Senior man celebrates his 90th birthday Urbazon / Getty A change proposed by the IRS could alter how much retirees are required to withdraw each year from their traditional retirement accounts. The reason? People are living longer now than when the agency last issued its tables for required minimum distributions in 2002. As a result,
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New York state governor Andrew M. Cuomo Wang Ying | Xinhua | Getty Images Four blue states that had unsuccessfully sued the IRS over a new $10,000 cap on the federal deduction for state and local taxes filed an appeal on Tuesday. The states — New York, New Jersey, Connecticut and Maryland — originally filed
GivingTuesday ‘Tis the season for giving. With the holidays around the corner, it’s the time of year when many people think about helping those less fortunate than themselves. A global movement to encourage donations has even been created, called GivingTuesday, which began in 2012 and falls on the Tuesday after Thanksgiving. Yet even if you
NFL linebacker Brandon Copeland understands the importance of investing his money. In fact, the New York Jet spends about 10% of his salary and saves the rest. “This career can end at any moment. Any money I make I’m trying to extrapolate that out for life, I’m trying to save as much as possible,” he
Guido Mieth | DigitalVision | Getty Images With a New Year comes a new start, and your retirement is no exception. That’s because the limits for pre-tax saving have gone up for aspiring retirees. And those already in retirement will see a modest boost to their Social Security retirement benefits, along with increased Medicare Part
Oscar Carrascosa Martinez | Moment | Getty Images When Kelly Smith had a mammogram in February 2018, she got a clean bill of health. Yet that April, as she was putting on lotion, she noticed a lump in her left breast. Several follow-up visits to her doctors confirmed the worst: She had stage 3B breast
Oxford University Joe Daniel Price | Getty Images For high-school seniors, the world is their oyster. In fact, a growing number of college-bound students are completing their bachelor’s degrees in foreign lands. Rather than just studying abroad for a semester or two, about 50,000 U.S. students are currently pursuing full degrees abroad, with a little
It’s a family dynamic that is increasingly becoming commonplace — and can make dealing with financial issues particularly challenging. A spouse — or both — has at least one child from a previous marriage or relationship and together they create what’s known as a “blended family.” Think “The Brady Bunch” – just without the rotary
Tom Werner | DigitalVision | Getty Images If you were diligently saving money for medical expenses all year, you may be about to lose it. A health-care flexible spending account, which you may have access to at work, allows you to save pretax dollars in a savings account. You can take tax-free distributions from the
Moyo Studio | E+ | Getty Images If you have one resolution for 2020, make it to clear the decks on your credit card debt. About 2 out of 3 consumers with credit cards have been toting the same balance or higher over the last decade, according to a recent survey from Bankrate.com. The personal