Personal finance

10’000 Hours For those who desperately need tax refunds, it can feel like ages before they get the money.  For an unlucky few, the wait has taken months. “We filed a client’s return, and it was accepted on April 14,” said Nayo Carter-Gray, an enrolled agent at 1st Step Accounting in Towson, Maryland. “He finally

Federal Reserve Chair Jerome H. Powell during a speech on March 3, 2020 in Washington, DC. Mark Makela/Getty Images The recession caused by the coronavirus pandemic is playing out across stark — and widening — fault lines in America. Lower earners, those with less schooling, women and minority groups have borne the brunt of the economic

ljubaphoto Travel insurer Seven Corners has started two new products  tailored to vacations in the age of coronavirus: one policy specifically covers medical expenses incurred due to Covid-19 infection while traveling overseas, and another helps motorists as road trips replace flights and cruises as the preferred means of summer and fall travel. “Travel trends, in general,

Some investors see recent volatility as a way to get rich quick. Trying to outsmart the market can end very badly. Last week, 20-year-old trader Alexander Kearns using the Robinhood platform committed suicide after a series of risky options trades left him deep in the red. In the note to his family, he said he had “no

More people will be eligible to take a $100,000 coronavirus-related distribution from their retirement account. The IRS released guidance on Friday which details new rules for individuals affected by Covid-19 to take a withdrawal from a 401(k) plan or an individual retirement account. The CARES Act allows savers to take coronavirus-related distributions – emergency withdrawals

Unlike most people who are now telecommuting due to the coronavirus pandemic, I’ve been working from home for a long time. As in two decades. Between full-time jobs that allowed it (one of them way back in 2000) and freelancing while I raised two children, I’ve truly appreciated the benefits that come with the arrangement

Ungureanu Vadim | EyeEm | Getty Images Many student loan borrowers were suffering when the pandemic shuttered the economy. Americans collectively hold more than $1.6 trillion in student debt. According to credit monitoring service Experian, Gen Z saw their student debt balances increase by 9% from the first quarter of 2018 to the first quarter of 2019 —

Student loan borrowers could see big changes over the next few months. pcess609 Former Vice President Joe Biden made an announcement in April that was mostly drowned out by more and more alarming developments of the coronavirus pandemic: As president, he would forgive undergraduate federal student loan debt picked up at public colleges for those

Oliver Rossi If you inherited an IRA, think before you take that tax-favored $100,000 distribution.  That’s because the relief the CARES Act offers investors who have individual retirement accounts and 401(k) retirement plans isn’t as generous to those who inherit these accounts, according to the American Institute of CPAs. The CARES Act provides several options

This past April was a month Tom Nigro will never forget. As a certified registered nurse anesthetist, Nigro was well-equipped to serve victims of the coronavirus and moved that month from his apartment in Milwaukee to New York City – then the epicenter of the pandemic. On April 8, for example, more than 5,581 New

Jason Stitt | Getty Images Millions of Americans put a second round of $1,200 stimulus checks on their wish lists. But Congress has yet to decide exactly what the next version of coronavirus stimulus legislation will look like. If House Democrats have their way, a second batch of checks would be deployed to qualifying Americans.

Thomas Barwick The disaster some wealthy investors have been preparing for has finally arrived. Since the coronavirus pandemic struck, market volatility has become a regular theme for investors. On March 23, the S&P 500 index plummeted to 2,191.86 – an intraday low – but since then, it’s risen by close to 40%. In anticipation of

Students at the Bradley-Bourbonnais Community High School graduation ceremony on May 06, 2020 in Bradley, Illinois. Scott Olson The future is suddenly looking very different for new high school graduates thanks to the coronavirus pandemic. In fact, 49% of the Class of 2020 have changed their plans as a result of the crisis, according to

Yellow Dog Productions The U.S. economy is restarting and millions of unemployed Americans are returning to work.    Yet that positive trajectory may not last. Many newly employed Americans could be furloughed or laid off again. Officials in areas like New York have discussed renewed lockdown measures as citizens flaunt social distancing rules. Houston may

Gillian Gullett thought she had it all figured out: Graduate from college, move to Seattle to live with her boyfriend, and find a job. After all, the economy was strong and unemployment was matching its lowest level in more than 50 years. Then, the coronavirus crisis hit and jobs dried up. “The pandemic hit around

Labor Secretary Eugene Scalia testifies before a Senate Finance Committee hearing on unemployment insurance on Capitol Hill in Washington on Tuesday, June 9, 2020. (Pool photo by Caroline Brehman-Pool/Getty Images) Amid the recent good news about stronger-than-expected job growth in May, some economists have eyed one labor statistic with a sense of bewilderment. Specifically, the

Restaurants in San Francisco began opening patios and sidewalks to diners for the first time in three months as of June 12. Photographer: David Paul Morris/Bloomberg via Getty Images States are reopening and millions of people have returned to work. In some cases, those workers may be able to continue collecting unemployment benefits. That pay

rudi_suardi For the most part, Americans spent very little during the pandemic — up until now. On Tuesday, May retail sales shattered expectations, jumping 17.7% in the biggest monthly surge ever. President Donald Trump was quick to post on the news.  Nearly half of all consumers had said they were saving more during the coronavirus crisis by

Karen Ducey | Getty Images So you’ve enrolled in Medicare and have determined that a supplement plan — aka, “Medigap” — is an appropriate add-on for you.  There may be more decisions to make. While Medigap policies are standardized regardless of which insurance company sells them and where you live, the premiums can vary from

Larry Kudlow, director of the U.S. National Economic Council, speaks to members of the media outside the White House in Washington, D.C., U.S., on Monday, June 15, 2020. Photographer: Stefani Reynolds/CNP/Bloomberg via Getty Images The Trump administration wants to end enhanced unemployment benefits and replace them with a different policy, according to a senior aide.