Personal finance

Ariel Skelley  The cost of investing in your 401(k) plan at work is hitting new lows. Too bad hidden fees can chomp away at your savings. Generally, it’s cheaper to invest in your retirement plan at work, versus going out on your own to shop for mutual funds. For example, the average expense ratio for

Getty Images Working parents are feeling the sting of the coronavirus pandemic — and it’s hitting women especially hard. School shutdowns have left many trying to juggle work, childcare and helping their kids with distant learning. Since the crisis began,  40% of working parents have had to change their employment situation, according to a new

The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero for as long as it takes to help the economy bounce back from the coronavirus crisis. The Fed said the ongoing coronavirus pandemic will “weigh heavily” on the near-term outlook and poses “considerable risks” for the medium term. In addition to holding rates near rock bottom, the

Westend61 | Westend61 | Getty Images Retirement often seems like a far-off destination. But once you hit your 40s, it’s no longer the distant country you once thought it was. On the plus side, you still have time to make some smart money moves with retirement savings. On the minus side, saving what you’ll need

Those with private student loans find themselves in a difficult situation during the pandemic. fizkes | iStock | Getty Images The U.S. Department of Education has said that people with federally held student loans don’t need to resume making payments until 2021. For the millions of Americans with private student loans, the bills are still

Hundreds of jobless people wait outside the Kentucky Career Center for help with their unemployment claims on June 19 in Frankfort, Kentucky. John Sommers II/Getty Images Americans who are hoping for more financial assistance may have to wait until after the November election before Congress can strike a deal. Yet experts say continued financial assistance

There’s still about one month to go before the Social Security Administration announces its cost-of-living adjustment to benefits for 2021. And seniors who rely on those monthly checks in retirement might be in for disappointment, based on recent data. New estimates indicate the Social Security COLA for 2021 could be about 1.3%, which is among

KLH49 | E+ | Getty Images States paying the $300 unemployment boost The 19 states represent about a third of the 49 states that applied to the federal government for the aid. Those states are: Alabama, Arizona, Arkansas, California, Florida, Idaho, Iowa, Louisiana, Massachusetts, Minnesota, Missouri, Montana, New Hampshire, New Mexico, North Carolina, Rhode Island,

Rhode Island Gov. Gina Raimondo. Barry Chin/The Boston Globe via Getty Images Minimum benefits Most states set a minimum unemployment benefit below $100 a week, which creates the conundrum for some workers. Rhode Island, for example, pays a minimum benefit of $53 per week. Gov. Gina Raimondo, a Democrat, signed an executive order temporarily raising

kali9 | E+ | Getty Images When it comes to retirement savings, most people think it’s mainly a matter of building up healthy account balances through their working years. But spending down that money safely once you’ve left the workforce is just as big a concern. In fact, more Americans worry about running out of

Hero Images | Hero Images | Getty Images Retirees with a heavy reliance on U.S. Treasury bonds for income may want to rethink their investment strategy. With yields on Treasurys at historically low levels, these stalwart income-producers may be doing less for you than you intend. While they still provide the safety you might seek,

When I drove my son to school for the first time since March, I was overcome with gratitude for the faculty and staff who have worked countless hours preparing to bring students back to the classroom safely. As a mother, sending my child to school in-person this fall felt like the greatest gift — even

Kathrin Ziegler | Stone | Getty Images Life gets a bit more complicated when you’re in your 30s. You may get married, have children or buy a house. You may also still be carrying student debt. On top of it all, you are supposed to be putting money aside for retirement. “Retirement is going to

Stephen Maturen | Getty Images Recent stock market highs and lows have investors already bracing themselves for one more looming uncertainty: the presidential election.     If you’re like most investors, you’re already anticipating that the outcome of this year’s race for the White House will have an impact on your money. The vast majority of

House Speaker Nancy Pelosi, D-Calif., holds her weekly press briefing on Capitol Hill on Aug. 13, 2020. Jim Watson | AFP | Getty Images The U.S. House of Representatives won’t be rolling out the payroll tax deferral to its employees. Sept. 1 was the first day of President Donald Trump’s order deferring the 6.2% employees pay

Drew Angerer | Getty Images News | Getty Images Most unemployed workers will get up to $1,800 in extra jobless benefits through the Lost Wages Assistance program created last month by the Trump administration. The program pays a $300-a-week federal subsidy on top of the unemployment benefits workers currently receive. It follows the lapse of

Events and entertainment workers protest unemployment on Aug. 19 in Las Vegas. BRIDGET BENNETT/AFP via Getty Images) It’s a hard time to try to plan your finances. Unemployment benefits and another round of stimulus checks are up in the air. Evictions are banned, but only temporarily.  Much of the uncertainty is due to the fact

Maybe you know a “super saver.” It’s the person who somehow manages to follow a budget, has emergency savings and puts away a ton for retirement. Although this type of financial discipline may be enviable, it can also mean making some sacrifices, based on the findings in a recent report from Principal Financial Group.  These

Eric Smith and his sons, Kyree, 6, (left) and Corey, 8, (right). Source: Eric Smith When the Centers for Disease Control and Prevention announced last month that most evictions nationwide were banned until the end of December, it came as little relief to Eric Smith. All the single father can think about now is what will

Getty Images Penalties are about to get way steeper for taxpayers who still haven’t filed a 2019 income tax return and owe the IRS a balance. July 15 was the deadline to submit your return and pay any taxes owed, as the Treasury Department pushed back the due date in light of the coronavirus pandemic.