Personal finance

As the gig economy explodes, it’s easier than ever to be your own boss. But you still have to answer to Uncle Sam. Indeed, the percentage of workers in alternative work arrangements, including independent contractors or freelancers, increased during the 2000s, after barely budging in the 10 years before that, according to a report by

Hoping to avoid a tax surprise for 2019? Talk to your accountant before you use the IRS tax withholding calculator. That’s because user error and failure to consider state and local taxes could result in incorrect adjustments to the income taxes you have withheld at work. The 2018 tax year brought in a host of

Health insurance can get pretty complicated. Typically, the point is to pay some money every month so that when you have an accident or get sick, your medical costs aren’t so expensive that they bankrupt you. Two of the most important terms in health insurance are premiums and deductibles. Your premium is that monthly cost.

Step aside, Florida. New Mexico is the new top retirement destination. Those were the findings from a survey by United Van Lines. The relocation company polled 26,998 of its customers who moved last year, through Nov. 30, 2018. Among those who moved to New Mexico, 42% said they did so because of retirement, making the

It’s a good time to be a graduate. Those armed with a newly minted diploma will enter a job market with unemployment near the lowest level in 50 years and job prospects up significantly from just last year. Employers plan to hire nearly 11% more graduates from the class of 2019 than they did from

In New York City, home to our nation’s financial markets, a staggering 74 percent of its students are considered economically disadvantaged. They are parallel worlds, a few miles apart and largely invisible to one another. This is an increasing challenge across our country: How do we build a path to economic mobility for more of

Chanel Reynolds got the call you never want. Her husband, Jose, had been in a terrible accident and was now in intensive care, irreparably wounded. A week later, with no signs of brain function, he was removed from life support and died. Meanwhile, Reynolds realized they had wills, but they were not signed or notarized.

An alleged $1.2 billion Ponzi scheme that collapsed more than two years ago has resulted in some advisors losing their jobs. In the latest monthly rundown of disciplinary actions taken by the Financial Industry Regulatory Authority, or FINRA, four cases involve brokers who put clients’ money in the Woodbridge Group of Companies, which regulators claim

Political feuding in Washington is keeping Americans up at night. In all, 44% of participants in a recent survey by Bankrate.com said the biggest threat facing the economy over the next six months is the political environment in the nation’s capital. The personal finance site polled 1,000 people over the phone from April 2 to

President Donald Trump has called for a sweeping look at regulation of the energy industry — and that includes investments in retirement plans. In an executive order issued last week, Trump called for the Department of Labor to complete a review of energy investment trends and the fiduciary responsibilities tied to proxy voting to determine

If you’re among the 4.3 million consumers whose car lease ends in 2019, don’t be surprised if going that route holds less appeal this time. With record-high auto prices, higher interest rates and generally weakening residual values on cars, consumers can expect to pay $1,600 more on average for a lease than they did in

Tax season has come and gone — at least for the more than 103 million filers who submitted their returns before April 15. This spring marked the first time taxpayers and their accountants submitted tax returns under the Tax Cuts and Jobs Act. The overhaul of the tax code, which went into effect in 2018,

A college education is likely one of the biggest expenses you’ll face in your lifetime. For many, it also requires going deep into debt. Seven in 10 seniors graduate in the red, owing about $30,000 per borrower, according to the most recent data from the Institute for College Access & Success. And although total student

It probably comes as no surprise that your parents helped shape your financial habits. And a new survey from TD Ameritrade shows that the way your parents handled money is likely the biggest influence on how you manage your own finances now. That tops other events from your early years, including your household’s financial situation,

Drop the avocado toast. Many millennials can barely pay their tax bill. Six out of 10 people in this age cohort don’t have $500 set aside to cover what they owe the IRS for tax year 2018, according to a recent survey from Varo, an online savings bank. The company polled 1,200 U.S. consumers between

If you ask any Republican member of the U.S. House of Representatives or the U.S. Senate what is the most significant fiscal accomplishment of the Trump presidency, the overwhelming answer would be the Tax Cuts and Jobs Act, or TCJA. When passed in December 2017, the TCJA did not have majority American support. Despite this

Nothing is certain but death and taxes, Benjamin Franklin famously said. Today, that adage should also include rising health-care costs. As young adults start saving for the future, the ever-growing price tag of health care can throw a wrench into their plans. They should consider using a health savings account – it’s not the right

New legislation that aims to give workers greater opportunities to save for retirement may put the kibosh on a strategy for passing large individual retirement accounts to heirs. Last week, the House Ways and Means Committee passed a bill known as the Secure Act. Among other things, the legislation would require employers with a 401(k)

Want to pay less to your credit card company? Make a phone call. While most cardholders have not requested a break on either interest rates or fees recently, the majority of those who did ask were successful, a new survey shows. In the past year — a time when interest rates were rising — 81%

Retirement may mean different things to different people, but most agree on one thing. It should be stress-free. However, lack of stress usually comes from years of planning and decades of saving — which not everyone can do. The average savings balance in the U.S. is less than $60,000. Few people can depend on pensions.