Personal finance

Alvaro Gonzalez | Moment | Getty Images Despite a strong labor market, some applicants are facing more competition on the job hunt. But prolonged unemployment and lower income for 2024 could offer the chance for tax planning, experts say. One “silver lining” of a job layoff can be a temporary lower federal income tax bracket,

Maca And Naca | E+ | Getty Images Your student loan bill may get smaller next month. Here’s why: A feature of the Biden administration’s latest income-driven repayment plan that will reduce millions of borrowers’ monthly payments kicks in on July 1. For some borrowers, “it’s a dramatic drop,” said higher education expert Mark Kantrowitz.

Justin Paget | Digitalvision | Getty Images The work-from-home trend is here to stay. Many companies have continued to let employees work remotely for at least some of the workweek — four years on from the early days of the Covid-19 pandemic — due to the win-win nature of the arrangement: Remote work is more

Jamie Grill | Getty Images Mega backdoor Roth conversions can significantly boost tax-free retirement savings — but this maneuver is not available for all investors and mistakes are common, experts say. When investors make too much to save directly to a Roth individual retirement account, backdoor strategies can bypass the IRS income limits. A mega

Andresr | E+ | Getty Images College graduates who recently received their diplomas may be dreading the next milestone: The start of their federal student loan payments. Each year, roughly 2 million people in the U.S. are awarded a bachelor’s degree, according to an analysis by higher education expert Mark Kantrowitz. Roughly 60%, or 1.2

Sally Anscombe | Moment | Getty Images When saving for retirement, investing sooner typically boosts growth over time. But you can lose money by maxing out your 401(k) too early in the year — unless the plan has a special feature. Most 401(k) plans offer an employer match, which uses a formula to deposit extra

Ippei Naoi | Moment | Getty Images Generation X is known as the sandwich generation because they sit between having a combination of financial or emotional responsibility for adult children and aging parents — in addition to managing their own current lifestyle aspirations and securing their retirement future. It’s a lot to deal with, and

Finance bros are having a moment. Just ask content creator Megan Boni, who posted a clip from her account @girl_on_couch on April 30 hashing out a new song. The lyrics are simply: “I’m looking for a man in finance, trust fund, 6’5”, blue eyes…” Her 20-second video has more than 38 million views and counting. A representative

SDI Productions | E+ | Getty Images A gradual cooling of the labor market has made it tougher to find a new job, but overall conditions are still favorable for job seekers. “Things have gotten competitive,” said Julia Pollak, chief economist at ZipRecruiter. “Don’t get discouraged; there are opportunities out there,” she added. “This is

“Spaving,” or spending more to save more, has become a dangerous habit for cash-strapped Americans amid elevated inflation and mounting debt. Though inflation eased in April, the consumer price index was still up 3.4% from a year prior.  Despite higher prices, Americans continue to spend. To that point, credit card debt reached $1.12 trillion in

Halfpoint Images | Moment | Getty Images The average 401(k) plan savings rate, including employee and company contributions, recently hit a record high — and the percentage is nearing a popular benchmark. During the first quarter of 2024, the combined 401(k) savings rate reached 14.2%, according to a quarterly Fidelity analysis of almost 26,000 corporate

D3sign | Moment | Getty Images Americans aren’t good at taking vacation. About 62% of workers say having a job with paid time off — for vacations or illness — is “extremely important” to them, more so than benefits like health insurance, a 401(k) plan or paid parental leave, according to a Pew Research Center