Personal saving
This 529 savings plan myth is making college pricier for families, consultant says: ‘It’s candidly, blatantly not true’
Kevin Dodge | The Image Bank | Getty Images SEATTLE — For many families, paying for college is a financial burden, and experts say education-funding myths may be adding to the student loan debt crisis. “There’s often this perception that somehow people are being penalized for saving for college,” said Cozy Wittman, national education and […]
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Here’s why salaries in the U.S. don’t keep up with inflation
Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared with a year prior — the largest annual increase since 1981. While wages are rising, they’re not keeping up with inflation. Wage growth has been consistent with an inflation rate of about 4.5%. Meanwhile, as of November, […]
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‘It could be a blessing and a curse.’ Here are 3 unexpected financial pitfalls unmarried couples need to know
Petri Oeschge | Getty Images SEATTLE — If you’re living together before marriage or committed long-term without plans to tie the knot, you’ll need to prepare for the future — or you may face challenges later, experts say. There are “rising rates of cohabitation,” with many couples skipping marriage because “they don’t see the benefit,” […]
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‘Early filers’ should wait to submit their tax return in 2023, the IRS warns. Here’s why
If you’re eager to file your 2022 tax return in January or early February, the IRS has a warning: You’ll need to wait for “key documents” before filing in 2023. In a release last week, the IRS urged “early filers” to watch for Form 1099-K, which reports income for third-party payment networks such as Venmo […]
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Making these 5 money moves now can set you up for financial success in the new year
Cn0ra | Istock | Getty Images The end of the year is an important time for making financial decisions that can have an impact in the year ahead — and for years to come. From your work to your savings and investments to spending and giving back, here are five moves you should consider making […]
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These are the best 10 metro areas for first-time home buyers — and how to make it more affordable no matter where you’re buying
The Central Business District of Pittsburgh J. Altdorfer Photography | Getty Images After bidding wars during the pandemic, demand for home purchases has fallen amid higher mortgage interest rates. That dynamic has made some markets are more attractive for first-time home buyers for 2023, according to a Zillow report released this week. The real estate […]
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Boomers have more wealth ‘than any other generation,’ but millennials may not inherit as much as they hope
On the cusp of the greatest generational wealth transfer in history, baby boomers are set to pass more than $68 trillion on to their children. “It’s a generation that has accumulated a greater percentage of wealth than any other generation ever has,” said Mark Mirsberger, a certified public accountant and CEO of Dana Investment Advisors, referring […]
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Amid inflation and market volatility, just 12% of adults — and 29% of millionaires — feel ‘wealthy’
Inflation, geopolitical uncertainty and fears of a recession have undermined financial confidence across the board, according to a new report by Edelman Financial Engines. Less than one-quarter, or 23%, of more than 2,000 adults polled earlier this fall said they felt “very comfortable” about their finances. Fewer — just 12% — consider themselves wealthy, the […]
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This 28-year-old built a side hustle that brings in $30,000 a month: ‘I only have to work 6 hours a week’
Before the pandemic, I worked at an ad-tech startup in California and made $240,000 a year, including sales commission. But as the country went into lockdown in March 2020, so did many of my retail, restaurant and entertainment clients. Even after putting in long hours, I struggled to meet my sales quota. That spring, I […]
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Robinhood to pay out a 1% ‘match’ on shopper contributions to retail particular person retirement accounts
Critical Points Robinhood, a retail brokerage, will offer you a 1% “match” to consumers who lead revenue to an unique retirement account by means of the Robinhood Retirement software. Industry experts imagine it is a way to get focus in a crowded current market. Source
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