Zoom In Icon Arrows pointing outwards Rising consumer costs have helped push the latest estimate for next year’s Social Security cost-of-living adjustment to 5.3%. Whether that will actually be the bump retirees see to their monthly checks in 2022 depends a lot on the economy, including whether the Federal Reserve decides to raise interest rates.
The American Rescue Plan expanded the Child Tax Credit (or CTC) to $3,000 per qualifying child between the ages of 6 and 17 or under (thus expanding eligibility for an additional year) and further increased the credit to $3,600 per qualifying child under age 6 for tax year 2021 only (and income thresholds apply). The
Amazon announced a commitment today of $300 million from its Housing Equity Fund to create more than 3,000 new affordable homes near public transit for families in the Puget Sound, Washington; Arlington, Virginia; and Nashville regions. This new commitment is part of the Seattle-based tech giant’s Housing Equity Fund, a more than $2 billion commitment
SINGAPORE — Singapore’s Finance Minister Lawrence Wong said “open and free” air travel in Asia remains unlikely in the near term as parts of the region battle with an increase in Covid-19 infections. “I am somewhat less sanguine about the prospects for air travel,” Wong told Martin Soong as part of the virtual CNBC Evolve
Antony Jenkins, founder of 10x Future Technologies and former CEO of Barclays. Chris Ratcliffe | Bloomberg | Getty Images LONDON — The financial technology venture of former Barclays CEO Antony Jenkins has raised £132.5 million ($186.6 million) from investors in a bid to expand into North America. 10x Future Technologies was founded by Jenkins in
MacKenzie Scott knows that by virtue of being one of the richest people alive, she can command attention. She also doesn’t believe wealth should be a reason for attention. So the former wife of Amazon boss Jeff Bezos is using her megaphone to dismantle the system that has put her on a pedestal. It’s tricky
A conceptual rendering of the two ESCAPADE spacecraft in orbit around Mars. Rocket Lab Rocket Lab, which is nearing the close of its SPAC deal to go public, on Tuesday announced it won an early contract that may send two of its Photon spacecraft on a mission to Mars in 2024. NASA, under its Small
maybefalse | E+ | Getty Images You probably can come up with many things you’d rather do than spend time planning for your own death. However, there’s part of creating an estate plan that experts say deserves thoughtful consideration: choosing the individuals who will carry out the wishes in your will and who will make
Today’s column addresses questions about spousal benefit amounts when both spouses file at 62, taking retroactive retirement benefits before larger spousal benefits and when divorced spousal benefits might be available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize My Social
In the past year, home prices rose 10 percent in Tampa, 12 percent in Salt Lake City and 18 percent in Boise. That’s not supposed to happen during a recession. In the first year of the previous recession – in 2008 – the only big market with a gain in prices was Houston, where they
Oil prices rose on Tuesday, setting up a challenging situation for the head of the Federal Reserve before Wednesday’s meeting, CNBC’s Jim Cramer said. “The surging price of crude … makes life difficult for Fed Chief Jay Powell,” Cramer said on “Mad Money.” “Even as many other commodities have actually now fallen, and some falling
In this article ORCL Safra Catz, co-chief executive officer of Oracle Corp. David Paul Morris | Bloomberg | Getty Images Oracle shares fell 3% in extended trading on Tuesday, even though the enterprise software maker issued earnings that came in better than analysts had expected and showed accelerated revenue growth as the pandemic receded. Here’s
In this article MSTR MicroStrategy CEO Michael Saylor told CNBC on Tuesday he sees a bright future for a range of cryptocurrencies, not just bitcoin. Saylor, one of the most vocal bitcoin proponents, has over the past year raised the profile of his enterprise software company by investing heavily in the world’s largest cryptocurrency by
Former Theranos CEO Elizabeth Holmes (center) and her counsel exit court on June 15, 2021. Holmes is scheduled to face trial for wire fraud and other charges later in the year. CNBC Former Theranos CEO Elizabeth Holmes, got permission on Tuesday to nurse her newborn child during breaks in her upcoming criminal fraud trial. Judge
Hunter Horsley, CEO of Bitwise Asset Management and executives celebrate the launch of an ETF at the New York Stock Exchange, June 1, 2021. Source: NYSE Henry Kravis, Stanley Druckenmiller and Bridgewater CEO David McCormick have invested in Bitwise Asset Management’s Series B funding. The cryptocurrency index fund manager raised $70 million from a handful
Ariel Skelley | DigitalVision | Getty Many consider 529 college savings plans to be for education, but these accounts also offer a flexible way to transfer wealth. There’s currently an estate tax exemption of $11.7 million per person. Although President Joe Biden campaigned on slashing the write-off to $3.5 million, it hasn’t been part of
Zoom In Icon Arrows pointing outwards For months, renter Sabrina Floyd waited with to hear if she and her family were approved for help from the Clark County rental assistance program in Las Vegas. She’d often ask her caseworker for updates, and would get the same reply: “Thank you for your continued patience during these
Most of us seem to have a general realization that elder abuse happens but few really understand it until it happens to your own loved one. It’s shocking. The most common abusers in our country are the elder’s own family members. Caregivers are next in frequency, followed by professionals, such as financial managers. Is there
As recent letters to taxpayers who might be eligible for the advance child tax credit indicated would happen, the IRS is in the midst of launching online portals to help families navigate the advance credit for 2021. This is the next big step in implementing the expanded benefit before monthly distributions of the advance credit begin in
Malibu’s market madness from a year ago has continued at the same frenetic pace, setting the stage for a hot summer market that shows no signs of cooling down. Among the hottest spots in town? Malibu Colony, an exclusive guard-gated community of about 76 beach-side homes where there’s a chance your neighbor is an A-list