Personal finance

New York state governor Andrew M. Cuomo Wang Ying | Xinhua | Getty Images Four blue states that had unsuccessfully sued the IRS over a new $10,000 cap on the federal deduction for state and local taxes filed an appeal on Tuesday. The states — New York, New Jersey, Connecticut and Maryland — originally filed

Senior man celebrates his 90th birthday Urbazon / Getty A change proposed by the IRS could alter how much retirees are required to withdraw each year from their traditional retirement accounts. The reason? People are living longer now than when the agency last issued its tables for required minimum distributions in 2002. As a result,

Sean Locke | Photographer’s Choice RF | Getty Images Instilling sound financial knowledge in children can change the course of their lives. With many families living paycheck to paycheck and debt at record-level highs, it’s more important than ever for kids to learn good financial planning habits. As the holidays quickly approach, some will consider

Guido Mieth | DigitalVision | Getty Images With a New Year comes a new start, and your retirement is no exception. That’s because the limits for pre-tax saving have gone up for aspiring retirees. And those already in retirement will see a modest boost to their Social Security retirement benefits, along with increased Medicare Part

NFL linebacker Brandon Copeland understands the importance of investing his money. In fact, the New York Jet spends about 10% of his salary and saves the rest. “This career can end at any moment. Any money I make I’m trying to extrapolate that out for life, I’m trying to save as much as possible,” he

If you’re daydreaming about how you’d celebrate winning the Mega Millions jackpot, remember that Uncle Sam has a way of crashing the party. After about two months of twice-weekly drawings with no one matching all six numbers, the top prize has climbed to $226 million for Tuesday night’s drawing. Of course, the advertised amount isn’t

Oscar Carrascosa Martinez | Moment | Getty Images When Kelly Smith had a mammogram in February 2018, she got a clean bill of health. Yet that April, as she was putting on lotion, she noticed a lump in her left breast. Several follow-up visits to her doctors confirmed the worst: She had stage 3B breast

It’s a family dynamic that is increasingly becoming commonplace — and can make dealing with financial issues particularly challenging. A spouse — or both — has at least one child from a previous marriage or relationship and together they create what’s known as a “blended family.” Think “The Brady Bunch” – just without the rotary

Oxford University Joe Daniel Price | Getty Images For high-school seniors, the world is their oyster. In fact, a growing number of college-bound students are completing their bachelor’s degrees in foreign lands. Rather than just studying abroad for a semester or two, about 50,000 U.S. students are currently pursuing full degrees abroad, with a little

Tom Werner | DigitalVision | Getty Images If you were diligently saving money for medical expenses all year, you may be about to lose it. A health-care flexible spending account, which you may have access to at work, allows you to save pretax dollars in a savings account. You can take tax-free distributions from the

Medicare beneficiaries have about two weeks left to evaluate their options for 2020 and make changes for the new year. While you don’t need to take any action if you want to stick with your current coverage, experts say it’s worthwhile making sure it will still suit your needs next year — and that there

Many workers don’t need experts to tell them they aren’t putting enough away for their golden years — they apparently already know it. More than half of U.S. adults (52%) say they are behind where they should be when it comes to saving for retirement, according to a new survey from Bankrate.com. Among pre-retirees, the

Moyo Studio | E+ | Getty Images If you have one resolution for 2020, make it to clear the decks on your credit card debt. About 2 out of 3 consumers with credit cards have been toting the same balance or higher over the last decade, according to a recent survey from Bankrate.com. The personal

Despite the partisan noise swirling around the impeachment hearings in Washington, DC, supporters of at least one bill remain hopeful that the divide won’t derail its passage. The Secure Act, as the measure is called, aims to increase the ranks of retirement savers and the amount they put away. While it cleared the House in

Jamie Grill | Getty Images Sometimes it pays to hold off on that holiday bonus. Workers on Wall Street received an average bonus of $153,700 in 2018, according to a report from the New York State Comptroller’s office. That’s down 17% from the prior year — but still enough to make the holidays happier. Meanwhile,

Roger Richter | Corbis | Getty Images Friends don’t let friends buy $3,000 coffee tables. If you’re stuck on a pricey piece of furniture, consider that your money may be better spent elsewhere, like on a solid sofa or a great mattress. Furniture is one of the largest purchases most people make, says Rebecca Hawkins,

Anton Petrus | Moment | Getty Images More than half of Americans are looking for adventure when it comes to travel in 2020, according to a new study from the Travel Channel. “That is up a little bit over last year,” said Mariel Clark, vice president of digital for HGTV and the Travel Channel, noting

Kenneth Fisher, founder, chairman and chief executive officer of Fisher Investments, speaks during a television interview in New York, May 10, 2010. Jonathan Fickies | Bloomberg | Getty Images The Chicago police pension fund is ending its $67 million relationship with Fisher Investments. The Policemen’s Annuity and Benefit Fund of Chicago joins a number of

‘Tis the season to be jolly. Yet, stress is the prevailing emotion. The vast majority, or roughly 70%, of adults are stressed about the upcoming holiday season, mostly thanks to money woes, according to a survey from Country Financial. If money were no object, half of those surveyed said that having one of their debts,

Billionaire hedge fund manager Ray Dalio wants the average investor to learn from the errors of others. In fact, the “biggest mistake” he sees investors make is thinking that markets that went up recently are “better bargains rather than expensive bargains.” “Don’t make the mistake of buying those things that have gone up thinking they’re