PhotoAlto/Dinoco Greco American teens are worried about the financial impact of the coronavirus pandemic on their family — and on their future. According to a survey by Junior Achievement, 57% of teenagers said they were concerned about how Covid-19 will affect their life after high school. Of the high school juniors and seniors polled, 27%
Wealth Management
Wild market swings have taken a toll on retirement savers. The average 401(k) balance plunged 19%, to $91,400, in the first quarter of 2020, according to a new report by Fidelity Investments, the nation’s largest provider of 401(k) plans. The financial services firm handles more than 30 million retirement accounts altogether. The average individual retirement
Employee Linda Tarkenton holds a blank U.S. Treasury check before it’s run through a printer at the U.S. Treasury printing facility in Philadelphia. Getty Images People who receive benefits through either the Department of Veterans Affairs or Supplemental Security Income who have children have a new deadline if they want to get all of the
Getty Images More than 88 million individuals received a stimulus check from the IRS in the last three weeks, according to data from the federal agency. The Treasury Department and the IRS have distributed a total of $157.9 billion in so-called Economic Impact Payments. The federal government began depositing the cash into taxpayers’ bank accounts
Images By Tang Ming Tung The financial hardships many Americans are now facing may have an unintended effect on their children — it may actually help their kids develop a money mindset very early. Just like children of the Depression emerged as frugal spenders, those experiencing the coronavirus pandemic may also learn important financial lessons.
When a loved one passes away, it’s not unusual for the person to leave some unpaid debt behind. The question for the surviving spouse or other heirs is often: What happens to those obligations? Generally speaking, it depends on both the type of debt and applicable state laws. When someone dies, their assets — no
CNBC | Jaden Urbi On March 25, the Trump administration announced that during the coronavirus pandemic it would stop garnishing the wages of struggling student loan borrowers. “These are difficult times for many Americans, and we don’t want to do anything that will make it harder for them to make ends meet or create additional
(Credit: Getty | PeopleImages) When the government launched a web tool on April 15 so that eligible Americans could find out the status of their coronavirus stimulus payments, Jake Koepke was eager to log on. But the central Wisconsin resident, 34, was disappointed to find himself shut out after three failed attempts to get onto
Getty Images As financial conditions worsen for millions of Americans, credit card companies are tightening the purse strings. In fact, some card issuers have already begun lowering credit limits — sometimes without notice — and more are expected to follow. “We knew the purge was going to come at some point, but it looks like
U.S. households that already were less prepared to weather a financial storm are getting hit hardest from the recent rash of job losses across the country, research shows. Adults with lower income (under about $37,500 annually) and middle income ($37,500 to $112,600) comprise a greater share of those who have lost their job or taken