Personal finance

Getty Images Saving for retirement is crucial. Yet trying to figure out the best retirement plan may leave many people confused. You may have the option to contribute to an employer-sponsored plan, like a 401(k) plan. There are also individual retirement accounts: the traditional, into which contributions are made pre-tax, and Roth IRAs, in which

Miami resident Willie Mae Daniels, with granddaughter, Karyah Davis, 6, was laid off from her job as a food service cashier at the University of Miami on March 17. Joe Raedle | Getty Images News | Getty Images In just the past six months, more than 22 million American jobs have been lost, and fewer

Getty Images If you’ve thought about refinancing your mortgage, be aware that it may soon be a more expensive proposition. Due to a 0.5% “adverse market” fee, effective Dec. 1 and imposed on lenders by mortgage backers Fannie Mae and Freddie Mac, many homeowners are expected to absorb at least some of the cost when

Democrats and Republicans still haven’t reached a deal on another stimulus package. Al Drago/Bloomberg via Getty Images It’s a scary time for millions of Americans as Congress is still unable to reach a compromise on a stimulus package that could include another round of direct payments and more unemployment benefits.  Jobless rates are still high,

With the fall semester just underway, and cases of coronavirus rising at colleges across the country, one school after another is pivoting to distance learning. That doesn’t sit well with students who signed up for — and paid for — on-campus instruction. Although Virginia Commonwealth University adopted a hybrid approach with a combination of in-person and

The New York Stock Exchange. Andrew Burton | Getty Images The financial markets are rising and the economy is falling. What is with this disconnect between the two? Many investors may be asking themselves if this is all a cause for concern. So, what’s an investor to do? To begin with, the financial markets were

Niko_Cingaryuk | iStock | Getty Images The stimulus stalemate has turned into a high-stakes political battle in an election year. But if Democrats and Republicans are able to come to a compromise, Americans could receive more money as soon as October. The crux of the disagreement comes down to how much and what kind of

Senate Minority Leader Chuck Schumer, D-N.Y., and Sen. Elizabeth Warren, D-Mass., announced a resolution Thursday that would broadly cancel federal student loan debt during the coronavirus crisis.   The resolution calls on President Donald Trump to take executive action to forgive up to $50,000 in debt for borrowers. The economic aftermath from the pandemic, which caused

David Paul Morris/Bloomberg via Getty Images $100 threshold Perhaps the most significant barrier is a restriction that limits the subsidy to people who currently receive at least $100 a week in unemployment benefits from the state or another program. The policy is a departure from the $600 enhancement, which was enacted by the CARES Act

Getty Images Working parents are feeling the sting of the coronavirus pandemic — and it’s hitting women especially hard. School shutdowns have left many trying to juggle work, childcare and helping their kids with distant learning. Since the crisis began,  40% of working parents have had to change their employment situation, according to a new

The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero for as long as it takes to help the economy bounce back from the coronavirus crisis. The Fed said the ongoing coronavirus pandemic will “weigh heavily” on the near-term outlook and poses “considerable risks” for the medium term. In addition to holding rates near rock bottom, the

Hundreds of jobless people wait outside the Kentucky Career Center for help with their unemployment claims on June 19 in Frankfort, Kentucky. John Sommers II/Getty Images Americans who are hoping for more financial assistance may have to wait until after the November election before Congress can strike a deal. Yet experts say continued financial assistance

Those with private student loans find themselves in a difficult situation during the pandemic. fizkes | iStock | Getty Images The U.S. Department of Education has said that people with federally held student loans don’t need to resume making payments until 2021. For the millions of Americans with private student loans, the bills are still

A driver navigates along a flooded road as the outer bands of Hurricane Sally come ashore on Sept. 15 in Bayou La Batre, Alabama. Joe Raedle | Getty Images If you’re a homeowner in Hurricane Sally’s anticipated path, you may want to add insurance-claim preparation to your pre-storm to-do list. The slow-moving Category 1 storm

shapecharge | E+ | Getty Images As households struggle to make ends meet,  more Americans have been forced to halt or raid their retirement savings in this coronavirus-induced recession. Nearly 3 in 10 people have decreased the amount of money they’re setting aside for retirement or stopped saving altogether due to the economic fallout of

These days, the idea of packing your bags and retiring to an exotic location might sound tempting. While coronavirus restrictions have put a damper on travel, people are certainly planning, or at least accessing their options, for when the pandemic passes, said Dan Prescher, senior editor at the expat website International Living. The site has

This year, Christmas might not be so merry for the travel industry. While Labor Day travel was down only slightly this year, the upcoming winter holidays could be a different story. That’s according to figures from vacation property management software firm Guesty. The firm found that Labor Day accommodations bookings were 5% lower than in

Hero Images | Hero Images | Getty Images Retirees with a heavy reliance on U.S. Treasury bonds for income may want to rethink their investment strategy. With yields on Treasurys at historically low levels, these stalwart income-producers may be doing less for you than you intend. While they still provide the safety you might seek,

When I drove my son to school for the first time since March, I was overcome with gratitude for the faculty and staff who have worked countless hours preparing to bring students back to the classroom safely. As a mother, sending my child to school in-person this fall felt like the greatest gift — even

Kathrin Ziegler | Stone | Getty Images Life gets a bit more complicated when you’re in your 30s. You may get married, have children or buy a house. You may also still be carrying student debt. On top of it all, you are supposed to be putting money aside for retirement. “Retirement is going to