Personal finance

Thomas Barwick | Stone | Getty Images The S&P 500 index has been a winner in 2023. The index on Wednesday closed above 4,700 for the first time since January 2022.  Year to date, the index is up about 23%. Its average annual return is more than 10%. That performance may now prompt some investors

These days, fewer people feel financially comfortable, let alone rich. The average household’s net worth has soared in recent years, rising 37% between 2019 and 2022, according to the survey of consumer finances from the Federal Reserve. Yet, even as households became wealthier, inflation and instability have left more people in the bucket of so-called

Andresr | E+ | Getty Images Are you expecting a package delivery this holiday season? If so, scammers may try to dupe you with bogus emails or text messages about a shipment to steal your personal information, the Federal Trade Commission warned in a consumer alert. People who buy items online typically get several notifications

The Powerball jackpot hit $1.2 billion on Oct. 3, 2023, the third-biggest prize in the game’s history. Scott Olson | Getty The Powerball jackpot has grown to an estimated $535 million — and with the year-end approaching, the winner may wonder whether it’s better to claim the prize in 2023 or 2024. There have already

FG Trade A growing number of mutual funds are converting to exchange-traded funds, which is a positive trend for investors, experts say. Since early 2021, there have been more than 70 mutual fund to ETF conversions, including nearly three dozen in 2023, according to Morningstar Direct, and experts say more conversions are coming. “It’s steadily

Traders work on the floor of the New York Stock Exchange during morning trading on December 13, 2023 in New York City. Michael M. Santiago | Getty Images The stock market is having a holiday party. But financial advisors urge investors to use caution for before joining in. “Don’t fall prey to irrational exuberance,” said

Valentinrussanov | E+ | Getty Images Retirement balances for midcareer workers declined between 2019 and 2022, despite gains on financial assets like stocks over that period, according to new research. However, the loss isn’t necessarily as bad as it may initially seem, financial experts said. Median combined 401(k) plans and individual retirement account balances for

Shohei Ohtani, formerly of the Los Angeles Angels, pitches during a game in Anaheim, California, on July 6, 2021. Daniel Shirey | Major League Baseball | Getty Images Shohei Ohtani made history this week with a 10-year, $700 million contract to play for Major League Baseball’s Los Angeles Dodgers. The deal’s unique payout structure, however,

Thomas Barwick | Stone | Getty Images Inflation has been falling gradually across the U.S. economy. This process, known as disinflation, means prices for consumer goods and services are rising but at a slower pace than they had been. However, inflation has actually turned negative in some sectors, like energy. Deflation, as this dynamic is

Kentaroo Tryman | Maskot | Getty Images Inflation declined slightly last month on the back of weaker prices at the gasoline pump and a broader easing of price pressures throughout the U.S. economy, experts said. The consumer price index in November increased 3.1% from 12 months earlier, down from 3.2% in October, the U.S. Bureau

Fizkes | Istock | Getty Images There’s one piece of good news for student loan borrowers bummed out by the resumption of their bills this fall: They may be eligible for a break on their 2023 taxes. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid

Women control only about one-third of all financial assets in the U.S., but that is about to change. As part of the great wealth transfer, women are expected to inherit much of the $68 trillion in wealth that baby boomers are passing down, according to research by McKinsey. Whether husbands are leaving money to their