Serhii Shleihel | iStock | Getty Images Here’s what you probably shouldn’t do with that extra money now that you don’t have to pay your student loan bill until October: Sink it all into shares of GameStop. But there are financially sound actions you can take with the additional cash, and you’ll likely thank yourself
Personal finance
Digital Vision | Photodisc | Getty Images If you tied the knot last year, it may be worthwhile checking what your new status will mean for your 2020 taxes. While many couples see their tax bill drop post-nuptials, some face a “marriage penalty” — that is, paying more in taxes than if they had remained
Paul Weaver/SOPA Images/LightRocket via Getty Images Investors gawking at hefty returns from GameStop stock may be in for a surprise: a big tax bill. GameStop stock has swelled more than 1,700% since the start of the year through Wednesday’s close. It rallied 130% on Wednesday to almost $348 a share. The video-game retailer’s stock cost
Morsa Images | E+ | Getty Images You know you need to save for retirement. Figuring out how to get started or finding the best plan may leave you befuddled. Yet it is important. By the age of 67, you should have 10 times your final salary set aside, according to Fidelity Investments. Here are
Signage stands in a GameStop Corp. store in Peru, Illinois. Daniel Acker | Bloomberg | Getty Images It’s the stock rally no one quite predicted. In recent years, GameStop, a video game retailer, has been shrinking its retail presence by closing hundreds of stores. Yet this week, its stock popped dramatically. On Wednesday, GameStop shares
President Joe Biden and former President Donald Trump at the U.S. presidential debate Oct. 22, 2020. Kevin Dietsch/UPI/Bloomberg via Getty Images Presidents Joe Biden and Donald Trump were far apart on many issues — tax policy among them. The Biden administration is seeking to dismantle or reverse many aspects of his predecessor’s signature tax law.
Thomas Barwick Women were already less prepared for retirement than men. Then the pandemic hit. The gender gap in retirement savings has long been an issue even among those with adequate investment accounts, and the coronavirus pandemic has made the disparity even worse, according to a survey released Monday from the Nationwide Retirement Institute. Nearly
Frederic J. Brown | AFP | Getty Images What a long year of Covid it’s been. Twelve months after the first case was confirmed in the U.S. in January 2020, American life and family finances continue to look different than they did pre-pandemic. While wealthier households — mostly college-educated and White — have largely rebounded
President Biden delivers remarks before signing a “Made in America” Executive Order at the White House on Jan. 25, 2021. Jim Watson | AFP | Getty Images A new $1.9 trillion plan pushed by President Joe Biden includes a host of initiatives aimed at shoring up Americans’ finances as the Covid-19 pandemic rages on. That
Houston Texans safety Michael Thomas has been nominated for Walter Payton NFL Man of the Year. Source: The Houston Texans Houston Texans safety Michael Thomas may not get a Super Bowl ring this year — but he has long been getting kudos for his work off the field. A champion of social justice and financial
Audrey Saracco / EyeEm If your $600 stimulus payment still hasn’t landed in your bank account, you may be wondering if you can still expect it. According to the most recent guidance from the IRS, the answer is “maybe.” Millions of second stimulus checks have been deployed in recent weeks after Congress approved the payments
FG Trade | Getty Images Tax filing season is swiftly approaching, and many Americans may be able to file their returns for free. About 70% of people filing taxes in the U.S., equal to roughly 100 million Americans, are eligible for a free program through the IRS, according to the agency. Even more may be
Tenants and housing activists in Brooklyn, New York, protested in a Bushwick park on July 5. Erik McGregor | Getty Images A $25 billion federal rental assistance fund will soon be disbursed to states, allowing those struggling amid the pandemic to apply for the money. By one estimate, 14 million Americans are behind on their
Until the coronavirus crisis, nothing had been able to slow the pace of annual college tuition increases. Year after year, college costs edged higher, rising 3% to 5%, on average — outpacing inflation and family income. However, in the midst of the pandemic, schools are under pressure to keep these increases in check. Several institutions said
U.S. President Joe Biden speaks about his administration’s plans to fight the coronavirus disease (COVID-19) pandemic during a COVID-19 response event at the White House in Washington, January 21, 2021. Jonathan Ernst | Reuters Newly elected President Joe Biden has a tall list of priorities in his first days in office, with stemming the pandemic
Nate Wlodarchak, left, and his husband Shawn Wlodarchak. Source: Nate Wlodarchak As Nate Wlodarchak drove people to the polls on Election Day, he couldn’t stop picturing his life without student debt. On the campaign trail, now President Joe Biden had promised to forgive $10,000 of the loans for all borrowers, which would practically reset Wlodarchak’s
Image Source | DigitalVision | Getty Images As President Joe Biden advocates for sending additional stimulus checks to millions of Americans, he is also moving help those who missed out on earlier payments. On Friday, Biden issued an executive order asking the Treasury Department to re-evaluate its delivery structure for stimulus checks to make sure
President Joe Biden signs an executive order after speaking during an event on his administration’s Covid-19 response with U.S. Vice President Kamala Harris, left, in the State Dining Room of the White House in Washington, on Thursday, Jan. 21, 2021. Al Drago | Bloomberg | Getty Images The more than 40 million Americans who rely
President Joe Biden signs an executive order during an event in the State Dining Room of the White House on Jan. 21, 2021. Alex Wong | Getty Images News | Getty Images President Joe Biden ordered federal labor officials on Friday to clarify when unemployed workers can refuse a job offer and continue to collect
Yellow Dog Prod. | Image Bank | Getty Images We witnessed the tale of two markets in 2020. The market experienced a short, steep and frightening freefall. Yet it quickly turned, with stocks finishing the year near all-time highs. This unique experience had a big impact on the psyche of investors and, consequently, how they