In this article COIN Grandbrothers | iStock Editorial | Getty Images Kenny Schachter, an art dealer, columnist for Artnet and self-proclaimed nonfungible tokens evangelist, believes that the digital works could eclipse the traditional art market within five years. This month cryptocurrency exchange Coinbase and the auction house Sotheby’s, which has been around since 1744, both
Don Bayley | Vetta | Getty Images This week’s announcement of the highest Social Security cost-of-living adjustment since 1982 was welcome news for retirees. It will help alleviate the financial pinch many are feeling. Beneficiaries in 2022 will receive a 5.9% boost to their checks. That’s up from a 1.3% benefit increase for 2021. Even
designer491 | iStock | Getty Images Retirement savers could start seeing annuities in their 401(k) plans. While allowing them in workplace retirement savings plans is not new, the 2019 Secure Act aimed to eliminate companies’ fear of legal liability if the annuity provider were to fail or otherwise not meet its obligations. Now, insurance companies,
When Haaziq Kazi was in the fourth grade, he was rocked to the core when he found out about the impact of plastic waste on marine life. He decided to do something about it, designing a prototype of a ship that sucks the waste from the ocean. “There’s this saying that we haven’t inherited this
Peter Cade | Getty Images Federal Reserve officials are worried that inflation could last longer than they had anticipated, according to minutes from a recent meeting released this week. Now, a survey from Global Atlantic Financial Group shows that retirement age investors ages 59 to 75 are concerned inflation could wreak havoc on their investments.
RJ Sangosti/MediaNews Group/The Denver Post via Getty Images | Denver Post | Getty Images People pursuing public service loan forgiveness know how difficult the program can be to successfully navigate. Less than 5% of those who’ve applied for the relief have been approved. The U.S. Department of Education announced that it would be giving borrowers
In this article WTY-FF Brothers91 | E+ | Getty Images You may want to get to know about a health savings account a little better. HSAs are known for their triple tax advantage — contributions are made pre-tax, growth is tax-free and withdrawals used for qualified health-care expenses are also are untaxed. Yet there are
For poet and educator Jessica Helen Lopez, empowerment and financial knowledge go hand-in-hand. Lopez, who lives in Albuquerque, New Mexico, and was the city’s poet laureate from 2014 to 2016, grew up poor in Los Angeles. Her father stayed home to take care of the family while her mother went to college. “A lot of
Greg Abbott, governor of Texas, speaks during a news conference in Mission, Texas, on Wednesday, Oct. 6, 2021. Sergio Flores | Bloomberg | Getty Images U.S. Education Secretary Miguel Cardona said that he disagrees with Texas Gov. Greg Abbott’s move to ban nearly any coronavirus vaccine mandates in the state. That’s because the move will
Getty Images The Social Security cost-of-living adjustment will be 5.9% in 2022, the Social Security Administration announced on Wednesday. The 5.9% COLA will be the biggest boost to Social Security beneficiaries’ checks in about 40 years. In 2021, the Social Security COLA was 1.3%. The last time the annual adjustment came close to that high
In this article HOOD BLK AsiaVision | E+ | Getty Images Despite the high demand for values-driven investing, few individual shareholders participate in corporate decisions. But some companies and funds are making it easier for investors to voice concerns through a proxy voting process. When someone buys a stock, they become part-owner of the company
Westend61 The Covid-19 pandemic has been a financial boon for some and a catastrophe for others. Now those effects are showing up in one more place: anticipated retirement dates. The pandemic has prompted 35% of Americans to change the age when they anticipate retiring, a recent survey from Northwestern Mutual found. More from Personal Finance:If
Luis Alvarez | E+ | Getty Images After 18 months, Americans are still dealing with the coronavirus pandemic and struggling economic recovery. Job openings and hiring fell in August, all while the number of workers who quit their jobs hit the highest level in more than two decades, according to the U.S. Department of Labor.
Kieferpix | iStock | Getty Images Time out of work — either planned or not — can have a major impact on your retirement savings. In September, there were still 2.7 million Americans who had been unemployed for 27 weeks or more, according to the latest jobs report from the U.S. Bureau of Labor Statistics.
Georgijevic | E+ | Getty Images Although many women lack investing confidence, their portfolios still outperform their male counterparts, according to Fidelity Investments’ 2021 Women and Investing Study. On average, women investors achieve positive returns and surpass men by 40 basis points, or 0.4%, an analysis of annual performance across 5.2 million accounts from January
Aimstock | Getty Images Don’t overlook required minimum distributions from your retirement accounts this year. After being waived for 2020, those RMDs — amounts you must take each year from most retirement accounts once you reach a certain age — are again in force for 2021. That’s in addition to the RMD age changing to
Female doctor working with senior patient in a modern office clinic / hospital momcilog | E+ | Getty Images Sure, there are probably more entertaining things to do than review your Medicare coverage. Nevertheless, it’s about that time of year. Open enrollment, which starts Oct. 15 and runs through Dec. 7, is when you can
Two women sit at the Capitol Reflecting Pool in Washington, D.C. on Sept. 26, 2021. Samuel Corum | Getty Images Congress is hard at work on a deal to keep the U.S. government from defaulting on its debt this month. But the short-term agreement, which was passed by the Senate and is expected to go
quavondo | E+ | Getty Images For lower-income Hispanic and Latina mothers, affordable and accessible child care would be a lifeline. As the country celebrates National Hispanic Heritage Month, it looks like that may soon become a reality. Democrats have set a deadline of Oct. 31 to enact President Joe Biden‘s economic agenda, which includes
PeopleImages | E+ | Getty Images American families grappling with the cost of higher education may consider a 529 college savings plan to lessen the financial burden. But there are several things to weigh when picking a plan. A 529 plan is an investment account offering tax-free growth, as long as the beneficiary uses the money for
A Now Hiring sign hangs near the entrance to a Winn-Dixie Supermarket on September 21, 2021 in Hallandale, Florida. Joe Raedle | Getty Images The September jobs report issued Friday offered yet more evidence that pandemic-era unemployment benefits didn’t hold back the labor market in a significant way. Job growth — 194,000 new payrolls —
@lelia_milaya via Twenty20 In the last few months, millions of American families with eligible children have received the first half of six advance child tax credit payments. For those who are eligible but haven’t yet signed up, generally because they don’t traditionally file a tax return, time is running out to claim the advance payments.
For decades, adults have increasingly shunned the idea of tying the knot. Although more people are cohabitating, it has not been enough to offset the steady decline in marriage, leaving more people uncoupled overall, according to a recent Pew Research Center analysis of the latest census data. Now, a record number of adults between the
A Social Security Administration office in San Francisco. Getty Images The Social Security cost-of-living adjustment for 2022 could be the biggest in decades. However, that increase to monthly checks will not be enough, according to The Senior Citizens League, a nonpartisan advocacy group. In a letter sent to members of both the House of Representatives
AsiaVision | E+ | Getty Images A third of working Americans saw their health-care costs rise this year, according to a survey published Thursday by the Employee Benefit Research Institute. Those expenses led some employees to decrease retirement plan contributions, delay going to the doctor, increase credit card debt or use up all or most
Lawmakers agreed to a short-term increase of the U.S. debt ceiling to avoid a first-ever default, but everyday Americans are not entirely out of the woods. A debt limit extension into December took pressure off both parties to reach a compromise by Oct. 18, when the Treasury Department warned the U.S. would exhaust its emergency
Alexandra Lashner of Bensalem, Pennsylvania, became frustrated after attempting to buy a house this year and decided to postpone homeownership. Source: Alexandra Lashner Alexandra Lashner and her husband were excited to buy their first home earlier this year. They saved up enough for a 20% down payment and had no debt. Yet they still couldn’t
In this article UAL AAL LUV DAL A patient receives a Covid-19 vaccine booster shot at a Pfizer-BioNTech vaccination clinic in Southfield, Michigan, on Sept. 29, 2021. Emily Elconin | Reuters Some people are still holding off getting vaccinated against Covid-19, even as mandates increase for the immunization. Those who aren’t yet vaccinated have been
mediaphotos | E+ | Getty Images The tax extension deadline for 2020 returns is approaching, but there’s still time to avoid extra penalties and fees. Filers have until Oct. 15 to submit their extended return, originally due on May 17. Those who filed for an extension can skip late penalties by sending in their return
Downtown Sioux Falls, South Dakota Dan Brouillette | Bloomberg | Getty Images Offshore tax havens have long been a refuge for wealthy individuals trying to hide assets. Now, states like South Dakota, Nevada and others have also become magnets for those dodging taxes. That’s according to the Pandora Papers, a collection of nearly 12 million