Personal finance
Stocks have officially entered bear market territory—here’s what that means and what you should do
The months-long slide for the S&P 500 index has officially thrown stocks far enough off of their all-time highs to be considered a bear market. Since the beginning of 2022, the S&P 500 index is down nearly 21% as of Monday afternoon, with companies like Amazon and Google parent Alphabet leading the way with their […]
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Despite the bitcoin selloff, it’s still an asset class that is accessible to anyone, says blockchain educator
Cleve Mesidor. Tom Williams | Cq-roll Call, Inc. | Getty Images Even as cryptocurrency craters as it has the past few weeks, it remains an asset class that is accessible to anyone, says a blockchain educator. And Cleve Mesidor says that’s why it’s drawing in Black and Latino communities. Bitcoin’s selloff, sparked by a reversal […]
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Charles Schwab to pay $187 million to settle SEC charges that it misled robo-advisor clients on fees
The U.S. Securities and Exchange Commission headquarters in Washington on Feb. 23, 2022. Al Drago/Bloomberg via Getty Images Charles Schwab agreed to pay $187 million to settle an SEC investigation into alleged hidden fees charged by the firm’s robo-advisor, Schwab Intelligent Portfolios, according to an agency announcement on Monday. “Robo-advisor” is shorthand for a digital […]
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401(k) savers will see a ‘wake-up call’ in their next statement, says law professor. Here’s what to look for
Blackcat | E+ | Getty Images You may get a nasty surprise when you open your next 401(k) statement. These statements generally arrive each quarter, either online or by mail. They provide basic information to savers about their investments and the size of their nest egg, for example. Starting in a few weeks, the notices […]
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Why Californians are fleeing to Mexico
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email In 2021, more than 360,000 people left California in what many are calling the “California Exodus” as residents move to states like Texas, Arizona and Washington. But a rising number of them are migrating out of the country and instead, heading south […]
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Here’s what people expect to spend more on as inflation continues to surge
Regular unleaded gasoline was $4.69 a gallon (cash) at a Houston Exxon Mobil station on June 9, 2022. Gas prices are breaching record highs as demand increases and supply fails to keep up. Brandon Bell | Getty Images News | Getty Images Americans are still grappling with the worst inflation in roughly 40 years, and […]
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Here’s how to make money off the clothes you used to wear to the office
Westend61 | Westend61 | Getty Images Many workers are finding themselves in an office less often than before the pandemic, and some haven’t gone back at all. So what to do with all those office clothes hanging in your closet? Here are some ideas. Get cash for your clothes You can sell your work clothing […]
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Annuity sales rise, buoyed by market fears and higher interest rates. What to know before you buy
Svetikd | E+ | Getty Images Annuities are on track for a banner year as consumers flee stock volatility and insurers offer more attractive rates. Limra, an insurance industry group, forecasts annuity sales of $267 billion to $288 billion in 2022, eclipsing the record ($265 billion) set in 2008. Consumers pumped $255 billion into annuities […]
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Why saving in a 401(k) plan may be tough for frequent job switchers
Damircudic | E+ | Getty Images Saving in a 401(k) plan may be tough for workers who switch jobs frequently — a dynamic that’s come into greater focus amid the Great Resignation. In 2021, 14% of people saving in a 401(k) plan left their employer, according to a new report from Vanguard Group, which is […]
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Here’s how to fight a higher-than-expected property tax bill
Momo Productions | Digitalvision | Getty Images If the value of your home ballooned during the Covid pandemic, you may receive an inflated property tax assessment in the mail. There are ways, however, to combat a higher bill, experts say. Despite double-digit growth in single-family home prices, property taxes only increased by 1.8% in 2021, […]
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