Étiquette : Personal saving

  • Thinking about buying a car? Here’s what experts say you need to know

    Thinking about buying a car?  Here’s what experts say you need to know

    A customer is shown a 2022 Toyota Prius at Longo Toyota in El Monte, CA on Wednesday, March 23, 2022. Medianews Group | Orange County Register via Getty Images People spend a lot of money on their cars and trucks. In fact, about 16% of the average American’s total budget goes to transportation, including vehicle […]

  • Inflation fears force Americans to rethink financial choices: Survey

    Inflation fears force Americans to rethink financial choices: Survey

    Robyn Beck | dpa | Getty Images Surging inflation has Americans reconsidering how they spend their money. The Consumer Price Index, which measures a wide-ranging basket of goods and services, jumped 7.9% in February from 12 months prior. Prices are going up on everything from the food you put on the table to the gas […]

  • Social Security retirement age reaches 67. Some say it may go higher

    Social Security retirement age reaches 67. Some say it may go higher

    Many Americans eagerly look forward to a time when they can stop working and officially set their status to « retired. » But when asked what age they anticipate that could be, there isn’t a consensus. The average age when people say they hope to retire is 62, according to one survey. That is also the age […]

  • Saving for retirement is top financial priority for just 17% of adults

    Saving for retirement is top financial priority for just 17% of adults

    Monthirayodtiwong | Istock | Getty Images Saving for retirement appears to be taking a backseat to other financial considerations for many Americans right now. Just 17% have made saving for their post-working years their top financial priority for 2022, according to First National Bank of Omaha’s latest financial wellness survey. This is despite 59% of […]

  • House is set to vote on a new retirement bill. What to know

    House is set to vote on a new retirement bill.  What to know

    shapecharge | E+ | Getty Images Legislation that would improve the retirement savings system for US workers may get a vote in the House of Representatives this week. The House could vote on the Securing a Strong Retirement Act, or Secure Act 2.0, as early as Tuesday. « By expanding automatic enrollment in employer provided retirement […]

  • When to increase your house budget and when to stick to your plan

    When to increase your house budget and when to stick to your plan

    Mikolette | E+ | Getty Images Prior to the pandemic’s red-hot housing market, there was a simple profile that constituted an « A » buyer, according to Brian Copeland, a realtor in Nashville, Tennessee. « Four years ago, an ‘A’ buyer was someone who was pre-qualified for a loan, had 3% down and could go out this weekend […]

  • There’s a tricky ‘virtual currency’ question on your tax return

    There’s a tricky ‘virtual currency’ question on your tax return

    Marko Geber | Digital Vision | Getty Images The IRS has issued a warning about how to answer the cryptocurrency question on the front page of your tax return. You’ll need to respond to a yes-or-no question about virtual currency, regardless of whether you « engaged in a transaction » in 2021, according to the agency. And […]

  • Americans are pausing investments because of the Russia-Ukraine war

    Americans are pausing investments because of the Russia-Ukraine war

    The ongoing Russia-Ukraine war is degrading Americans’ financial outlook, sparking the desire to save more and postpone investing, according to a survey from MassMutual. But steering clear of stock market volatility may be a mistake, financial experts say. Two-thirds of Americans worry the conflict will hurt their wallets, with nearly half eager to save more […]

  • Meet the company that lets you work remotely from anywhere in the world

    Meet the company that lets you work remotely from anywhere in the world

    Sevdha Thompson, digital producer of marketing for Coalition Technologies, spent a few weeks working in Costa Rica last year. Courtesy: Sevdha Thompson Millions of Americans are quitting their jobs and rethinking what they want when it comes to work and work-life balance. Companies are responding, meeting their employees’ needs in areas like remote work, flexible […]

  • Considering a Roth IRA conversion? Here’s how to reduce the tax bite

    Considering a Roth IRA conversion?  Here’s how to reduce the tax bite

    If you’re considering a Roth conversion, your timing and yearly planning can significantly reduce the tax bite, financial experts say. The popular retirement savings strategy allows higher earners to skirt the income limits for Roth individual retirement account contributions. While the maneuver may kickstart tax-free growth, you’ll owe levies on pretax deposits. And boosting your […]