Personal saving
A self-made millionaire shares her top 18 ‘recession money rules’: ‘Don’t panic’ and ‘prepare to borrow’
Worried about what your financial situation will look like in a year — or even in a few months — from now? With all the concerns about economic growth, it’s reasonable to be worried about a potential recession. But the key is to start preparing now so that you’re in the best position with your […]
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Here’s how much cash you need to ride out a recession at different life stages, according to financial advisors
designer491 | iStock | Getty Images With the threat of a recession looming, more financial experts are sharing how to prepare — including how much cash it may be smart to set aside. The end of June marked a turbulent six months for the S&P 500 Index, which dropped by more than 20% since January, […]
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The Federal Reserve hiked interest rates to combat inflation: Here’s what that means for you
The Federal Reserve recently raised interest rates by three-quarters of a percentage point, the most aggressive hike since 1994. This rise puts the key benchmark federal funds rate at a range between 1.5 and 1.75%. The Fed’s intention is to help combat inflation. Watch this video to find out what rising interest rates mean for […]
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Some experts say a recession is coming. Here’s how to prepare your portfolio
Phonlamaiphoto | Istock | Getty Images Months of stock market volatility, surging inflation and rising interest rates have left many investors wondering if a recession is coming. The stock market tumbled again on Thursday, with the S&P 500 capping its worst six-month start to a year since 1970. In all, it’s down more than 20% […]
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The S&P 500 just had its worst first half in more than 50 years, which ‘stressed’ this classic investment strategy
Stock trader on the floor of the New York Stock Exchange. Spencer Platt | Getty Images News | Getty Images The S&P 500 Index, a barometer of U.S. stocks, just had its worst first half of the year going back over 50 years. The index fell 20.6% in the past six months, from its high-water […]
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IRA rollovers often come with higher investment fees, Pew finds: Here’s how much money that costs retirement savers
andresr | E+ | Getty Images IRA rollovers are common for job switchers, retirees Investors rolled $516.7 billion from workplace plans into traditional IRAs in 2018, the latest year for which data is available. That’s nearly 28 times more money than as contributed to traditional IRAs that year. A Pew survey from 2021 found that […]
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‘It’s like going to the DMV online’: What to know about buying Series I savings bonds via TreasuryDirect
Eakgrunge | Istock | Getty Images There’s been record demand for federal Series I savings bonds, an inflation-protected and nearly risk-free asset, offering an eye-popping 9.62% annual return through October. However, it’s not easy to buy I bonds through TreasuryDirect, a 20-year-old platform run by the U.S. Department of the Treasury, financial advisors say. “It’s […]
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Summer temperatures — and inflation — are running hot. Here’s how to save money on cooling bills as prices rise
A pedestrian uses an umbrella to get some relief from the sun as she walks past a sign displaying the temperature on June 20, 2017 in Phoenix, Arizona. Ralph Freso | Getty Images Tips for efficient energy use Most cooling systems use electricity, so making sure your home is running as efficiently as possible can […]
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Job loss is a ‘reality’ of the business cycle, says labor expert. Take these 6 key steps after a layoff
Halfpoint Images | Moment | Getty Images 1. Take a financial inventory Among the first things to do if you lose your job is take stock of financial resources at your disposal, according to financial advisors. Those may include other streams of income such as a partner’s salary, as well as emergency savings, company stock […]
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30% of LGBTQ+ adults have experienced discrimination or exclusion from financial services, study finds
Rainbow flags celebrate Pride Month in New York. Lev Radin | Pacific Press | LightRocket | Getty Images Members of the LGBTQIA+ community are still struggling, in some instances, to access financial services that would help them manage their money. Some 30% of LGBTQIA+ adults have experienced bias, discrimination or exclusion in the financial services […]
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