Rockaa | E+ | Getty Images Many taxpayers qualify for free filing options If you’re eager to file your taxes for free, there are several options for your 2024 filing, according to financial experts. This season, more than 30 million taxpayers may be eligible for Direct File, the IRS’ free tax filing program, according to […]
Why some call it phantom wealth
Millennials have come a long way since their days of being called lazy or entitled. Despite reaching key milestones later than their parents once did, they are now wealthier than previous generations were at their age. “Younger families in the U.S. made remarkable gains,” according to an analysis of 2022 data by the St. Louis Federal […]
Retirees may feel it’s not enough
Sporrer/Rupp | Image Source | Getty Images Millions of Social Security beneficiaries have now received their first benefit checks for 2025. The new 2.5% cost-of-living adjustment — which adds $50 per month to retirement benefits on average — marks the lowest increase since 2021, when inflation spiked shortly thereafter. With prices still high, many beneficiaries […]
Here are key changes for investors nearing retirement in 2025
Miniseries | E+ | Getty Images Leverage the 401(k) ‘super catch-up’ For 2025, investors can save more with higher 401(k) plan limits. Employees can defer $23,500 into 401(k) plans, up from $23,000 in 2024. The catch-up contribution limit is $7,500 for workers ages 50 and older. But thanks to Secure 2.0, there’s a “super catch-up” […]
How an emergency fund can alleviate financial stress
Hispanolistic | E+ | Getty Images Many young adults have financial stress, and experts say there’s a simple safety net that could help. About 61% of surveyed Americans of ages 18 to 35 are financially stressed, according to a new Intuit survey. About 21% of respondents say their stress has gotten worse over the past year. […]
How to know if a rental listing is a scam, fraud experts say
Eleganza | E+ | Getty Images It’s exciting to find a new place to rent in your neighborhood or in a new city. That is, of course, unless you get duped. In so-called rental listing scams, scammers will make up listings that aren’t available for rent or simply do not exist in order to fraudulently […]
Here’s what you need to know about financial influencers
Jaap Arriens | Nurphoto | Getty Images TikTok’s fate is still uncertain. While the Supreme Court last week upheld the law that effectively bans TikTok from the U.S., one of Trump’s first actions as president was an executive order to pause the ban for 75 days, starting Jan. 20. The app’s future may shift how […]
Student loan relief most at risk under Trump, experts say
US President Donald Trump holds up outgoing President Joe Biden’s letter as he signs executive orders in the Oval Office of the WHite House in Washington, DC, on Jan. 20, 2025. Jim Watson | AFP | Getty Images With President Donald Trump back in the White House and Republicans in control of Congress, experts worry […]
How Trump’s second term could mean the downfall of the FDIC, CFPB
Sweeping changes may be in store once President-elect Donald Trump takes office. Among them could be the closure of numerous federal agencies and regulators. Trump will be sworn in for a second nonconsecutive term in the White House on Jan. 20. Already, he has suggested major cuts to federal spending. To that end, Trump named Elon Musk and Vivek Ramaswamy co-chairs of […]
Cities where you can quickly save a 20% home down payment
Cofotoisme | E+ | Getty Images How long it takes you to save for a 20% down payment on a home depends in part on where you live. In a pricey area such as New York City, it could take the typical buyer roughly 10.85 years to save $173,000, which is 20% of the median […]