Getty Images Younger, wealthy investors are looking beyond the stock market for higher returns. Some 75% of high-net-worth investors between the ages of 21 and 42, compared to 32% of investors over 43-years-old, don’t expect “above-average returns” solely from traditional stocks and bonds, according to a Bank of America Private Bank study released Tuesday. The
Personal finance
Insta_photos | Istock | Getty Images It’s been a tough year for bonds, including Treasury inflation-protected securities, or TIPS, an inflation-linked asset. Despite recent losses, TIPS offer portfolio diversification amid market uncertainty, experts say. Backed and issued by the U.S. government, investors can buy TIPS in five-, 10- or 30-year terms, with twice-annual payments based
Rudi_suardi | E+ | Getty Images The Biden administration will soon issue a rule that may make it easier for workers to be considered “employees” instead of “independent contractors.” The U.S. Department of Labor issued a notice of proposed rulemaking on Tuesday, signaling its intent to issue a formal regulation that would redefine how employers
vitapix | E+ | Getty Images Your credit score can make or break your ability to open a credit card or buy a new car or home at attractive interest rates. To boost your score, you need to know where you need to improve. Keeping tabs on your credit report — which outlines your debts,
Zinkevych | iStock | Getty Images If you inherited a retirement account in 2020 or 2021, the IRS is waiving penalties for some heirs who needed to start taking required minimum distributions right away, according to a notice issued Friday. The new rule won’t apply until 2023. Typically, there’s a 50% penalty when you skip
Sollina Images | Tetra Images | Getty Images Retirees who are confronting higher prices due to record high inflation may get some welcome news this week when the Social Security Administration announces the cost-of-living adjustment for 2023. The bump to benefits is slated to be announced Thursday along with new consumer price index data for
Tom Brenner | Reuters There’s still a decent chance that changes to the U.S. retirement system will be enacted before the end of the year. Despite there being just a few months left before the next Congress convenes Jan. 3 — the midterm elections will be Nov. 8 — the push to improve Americans’ ability
Luminola | E+ | Getty Images It’s natural to fixate on portfolio losses, especially with the S&P 500 down more than 20% for the year. But you may still have gains after years of growth, and the profits could qualify for a 0% tax rate, depending on your earnings. The thresholds may be higher than
In this article TGT AMZN Follow your favorite stocksCREATE FREE ACCOUNT Amazon‘s two-day “Prime Early Access Sale” starts soon, spurring a number of holiday deals coming earlier than ever before. “October is really going to be the month of unprecedented deals,” said Deborah Weinswig, the founder and CEO of Coresight Research. Indigenous People’s Day or Columbus
Parents and caregivers with the Economic Security Project gather outside the White House to advocate for the Child Tax Credit in advance of the White House Conference on Hunger, Nutrition, and Health on Sept. 20 in Washington, DC. Larry French | Getty Images Entertainment | Getty Images When Natacha Chavez began receiving monthly child tax
The Good Brigade | DigitalVision | Getty Images Up to 23 million California residents are about to receive tax refunds of as much as $1,050, thanks to one-time stimulus payments the Golden State began deploying Friday. The payments, which will total $9.5 billion, mark the largest program of its kind in the state’s history. The
Tempura | E+ | Getty Images The U.S. Department of Education has said its application for student loan forgiveness will go live in early October, suggesting it could be ready any day now. With legal challenges to President Joe Biden’s historic move to cancel up to $20,000 in debt for millions of Americans mounting, experts