Personal finance

cdwheatley | E+ | Getty Images Millions of Americans have altered their travel plans amid the pandemic, with some switching to road trips this summer and others postponing long-haul air and sea travel till next year or beyond. But one demographic — the affluent vacationer — appears to be more optimistic, making plans and holding

Getty Images When a person passes away, it’s not unusual for them to leave behind some unpaid debt. So what happens to those remaining balances? It depends.  Upon death, a person’s assets — no matter how meager or massive — become their “estate.” This includes everything they own: financial accounts, real estate and possessions. And,

Couple buying a new house. PeopleImages | Getty Images A Roth individual retirement account is often cited as a way to save for your golden years. It could  also help you buy a house. In a nutshell, up to $10,000 in earnings can be withdrawn from such an account — free of both taxes and

Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims. John Sommers II Individuals receiving unemployment benefits this year could face a tax surprise in 2021: owing Uncle Sam or receiving smaller refunds. Some 1.43 million people filed for unemployment last week, according to the

U.S. Senate Majority Leader Mitch McConnell (R-KY) arrives as Senate Republicans hold their weekly policy lunch on Capitol Hill in Washington, June 16, 2020. Jonathan Ernst | Reuters The $600 boost in weekly unemployment checks ends Friday. With negotiations between Democrats and Republicans at an impasse, millions relying on that aid are in the dark

Protesters gather at a July 22 rally in Boston in support of legislation to block evictions in Massachusetts for up to a year. Boston Globe | Boston Globe | Getty Images If you’re facing eviction during the pandemic, you’re definitely not alone.  Up to 40 million Americans may lose their homes in this downturn, four times the

For millions of students with disabilities and special needs in U.S. public and private schools, the shift to remote learning has created an even greater host of challenges — and, in some cases, additional financial pressures for their families.  Special needs students require varied educational and support services. In this coronavirus pandemic, many families are

Sen. Marco Rubio, R-Fla., and Sen. Mitt Romney, R-Utah, at a town hall meeting in Aston, Pa., in 2012 when Romney, as governor of Utah, was campaigning for U.S. president. AP Photo/Jae C. Hong A second set of stimulus checks could be on the way, but the ink on the deal hasn’t dried yet. On

U.S. President Donald Trump delivers a speech during a tour of the Double Eagle Energy Oil Rig in Midland, Texas, July 29, 2020. Carlos Barria | Reuters Lawmakers on both sides of the aisle are in agreement on sending a second batch of $1,200 stimulus checks to millions of Americans. And now President Donald Trump

Introduction Creating a financially secure life can feel like a daunting task that requires the skills of expert mapmaker and GPS programmer. You need to figure out where you are today and where you want to get to. As if that’s not a big enough lift, you’re then in charge of finding the best route

People walk past the U.S. Federal Reserve building in Washington D.C., the United States, May 21, 2020. U.S. Federal Reserve Chair Jerome Powell on Thursday said the COVID-19-induced economic downturn has inflicted acute pain across the country, noting that the burden is not evenly spread. Ting Shen | Xinhua via Getty Images Some borrowers benefit

Residents of Imperial County in California wait in a bookkeeping shop in Calexico after filling out unemployment forms on July 24. Photo by Mario Tama/Getty Images Senate Republicans unveiled their plan to replace an extra $600-a-week boost in unemployment benefits on Monday. That subsidy — which the federal government has been paying on top of typical

fstop123 | E+ | Getty Images This summer, more than a dozen states are offering shoppers a back-to-school sales tax break. Whether it’ll be enough to draw legions of parents to mom-and-pop shops amid a pandemic is looking iffy. Depending on the state where you’re shopping, you can knock off anywhere from 4% (Alabama) to

Senate Majority Leader Mitch McConnell, R-Ky. Photo by Stefani Reynolds/Getty Images Republicans have introduced their proposal for the next coronavirus relief package, a $1 trillion plan called the HEALS Act.  Notably absent from their agenda: relief for people with student debt. The plan calls for streamlining the number of repayment options, but wouldn’t extend the

Senate Majority Leader Mitch McConnell, R-Ky., leaves the Senate Republican Policy luncheon in Hart Building on Tuesday, July 21, 2020. Tom Williams | CQ-Roll Call, Inc. | Getty Images A second round of $1,200 stimulus checks could be coming, thanks to Senate Republicans’ new stimulus proposal. The terms of the new payments were outlined in

skynesher | E+ | Getty Images You know you need a cash cushion. But the numbers can be daunting. Experts say you need three to six months of living expenses — or even more. If you’re put off by the numbers — how do you save when you can barely make ends meet? — focus

Hispanolistic | E+ | Getty Images Months of economic uncertainty have driven people to turn toward a normally forbidden pot of cash: their retirement savings. The CARES Act, which President Donald Trump signed into law this spring, allows individuals affected by the pandemic to take emergency withdrawals of up to $100,000 from their retirement plans.

Senate Majority Leader Mitch McConnell (R-KY) (L) listens to U.S. President Donald Trump talks to reporters while hosting Republican congressional leaders and members of Trump’s cabinet in the Oval Office at the White House July 20, 2020 in Washington, DC. Doug Mills | Getty Images It’s the question that’s been on everyone’s minds: Will there

Jose Luis Pelaez Inc Covid-19 has upended much of U.S. society. And it’s changing how Americans think about money. A survey from money manager Charles Schwab finds their new mantra could very well be, “Less is more.” When it comes to how much it takes to be considered wealthy, Americans now say it’s an average

In response to the coronavirus pandemic, a growing number of U.S. colleges have said their campuses will remain closed through the fall semester.  Still, students are heading back to school as soon as this weekend. For some, there is nowhere else to go. About 52% of high school and college students said going back to school