President Joe Biden’s administration is considering forgiving the debt of millions of federal student loan borrowers, which could come into effect just weeks before the upcoming election against former president Donald Trump. The U.S. Department of Education revealed in the Spring 2024 Unified Agenda that the final rule on student loan relief would be published
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Inflation may be slowing down, but the fact remains that prices continue to remain high across various sectors. While this news can be seen as positive for the expanding economy amidst a strong job market, the reality is that prices persist at elevated levels, posing affordability challenges for many Americans. According to Mark Hamrick, a
One popular strategy for reducing future taxes on retirement savings is through Roth individual retirement account (IRA) conversions. By transferring pretax or nondeductible IRA funds to a Roth IRA, individuals can enjoy tax-free growth on their investments. However, this strategy comes with an upfront tax hit, which can be managed using a Roth conversion ladder.
When it comes to planning for retirement, one of the key factors to consider is the impact of taxes on your savings. Whether you are in the middle of your career or getting ready to retire, understanding where you are investing your money and how those accounts will affect your taxes in the future is
Last week, as I was preparing to leave work, I realized that my wallet was missing from my backpack. Panic set in as I searched frantically for it, only to come up empty-handed. I contacted security and the bank to lock my cards, feeling defeated and vulnerable. As a finance intern at CNBC, I turned
In the past year, there has been a significant surge in employment scams, with criminals utilizing advanced techniques such as artificial intelligence to target unsuspecting job seekers. Reports of job scams increased by 118% in 2023 compared to the previous year, as per the Identity Theft Resource Center. These scammers often pose as recruiters and
In a world where big, extravagant weddings have been the norm for decades, more and more couples are opting for a different route. Vanessa Acosta and Sam Roberts found themselves in a situation where they had to reconsider their dream wedding plans. After a series of family events, they came to the realization that they
The investment preferences of young, wealthy individuals between the ages of 21 and 43 are diverging significantly from those of their older counterparts, according to recent research conducted by Bank of America. Rather than adhering to the traditional mix of stocks and bonds favored by older investors, nearly one-third of the portfolios of younger wealthy
The IRS is currently facing a significant challenge with an increasing number of tax identity theft cases. According to a report by National Taxpayer Advocate Erin Collins, there are about 500,000 unresolved cases of identity theft as of April. This number has seen a rise from 484,000 cases in September, indicating a growing backlog of
Vacations used to be a time for relaxation, unwinding, and creating memories with loved ones. However, in today’s digital age, the landscape of vacations has shifted dramatically. Social media has played a significant role in changing the way we approach and experience travel. What was once a personal and intimate escape has now become a