Personal finance

Feeling nervous about Monday’s stock market drop and considering a move to cash until you think the worst is past? Think twice. While it’s impossible to predict what stocks will do next, various research shows that missing out on the best-performing days in the market — regardless of when the bad days are — can

If the market’s wild ride has you confused about your next investment move, you aren’t alone. You may be wondering, “Do I really do nothing with my stocks or 401(k), like many advisors suggest? ” or “when is the right time to buy or sell?” No one likes to lose money, but panicking isn’t the

Thanagon Karaket / EyeEm | EyeEm | Getty Images Recession is probably a word you haven’t heard in a while, at least not in the present tense. Yet economic experts fret that one could be coming. And how fast that becomes a reality depends in part on U.S. trade negotiations with China. A global recession

Couple in loungers on a tropical beach at Maldives haveseen | iStock | Getty Images Salary matters, but a third of workers would be happy to lose some pay in exchange for unlimited vacation time. That’s according to the 2019 Vacation Confidence Index released Allianz Global Assistance, which surveyed 1,005 workers online. Among those who

Legislators on Capitol Hill are looking to change a Social Security rule that some say leaves public workers, including teachers, firefighters and police officers, in the lurch when it comes to their retirement income. Rep. Kevin Brady, R-Texas, has put forward a new version of a bill he has advocated for in the past. Its

There’s one market correlation you can count on: When the markets plummet, calls to 401(k) plan providers go up. If you’re like a lot of people, you’re also reaching for the phone — or just looking for reassurance that your nest egg will still be OK. Moyo Studio | E+ | Getty Images Monday’s eye-popping

Lofilolo | Getty Images Most people would blanch at the idea of voluntarily overpaying the Internal Revenue Service more than half a million dollars. A retired accountant chose to write those huge checks to the taxman in a bid to hide money from his soon-to-be ex-wife, according to Peggy L. Tracy, a certified financial planner

When 27-year-old Ramon Gonzales was looking for a new job eight months ago, having access to a retirement plan was high on his list of priorities. Now Gonzales, the floor supervisor for the production team at Red Bay Coffee, has that ability to save. That’s thanks to CalSavers, California’s automatic individual retirement account plan, which

Teen YouTuber Annie LeBlanc Jessica Spohr Annie LeBlanc got her first job at 6 years old. For eight years, she’s posted YouTube videos featuring gymnastics, original songs and various tutorials, amassing subscribers and building a loyal following of almost 3.7 million fans, LeBlanc told CNBC. She’s part of a generation of kids who want to

What makes it so easy to spend money unthinkingly? Everything financial — from internet stores to credit cards to instant payments — is set up to make things as painless as possible, says Brent Weiss, a certified financial planner and co-founder at Facet Wealth in Baltimore. And spending is hardly exempt. “Marketers know this,” Weiss

Mihtiander | Getty Images Managing finances is important, but it’s not how a lot people are using  their time. One in 5 American adults spend more time planning their vacations than managing their finances, according to an online survey of about 1,000 people from MyBankTracker.com. There could be several reasons why people dedicate more time

Student debt likely will be a key issue in the 2020 presidential race. A good portion of the major contenders for a presidential nomination, including Sen. Bernie Sanders, I-Vt.; Sen. Kamala Harris, D-Calif.; former Vice President Joe Biden and Sen. Elizabeth Warren, D-Mass., have supported free college and student debt relief plans. For example, Sanders’

House Ways and Means Committee Chairman Kevin Brady (R-TX) holds up an example of the ‘postcard-sized’ form he wants people to use when filing their taxes during a markup session of the proposed GOP tax reform legislation in the Longworth House Office Building on Capitol Hill November 6, 2017 in Washington, DC. Getty Images The

A new bill in Congress aims to give older Americans a tax break for setting aside money for medical expenses, a strategy many give up when they reach age 65. There would be a trade-off, however. Called the Health Savings for Seniors Act and introduced by Reps. Ami Bera, D-Calif., and Jason Smith, R-Mo., the

Ezra Bailey | Getty Images Stashing the maximum amount into your 401(k) plan is no easy feat — but a handful of taxpayers are making it work. In all, more than 4.6 million taxpayers contributed the maximum amount in their 401(k) during the 2016 tax year, the latest data available from the IRS. Back then,

Graiki | Moment Open | Getty Images Retirees are facing a tough decision: Should they make up for even less growth on their cash by ramping up stock exposure? On Wednesday, the Federal Reserve lowered the federal funds rate — the interest rate banks charge to lend each other money — by 0.25%. The range

Sen. Kamala Harris Elijah Nouvelage | Reuters Student debt has become a central issue in the 2020 presidential campaign. First, Sen. Elizabeth Warren, D-Mass., proposed canceling $640 billion of it. Then Sen. Bernie Sanders, I-Vt., said he’d erase all $1.6 trillion of it. Now Sen. Kamala Harris, D-Calif., has released a plan to forgive student

Philippe Huguen | AFP | Getty Images From beach bags to book bags, students are gearing up to head back to school. For parents, that means opening their wallets. A recent survey from the National Retail Federation anticipates 2019 will be a significant spending year for school and college supplies. The survey of 7,660 consumers,

Retiring as a millionaire may seem like a fantasy rather than a practical financial goal, yet it’s possible with savvy monthly saving. Reaching that milestone, however, takes determination, especially if you don’t start until later in life. Luckily, personal finance site NerdWallet crunched the numbers, broken down by age group, to demonstrate how much you’ll

Ariel Skelley | DigitalVision | Getty Images The CFP Board of Standards, the group overseeing the Certified Financial Planner credential, will overhaul its practices, making it easier for investors to spot financial advisors with a questionable past. In a Tuesday afternoon phone call, the group announced it would establish an independent task force to review