Personal finance

A City College of New York graduate takes a selfie during the commencement ceremony. Mike Segar | Reuters Newly minted college graduates should feel pretty good about their job prospects. The U.S. economy just notched another month of job gains, and although the unemployment rate edged up to 3.9%, “the streak below 4% has continued
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US President Joe Biden gestures after speaking about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024.  Andrew Caballero-Reynolds | AFP | Getty Images President Joe Biden hopes to start forgiving the student loans of millions of Americans before the November presidential election. But first his administration will need
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There’s a massive wealth transfer underway. “It has started and it’s only going to accelerate,” said Liz Koehler, head of advisor engagement for BlackRock’s wealth advisory business. Baby boomers are set to pass more than $68 trillion on to their children. And yet, some millennials and Generation Z may not be inheriting as much as they think. Recent
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NYPD officers in riot gear enter Columbia University’s encampment as they evict a building that had been barricaded by pro-Palestinian student protesters in Los Angeles, United States on April 30, 2024.  Shay Horse | Nurphoto | Getty Images Some college students protesting Israel’s war in Gaza have faced disciplinary action in recent weeks, with universities
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Laylabird | E+ | Getty Images Inherited individual retirement accounts can be a financial boost for heirs, but the windfall can trigger tax issues, experts say. Withdrawals from pretax inherited IRAs incur regular income taxes. Since 2020, certain heirs can no longer “stretch” retirement account distributions over their lifetime to reduce yearly taxes. Now, certain
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People leave a Social Security Administration building in Burbank, California.  Valerie Macon | Afp | Getty Images The trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected, according to the annual trustees’ report released on Monday. At the projected
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Rebekah Alstede Modery, left, and Sarah Alstede, sisters and co-owners of Alstede Farms in Chester, New Jersey. Courtesy: Alstede Farms Sisters Rebekah Alstede Modery and Sarah Alstede were raised on a New Jersey farm. This year, they decided to spend their careers there, too. Rebekah graduated in 2023 with a double major in agricultural business
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In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Nebraska, on May 5, 2019. Nati Harnik | AP Warren Buffett is widely praised for his investment acumen. But one of the biggest
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JGI/Jamie Grill If you’ve opted into your employer’s matching 401(k) Roth contributions this year, it could trigger a tax surprise without proper planning, experts say.  Enacted in 2022, Secure 2.0 ushered in sweeping changes for retirement savers, including the option for employers to offer 401(k) matches in Roth accounts. These accounts are after-tax, meaning employees
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Teacher teaching her students in art class at school. Fg Trade | E+ | Getty Images The popular Public Service Loan Forgiveness program began a partial processing pause on May 1, which will likely run through July, the U.S. Department of Education recently said. The temporary suspension comes as the Biden administration overhauls the once-troubled
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The US Department of Education sign hangs over the entrance to the federal building housing the agency’s headquarters on February 9, 2024, in Washington, DC.  J. David Ake | Getty Images If your current federal student loan servicer is Mohela, or the Missouri Higher Education Loan Authority, the U.S. Department of Education said it will
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The Federal Reserve held rates steady Wednesday — again deciding not to cut — which means anyone who carries a balance on their credit card isn’t getting a break from sky-high interest charges. “It is becoming clearer and clearer that the Fed isn’t going to lower interest rates anytime soon,” said Matt Schulz, chief credit
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Internal Revenue Commissioner Danny Werfel speaks during his swearing in ceremony at the IRS in Washington, D.C., on April 4, 2023. Bonnie Cash | Getty Images News | Getty Images The IRS has released an update on its strategic operating plan, which outlines “major accomplishments” in taxpayer service, technology and enforcement since its infusion of
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Ascentxmedia | E+ | Getty Images Many people claim Social Security retirement benefits at the earliest possible claiming age of 62. But that decision prompts their monthly benefits to be reduced for the rest of their lives. Working with a financial advisor should help encourage prospective beneficiaries to understand the value of delaying their benefit
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