Personal finance

Federal Reserve Chairman Jerome Powell. Andrew Harnik | Getty Images Federal Reserve chair Jerome Powell on Friday gave the clearest indication yet that the central bank is likely to start cutting interest rates, which are currently at their highest level in two decades. If a rate cut comes in September, as experts expect, it would

Taiyou Nomachi | Digitalvision | Getty Images Remote work, a trend that sprang to prominence during the Covid-19 pandemic, appears to be an entrenched fixture of the U.S. labor market, according to economists. The work-from-home revolution is “one of the major shifts in the U.S. labor market in the last couple decades,” said Nick Bunker,

Yale University. Yana Paskova / Stringer (Getty Images) The cost of attendance at some colleges is now nearing six figures a year, after factoring in tuition, fees, room and board, books, transportation and other expenses. Among the schools appearing on The Princeton Review’s “The Best 389 Colleges” list, eight institutions — including New York University, Tufts, Brown,

Aire Images | Moment | Getty Images Retirees may have income from Social Security, a pension, a retirement plan or other sources — and they typically must either withhold taxes or make quarterly payments to avoid IRS penalties. For 2024, the quarterly estimated tax deadlines are April 15, June 17, Sept. 16 and Jan. 15,

Stephen Swintek | DigitalVision | Getty Images As families try to offset the increasing cost of college education, many have turned to 529 college savings plans as a strategy.  These accounts let families set aside money toward college expenses while taking advantage of tax breaks and compound interest, according to certified financial planner Preston D.

Although the fate of federal student loan forgiveness is up in the air, college students may be borrowing more for the coming year in part because of the expectation that their debt may get forgiven, recent research suggests. With few families able to shoulder the sky-high tuition tab, students and their parents are increasingly leaning

Richard Drury | Digitalvision | Getty Images After funneling money into pretax retirement accounts, you will eventually face mandatory withdrawals in retirement known as required minimum distributions, or RMDs. Since RMDs can trigger higher taxes, the withdrawals can be a nuisance for some retirees who do not need the money. But the yearly activity could

Kathryn Bracho, 48, with her husband, Michael, and their two sons, Declan and Taran. Courtesy: Kathryn Bracho With federal student loan forgiveness in jeopardy and the rising cost of college now a top concern for students and their families, more Americans are prioritizing saving for higher education. In 2024, 74% of parents surveyed have started

Vice President Kamala Harris, left, and former President Donald Trump Reuters As former President Donald Trump and Vice President Kamala Harris unveil their economic agendas, both presidential candidates have called for tax changes that could affect millions of Americans. Taxes will be a key issue for the next president. Without action from Congress, trillions in

Democratic U.S. presidential candidate, Vice President Kamala Harris, speaks at an Aug. 10 campaign rally in Las Vegas. Justin Sullivan | Getty Images News | Getty Images Affordable housing is a cornerstone of the “opportunity economy” that Vice President Kamala Harris sketched out last week. Harris’ economic policy pitch included proposals to lower the costs

Will & Deni Mcintyre | Corbis Documentary | Getty Images The notion of offering free school meals could become a policy issue in the U.S. presidential race, experts say — especially given Vice President Kamala Harris’ choice of Minnesota Gov. Tim Walz as her running mate on the Democratic ticket. The federal government offered K-12

A Target store in Queens, New York. Lindsey Nicholson | UCG | Universal Images Group | Getty Images The back-to-school shopping season is in full swing, with the hefty bills to prove it. Nearly one-third — 31% — of back-to-school shoppers said that buying supplies for the new year will put them into debt, according to a