Jeff Mccollough / EyeEm | EyeEm | Getty Images The IRS is finally ready to make good on threats to strip U.S. passports from Americans who owe more than $52,000 in overdue taxes. The tax collector and the State Department are escalating enforcement of the Fixing America’s Surface Transportation (FAST) Act. This law enables them
Personal finance
Even with the jobless rate at 3.7%, near a 50-year low, you may have to speak up if you want to get a raise in the year ahead. Wage growth has been sluggish throughout the economic expansion, only recently breaking 3%, despite low unemployment and a tight labor market. Still, most of those gains have
Fertnig | E+ | Getty Images Some people are just fine with paying a little extra to the tax man. In fact, 42% of adults polled by NerdWallet said that they would prefer to overpay on federal income taxes, even if it means they’re taking home less money for the entire year. The personal finance
sarahwolfephotography | Moment | Getty Images For many women, financial security is one of the biggest considerations that factor in when deciding whether to stay in an unhappy marriage or divorce. As a result, a significantly large number of women stay in marriages that are unhealthy and even border on dysfunctional. Various studies show that
For some retirees who are on Medicare, the workforce ends up beckoning them back — and one result can be employer-sponsored health insurance. While that coverage could mean you (and your spouse) are able to drop parts of Medicare and pick them back up again down the road without paying penalties, the move might come
RichVintage | E+ | Getty Images The Great Wealth Transfer is coming. About $68 trillion in U.S. wealth is expected to change hands in the next 25 years, according to research firm Cerulli Associates. Yet as wealthy individuals plan for how to pass on those assets, many are not discussing it with their heirs. A
If you’re anxious, take a closer look at your money. Maybe it’s making you sad. “Happy money” makes you smile and lifts your spirits when you think about it, says Japanese self-help author Ken Honda. Honda’s main focus is the intersection of personal finance and happiness. In his new book, “Happy Money, ” Honda says
When it comes to retirement savings, theory often differs from reality. On average, Americans believe they need $1.7 million to retire, according to a recent survey from Charles Schwab, which looked at 1,000 participants in 401(k) plans nationwide. In fact, “that’s a pretty good number if you average out age and median salary across the
Back-to-school shopping at a Target store in West Hollywood, California. Joe Scarnici | Getty Images Add “learning financial literacy” to your child’s back-to-school to-do list. With only a few weeks left of summer, parents around the country are heading to stores to pick up items on their child’s school shopping list. Families with children in
Six years ago Becky Beach, now 37, was dating a well-dressed business analyst with a fancy car. He proposed with a diamond ring. The relationship soured when he confessed, while house shopping, that his credit was in the gutter. His lavish spending had caused him to rack up $150,000 in credit card debt. “I ended
A string of pending proposals on Capitol Hill could change the way current and future retirees live. But that’s assuming they can first get through both Houses of Congress. The U.S. Capitol Building in Washington, D.C. Adam Jeffery | CNBC And time is ticking as August recess has already begun. After that, there’s just four
An employee works on a display ahead of Black Friday at a Walmart store in Chicago, November 20, 2018. Kamil Krzaczynski | Reuters It’s time to shop — not only for back to school, but for Christmas. President Donald Trump’s latest threat to slap elevated tariffs on a widening selection of Chinese products could mean
Damircudic | Getty Images Headed to college? It’s time to open a student bank account. “Having a bank account is one of the most important first financial literacy steps a person takes,” said Matt Rosenberg, a CPA and member of the American Institute of CPAs’ Financial Literacy Commission. Whether your scholar is moving away for
Image Source | Getty Images Retirement has been on your mind. You’ve been thinking about the right time to finally leave your job, and what the next chapter of your life will be like. Then the trade war between the world’s two largest economies heated up. Your savings went down. And people started talking about
RgStudio | E+ | Getty Images The U.S. may be a big country with a lot for domestic vacationers to experience, yet Americans like to venture abroad, too. More than 40% of U.S. citizens hold passports and, according to the National Travel and Tourism Office in Washington, D.C., and some 93.04 million of them traveled
Getty Images The wealth gap between baby boomers and millennials has become a gulf. Back in 1998, the average household aged 52 to 70 years had a net worth of $747,600, while households in the 20 to 35 age bracket had an average net worth of $103,400, according to a MagnifyMoney analysis of Federal Reserve
Once you’re in your 50s and the end of full-time work is no longer a distant concept, it’s a good time to get serious about planning for the next chapter of life. Whether you intend to entirely leave the work force at some point or keep a foot in it, financial advisors say there are
Sam Edwards | Getty Images For women, the salary gap they face in their working years eventually turns into a retirement savings gap. Only about 6 in 10 women have a plan to keep them from outliving their savings once they retire, according to a recent study by Nationwide Advisory Solutions. Among men, it’s more
Jonathan Shepherd knew his spending and money habits were out of control. What he needed was a plan. “I was going through a pretty strenuous situation, financially,” Shepherd said. The Maryland physician and child psychiatrist not only wanted to set aside money for his future, he also had to save a set amount of each
It’s not necessarily easy to move up in the workplace. At the same time, wading through all the advice on how to do it can be just as daunting. However, according to former Yum Brands CEO David Novak, there are four key things you need to do to be successful. And the more success you