LPETTET | iStock | Getty Images About 2.2 million more stimulus checks have gone out over the last six weeks, the government said Wednesday. The latest batch brings the total number of payments disbursed to more than 171 million, with an aggregate value of $400 billion, according to the announcement from the IRS, Treasury Department
Personal finance
FG Trade | E+ | Getty Images Having an emergency fund generally is a good thing. Having too much cash, however, can hold back growing your overall wealth. It’s especially important for younger investors to make sure they’re putting money into the stock market, as they have the most to gain from a long investment
Yulia Petrova | Moment | Getty Images More than two-thirds of federal student loan borrowers say they’re not ready to resume their monthly payments. That’s the finding from a survey conducted for The Pew Charitable Trusts, which comes as the U.S. Department of Education’s payment pause and interest waiver for borrowers is set to expire
Witthaya Prasongsin | Moment | Getty Images “Buying the dip” is an investment thesis often touted by stock traders and financial advisors to juice returns. The thinking is: When a stock index like the S&P 500 falls in value, it’s a good time to buy since shares can be bought at a discount. Investors then
In this article BCH.CB= TSLA Chris Ratcliffe/Bloomberg via Getty Images Bitcoin is falling, again. The popular cryptocurrency slumped as much as 5% Tuesday, falling below the key $30,000 level for the first time since June 22, according to data from CoinMarketCap. Other cryptocurrencies were also dragged lower. Ether slid as much as 6%, while XRP
Sam Edwards | Getty Images When it comes to planning for retirement, it’s important to consider how taxes could gnaw away at your nest egg once you reach your golden years. Assuming you’ve left work earnings behind you, any amount owed to the IRS will come out of your retirement savings or income. So the
In early July, the U.S. Education Department under President Joe Biden canceled nearly $56 million in student loan debt for some 1,800 borrowers, bringing the administration’s total to about $1.5 billion erased. While a win for many borrowers, it isn’t a sign that broad-based student loan debt forgiveness will necessarily come anytime soon, experts say.
The “Charging Bull” statue at Bowling Green in New York’s Financial District. Drew Angerer | Getty Images The U.S. stock market is falling, again. On Monday, all three major U.S. indexes slid, led by travel stocks, on fears that a Covid-19 rebound would damage the economic recovery. The Dow fell more than 700 points in
Image Source | Getty Images There’s some good news for those looking to get married on a budget: City and town halls are back in the nuptials business. Wedding bells will be ringing again, for example, at the New York City Marriage Bureau. Mayor Bill de Blasio announced Thursday that the city will again book
Alistair Berg | DigitalVision | Getty Images If you’re among the workers who plan to continue working remotely, you may want to evaluate your 2021 tax situation. While many states offered a pandemic-related reprieve that generally resulted in no tax filing obligation for remote workers who worked temporarily in their state, the leniency was for
RyanJLane | E+ | Getty Images The pandemic sparked charitable giving among wealthy families, and some who are eager to give more may score a bigger 2021 write-off by leveraging money from pretax retirement accounts. Here’s how it works: Certain retirees with excess pretax retirement savings — meaning they’ve saved more than they expect they’ll
Alexi Rosenfeld | Getty Images Sasha Demskie received a welcome deposit in her bank account this week: a $250 payment from the government as part of the new monthly child tax credit payments. The money will go to pay basic bills, said Demskie, 46, of Conway, Arkansas, who lost her job in April while she
bymuratdeniz | iStock | Getty Images Intuit, the company behind popular tax filing software TurboTax, announced that it will no longer participate in the IRS Free File program, which helps millions of Americans submit tax returns at no cost. “With the Free File program surpassing its founding goals of e-file and free tax preparation, and
An executive chef interviews a job seeker about hospitality employment during a job fair on June 23, 2021 in Torrance, California. PATRICK T. FALLON | AFP | Getty Images The rapidly spreading delta variant of Covid-19 may be reason for Congress to extend federal unemployment benefits past their expiration in early September, according to some
In this article SCHW MoMo Productions | Taxi | Getty Images When it comes to building wealth, many Black Americans are facing an uphill battle. The median annual wage for Black workers is about 30% lower than that of white workers, according to a McKinsey & Company report. The report also found that 3.5 million
Senate Majority Leader Chuck Schumer, D-N.Y., and President Joe Biden arrive at the U.S. Capitol for a Senate Democratic luncheon on July 14, 2021. Drew Angerer | Getty Images News | Getty Images Senate Democrats aim to fund a $3.5 trillion budget measure partly on the backs of higher taxes for corporations and the wealthy,
Scott Olson | Getty Images Inflation surged more in June than it has in more than 10 years, and the news has investors worried. That’s because rising prices can erode a portfolio’s profit. Most simply, as the cost of living swells, your returns don’t go as far. That’s a particularly tough challenge for retirees, who
kate_sept2004 | E+ | Getty Images It’s a historic day for U.S. families with children. Roughly $15 billion has been sent to 35.2 million families in the first of six advance child tax credit payments, according to the U.S. Treasury Department and IRS. The average payment in the first round is $423, and will reach
zimmytws | iStock | Getty Images The Social Security cost-of-living adjustment for 2022 could be 6.1% due to inflation, according to a new estimate. That would be the biggest increase since 1983, according to non-partisan advocacy group The Senior Citizens League, which calculated the figure. It’s also a bump up from last month’s estimate, when
Westend61 | Westend61 | Getty Images Medicare — the health insurance program relied on by most older Americans — would cover dental, vision and hearing under a budget agreement announced late Tuesday by Senate Democrats. The proposal for expanded coverage was included as part of a plan to spend $3.5 trillion over the next decade