Personal finance

Kieferpix | iStock | Getty Images When it comes to retirement savings, how much is enough in order to feel financially secure? The median answer across workers of all ages is $500,000, according to research from the Transamerica Center for Retirement Studies. But that figure varied somewhat across generations. While the median number for Gen

Sam Edwards | Getty Images One type of annuity may be poised to get a bit of a makeover. Under bipartisan retirement legislation pending in both the House and Senate, the rules applying to qualified longevity annuity contracts, or QLACs, would be changed. Although the two chambers’ provisions differ somewhat, both would remove the 25%

The Biden administration announced Friday it will extend the payment pause for federal student loan borrowers through January 2022. Since March 2020, the borrowers have been given the option to press the pause button on their monthly bills, without interest accruing on their debt. Some 90% of borrowers have been doing so. The pause was

Tara Moore | Getty Images When the onset of the Covid-19 pandemic sent shock waves through the U.S. economy, its also prompted worries about how the ensuing downturn could affect Social Security. The program’s trust funds were already running low. At the same time, the Social Security Administration was faced with the unprecedented task of

It might be time, again, to protect your credit. An estimated 1 million U.S. and global credit cards were released by a Russian criminal organization on the so-called dark web, according to analysts at cybersecurity firm Q6. The group, which calls itself “All World Cards,” offers stolen credit card information to other criminals. Although there’s

Photo by Ariel Skelley via Getty Images Investors are piling into municipal bonds — also known as muni bonds or “munis” — ahead of President Joe Biden‘s proposed tax hikes. However, some retirees may be hit with a costly surprise: higher Social Security levies and Medicare premiums.  During the first six months of 2021, U.S.

Peter Cade | Getty Images It looks like some older workers might get a boost in how much extra money they can put in their retirement accounts. So-called catch-up contributions — amounts permitted above the usual contribution limits — would be expanded for workers in their 60s, under legislation pending in Congress. While the details

The pandemic has caused a lot of people to reevaluate, particularly when it comes to work. In what’s been called the “Great Resignation,” roughly 1 in 3 workers are now considering leaving their job, while almost 60% are rethinking their career, according to a report by personal finance site MagnifyMoney.   After spending more than

Richard Stephen | iStock | Getty Images Leopold broke down his bed and his children’s bunk beds and packed up his belongings, preparing for himself, his wife and their six children to become homeless. “I was trembling,” said Leopold, who asked to use his first name only because of the stigma attached to eviction. “But

Getty Images Although every retirement looks different, those with guaranteed income, little debt, a clear spend-down strategy and employer-provided assistance are among the most satisfied.      That’s according to a study from the Employee Benefit Research Institute’s Retirement Security Research Center, profiling five types of retirees. The study uncovered patterns among retirees who identify as “average,”

The Centers for Disease Control and Prevention is expected to announce a new federal eviction moratorium on Tuesday, according to a source familiar with the matter. The eviction ban will be targeted at areas of the country experiencing high levels of coronavirus infections. The protection will last for 60 days until Oct. 3 and could

In just a few weeks, many U.S.-based companies planned to be back in the office, at least part of the time. But a recent surge in Covid-19 cases due to the delta variant has caused some employers, including Apple, Alphabet, Uber and Lyft, to delay those return-to-office dates. And increasingly, employees are less willing to go back

Samuel Corum | Getty Images News | Getty Images States’ early withdrawals from federal unemployment programs in recent weeks are helping Senate lawmakers finance upgrades to the nation’s infrastructure, according to legislative text unveiled Sunday. Twenty-six states, largely Republican, have pulled out of pandemic-era programs since mid-June. The American Rescue Plan offered federal unemployment assistance

pcess609 If nothing changes, the federal government’s break from payments for student loan borrowers will come to an end next month. For the first time since March 2020, when the coronavirus pandemic hit the U.S. and crippled the economy, millions of borrowers will have to resume paying their monthly bills. The typical federal student loan

In this article AXP The South Rim in Grand Canyon National Park in Arizona. Westend61 | Westend61 | Getty Images Summer travel is back, big time. That’s according to a survey released Tuesday by American Express Travel, where consumer travel bookings have reached 95% of May 2019 levels. But while affluent Americans are itching to

Los Angeles County Regional Food Bank workers help with food distribution in Willowbrook, California on April 29, 2021. FREDERIC J. BROWN | AFP | Getty Images Millions of jobless Americans are poised to lose Covid-era income support in about a month’s time. This impending “benefits cliff” appears different from others that loomed this past year,

As the delta variant drives new Covid cases across country, the pandemic’s economic impact continues to weigh heavily on college enrollment. Now, with another class of undergraduates set to start classes in the fall, families are once again struggling with the cost. Nearly two-thirds of parents, or 63%, said their child’s post-high school plans have

teekid | E+ | Getty Images Although the national ban on evictions that’s been in effect for almost a year will expire tomorrow, there’s still time for struggling renters to apply for federal aid. Congress has allocated more than $45 billion in rental assistance to address the crisis, and only a sliver of the money

In this article Rauf Karimov | iStock | Getty Images With the national eviction ban expiring today, Leopold expects he and his wife, Vivia, and their six young children, will be forced out of their home in Deerfield Beach, Florida, where they’ve lived for the past three years. They’re one of millions of families in

Stefani Reynolds/Bloomberg via Getty Images The IRS began issuing another 1.5 million tax refunds this week to people who received unemployment benefits in 2020. That adds to the nearly 9 million refunds, worth about $10 billion, the agency sent since May. Funds delivered by direct deposit this week started hitting bank accounts on Wednesday, and