Personal finance

Jim McGuire | Getty Images A new proposal in Congress aims to resurrect an old tradition: mailing Social Security statements to your home. Since 2011, the Social Security Administration has cut back on the number of paper statements it puts in the mail in order to save money. A new bill, called the Know Your

Jordan Siemens | Getty Images When Tara Unverzagt started her own financial planning firm, South Bay Financial Partners, in 2014, she already had a head start. That’s because Unverzagt’s mother, Janet Tussing — one of the first female certified financial planners — was retiring and passed along her book of business. Those clients ranged from

The final few weeks of the year aren’t just for last-minute shopping and holiday parties. It’s also a crucial time for tax savings. While the 2017 tax overhaul did put a whole new spin on year-end planning, it did not eliminate the need to do it altogether. In fact, from making an 11th-hour charitable donation

Allison Shelley | Getty Images News | Getty Images When it comes to Social Security, the question on most people’s lips is: “Will it still be there for me when I retire?” The answer is generally yes. But the system will pay less in benefits if nothing is done to repair it. In April, the

College is a significant investment that comes with the hope of a better, richer life. It doesn’t always work out that way. Some experts say the value of a bachelor’s degree is fading. Starting salaries for new college graduates have grown less than 1% over the past two years, remaining at around $50,000. Worse yet:

Hero Images | Getty Images Add to your end-of-year to-do list: check your health flexible spending account. These accounts help you save money on some health-care costs, because you pay for them with pretax dollars, yet not everyone uses them. According to the Bureau of Labor Statistics, 39% of workers in 2015 had access to

RubberBall Productions | Brand X Pictures | Getty Images At 2 a.m. on Oct. 17, Helen Ramos tried to wake up her son, Michael Bowen. Something about the 37-year-old looked strange. Ramos, 65, uses a wheelchair, and running errands can be a struggle. The day before, Bowen had gone grocery shopping for her. Later, Ramos

CNBC | Jaden Urbi Outstanding education debt has outpaced credit card and auto debt. The average college graduate leaves school $30,000 in the red today, up from $10,000 in the 1990s. Nearly 40% of students who took out loans in 2004 will default on their debt by 2023, according to the Education Department’s own figures

More than a quarter-billion dollars is up for grabs in the next Mega Millions drawing. After 10 weeks with no one hitting all six numbers, the jackpot has climbed to $285 million for Friday night’s drawing. And while the odds are stacked against a jackpot win — your chance is 1 in about 302 million

The arrival of a new baby can be one of the most joyous occasions in life. It also should be a time of careful planning for the little one’s arrival, everything from picking out baby clothes to furnishing their nursery and planning for longer-term needs — such as health care, child care, and education. According

JGI/Jamie Grill | Tetra images | Getty Images Make 2020 the year you nail your taxes: The IRS has released the final version of its new tax withholding form. The new Form W-4 goes into effect for 2020. Employees use it to tailor the amount of income tax that’s withheld from their paychecks. The document

Before the calendar flips to 2020, you might want to see if there are some moves you can make to take advantage of the tax breaks for medical expenses. Experts say it’s worth exploring, as the cost of health care continues its upward climb. The U.S. spent about $3.5 trillion on health care in 2017,

Ah, the joys of new marital bliss. Now … about those tax returns. If you tied the knot this year (or plan to this month), it’s worthwhile evaluating what getting married will mean for your 2019 tax situation. While many couples will see their taxes drop, some will face a “marriage penalty” — paying more

Customers pay at a cashier station in a JCpenney Store at the Newport Mall in Jersey City, New Jersey. Kena Betancur | Getty Images Going big on those holiday purchases will cost you — especially if you’re in New Mexico. Residents in the Land of Enchantment take 17 months to pay off an average credit

Caiaimage/Paul Bradbury | Caiaimage | Getty Images You’ve got your holiday shopping list made and you’re checking it twice. But are you getting the right gifts for the right people? And what should you do if you are strapped for cash? Following some simple gift-giving rules can help you easily navigate the holiday season. They

Investment expert Mellody Hobson is the epitome of the American Dream. The youngest of six kids, she was raised by a single mother. “We had a lot to overcome financially when I was a child,” she said in a recent interview with CNBC’s Wilfred Frost. Her childhood included frequent evictions from their homes in Chicago

Sam Bassett | Iconica | Getty Images If you’re sitting on a few million dollars and you want to save on taxes, consider giving some of it away. The Tax Cuts and Jobs Act roughly doubled the amount an individual can transfer to others without being subject to the 40% gift and estate tax. In

Peloton holiday ad. YouTube If you cover your eyes on Christmas morning, are you expecting to open them up and see a Peloton? If you haven’t already heard, that’s the premise of a new holiday commercial from the home fitness company. And it’s attracting some criticism on social media. That’s in part because the ad

Charitable donations generally kick into high gear on “Giving Tuesday,” a single day specifically focused on charity in the shopping-heavy week after Thanksgiving. Since its start, the #GivingTuesday effort has raised more than $1 billion online in the U.S. alone. And yet, the new tax law has taken its toll. In terms of total dollars,

Hero Images | Hero Images | Getty Images It pays to be smart this Cyber Monday. While there are steps to take to make sure you are getting the best deals, there are also potential traps you can fall into. “Having a strategy for Cyber Monday is imperative, especially if you’re looking to save money,”