Getty Getty These are literally the 5 worst ways to pay off student loans. Here’s what you need to know – and what to do about it. 1. Pay only the minimum payment What’s wrong with only paying the minimum payment? After all, that’s your obligation, right? Remember: interest is always accruing on your principal
Taxes
The world’s second-richest person saw his own net worth double over the past decade. Mike Cohen/Getty Images for The New York Times Topline: Microsoft co-founder Bill Gates, the world’s second-richest person, has yet again weighed in on the wealth tax debate, this time arguing that he and his fellow billionaires should in fact pay higher
Share to facebook Share to twitter Share to linkedin Illinois is the eleventh state (plus D.C.) to legalize cannabis in the U.S. Maskur Has/Getty Images Topline: Illinois said $3.2 million worth of legal marijuana was sold on Tuesday, the first day the drug could legally be purchased for recreational use in the state, as a
Share to facebook Share to twitter Share to linkedin As the old adage goes, “trade wars have no winners.” STR/AFP via Getty Images Topline: As the Sino-American trade war dragged on last year, it weighed on both the U.S. and Chinese economies (as noted in this CNBC analysis): GDP growth has slowed, manufacturing declined and
Economic Security Planning, Inc. Today’s column addresses questions about filing a restricted application for spousal benefits only after filing for and suspending a retirement benefit, effects of low income before filing, survivor’s benefits, conflating filing and suspending with restricted applications and the earnings test. Larry Kotlikoff is a Professor of Economics at Boston University and
Five years. For half a decade I’ve ushered in the New Year by doling out a bunch of advice, a position of responsibility that feels unwarranted given that just hours ago, I nearly drove into the back of a parked car because I was trying to recover a fallen Starburst. Deserved or not, it’s always
Getty Most likely you will pay your Social Security taxes all year round. But some high earners will stop paying a few hours after we ring in the New Year, many before we return to work in the new year. Social Security benefits are paid by the FICA tax, which is 12.4% of pay (split
Getty Better late than never: The Internal Revenue Service (IRS) has issued the 2020 standard mileage rates. Beginning on January 1, 2020, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 57.5 cents per mile for business miles driven (down from 58 cents in 2019) 17 cents per mile
Wall Street’s famous Charging Bull (Photo by William Volcov/Brazil Photo Press/LatinContent/Getty … [+] Images) 2017 Brazil Photo Press 2019 was a very good year for the stock market with the Dow 30 Industrials increasing 22.3%, the S&P 500 up 28.9% and the NASDAQ 35.2%. As we enter 2020 there is increased optimism about the markets
PARIS, FRANCE – DECEMBER 26: In this photo illustration, the microblogging social network Twitter … [+] logo is displayed on the screen of a smartphone on December 26, 2019 in Paris, France. (Photo by Chesnot/Getty Images) Getty Images There was a lot of tax talk in 2019 – especially on social media. From Bitcoin to
Wealth inequality is on the rise and those with wealth could make a difference. Investing in higher … [+] education would be a great step to level the playing field. Getty Wealth inequality has been on the rise for decades. Since the 1980s, nearly all of the rise is due to the increase in wealth
Getty The 12 Days of Charitable Giving for 2019 has officially wrapped. Here’s the complete list of charities in the series: Thank you to everyone who submitted a nomination for their favorite charity. This was one of the busiest years for the series: I received numerous submissions. I reviewed every nomination carefully and tried to
Concern about the $100 billion Mormon horde, the “scandal” I have dubbed EnsignGate seems to still be a thing. I have a little more to share on it, but I would also like to do a bit of review of my Mormon coverage. I have made an attempt to stake a big claim to the
Share to facebook Share to twitter Share to linkedin Growing trends like 5G and cloud software will change the game, according to analysts. Forbes Topline: Leading technology giants like Apple, Microsoft and Google have led the way for the stock market’s rally in 2019, but heading into next year, transformational trends like 5G, cloud computing
Getty There is a ritual that often occurs in high net worth households in the final weeks of the year. It can be a check in the mail or tucked inside a Christmas present. At other times, it may be a deposit into a 529 plan or a trust without the beneficiary knowing. Regardless, we are at the
Getty It’s the twelfth (and last) day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is Legal Aid of North Carolina. Legal Aid of North Carolina (LANC) provides free legal help to low-income North Carolinians
Top stock picks for 2020, from some of the best portfolio managers. Getty The stock market went on a tear in 2019. Major indexes hit numerous record highs in the second half of the year with the S&P 500 rising more than 29%. This puts it on track to be the best yearly return since
Getty It’s the eleventh day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is Hands Up for Haiti. Hands Up For Haiti (HUTF) began in 2010 when a small team of doctors, nurses and other
Share to facebook Share to twitter Share to linkedin Financial consulting concept. Compass needle pointing the word gains over black background with blur … [+] effect Getty In this post, we will take a deep dive into what’s covered under the “sell” category of the crypto question on Schedule 1 and outline taxable and non-taxable transactions. Note that
Starting in 2020, beneficiaries who inherit a retirement account from a parent or relative can no … [+] longer take distributions over their lifetime. Instead, they will be required to deplete the account in 10 years. Getty The Secure Act, which was signed into law in December 2019, brings about several major changes to the