Personal finance

Johner Images | Johner Images Royalty-free | Getty Images Many retirees don’t think about taxes until it’s time to withdraw funds from a pretax account, which can be a costly mistake, financial experts say. Only 3 in 10 Americans have a plan to reduce taxes on retirement savings, according to a Northwestern Mutual study from January

Tolgart | E+ | Getty Images Cybercriminals are targeting wealth accounts by tapping into a victim’s emotions. So-called romance scams involve building a relationship and trust with the victim so that the target willingly provides access to their accounts or transfers money to the criminal, explained Tracy Kitten, the director of fraud and security at

Maryna Terletska | Moment | Getty Images Individual retirement accounts are getting bigger — and it can cause tax issues for retirees or their children who inherit the assets, experts say. The median IRA or self-employed Keogh balance was $87,000 in 2022, up from $81,144 in 2019, according to a June report from the Employee

Skaman306 | Moment | Getty Images It wasn’t long ago that investors earned practically 0% returns on cash. As the Federal Reserve has kept interest rates high to combat high inflation, you can easily earn 5% annual percentage yields on savings accounts and other low risk vehicles. Some experts are now warning it’s possible to

Former President Donald Trump gives the keynote address at Turning Point Action’s “The People’s Convention” in Detroit, June 15, 2024. Bill Pugliano | Getty Images At a June 18 campaign rally in Racine, Wisconsin, former President Donald Trump slammed the Biden administration’s efforts to forgive student debt as “vile” and “not even legal.” “The students

Recep-bg | E+ | Getty Images The U.S. Department of the Treasury and IRS on Friday released final tax reporting rules for digital asset brokers — and crypto investors have limited time to prepare, experts say. Mandatory yearly reporting will phase in starting in 2026, with digital currency brokers required to cover gross proceeds from

Klaus Vedfelt | Digitalvision | Getty Images Although the unemployment rate has spent 30 months at or below below 4% — a near record — not everyone who wants a job has one. And not everyone even wants a job at all. Some, referred to as “NEETs,” which stands for “not in employment, education, or training,” are

In this article META AMZN MSFT TSLA GOOGL AAPL NVDA Follow your favorite stocksCREATE FREE ACCOUNT Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024.  David Paul Morris/Bloomberg via Getty Images The U.S. stock market has become dominated

Peopleimages | Istock | Getty Images To effectively plan for your retirement, experts say, you need to watch your savings rate and total nest egg. But how much you really need to have set aside depends on another number — your life expectancy. Yet that figure is also the most elusive — no one knows

Republican presidential candidate former U.S. President Donald Trump and Democratic Party presidential candidate U.S. President Joe Biden speak during a presidential debate in Atlanta, Georgia, U.S., June 27, 2024 in a combination photo. Brian Snyder | Reuters The future of Social Security and Medicare may be greatly impacted by whoever occupies the White House following

Some people could find themselves wrangling with summer travel bills well after Labor Day. To that point, 36% of Americans said they plan to take on debt in order to travel this summer, according to a March survey from Bankrate. The payment methods for summer travel expenses ranged from personal loans (5%) and buy now,

Spotmatik | Photodisc | Getty Images While lawmakers have a growing interest in taxing the ultra-rich, last week’s Supreme Court ruling could threaten future wealth tax proposals, experts say. In Moore v. United States, the Supreme Court blocked a challenge to the “mandatory repatriation tax,” a one-time levy on certain foreign investments enacted in 2017.