Amid concerns about the U.S. economy and the possibility of a recession, most retirement savers want some sort of assurance they won’t outlive their nest eggs, recent reports show. As a result, demand for annuities, which offer a guaranteed stream of monthly income like Social Security and pensions, has soared. Now, more than half, or 54%,
Personal finance
Rep. John Larson, D-Conn., leaves the Capitol after the final votes of the week on Feb. 28, 2019. Bill Clark | CQ-Roll Call Group | Getty Images House Democrats on Tuesday slammed Republicans for putting Social Security benefits at risk amid an ongoing federal debt ceiling stalemate, while also re-upping a plan that aims to
Maskot | Maskot | Getty Images As new peer-to-peer payment app options emerge for teenagers, experts say it’s an opportunity for parents to teach their kids how to use these financial tools wisely — and educate them on how to avoid common pitfalls. Venmo on Monday unveiled a new teen account that allows parents to
Monthirayodtiwong | Istock | Getty Images If you’re boosting your emergency fund or saving for a short-term goal, a certificate of deposit ladder, or CD ladder, may help you capture higher yields amid interest rate uncertainty. After a series of interest rate hikes from the Federal Reserve, options for cash, such as high-yield savings, Treasury
In this article EOCW Follow your favorite stocksCREATE FREE ACCOUNT When it comes to managing money, women face unique challenges. Women tend to live longer than men, which means they need their money to last for a longer period of time, according to Kamila Elliott, a certified financial planner and co-founder and CEO of Collective
Articles about emergency funds may have put you to sleep as recently as a year ago. You would have been lucky to find a high-yield savings account paying out 1%-2% at that time. However, with interest rates soaring, cash investments can post sizable returns, driving some of the highest interest payouts in decades. This is
Marc Debnam | Getty Images Weddings are expensive, and not just for the bride and groom. As more couples choose to go all out on their nuptials, the average guest will spend $611 on travel and accommodations, gifts and special-occasion attire and preparation this year, according to a recent report by Bankrate.com. Wedding gifts alone
More than 4 million new college graduates will head out into the world this month, but it could be years before they pay their own own way. Most people feel like a grownup by the time they’re 18 — and certainly once they have a college degree — but many young adults do not become
In this article EOCW Follow your favorite stocksCREATE FREE ACCOUNT Even as inflation shows signs of cooling, some investors may be fearing the worst about a potential looming economic downturn. A recent survey from Nationwide finds more than two-thirds of respondents — 68% — expect a recession within the next six months. Meanwhile, 62% of
Skodonnell | E+ | Getty Images I’m a financial advisor. So, I know a thing or two about saving and investing. But I’m also a dad with a college-aged son, and I am starting to see that, now more than ever, I need financial knowledge to help in that role. Saving for college has gotten
JGI | Blend Images | Getty Images The IRS is preparing to test a free online direct filing system for some taxpayers — and while pre-populated returns with certain details already filled in aren’t part of the initial plan, research shows it may be possible for certain filers. As directed by the U.S. Department of
Sen. Kirsten Gillibrand, D-N.Y., urges Congress to make child care affordable, pass paid leave, support care infrastructure, and raise the debt ceiling on May 17, 2023 in Washington, D.C. Paul Morigi | Getty Images Entertainment | Getty Images Many workers need to take leave at some point to address their own health needs or to