Personal finance

Jamie Grill | Getty Images More than a decade ago, the markets were sent into a tailspin during the financial crisis of 2008-2009. But it turns out investors who left their retirement nest eggs alone fared best. That’s according to research from J.P. Morgan, which used the firm’s own data combined with research from the

Grace Cary The coronavirus pandemic is continuing its assault on the U.S. economy, forcing businesses to close, lay off workers or reduce their hours. Many Americans may need fast cash, beyond what can be generated by strict budgeting. But where to turn? Here are some of the possibilities, according to financial advisors. Unemployment insurance “File

Rep Ilhan Omar (D-MN) takes part in a discussion on “Impacts of Phobia in Our Civic and Political Discourse” during the Muslim Caucus Education Collective’s conference in Washington, July 23, 2019. Kevin Lamarque | Reuters Democratic Reps. Ilhan Omar of Minnesota and Ayanna Pressley of Massachusetts introduced legislation on Monday that would suspend student loan

Getty Images Several Democratic senators have teamed up to propose giving Social Security beneficiaries an extra $200 per month in the wake of the coronavirus pandemic and the economic devastation it is causing. The plan was put forward last week by Sens. Elizabeth Warren, D-Mass.; Chuck Schumer, D-N.Y.; and Ron Wyden, D-Ore. The extra income

US Secretary of Education Betsy DeVos Saul Loeb | AFP | Getty Images U.S. Department of Education Secretary Betsy DeVos announced on Friday that student loan borrowers could put their monthly payments on pause for at least 60 days during the coronavirus outbreak.  DeVos said this pause, coupled with the suspension of interest on student

US Treasury Secretary Steven Mnuchin arrives to testify during a House Ways and Means Committee hearing about the Fiscal Year 2021 budget request on Capitol Hill in Washington, DC, March 3, 2020. Saul Loeb |  AFP | Getty Images You now have until July 15 to file your taxes. However, if you’re expecting a refund,

Erica Cisneros, of San Anselmo, California, helps her daughters, third-grader Emilia and fourth-grader Eden, with schoolwork at their home. Both of the schools that the girls attend are closed because of COVID-19. Ezra Shaw It’s no fun thinking about scary things that may or may not happen. However, what’s even less fun is not being

Princeton University’s campus was largely deserted as of March 18, 2020 as a growing number of colleges require students to leave for the remainder of the spring semester. Jessica Dickler | CNBC “Stay healthy, stay home,” reads a lit-up sign outside the gates of Princeton University. On campus, the majority of students are gone although

PeopleImages Coronavirus scams are emerging, and many look remarkably similar to frauds from the 2008 financial crisis. Government agencies like the Federal Trade Commission and Federal Deposit Insurance Corp. issued warnings this week for Americans to be vigilant as con artists attempt to steal from consumers spooked by an onslaught of bad news related to

Treasury Secretary Steven Mnuchin prepares to deliver remarks on the coronavirus relief package after the Senate Republican Policy luncheon in Russell Building on Tuesday, March 17, 2020. Tom Williams | CQ-Roll Call | Getty Images The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to

cmannphoto | Getty Images  Many Americans may soon get checks in their hands from the government. But Uncle Sam could also claw back some of that money. Information about how much those checks will be – and whether or not individuals will pay tax on them – will likely be hammered out in a deal

Tara Moore | Getty Images A  bill proposed by Senate Majority Leader Mitch McConnell, R-Ky., calls for sending checks of $1,200 to $2,400 to most Americans as a result of the economic damage stemming from the coronavirus outbreak. Based on the language of the bill, most Social Security recipients should be covered. But whether that will

Across the country, parents are adjusting to a new normal. School and office closings mean that everyday education- and work-related activities, from business meetings to math lessons, now take place at home.  As of March 19, at least 95,000 U.S. schools have been closed or are scheduled to close in response to the growing coronavirus

U.S. Senate Minority Leader Sen. Chuck Schumer (D-NY) speaks during a news conference at the U.S. Capitol March 17, 2020 in Washington, DC. Alex Wong Senate Democrats are proposing that the federal government cancel student loan payments throughout the coronavirus outbreak and forgive at least $10,000 of the debt for each borrower.  The plan unveiled

If you have cash parked in a money market fund that invests in non-U.S. Treasury debt, the Federal Reserve says it’s got your back. Late Wednesday, the Fed announced a new program that will make loans to financial institutions that buy shares in “prime” money market mutual funds, whose investments include corporate bonds. It’s the

boonchai wedmakawand Financial scammers will likely try to steal money offered to Americans suffering from the negative economic effects of the coronavirus pandemic — and the public should be on its guard, federal officials warned on Wednesday. The White House has proposed making direct payments to American households as the coronavirus continues to wreak havoc

AndreyPopov | Getty Images Some good news – in the form of money – may be coming to Americans soon. On Tuesday, Treasury Secretary Steve Mnuchin said that the Trump administration plans to move “immediately” to send money to Americans as the coronavirus cripples the economy. “Americans need cash now,” Mnuchin said, indicating checks could

Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Tuesday, March 17, 2020. Kevin Dietsch | Bloomberg | Getty Images. The Treasury Department won’t extend the tax filing deadline for 2019 returns,

In the face of a global pandemic, millions of Americans are at risk of going without pay for a prolonged period of time. That’s more than most can manage, considering that more than three-quarters of all full-time workers are living paycheck to paycheck, according to a report from CareerBuilder. In an attempt to help, the Federal Reserve announced

U.S. President Donald Trump speaks while flanked by Secretary of the Treasury Steven Mnuchin (R) during a briefing about the coronavirus in the press briefing room at the White House on March 17, 2020 in Washington, DC. Drew Angerer | Getty Images Taxpayers will get a three-month reprieve pay the income taxes they owe for