Personal finance

US President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024.  Andrew Caballero-Reynolds | AFP | Getty Images After the Supreme Court blocked President Joe Biden’s first plan to forgive student debt last summer, his administration set out to create a relief package that would

The U.S. Department of Labor headquarters in Washington. Al Drago/Bloomberg via Getty Images The Biden administration issued a final rule on Tuesday that cracks down on the investment advice that advisors, brokers, insurance agents and others give to retirement savers. The U.S. Department of Labor regulation — which follows a rule proposal in October —

Getty Images When it comes to teens and money, there is often a disconnect. Overall, teenagers are taking a greater interest in their long-term financial health — although far fewer understand basic retirement planning. A majority, or 83%, of 13- to 18-year-olds, said they had already thought about their retirement, according to the results of

Jacob Wackerhausen | iStock / 360 | Getty Images If you’ve inherited an individual retirement account since 2020, you could have a shorter timeline to withdraw the money, which can trigger tax consequences. But there are a few things to consider before emptying an inherited account, experts say.  Under the Secure Act of 2019, so-called

Just an inch of floodwater can generate tens of thousands of dollars in property damage. Homeowners trying to move and start over after such a disaster might find a surprising buyer for their home: the government. The Federal Emergency Management Agency, or FEMA, has spent around $4 billion assisting in the purchase of about 45,000

As enrollment deadlines approach, fewer students have figured out how they will afford college next year. Ongoing problems with the new Free Application for Federal Student Aid have delayed financial aid award letters and even prevented many high school seniors and their families from applying for aid at all. As of the latest update, roughly 7.3 million

When President Joe Biden unveiled the details of his Plan B for student loan forgiveness, he revealed that his hope to make some college free was not dead.   “I also want to make community college tuition free so you don’t need loans at all,” Biden said after including free community college as part of his $7.3 trillion budget for

Chicago Federal Reserve Bank President Austan Goolsbee speaks at the Council on Foreign Relations in New York, U.S., February 14, 2024.  Staff | Reuters CHICAGO — The path to 2% inflation is “more difficult” in 2024, said Federal Reserve Bank of Chicago President Austan Goolsbee. “We’re going to get to 2%,” Goolsbee said Friday during

dowell | Moment | Getty Images While the annual rate for newly purchased Series I bonds could fall below 5% in May, the assets may still appeal to long-term investors, experts say. Investors currently earn 5.27% annual interest on new I bonds purchased before May 1. Some experts predict the new rate could drop to around

Jannese Torres is the founder of the blog Delish D’Lites and the podcast “Yo Quiero Dinero.” Photo Jannese Torres In her upcoming book, “Financially Lit!: The Modern Latina’s Guide to Level Up Your Dinero & Become Financially Poderosa,” author Jannese Torres discusses how she became the first woman in her family to graduate from college,

Sporrer/Rupp | Image Source | Getty Images The largest and final cohort of the baby boom generation — 30.4 million Americans — will turn 65 by 2030. And more than half of that group will rely primarily on Social Security for income, according to new researchfrom the Alliance for Lifetime Income. When to claim Social

Artur Debat | Moment | Getty Images The number of centenarians in the U.S. is poised to balloon in coming decades. That longevity poses a big financial challenge for households. By 2054, there will be an estimated 422,000 Americans age 100 and older — more than four times the 101,000 in 2024, according to a

Hero Images | Getty Images The IRS has again waived required withdrawals for certain Americans who have inherited retirement accounts since 2020. It may not be a good thing for heirs, experts say. Before the Secure Act of 2019, heirs could “stretch” retirement account withdrawals over their lifetime, which reduced year-to-year tax liability. Now, certain heirs

Peter Cade | Stone | Getty Images Buyers of newly built homes can come across a number of sticker shocks. In February, the median sale price for new construction sold in the U.S. was $400,500, according to the U.S. Census Bureau and the Department of Housing and Urban Development. More from Personal Finance: Should you

Antonio Suarez Vega | Istock | Getty Images The largest cohort of baby boomers is poised to reach age 65 between now and 2030. And women — who make up 52% of those “peak 65” boomers — are more likely to struggle in retirement compared with their male peers, according to a new economic impact

Jetcityimage | Istock | Getty Images The annual rate for Series I bonds could fall below 5% in May based on the latest inflation data and other factors, experts predict.   That would be lower than the current 5.27% interest on I bond purchases made before May 1, but higher than the 4.3% interest offered

US President Joe Biden gestures after speaking about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024.  Andrew Caballero-Reynolds | AFP | Getty Images The Biden administration has published its new student loan forgiveness proposal, putting it on the path to start clearing debt for millions of borrowers this

A screen displays trading information about shares of Truth Social and Trump Media & Technology Group outside the Nasdaq MarketSite in New York City on March 26, 2024. Brendan Mcdermid | Reuters Trump Media has become the latest stock to watch. But rather than a meme stock — an investment that becomes popular for individual

The federal tax deadline is here — and experts have tips as the IRS braces for a flood of last-minute returns. “On a day like today, April 15, we might see a million returns come in every hour,” IRS Commissioner Danny Werfel said Monday on CNBC’s “Squawk Box.” As of April 5, the IRS received

U.S. President Joe Biden speaks as he announces a new plan for federal student loan relief during a visit to Madison Area Technical College Truax Campus, in Madison, Wisconsin, U.S, April 8, 2024.  Kevin Lamarque | Reuters The Biden administration on Tuesday released the draft text of its new student loan forgiveness proposal, which could reduce or eliminate