Personal saving
Nearly two-thirds of millennial millionaires believe U.S. economy will be stronger by end of 2022, CNBC survey finds
Most millennial millionaires feel optimistic about the U.S. economy, with nearly three-quarters expecting improvements by the end of 2022, according to the latest CNBC Millionaire Survey. Inflation concerns are a theme throughout the survey, with 37% of millionaires saying it’s the biggest risk to the economy over the next 12 months, the findings show. […]
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Make these money moves before the Fed hikes rates again
Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. Saul Loeb | AFP | Getty Images The Federal Reserve is again poised to raise interest rates in an attempt to slow down the highest inflation in four decades without pushing the U.S. economy […]
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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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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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Millennial in Atlanta quits $180,000 job, moves to Lisbon: ‘You get a lot of bang for your buck here’
Sharolyn Wynter recalls feeling “so proud and happy” when she hit a six-figure salary for the first time as a consultant for Deloitte. “And then it was such a fleeting moment,” says Wynter, now 37. “I was still going to work every day, working long hours, not being able to enjoy this money that I’d […]
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Here’s when tax-loss harvesting makes sense … and when it doesn’t
When the stock market dips, a strategy known as tax-loss harvesting can be a silver lining. But it doesn’t make sense for all portfolios, financial experts say. Here’s how tax-loss harvesting works: You can sell declining assets from your brokerage account and use the losses to offset other profits. Once losses exceed gains, you can […]
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