 27, allowed individuals to skip required minimum distributions for 2020. This is the annual withdrawal you must take from your individual retirement account and

Rep. Bobby Rush, D-Ill. Ralf-Finn Hestoft | Corbis | Getty Image The bill, called the Student Recovery Eligibility for Low-Income Individuals to Exact Funds (RELIEF) Act of 2020, would make students receiving Pell Grants eligible to receive $1,200 stimulus checks. Federal Pell Grants are need-based funds given to low-income students to help them complete their

Getty Images For millions of Americans, federal stimulus of up to $1,200 per person has been the most highly anticipated payment of the year. But not everyone received their money the same way. Americans who were paid first generally got their money via direct deposit, while others received paper checks in the mail. The government

PeopleImages | E+ | Getty Images Deciding when to take your Social Security retirement benefits is a crucial decision no matter when you make it. Making that call during the coronavirus pandemic can raise the stakes. That’s because the age at which you decide to claim will lock in the amount of monthly income you