Personal finance

Imtmphoto | Istock | Getty Images These days, many young adults do not become financially independent until they are well into their 20s. To be sure, inflation has made it even harder for those just starting out. But, in addition to soaring food and housing costs, millennials and Gen Z face financial challenges their parents did not as young adults:

Thanasis Zovoilis | Getty Callers who have sought help from the Social Security Administration in recent years have reported long wait times, dropped calls and inability to access the agency’s services. A new report from the Social Security Administration Office of the Inspector General finds the agency experienced more than 40 telephone system disruptions between

In this article MS Follow your favorite stocksCREATE FREE ACCOUNT Fotograzia | Moment | Getty Images BOSTON — As worried about climate change as workers might be, it can be tricky if not impossible to invest with the environment in mind in your workplace retirement plan. Less than 5% of 401(k) plans offer funds dedicated to environmental,

Getty Images After a tough year for the stock and bond markets in 2022, some advisors are turning to alternative investments, according to a new survey from the Financial Planning Association.  Nearly 30% of advisors are actively investing in or seeking alternative investments, or “alternatives,” for clients, the findings show. These assets typically fall outside

Ascentxmedia | Istock | Getty Images Washington lawmakers avoided touching Social Security when they crafted the recent bipartisan compromise to raise the debt ceiling. But the program may come under scrutiny as Congress continues to reevaluate federal spending. “This is the first step,” House Speaker Kevin McCarthy, R-Calif., told Fox News shortly after the debt

In this article LC Follow your favorite stocksCREATE FREE ACCOUNT After leaning heavily on their paychecks as prices spiked over the last year, households are finally feeling some relief. As of May, 57% of consumers said they were living paycheck to paycheck, down from 61% the month earlier, according to a new LendingClub report. Workers last month saw their buying

Antonio Suarez Vega | Istock | Getty Images When it comes to how much they will need to comfortably retire, Americans have a “magic number” in mind — $1.27 million, according to new research from Northwestern Mutual. That’s up from $1.25 million last year, the financial services firm found, based on an online survey of

A lot of financial planning is, of course, about the future. But people’s goals can backfire if they neglect themselves in the present, says Preston Cherry, a certified financial planner and founder and president of Concurrent Financial Planning in Green Bay, Wisconsin. “Starving your current self … could be discouraging,” said Cherry, who is also

Images By Tang Ming Tung | Digitalvision | Getty Images Workers saw their buying power grow in May for the first time in two years, as inflation continues to fall from its pandemic-era peak. If the trend continues, it’d be welcome news for households, who could lean more on their paychecks instead of their savings

New York and London are some of the most desirable cities to live in due to the amount of job opportunities and the vibrant entertainment options — but residents are paying a premium. New York tied with Singapore as the most expensive cities in the world in 2022, according to the Economist Intelligence Unit’s Worldwide

Jose Luis Pelaez Inc | Digitalvision | Getty Images Who’d think a little plastic rectangle could be associated with so much mystery and angst? When it comes to credit cards, 26% of Americans say they’re “dangerous” and another 9% call them “evil,” according to a NerdWallet poll. Credit card debt and interest rates are at

Blackcat | E+ | Getty Images Having ample cash set aside can help prevent an unexpected emergency from turning into a financial catastrophe. But when it comes to emergency savings, more than half of Americans — 57% — are uncomfortable with the level of money they have set aside, according to a new Bankrate survey.