Thomas Barwick The disaster some wealthy investors have been preparing for has finally arrived. Since the coronavirus pandemic struck, market volatility has become a regular theme for investors. On March 23, the S&P 500 index plummeted to 2,191.86 – an intraday low – but since then, it’s risen by close to 40%. In anticipation of
Personal finance
Students at the Bradley-Bourbonnais Community High School graduation ceremony on May 06, 2020 in Bradley, Illinois. Scott Olson The future is suddenly looking very different for new high school graduates thanks to the coronavirus pandemic. In fact, 49% of the Class of 2020 have changed their plans as a result of the crisis, according to
Yellow Dog Productions The U.S. economy is restarting and millions of unemployed Americans are returning to work. Yet that positive trajectory may not last. Many newly employed Americans could be furloughed or laid off again. Officials in areas like New York have discussed renewed lockdown measures as citizens flaunt social distancing rules. Houston may
Jay Clayton, chairman of the Securities and Exchange Commission, warned Wednesday about the risks of tapping 401(k) retirement money and using it for riskier investments during the coronavirus pandemic. As part of the CARES Act, Congress approved a change to let people withdraw up to $100,000 from their 401(k) or IRA accounts this year without having to
rudi_suardi For the most part, Americans spent very little during the pandemic — up until now. On Tuesday, May retail sales shattered expectations, jumping 17.7% in the biggest monthly surge ever. President Donald Trump was quick to post on the news. Nearly half of all consumers had said they were saving more during the coronavirus crisis by
Klaus Vedfelt | Getty Images Many companies have made big promises in recent weeks when it comes to improving racial diversity. Yet investors may be wondering whether the stocks they own include companies that have made racial inclusion a priority. One index is aiming to provide a measure for that. The Morningstar Minority Empowerment Index
Customers sitting outside of a restaurant in San Francisco, California, U.S., on Monday, June 15. San Francisco restaurants opened their patios Friday for the first time in three months. Photographer: David Paul Morris/Bloomberg via Getty Images States are reopening and millions of people have returned to work. In some cases, those workers may be able
Larry Kudlow, director of the U.S. National Economic Council, speaks to members of the media outside the White House in Washington, D.C., U.S., on Monday, June 15, 2020. Photographer: Stefani Reynolds/CNP/Bloomberg via Getty Images The Trump administration wants to end enhanced unemployment benefits and replace them with a different policy, according to a senior aide.
Karen Ducey | Getty Images So you’ve enrolled in Medicare and have determined that a supplement plan — aka, “Medigap” — is an appropriate add-on for you. There may be more decisions to make. While Medigap policies are standardized regardless of which insurance company sells them and where you live, the premiums can vary from
katleho Seisa Word on the street was that the stock market was immune to the coronavirus pandemic. We wished. Stocks have been gyrating this week and last on news that virus rates could surge as businesses around the country re-open and social distancing practices are relaxed. Since the start of 2020, the S&P 500 Index is
When the coronavirus crisis hit New York, many of the city’s wealthiest families went elsewhere. Without knowing what the fall will look like, some are debating if they will return to New York at all, which could open up an unprecedented number of spots at even the most elite institutions, according to Emily Glickman, president
Dean Mitchell You don’t know where to start. You hardly have any money. You don’t know the financial terms. Lots of conditions may stop non-investors from becoming investors, says Bola Sokunbi, a financial education instructor and author of Clever Girl Finance. The intimidation people feel is real, and Sokunbi thinks it stems from a financial
The stock market is doing pretty well amid the coronavirus recession. You probably won’t benefit. MicroStockHub The stock market has proved freakishly immune to the economic suffering inflicted by the coronavirus pandemic, posting some of its largest gains in history even as members in 1 in 2 American households have lost income. Yet the fact that the market
Matt Marfoglia, a waiter at the Tasting Kitchen in Los Angeles, was furloughed in March. Enhanced unemployment benefits are helping him make ends meet financially, but they may end after July. Matt Marfoglia Matt Marfoglia was living paycheck to paycheck before the coronavirus pandemic. Now, while unemployed, he’s barely scraping by. The 51-year-old was furloughed
Image Source | Getty Images Many Americans are at risk of not receiving their $1,200 stimulus checks. Now, research estimates that as many as 12 million people could go without the payments due to them. That’s according to the Center on Budget and Policy Priorities, a non-partisan research and policy institute. The center based its
It won’t be long before that blissful reprieve from having to worry about filing taxes comes to a close — July 15 is Tax Day. While the process may be a headache, it doesn’t necessarily have to come with a cost, as well. If you haven’t yet filed your return, it’s worth checking to see
Students at the University of Washington in Seattle on campus for last day of in-person classes on March 6. Karen Ducey The coronavirus pandemic and resulting economic recession have many college students scrambling to reduce costs. Some may opt to go to a state college instead of a private one, or commute rather than live
JGI/Jamie Grill Chances are that the IRS has a check with your name on it — and you still haven’t picked it up. Taxpayers have about a month to file their 2019 income tax returns and pay any taxes owed to Uncle Sam. July 15 became the new Tax Day after the Treasury Department moved
Residents of Milford, Pennsylvania, and surrounding Pike County demonstrate against Governor Tom Wolf and ongoing business closures amid the coronavirus pandemic. Preston Ehrler | SOPA Images | Getty Images Americans who are eager for more help from the government could be waiting awhile. Additional stimulus legislation is coming, Treasury Secretary Steve Mnuchin said this week.
If you think Medicare is free, guess again. Depending on your specific coverage and your use of the health-care system, the amount you pay out-of-pocket could climb well into six-figure territory over the course of your retirement, according to a report from the Employee Benefit Research Institute. “Some are surprised that, after working for decades