Personal finance

Wells College, Aurora NY. Google Earth When Jonathan Gibralter became president of Wells College in Aurora, New York, in 2015, enrollment at the school was at a nadir. To understand why, faculty there compared the college’s price tag with other schools in the area. “What we found is that our tuition was $10,000 out of

Hero Images | Hero Images | Getty Images Even if your employer offers you health insurance at work, chances are you’re shelling out more money for medical care. Last year, employers spent an average of $15,159 in premiums to cover a family of four, according to an analysis from the Kaiser Family Foundation. In all,

POJCHEEWIN YAPRASERT PHOTOGRAPHY | Moment | Getty Images Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it. Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. So where do you keep them

Ted Jenkin (left), CEO of oXYGen Financial, with children Lyla, Louden and Olivia and wife Genna Jenkin. Ted Jenkin It’s official: Apparently, you can go home again. A recent TD Ameritrade survey found that 50% of “young millennials” plan to move back home with their parents after college. The survey polled 1,027 members of Generation

Glenn Daily, a fee-only insurance consultant, owns a whole life insurance policy. Glenn Daily Roth IRAs and Roth 401(k) plans aren’t your only sources of tax-free income in retirement. Say hello to so-called permanent life insurance — a policy with an interest-bearing account that’s known as cash value. This cash value accumulates without being subject

Back to school is an increasingly costly time of year, particularly for families with college-bound children. A college education is now the second-largest expense an individual is likely to make in a lifetime — right after purchasing a home. Tuition and fees for a four-year private college averaged $35,830 in 2018-19; at four-year, in-state public

When Rep. John Larson, D-Conn., travels the country to talk about his plan for Social Security reform, he often holds up a Starbucks coffee cup. The cost of that latte — about $4.50 — could also cover nine weeks of Social Security payments if you’re making $50,000 per year, Larson said he points out to

The average American has $38,000 in debt — a quarter of which comes directly from credit card charges. In December 2018, consumer debt overall hit a record high $4 trillion. Experts say a significant amount of this debt can be explained by what they call “money disorders.” Brad Klontz, author of “Mind Over Money” and

Steven Puetzer | Getty Images “Stock market gets ugly.” “The next recession is going to be brutal.” “Markets in turmoil.” Headlines of late on the direction of the economy — or, perhaps closer to home, your 401(k) balance — might have you on edge. Breathe. It’s O.K. If you haven’t already done so, you can

Maskot | Maskot | Getty Images It’s only August, yet college students’ best chance at a decent financial aid package is right around the corner. Oct. 1 marks the first day for students and their families to apply for grants and other aid for the 2020-2021 school year through the Free Application for Federal Student

For older Americans, Social Security promises guaranteed monthly income. Except when you have certain kinds of unpaid debt. While most creditors — i.e., credit-card companies or other lenders — can’t touch your Social Security payments, some types of delinquent debt can reduce those monthly checks. And when they do, look out. “If you’re actively paying

Getty Images If you faced a surprise penalty for coming up short on your 2018 taxes, the IRS might be giving you some relief. On Wednesday, the IRS said it would automatically waive the tax underpayment penalty for more than 400,000 taxpayers who have already submitted their 2018 federal income tax return and failed to

Hero Images | Hero Images | Getty Images American teenagers may spend a lot of time on their smartphones but when it comes to getting paid and spending their money, they prefer cash. According to a new survey by Junior Achievement USA and data-marking firm Alliance Data, 75% of the teens polled have made purchases

A woman lights a candle at a makeshift memorial outside Walmart, near the scene of a mass shooting which left at least 20 people dead, on August 4, 2019 in El Paso, Texas. Mario Tama | Getty Images News | Getty Images The threat of gun violence is real enough that business owners, schools and

Fertnig | E+ | Getty Images Some people are just fine with paying a little extra to the tax man. In fact, 42% of adults polled by NerdWallet said that they would prefer to overpay on federal income taxes, even if it means they’re taking home less money for the entire year. The personal finance

RichVintage | E+ | Getty Images The Great Wealth Transfer is coming. About $68 trillion in U.S. wealth is expected to change hands in the next 25 years, according to research firm Cerulli Associates. Yet as wealthy individuals plan for how to pass on those assets, many are not discussing it with their heirs. A

Back-to-school shopping at a Target store in West Hollywood, California. Joe Scarnici | Getty Images Add “learning financial literacy” to your child’s back-to-school to-do list. With only a few weeks left of summer, parents around the country are heading to stores to pick up items on their child’s school shopping list. Families with children in

Damircudic | Getty Images Headed to college? It’s time to open a student bank account. “Having a bank account is one of the most important first financial literacy steps a person takes,” said Matt Rosenberg, a CPA and member of the American Institute of CPAs’ Financial Literacy Commission. Whether your scholar is moving away for

When it comes to retirement savings, theory often differs from reality. On average, Americans believe they need $1.7 million to retire, according to a recent survey from Charles Schwab, which looked at 1,000 participants in 401(k) plans nationwide. In fact, “that’s a pretty good number if you average out age and median salary across the

A string of pending proposals on Capitol Hill could change the way current and future retirees live. But that’s assuming they can first get through both Houses of Congress. The U.S. Capitol Building in Washington, D.C. Adam Jeffery | CNBC And time is ticking as August recess has already begun. After that, there’s just four