To create its look at the rich state-poor state retirement divide, the website compared income from sources such as pensions and 401(k) plans as well as Social Security for Americans age 65 or older. The study found that retirees in the three richest states collect nearly $20,000 a year in Social Security benefits, while those

The goal, he said, is “inspiring and motivating students to figure out what their hobbies are and how to take that to the next level.” The counselors at Command Education are all very recent graduates of the nation’s most competitive schools. The oldest senior counselor is 26. “We’re non-parental,” Rim said. “Because of that, students

If a school offers a student money that’s considered taxable income — perhaps as part of a teaching assistantship or fellowship — then it must provide the student with a Form W-2, reporting taxes withheld. Prior to tax time, your school will also report qualified tuition expenses on Form 1098-T, along with the details on

Big banks are making it easy to zap money to your friends. Maybe too easy. Zelle, a service that allows bank customers to instantly send money to their acquaintances, is booming. Thousands of new users sign up every day. Some $75 billion zoomed through Zelle’s network last year. That’s more than twice the amount of

Ella Tyler found a few surprises in retirement that led her to return to the work force. But like many retirees, the work she’s doing now in no way resembles what she used to do in her professional career. Tyler, 67, had quit practicing law when she moved to Texas after she got married. But

This latest settlement is a reminder to consumers to keep a close eye on the fine print in their loan origination paperwork, whether they’re borrowing for a home or a car. For instance, when you apply for a mortgage, the lender may offer you a “rate lock” for 30 to 45 days, meaning that your

Others feel the trade-off is worth it. This voluntary paid leave system would deliver an important benefit to parents without disrupting businesses or burdening taxpayers, said Carrie Lukas, president of the Independent Women’s Forum. “This approach is about reforming our entitlement system to make it more flexible and modern and responsive to the needs of

This can be troublesome if there is a mismatch. “Taking on more risk than you’re comfortable with could cause you to panic and sell at the wrong time,” said Jim Shagawat, a certified financial planner, and president of Windfall Wealth Advisors in Paramus, New Jersey. “Taking on too little risk could lead to lower returns

However, he points out that the SEC’s proposals do not create a uniform standard that both brokers and investment advisors would have to adhere to. Instead, it would add requirements to the suitability standard that fall short of the fiduciary mandate imposed on investment advisors. Broadly, these are the SEC’s proposals: 1. “Regulation Best Interest”

And he’s not alone, 85 percent of student loan borrowers say difficulty in saving has delayed their ability to buy a house, according to the Realtors association. “It’s challenging with student loans to be able to put together $40,000,” said Grant Simmons, vice president of search marketing for Homes.com. (The median home price in America

When sexual harassment allegations against Hollywood film producer Harvey Weinstein came to light, the #MeToo movement took off — and its reach has been far and wide. Still, it’s not exactly taking off in the office, according to one study. Although 90 percent of companies have a sexual harassment policy in place, more than 1

While April 19 is the national Tax Freedom Day this year, there’s huge variance when any individual will reach that point. Generally speaking, the more you earn, the longer you work into the year before getting there. Where you live makes a difference, as well. For instance, in Louisiana and Alaska (which tied for first),

New York Attorney General Eric Schneiderman announced on Tuesday that he is investigating at least 13 cryptocurrency exchanges, including the popular platform Coinbase. “Too often, consumers don’t have the basic facts they need to assess the fairness, integrity, and security of these trading platforms,” Schneiderman said in a statement. Schneiderman said he hopes to make

Starting this week, some consumers may have a higher credit score. Because of improved standards for utilizing new and existing public records, the three major credit reporting companies are now excluding all tax liens from credit reports. That means some scores will head higher, for some by as much as 30 points. Credit scores, notably

Despite the uncertainty, strong feelings about the new rules have already formed. A little more than half of Americans say they disapprove of the change, while nearly 40 percent favor it. Support for the legislation also varies widely by party. Nearly 80 percent of Republicans approve of the new tax law, compared with just 15

The first hit: Pricier autos. The average price paid for a new car reached $34,623 in March, according to Edmunds. Five years ago, that number was $31,078. Then there are the loans, which can be a triple whammy. Rising interest rates make borrowing more expensive. Last month, interest rates on new-car loans stood at 5.7

A spokesperson at Intuit’s commercial tax preparer TurboTax said that the IRS’s technical difficulties affects all tax preparers and tax returns. “Taxpayers should go ahead and continue to prepare and file their taxes as normal with TurboTax,” the spokesperson said. “TurboTax has uninterrupted service and is available and accepting e-filed returns,” she said. “We will

“It’s horrific,” Wofford said “There are disabled veterans who served their country who are financially struggling — and sometimes destitute — who are legally entitled to have their student loans forgiven but it’s not happening.” Indeed, there are likely “tens of thousands” of severely disabled veterans who aren’t aware of their federal student loan forgiveness

(Update: Treasury Secretary Steven Mnuchin told the Associated Press late Tuesday that online tax filers would get an extension from the IRS. Click here for details.) Hours before the midnight Tax Day deadline, the IRS page for paying your tax bill using your bank account crashed. The IRS “Direct Pay” page allows filers to transfer

The ranking is based on median home prices from Zillow’s most recent data. Monthly mortgage payments were calculated assuming a 20 percent down payment and the current average mortgage rate for the state (all roughly around 4.3 percent). But finding such an affordable place to live often comes with a catch. All of the cities

It’s Tax Day and you may have had to cough over some dough to Uncle Sam. To cushion the blow, a growing number of businesses are offering freebies throughout the day. This year, even more retailers are participating with Tax Day deals on everything from margaritas to massages, according to DealNews. “We’re already seeing almost

Chances are, you are confused about your credit card rewards, frequent flyer programs and hotel loyalty programs. And that means you’re probably leaving real money on the table. Many Americans don’t understand these programs, according to a new survey from NextAdvisor, which reviews online services. More than half of those surveyed said they are befuddled

Leading automated financial advisers — often called”robo-advisers” — such as Wealthfront and Betterment tout daily tax-loss harvesting as a way to significantly increase your returns. But independent research suggests the technique has less effect than claimed and may be more a gimmick than a true advantage for investors. Tax-loss harvesting explained Tax-loss harvesting is a

“If you owe more than $1,000 at the end of the year and you don’t qualify for one of the [exceptions], you will be penalized,” said certified financial planner and certified public accountant DeDe Jones, managing director of Innovative Financial in Lakewood, Colorado. The IRS can assess underpayment penalties above that threshold unless: 1) You

She said there often is a triggering event — such as a lawsuit filed by a creditor — that makes people realize how much trouble they’re in. “People really don’t want to have to go the bankruptcy route,” O’Neill said. “They usually do everything they can to avoid it.” In fact, some end up tapping

Student loan debt in America has been called a crisis. The loans many students take out to cover their education can impair them from owning houses and saving for retirement later in life. And many others can’t even make their monthly payments. Some 40 percent of borrowers are expected to default on their loans by

Of the 27 percent of survey respondents who said they’d use the free money to pay down debt, about half said it would go toward credit cards. In second place was student loan debt at 12.5 percent. As it stands, overall household debt was more than $13 trillion at the end of 2017, according to

College grads from New Hampshire are probably carrying student loan debt. In 2015, 64 percent of undergraduate students hailing from the Granite State had federal student loans. From California? You’re more likely to be debt-free. Just 1 in 5 students from the Golden State had federal student loans that year. A new tool from the

Do you have more financial smarts than the typical teenager? Don’t be so sure. Finding out is as simple as taking a basic 30-question financial literacy quiz designed by the National Financial Educators Council (NFEC) in honor of Financial Literacy Month in April. The test evaluates young adults’ ability to earn, save and grow their

So far, more than 20 states permit K-12 tuition to be a “qualified educational expense,” reflecting the federal law. These include Alaska, Arkansas, Delaware, Georgia, Idaho, Kansas, Kentucky, Maryland, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, North Dakota, Oklahoma, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, West Virginia and Wisconsin, according to Savingforcollege.com. States where residents may