AJ_Watt | E+ | Getty Images There are a lot of “firsts” for new parents — and measures to shore up household finances are among them. Expenses for a new baby are often higher than parents expect, according to financial advisors. The average middle-income married couple spends $12,350 to $13,900 a year to raise a
fizkes | iStock | Getty Images For Medicare beneficiaries who want to join an Advantage Plan, now is the time to do it. Just be sure you know what the plan covers and what your potential costs will be — and how long you have to change your mind. During the annual fall open enrollment
When there is no stated intent regarding a specific Tax Cuts and Jobs Act provision, its general intent to reduce taxes and stimulate the economy should usually prevail. It is undeniable that former President Trump’s budget was largely realized through the TCJA’s successful passage — and that it was designed to reduce taxes and other taxpayer costs, including those related to
Take a look at some of the biggest movers in the premarket: Zillow (Z) – Zillow slid 6.4% in premarket trading, following a Bloomberg report that the company has temporarily stopped its home-buying service due to overwhelming demand. Revance Therapeutics (RVNC) – Revance shares plunged 33.2% in the premarket after the Food and Drug Administration
In this article MORN BraunS | E+ | Getty Images Many Hispanic Americans aren’t saving enough — or at all — for retirement. More than two-third of Hispanic households aren’t putting aside anything through workplace savings vehicles such as 401(k) plans, a Morningstar report found. Private retirement plans like individual retirement accounts aren’t filling the
Aerial view of coal being unloaded from a cargo ship at Lianyungang port on Oct. 14, 2021 in Lianyungang, Jiangsu Province of China. Wang Jianmin | Visual China Group | Getty Images BEIJING — China’s third-quarter GDP grew a disappointing 4.9% as industrial activity rose less than expected in September. The National Bureau of Statistics
Don Bayley | Vetta | Getty Images This week’s announcement of the highest Social Security cost-of-living adjustment since 1982 was welcome news for retirees. It will help alleviate the financial pinch many are feeling. Beneficiaries in 2022 will receive a 5.9% boost to their checks. That’s up from a 1.3% benefit increase for 2021. Even
Today’s column addresses questions about cost of living increases for spousal benefits’ effects on later COLAs for retirement benefits, taking retirement benefits before survivor’s benefits and Social Security options with no saving and health concerns. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc.
Home-price gains in 2021 are on pace to smash last year’s all-time high after record-low mortgage rates fueled bidding wars across the U.S., Fannie Mae said in a forecast on Friday. Home prices probably will surge 17% this year, beating the record gain of 11% set in 2020 that surpassed the prior peak of 10%
Megan Leonhardt | CNBC As third-quarter earnings roll out and 2021 winds down, analysts and investors are looking for which companies can close out the year on a bullish note. Many firms had stellar starts to the year, and are in a tough spot to continue growing at such rapid paces. Costco braved the
VALERIE MACON | AFP | Getty Images People who collect Social Security are about to see bigger checks. The cost-of-living adjustment in 2022 will be 5.9%, the Social Security Administration said Wednesday. The bump, which will help beneficiaries keep up with rising costs due to inflation, is the largest increase in about 40 years. The
Geber86 | E+ | Getty Images It happens to the best of us — after setting a budget, somehow spending goes off the rails. “It’s so easy to do,” said certified financial planner Diahann Lassus, managing principal at Peapack Private Wealth Management, based in New Providence, New Jersey. The coronavirus pandemic, economic recession and subsequent recovery
By Chris Farrell, Next Avenue The numbers are worrisome. The typical 54- to 64-year-old with a 401(k) or IRA owns a median portfolio worth about $135,000 and more than a quarter of workers don’t have retirement savings accounts (mainly because their employer doesn’t offer one). Is it any surprise older Americans worry their quality of life
Rapper and fashion mogul Kanye West is selling his 3,888-acre ranch in Cody, Wyoming for $11 million, almost exactly two years after he first purchased it. In 2019, West purchased the property, formerly called Monster Lake Ranch, and had plans to build a massive home and two underground garages on the property. It seems those
In this article M People wear facemasks as they walk through Herald Square on January 8, 2021 in New York City. Angela Weiss | AFP | Getty Images Activist investor Jana Partners has taken a stake in Macy’s and sent a letter to the department store chain’s board on Wednesday urging it to separate its
In this article BTC.CM= Bitcoin on display. Chesnot | Getty Images Bitcoin climbed Friday to hit a five-month high, and was inches away from hitting $60,000. The world’s biggest cryptocurrency surged as high as $59,920, notching its highest level since May. 10. But it struggled to break above the $60,000 mark. Bitcoin was last trading
Are MBAs worth it? It depends on many factors, like whether you have the money, time and willingness to commit. In 2015, I enrolled in The University of Florida’s online MBA program, all while working a full-time job in finance. The degree cost me $60,000 and took two years to complete, but it gave me
designer491 | iStock | Getty Images Retirement savers could start seeing annuities in their 401(k) plans. While allowing them in workplace retirement savings plans is not new, the 2019 Secure Act aimed to eliminate companies’ fear of legal liability if the annuity provider were to fail or otherwise not meet its obligations. Now, insurance companies,
Over the last several days, we’ve seen the Outrage Machine in action over a new Treasury proposal to require banks to report to the IRS new information on U.S. bank accounts, in addition to the existing reporting of interest payments. This proposal, as described at CBS News (among, of course, many other sites) would require
At 18, Chris Morrison purchased his first home in Phoenix, Arizona. That was the kick-off to the RETSY’S founding partner’s passion for residential real estate and a most successful career in sales. Morris had discovered by accident he loved real estate. “I was at Arizona State University and working at a golf shop when I bought