Personal finance

Brian Snyder | Reuters With competition at an all-time high and admissions practices increasingly unclear, it’s not an easy time for college applicants. As colleges are being forced to rethink their policies in the wake of the Supreme Court‘s ruling against affirmative action, more schools are also choosing to end legacy preferences, adding uncertainty to the process. “There’s

President Joe Biden holds a Cabinet meeting at the White House on Oct. 2, 2023. Kevin Dietsch | Getty Images President Joe Biden announced Wednesday that he’d approve $9 billion in student loan forgiveness for 125,000 Americans. The relief is a result of his administration’s fixes to a number of programs, including the income-driven repayment

Rep. Jason Smith, R-Mo., speaks during a House Oversight and Accountability Committee impeachment inquiry hearing on Sept. 28, 2023. Jonathan Ernst | Reuters House Republicans are pressing the IRS for answers after the agency paused processing new claims for a pandemic-era small business tax break. Lawmakers voiced “continued concerns” about the employee retention credit, or ERC,

Zoran Zeremski | Istock | Getty Images Retirees who rely on Medicare for health-care coverage may see those benefits diminish in as soon as eight years. “It’s life and death for millions of older Americans,” Sen. Sheldon Whitehouse, D-R.I., said Wednesday during a Senate budget committee hearing. The program’s hospital insurance trust fund, which pays

An activist at the offices of Rep. Michelle Park Steel in Cypress, California, on Feb. 24, 2023 Araya Doheny | Getty Images Social Security is essential to older Americans’ financial security, yet there always seems to be a new headline about how the benefits are at risk. Douglas Boneparth, a certified financial planner and president

The Powerball jackpot hit $1.2 billion on Oct. 3, 2023, the third biggest prize in the game’s history. Scott Olson | Getty The Powerball jackpot has climbed to an estimated $1.2 billion — the third-largest prize in the game’s history — without a winner on Monday night. Among the winner’s big decisions will be the

In many cases, applying early to college can give you an edge. By demonstrating a preference for a particular college, studies have shown, an early application can boost your standing, which goes a long way in the hyper-competitive world of college admissions. “There is certainly an admissions strategy with applying early,” said Shannon Vasconcelos, senior

Taylor Swift performs onstage at Lumen Field in Seattle on July 22, 2023. Mat Hayward/tas23 | Getty Images Entertainment | Getty Images Taylor Swift fans forked out an average $2,183 for a resold ticket to a concert on the superstar’s The Eras Tour, according to resale research site TicketIQ. Now, ticket resellers may owe taxes

Makatla Ritchter wades through flood waters after having to evacuate her home when the flood waters from Hurricane Idalia inundated it on August 30, 2023 in Tarpon Springs, Florida. Joe Raedle | Getty Images Climate change is expected to impose “substantial financial costs” on U.S. households in the coming years, according to a new report

Student loan forgiveness advocates rally outside the U.S. Supreme Court building in Washington, D.C., after the nation’s high court struck down President Joe Biden’s student debt relief program, June 30, 2023. Kent Nishimura | Los Angeles Times | Getty Images Ryan Moran, a nurse in Jacksonville, Florida, hasn’t thought about his federal student loans in

If you’re making $65,000 per year, saving $1 million for retirement might seem out of reach. But with a little dedication and the right timing, it’s certainly possible — if you stick to a clear plan. As a rule of thumb, most financial advisors suggest that you save 10% to 15% of your salary for

U.S. President Joe Biden delivers remarks at Prince George’s Community College on September 14, 2023 in Largo, Maryland. Kevin Dietsch | Getty Images The Biden administration announced on Friday the next step in its new plan to cancel people’s student debt after the Supreme Court struck down its original policy in June. The U.S. Department

Office communication is becoming far more casual, and Gen Z is leading the shift, new research has found. Aleksandargeorgiev | E+ | Getty Images Generation Z is embracing frequent job changes, or job hopping, as a career approach. In fact, 83% of surveyed Gen Z workers consider themselves job hoppers, according to ResumeLab, which polled

The one-year rule is an “archaic belief,” according to career expert Sarah Doody. Courtneyk | E+ | Getty Images PHOENIX — If you’re saving for retirement with a 401(k) or individual retirement account, it’s easy to lose money to taxes and penalties when moving money between accounts. A lot of investors make costly rollover mistakes

Tim Robberts | Digitalvision | Getty Images When it comes to money, women tend to think of themselves as savers rather than investors. Having that perspective can affect women’s ability to grow wealth over time. “The biggest risk to women’s portfolios is that we don’t take enough risk,” said Nancy Tengler, CEO and chief investment

Increasingly, your earnings potential varies greatly depending on your choice of major in college. “Even more so than the school itself, choosing a major is key in determining what skills a graduate can perform out of school, and what types of professions they’re qualified for,” said Jackson Gruver, data analyst at Payscale. “Ultimately, the degree

Customers browse in a used car lot on Feb. 15, 2023 in Glendale, California. Mario Tama | Getty Images News | Getty Images As recently as 2019, used car shoppers could find a 3-year-old vehicle for about $23,000. That’s less likely today — in terms of both age and price. Pandemic-era manufacturing issues have since

Twenty/20 For many Americans, October is a time for seasonal decorating and pumpkin spice lattes. This year, it also marks the resumption of student loan payments at a point when U.S. households are already struggling to make ends meet amid high inflation and higher interest rates. And yet, just as millions of borrowers face their

Martin Barraud | Caiaimage | Getty Images PHOENIX — Retirement security is a concern for many older Americans and outliving savings is often their biggest fear. To that point, some 58% of savers and retirees worry about running out of money, according to recent research from Cerulli Associates. But “retirement spending is not pass-fail,” said

President Joe Biden walks with Labor Secretary Marty Walsh before an event in the Rose Garden of the White House on Sept. 15, 2022. Anna Moneymaker | Getty Images News | Getty Images A Biden administration ESG rule for workplace retirement plans survived a recent court challenge by 26 red states. But the most significant