Wealth Management

Twenty47studio | Moment | Getty Images Millions of Social Security beneficiaries will benefit from the 2.5% cost-of-living adjustment for 2025, set to take effect in January. With that increase, the maximum Social Security benefit for a worker retiring at full retirement age will jump to $4,018 per month, up from $3,822 per month this year,

David Hester inspects damages of his house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024.  Chandan Khanna | Afp | Getty Images After a natural disaster, some victims may be eligible for tax relief — but qualifying can be tricky, tax experts say. In late September, Hurricane Helene ravaged parts

Aire Images | Moment | Getty Images Many Americans face a retirement savings shortfall. However, setting aside more money could get easier for some older workers in 2025. Enacted by Congress in 2022, the Secure Act 2.0 ushered in several retirement system improvements, including updates to 401(k) plans, required withdrawals, 529 college savings plans and

Americans often splurge on gifts during the holidays. This year, holiday spending from Nov. 1 through Dec. 31 is expected to increase to a record total of $979.5 billion to $989 billion, according to the National Retail Federation. Even as credit card debt tops $1.14 trillion, holiday shoppers expect to spend, on average, $1,778, up 8% compared to

Many colleges are under financial pressure, and the cracks are starting to show. At least 20 colleges closed in 2024, and more are set to shut down after the current academic year, according to the latest tally by Implan, an economic software and analysis company. Altogether, more than 40 colleges have closed since 2020, according to

Morsa Images | Getty Buying a home is often the biggest financial decision you’ll ever make. It’s not just about choosing a place to live; it’s about making a long-term investment that will impact your financial future for years to come. Therefore, if you are looking to buy a home, there are certain steps you should

Urbazon | E+ | Getty Images The tax extension deadline has arrived and there are options if you still can’t pay your balance, tax experts say. About 19 million U.S. taxpayers filed for an extension by the April 15 tax deadline, which bumped the filing due date to Oct. 15. But taxpayers affected by natural

About 165 million Americans get their health insurance through work, and yet most don’t spend much time considering what their employer is offering in the way of benefits and what it will cost. In fact, employees only spent about 45 minutes a year, on average, deciding which benefit options suit them best, a report from Aon found. Open

Morsa Images | Digitalvision | Getty Images Medicare open enrollment for 2025 is set to begin on Tuesday. Beneficiaries have from Oct. 15 until Dec. 7 to evaluate their Medicare coverage options and select new plans for next year. Experts say it’s an important opportunity retirees should not ignore. However, just 30% of people on

Former President Donald Trump departs following an address to the Detroit Economic Club on Oct. 10, 2024. Sarah Rice/Bloomberg via Getty Images Former President Donald Trump proposed a new tax deduction last week for car owners who pay interest on an auto loan, one of many tax breaks he has floated on the presidential campaign