Personal finance

JGI | Jamie Grill | Blend Images | Getty 401(k) plans hold a whopping $7.7 trillion in retirement savings. But cash-outs of small accounts pull billions from the system each year and can harm investors’ chances of a secure retirement, research shows. A trio of the industry’s largest 401(k) administrators — Fidelity Investments, Vanguard Group
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Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing. Tom Williams | Pool | Reuters Senate Finance Committee Chairman Ron Wyden, D-Ore., has outlined five priorities for the nearly $80 billion in IRS funding enacted in August through the Inflation Reduction Act.  Wyden shared expectations for
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Zoom In IconArrows pointing outwards TreasuryDirect With record demand for Series I bonds, an inflation-protected and nearly risk-free asset, the U.S. Department of the Treasury has unveiled a front-end makeover for TreasuryDirect, the online platform investors use to buy assets. While the Treasury still plans future system upgrades, Tuesday’s revamp focuses on website navigation, more concise information and
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Portra | E+ | Getty Images If you’re retired and haven’t made the necessary quarterly estimated tax payments for 2022, there may still be time to avoid late penalties, experts say. Retirees must send tax payments four times per year if they don’t withhold enough from Social Security, pensions, investments or other sources of income. 
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Hurricane Ian is shaping up to be the costliest Florida hurricane since Andrew in 1992. Wind and storm surge damage in the state are estimated between $28 billion and $47 billion dollars, according to a Sept. 29 estimate from CoreLogic. With that level of destruction, property owners are advised to make any claims to insurance
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Arizona Attorney General Mark Brnovich has brought a legal challenge against the President Joe Biden’s sweeping student loan forgiveness plan, possibly putting the administration’s proposal to wipe out much of the debt of tens of millions of borrowers in jeopardy. “This mass debt forgiveness program is fundamentally unfair, unconstitutional and unwise,” Brnovich said in a
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A recession is a very real possibility. As the Federal Reserve aggressively raises rates to combat persistent inflation, the tough stance could come at a price. Already, falling stock markets have wiped out more than $9 trillion in wealth from U.S. households. Fed Chairman Jerome Powell also warned the central bank’s upcoming moves to fight soaring prices may
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Catherine Mcqueen | Moment | Getty Images It’s easy to transfer cash when a charity pulls at your heartstrings. But other giving strategies may provide a bigger tax break, financial experts say. Despite economic uncertainty, nearly 70% of Americans plan to donate a similar amount to charity in 2022 as last year, according to a
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Cavan Images | Cavan | Getty Images It’s no secret that money issues can add stress to a relationship. But a new survey from The Knot, a wedding planning website, finds couples say certain moves are deal breakers in their relationships. The top unforgiveable move, with 43% of respondents, is acting secretive or dishonest about
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A graduate who calls himself “April Vendetta” protests student debt in New York’s Washington Square Park on May 19, 2021, after New York University’s virtual commencement ceremony. Timothy A. Clary | AFP | Getty Images Federal student loan borrowers whose loans are not held by the U.S. Department of Education will no longer be able
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In this article CTRN Follow your favorite stocksCREATE FREE ACCOUNT In a war for talent, employers are drastically expanding their benefit offerings to attract and retain workers. Free college may be the most effective tool yet. Most recently, nationwide pizza chain Papa John’s announced it is offering fully funded degrees from partner schools, including the
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JGI/Tom Grill The IRS skipped about $3.7 billion in advance child tax credit payments for 4.1 million eligible households, but sent more than $1.1 billion to 1.5 million filers who didn’t qualify in 2021, according to an audit released Tuesday by the Treasury Inspector General for Tax Administration. However, the agency accurately issued 98% of
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Leopatrizi | E+ | Getty Images As part of President Joe Biden’s historic student loan forgiveness plan, up to 8 million people could get automatic debt relief, according to the White House. Across the board, most people with federal student debt will be eligible for some forgiveness: up to $10,000 if they didn’t receive a Pell Grant,
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