Personal finance

NYPD officers in riot gear enter Columbia University’s encampment as they evict a building that had been barricaded by pro-Palestinian student protesters in Los Angeles, United States on April 30, 2024.  Shay Horse | Nurphoto | Getty Images Some college students protesting Israel’s war in Gaza have faced disciplinary action in recent weeks, with universities

Laylabird | E+ | Getty Images Inherited individual retirement accounts can be a financial boost for heirs, but the windfall can trigger tax issues, experts say. Withdrawals from pretax inherited IRAs incur regular income taxes. Since 2020, certain heirs can no longer “stretch” retirement account distributions over their lifetime to reduce yearly taxes. Now, certain

People leave a Social Security Administration building in Burbank, California.  Valerie Macon | Afp | Getty Images The trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected, according to the annual trustees’ report released on Monday. At the projected

Spending more to save more is an all-too common pitfall. The opportunities for so-called “spaving” are nearly everywhere, whether it’s the lure of a “limited-time deal” or “buy one, get one free” or tacking on additional items to get a bigger discount or simply to reach the free shipping threshold. But spending to save can lead

Rebekah Alstede Modery, left, and Sarah Alstede, sisters and co-owners of Alstede Farms in Chester, New Jersey. Courtesy: Alstede Farms Sisters Rebekah Alstede Modery and Sarah Alstede were raised on a New Jersey farm. This year, they decided to spend their careers there, too. Rebekah graduated in 2023 with a double major in agricultural business

The US Department of Education sign hangs over the entrance to the federal building housing the agency’s headquarters on February 9, 2024, in Washington, DC.  J. David Ake | Getty Images If your current federal student loan servicer is Mohela, or the Missouri Higher Education Loan Authority, the U.S. Department of Education said it will

Prasit photo | Moment | Getty Images As employers compete to attract and retain talent, equity compensation — or an ownership stake in the company — has become a key workplace benefit. Some 72% of companies offer some form of equity compensation to certain employees, a 2023 survey from Morgan Stanley found. That’s up from

JGI/Jamie Grill If you’ve opted into your employer’s matching 401(k) Roth contributions this year, it could trigger a tax surprise without proper planning, experts say.  Enacted in 2022, Secure 2.0 ushered in sweeping changes for retirement savers, including the option for employers to offer 401(k) matches in Roth accounts. These accounts are after-tax, meaning employees

Teacher teaching her students in art class at school. Fg Trade | E+ | Getty Images The popular Public Service Loan Forgiveness program began a partial processing pause on May 1, which will likely run through July, the U.S. Department of Education recently said. The temporary suspension comes as the Biden administration overhauls the once-troubled

In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Nebraska, on May 5, 2019. Nati Harnik | AP Warren Buffett is widely praised for his investment acumen. But one of the biggest

The Federal Reserve held rates steady Wednesday — again deciding not to cut — which means anyone who carries a balance on their credit card isn’t getting a break from sky-high interest charges. “It is becoming clearer and clearer that the Fed isn’t going to lower interest rates anytime soon,” said Matt Schulz, chief credit

Internal Revenue Commissioner Danny Werfel speaks during his swearing in ceremony at the IRS in Washington, D.C., on April 4, 2023. Bonnie Cash | Getty Images News | Getty Images The IRS has released an update on its strategic operating plan, which outlines “major accomplishments” in taxpayer service, technology and enforcement since its infusion of

A general view of the atmosphere during The Art Institute of Atlanta commencement ceremony at Riverside EpiCenter on June 17, 2022 in Austell, Georgia.  Marcus Ingram | Getty Images The Biden administration on Wednesday announced that it would forgive more than $6.1 billion in student debt for 317,000 former students of The Art Institutes, the

The Federal Reserve announced Wednesday it will leave interest rates unchanged as inflation continues to prove stickier than expected. However, the move also dashes hopes that the Fed will be able to start cutting rates soon and relieve consumers from sky-high borrowing costs. The market is now pricing in one rate cut later in the year, according to the CME’s

Ascentxmedia | E+ | Getty Images Many people claim Social Security retirement benefits at the earliest possible claiming age of 62. But that decision prompts their monthly benefits to be reduced for the rest of their lives. Working with a financial advisor should help encourage prospective beneficiaries to understand the value of delaying their benefit

In this article Follow your favorite stocksCREATE FREE ACCOUNT Ryersonclark | E+ | Getty Images Making your home hurricane resistant can be a significant financial undertaking. But it’s one that has the potential to pay off as such storms become more intense amid climate change. In 2024, the national average cost to upgrade an entire

urbazon Some student loan borrowers have until the end of Tuesday to take advantage of an opportunity to get their debt forgiven sooner than they would have otherwise. Borrowers with multiple student loans who request a so-called loan consolidation the end of the day on April 30 — a move that will combine their federal

Jamie Grill | The Image Bank | Getty Images Higher interest rates may be here to stay for a while longer, thanks to persistent inflation. That’s good news for cash savers, who have the best opportunity to earn returns on their money in 15 years. What’s more, prospective yields on those investments — whether through

Jitalia17 | E+ | Getty Images Series I bonds will pay 4.28% annual interest from May 1 through October 2024, the U.S. Department of the Treasury announced Tuesday. Linked to inflation, the latest I bond rate is down from the 5.27% annual rate offered since November and slightly lower than the 4.3% from May 2023.

Aire Images | Moment | Getty Images Most Americans consider money to be a private topic, and women are among those most reluctant to engage in financial conversations. But not asking the questions they need help with can hold them back financially, experts say. One women-focused nonprofit has launched a new way to help them