Personal finance
U.S. job market slows, but it’s not yet a ‘three-alarm fire,’ economist says
Key Points Employers added 142,000 jobs in August, less than expected. The unemployment rate declined to 4.2%, according to the Bureau of Labor Statistics jobs report. The U.S. job market has slowed considerably over the past year or so. The Federal Reserve has raised interest rates to tame inflation. If the labor market continues to […]
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How high earners can funnel money to a Roth IRA, the ‘gold standard’ of retirement accounts
Key Points Investors with high incomes may not be able to contribute to a Roth or make deductible contributions to a traditional individual retirement account. However, a strategy called the “backdoor Roth IRA” lets high earners access Roth accounts. Investors would make a nondeductible contribution to a traditional IRA, and then convert those funds to […]
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These are the top 10 MBA programs in the world in 2024, according to LinkedIn
Stanford University has the top MBA program in the world in 2024, according to LinkedIn. David Madison | Getty Images Sport | Getty Images The Stanford Graduate School of Business is the No. 1 Master of Business Administration program in the world in 2024, according to LinkedIn. This year, eight of the top 10 universities […]
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I reached financial freedom at the age of 38 – here are 4 money principles I live by
Shao Chun, 38, built a seven-figure investment portfolio using four key money principles. The idea of financial freedom can feel like a far-fetched dream — something only a few get to experience after a lucky break, or during retirement after working for decades, but Shao Chun says otherwise. Over the course of eight years working […]
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American demand for international trips drives ‘travel momentum’ and overall spending
Hinterhaus Productions | Digitalvision | Getty Images Travel spending among American households continues to outpace its pre-pandemic levels, a trend underpinned by a zeal for international trips, according to new Bank of America research. “A key part of travel momentum lies within vacationing abroad,” Taylor Bowley and Joe Wadford, economists at the Bank of America […]
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The ‘rent-first’ lifestyle is catching on. From cars to clothes and even caskets, here’s when it makes sense to buy vs. rent
Owning isn’t always what it’s cracked up to be. For many reasons — including affordability — more Americans are choosing to rent everything from cars and apartments to clothing and furniture these days, according to a report by Intuit Credit Karma. Far beyond the traditional tuxedo, the rental industry has expanded in recent years to […]
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You can buy mansions in these Mediterranean countries for the price of a studio in New York
The median price per square foot in Manhattan, NY is $1,500, according to My Dolce Casa. Alexander Spatari | Moment | Getty Images Manhattan, New York is infamous for being expensive. The city consistently ranks as one of the world’s most costly places to live in. Purchasing a 500-square-foot condo in New York City can […]
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401(k) auto-enrollment features don’t help savings as much as expected, study finds
Key Points 401(k) plan policies like auto-enrollment and auto-escalation have become popular. They aim to boost workers’ retirement savings. Pioneering researchers found that the policies may be less effective than they’d previously thought. However, the effects are still positive, they said. Source
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Dollar General, Dollar Tree and Kroger customers pay over $90 million a year in cash-back fees, federal agency finds
Key Points Dollar General, Dollar Tree and Kroger have charged customers who ask for cash back in recent years. Their cash-back fees amount to more than $90 million a year, Consumer Financial Protection Bureau reports. Such fees may disadvantage those in banking deserts, where they don’t have easy access to cash for free. Retailers say […]
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The IRS has a method of ‘last resort’ to collect overdue taxes: Revoking your passport
Grace Cary | Moment | Getty Images Travelers, be warned: The federal government may revoke your passport if you ignore a big tax bill. Such punishments have become more frequent in recent years, experts said. Federal law requires the IRS and Treasury Department to notify the State Department if an American has a “seriously delinquent […]
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