Daniel Grill | Tetra Images | Getty Images The odds of slipping into a recession are increasingly likely as the global coronavirus outbreak puts acute stress on the U.S. economy. That could be bad news for American workers, who may lose jobs by the millions in a downturn. For those workers who don’t receive severance
Personal finance
My husband died after a short illness 13 years ago. I was brokenhearted, and my anguish seemed endless. However, I slowly emerged from my “stage 1” deep grief/numb phase of widowhood. I entered “stage 2” of widowhood — growth — when it’s time to take care of business, including money matters. The fog lifts and
Toilet paper shelves lay empty at a supermarket in Saugus, Massachusetts on March 13, 2020. Joseph Prezioso | AFP | Getty Images It’s not all in your mind. The growing panic over coronavirus is real, and fear is a rational response. What’s not a foregone conclusion is your own reaction. When markets tank, some people
Many international students are not able to come to the U.S. and that could cause a significant disruption in our college system. For years, there has been a major influx of students studying in this country, particularly from China. In fact, one-third of all the international students in the U.S. come from China — more
If the new coronavirus interferes with your already-planned trip, don’t count on your travel insurance to provide much help. Unless you have “cancel for any reason” coverage, you might be out of luck. While some insurers have loosened their restrictions, fear of contracting the new coronavirus, or COVID-19, is not covered under a standard policy,
Hero Images | Getty Images This week’s market activity probably wasn’t the shot of confidence you were hoping for if you’re retired or planning to retire soon. And your first instinct is probably to protect your retirement income. Yet experts caution that the worst way to do that is to take dramatic actions with your
DenisTangneyJr Students at Georgetown College in Kentucky received a one-two punch of bad news this week. Amid the coronavirus, classes would be moved online until at least April and most students would need to vacate their dorms. Oh, and they shouldn’t expect a refund. “[T]he college is not in a financial position to offer any rebates
Democratic presidential candidate former Vice President Joe Biden reacts while giving a speech during a campaign event at Tougaloo College on March 08, 2020 in Tougaloo, Mississippi. Jonathan Bachman | Getty Images Former vice president Joe Biden’s $4 trillion tax plan would raises taxes on higher income households both in life and at death, according
Treasury Secretary Steven Mnuchin speaks with reporters outside White House in Washington, DC, on March 13, 2020. Jim Watson | AFP | Getty Images Treasury Secretary Steven Mnuchin said Friday that the Trump administration would consider suspending people’s student loan payments as part of a larger strategy to mitigate the economic consequences of the coronavirus. “I can
Daniel Trumbower was working from home in Monrovia, Maryland, in early February when his wife called: A tornado warning had been issued for their town. Initially dubious — a tornado in Monrovia? Yeah, right — he looked outside to check the sky and saw a large, heavy-duty garbage can soaring through the air. He ran
Countries around the world are scrambling to rein in the coronavirus and understand its ultimate medical and economic impacts. One prominent business school is using the turmoil as a learning opportunity. The Wharton School at the University of Pennsylvania will soon begin offering a new course about the coronavirus — the disease that’s infected nearly 128,000
Thanagon Karaket / EyeEm | EyeEm | Getty Images As the stock market sinks, you’ve probably already heard not to check your 401(k). Yet when it comes to steering your personal financial plan in a turbulent time, it’s still wise to take a proactive approach, according to Michael Liersch, a behavioral finance expert and global
Luis Alvarez Investing is a young person’s game. I mean, I can understand the argument for ignoring short-term market dives when it’ll be decades before you need to actually touch the money. But what about retirees who need income today? Should retirees and near-retirees be cashing out of stocks on fears that a worldwide pandemic
US Treasury Secretary Steven Mnuchin arrives to testify during a House Ways and Means Committee hearing about the Fiscal Year 2021 budget request on Capitol Hill in Washington, DC, March 3, 2020. Saul Loeb | AFP | Getty Images If coronavirus is keeping you from filing your tax return in a timely fashion, it just
Hero Images | Hero Images | Getty Images A payroll tax cut is one idea President Donald Trump is considering in response to the negative effects of coronavirus on the U.S. economy. Experts say such a move would not necessarily be a magic bullet. One reason why: It could impair funding to Medicare and Social
As a personal finance reporter at CNBC, when the stock market drops, as it has from the coronavirus outbreak, I write stories reminding our readers to remain focused on their long-term goals and to resist panic. Beneath that advice, however, I usually have a nagging feeling – a wish that I was more worried by the latest
Ngampol Thongsai / EyeEm Americans’ health may not be the only thing at stake as the coronavirus continues its unrelenting spread in the U.S. The virus could also prove financially crippling for many individuals. “There are all kinds of pathways for people to be financially affected by this,” said John Graves, an associate professor of
Moyo Studio | E+ | Getty Images This week’s markets may be giving some investors flashbacks to 2008, when stocks hit a turbulent stretch and the financial crisis began. However, fearful investors should take heart: The factors at play in this market are very different than they were then, executives from Merrill Lynch Wealth Management
As the stock market cratered again due to crashing oil prices and coronavirus fears, many investors grappled with pulling money out of equities and stock funds and moving it to safer investments, including bond funds, money market accounts — and cash. It’s been an ongoing quandary as investors were already skittish after a roller-coaster first
Jim McGuire | Getty Images As the market hits the skids, experts are warning that you shouldn’t make rash moves with your portfolio. And that includes one retirement income source you might turn to for safety: your Social Security benefits. A recent survey from SimplyWise, a retirement income technology provider, found that 1 in 4