Advisors

D3sign | Moment | Getty Images Taxpayers who use peer-to-peer payment apps like Venmo and PayPal and e-commerce companies such as eBay, Etsy and Poshmark may be receiving a new-to-them tax form next year — one that’s worth some advance planning. Starting this tax year, such companies must use a new, lower threshold when issuing

Articles about emergency funds may have put you to sleep as recently as a year ago. You would have been lucky to find a high-yield savings account paying out 1%-2% at that time.  However, with interest rates soaring, cash investments can post sizable returns, driving some of the highest interest payouts in decades. This is

Getty The annual contribution limit for health savings accounts, or HSAs, will soon get a sizable boost due to inflation, the IRS announced this week. For 2024, the yearly limit for self-only HSA plans is rising to $4,150 from $3,850 in 2023, and the cap for family plans is jumping to $8,300 from $7,750. The catch-up

Skodonnell | E+ | Getty Images I’m a financial advisor. So, I know a thing or two about saving and investing. But I’m also a dad with a college-aged son, and I am starting to see that, now more than ever, I need financial knowledge to help in that role. Saving for college has gotten

Carla Gottgens | Bloomberg | Getty Images Americans are upbeat on gold and have soured on stocks — perhaps to their detriment. Twenty-six percent of Americans ranked gold as the best long-term investment in 2023, almost double the 15% who thought so in 2022, according to a recent Gallup poll. The share surpassed that of

Damir Khabirov After years of low returns, money market mutual funds have recently become more attractive, thanks to a series of interest rate hikes from the Federal Reserve. But some investors worry about increased risk as the debt ceiling debate intensifies. Money market funds — which are different than money market deposit accounts — typically

Enes Evren Many investors are bracing for the economic fallout of the deadline for the U.S. to raise the debt ceiling or default on its obligations. Treasury Secretary Janet Yellen on Sunday said that failing to raise the debt ceiling will cause a “steep economic downturn” in the U.S., reiterating the country’s early June deadline.

Fotostorm | E+ | Getty Images Fears of an upcoming recession and high inflation may be weighing most heavily on single women, according to a financial advisor who works with that demographic. “In times of inflation, the cost of everything goes up, including rent, utility bills, groceries and health care,” said certified financial planner Cathy

Holger Scheibe | The Image Bank | Getty Images A recession may be in the forecast for the U.S. economy, but the big question is when. The Federal Reserve has said the banking crisis may prompt a mild recession later this year. On Wednesday, the central bank raised interest rates by 0.25 percentage point, while

Cecilie Arcurs | Getty Images After another rate hike from the Federal Reserve, advisors are watching closely for signs of future moves by the U.S. central bank that may spark changes for bond portfolios. In its continued battle with inflation, the central bank on Wednesday announced another quarter percentage point interest rate increase. Meanwhile, the

Jose Luis Pelaez | Iconica | Getty Images Saving for retirement often comes with an upfront tax break when funneling money into pretax accounts. But it’s also critical to manage taxes on future withdrawals, experts say. If you don’t need the money, you may delay taking funds from retirement plans until your mandatory yearly withdrawals,

Nitat Termmee | Moment | Getty Images The following is an excerpt from “This week, your wallet,” a weekly audio show on Twitter produced by CNBC’s Personal Finance team. Listen to the latest episode here. Being a “master of cash flow” is a key element of household finance — and also one of the most

Money remains a taboo subject for many people — especially when it comes to discussing finances with the important people in their lives.  Almost two-thirds of couples believe they’re “financially incompatible,” meaning their spending, investing and saving habits aren’t aligned, according to a recent survey. This disparity can lead to uncomfortable situations like not wanting

Republican Sen. Bill Cassidy of Louisiana speaks to the press on Capitol Hill on Feb. 10, 2021. Nicholas Kamm | AFP | Getty Images Social Security’s trust funds have a new projected depletion date that is about a decade away. Sen. Bill Cassidy, R-La., revealed during a Tuesday webcast hosted by the Bipartisan Policy Center

In this article PRU Follow your favorite stocksCREATE FREE ACCOUNT Learning about money is the foundation of financial literacy and the key to achieving financial security. Yet financial education isn’t part of the curriculum in most U.S. schools.   Only eight states have fully implemented a requirement for all high school students to take one semester-long

Prostock-Studio | Istock | Getty Images If you’re eager to funnel as much as possible into your 401(k), some plans have a special feature to save beyond the yearly deferral limit. The 2023 deferral limit for 401(k) plans is $22,500, plus an extra $7,500 if you’re age 50 or older. But an under-the-radar option, known

Sdi Productions | E+ | Getty Images It’s been a grueling period for investors amid rising interest rates and lingering recession fears.  But despite market volatility, it’s still important to think holistically about your finances, including your estate plan, according to New York-based certified financial planner Lazetta Rainey Braxton, co-founder and co-CEO of 2050 Wealth

Catherine Mcqueen | Moment | Getty Images Inflation is gradually falling but remains high, meaning consumers’ budgets continue to be stressed by fast-rising prices. For some, that might mean making tough financial tradeoffs — an exercise that starts by coming to terms with the situation and making an honest assessment of your needs, said Lazetta

Jetcityimage | Istock | Getty Images There’s been record-breaking demand over the past year for Series I bonds, an inflation-protected and nearly risk-free asset. But rates have been falling and the yield will decline again in May, experts say. Newly purchased I bonds currently offer 6.89% annual returns through April, and the yearly rate may

Many people may have heard about the various so-called attachment styles psychologists and sociologists say we display in our closest relationships, such as “anxious attachment” or “avoidant attachment.” It turns out we also tend to follow certain patterns when it comes to our relationship with money, said Brad Klontz, a Boulder, Colorado-based psychologist and certified