Personal saving
‘You can control your tax-reporting destiny’. 4 key year-end tax moves
seksan Mongkhonkhamsao | Moment | Getty Images 1. Boost your 401(k) contributions If you haven’t maxed out your workplace 401(k), there may still be time to boost your contributions for 2022, said Guarino. The move may lower your adjusted gross income while padding your retirement savings, but “time is of the essence,” he said. With […]
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Gen Zers are coming home for the holidays on mom and dad’s dime, study says
Travel demand has surged this year, although not everyone can afford the sky-high tab. Along with rising costs for hotels and rental cars, travelers can expect to pay up to 39% more for a round-trip flight around Christmas compared to last year, according to data from the travel booking app Hopper. Young adults, in particular, are shifting […]
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I raised 2 effective CEOs and a doctor. Here is the No. 1 talent I would like extra dad and mom taught their kids right now
Creating expertise like curiosity, kindness and psychological intelligence at a younger age will help little ones succeed as older people. But there is just one skill that mother and father aren’t teaching their children more than enough of these days: self-regulation. When little ones study to self-regulate, they far better understand the worth of time […]
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‘A lot of people are going to see less money in their pocket.’ Here are must-know tax changes for 2022
Tom Werner | DigitalVision | Getty Images Certain tax credits have been reduced One possible reason for a smaller tax refund is the child tax credit and the child and dependent care tax credit have been reduced for 2022, explained certified financial planner Cecil Staton, president and wealth advisor at Arch Financial Planning in Athens, […]
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35% of millionaires say it’s ‘going to take a miracle’ to be ready for retirement, report finds
A cool $1 million is not what it used to be. There are more millionaires in the U.S. and globally than ever before, with nearly 24.5 million millionaires nationwide as of 2022, according to the latest Global Wealth Report from the Credit Suisse Research Institute. Even so, having seven figures in the bank offers less […]
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Tax ‘refunds may be smaller in 2023,’ warns IRS. Here’s why
If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS. Typically, you get a federal refund when you’ve overpaid yearly taxes or withheld more than the amount you owe. Your annual balance is based on taxable income, calculated by subtracting the greater of the standard […]
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If you’re still missing your tax refund, you’ll soon receive 7% interest from the IRS — but it’s taxable
Bill Oxford | E+ | Getty Images If your tax refund is still in limbo, there’s good news: Your balance may be accruing interest, and the rate increases to 7% from 6% on Jan. 1, according to the IRS. As of Nov. 18, there were 3.4 million unprocessed individual returns received in 2022, including filings […]
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Despite ongoing Covid risks, more employees consider cutting back on health-care benefits
Tech startup company Fast Chief Communications Officer Jason Alderman (R) talks with an employee on the first day working in the office on March 24, 2021 in San Francisco, California. Justin Sullivan | Getty Images Inflation has stretched household budgets near their limit. As a result, most people have reined in discretionary spending, even when […]
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It’s been a volatile year for the market: These are the key things to know before rebalancing your portfolio
After a volatile year for the stock and bond markets, it may be time to rebalance your portfolio by shifting assets back to match your original goals, according to experts. As of Nov. 28, the S&P 500 Index was down roughly 17% year-to-date, and the U.S. bond market has dropped by around 13%, leaving many […]
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The concern of decline can expense buyers major-time. Here’s how
Essential Points People developed with a effective bias from loss. That cognitive impulse aided people endure, but impedes many traders from making audio conclusions. “Loss aversion bias” leads to individuals to devote as well conservatively, promote shares all through downturns to prevent further losses and helps prevent some from setting up to commit in the […]
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