Yagi Studio | Digitalvision | Getty Images Special needs trusts are essential for the well-being of a person with special needs, experts say. “The most important reason for a special needs trust is that individuals with special needs are often unable to make appropriate financial decisions for themselves and / or are at risk of … Read more
Chris Ryan | Getty Images I bonds have surged in popularity as riskier assets slip. The bonds are backed by the federal government, the principal does not lose value and the bonds earn monthly interest through two parts, a fixed rate and a variable rate. Currently, the variable component will pay a record 9.62% annual … Read more
Kevin Dodge | The Image Bank | Getty Images About 14,470 students may have been underpaid $ 59.5 million in Social Security benefits, according to estimates from the Social Security Office of the Inspector General in a recent audit. The organization, which provides independent oversight of the Social Security Administration’s programs and operations, conducted an … Read more
Many parents intend to teach their children to have a healthy relationship with money but end up falling short – even though a majority say personal finance lessons are best taught at home. Some 83% of adults say parents should teach their kids about personal finances, according to a CNBC + Acorns Invest in You … Read more
Golibtolibov | Istock | Getty Images Taxing the wealthy is a big topic in Washington these days. President Joe Biden recently proposed in his 2023 annual budget a so-called billionaire minimum income tax that would increase levies on the country’s wealthiest households. Under the plan, people with a net worth of $ 100 million or … Read more
Some investors may soon be able to add cryptocurrencies to their 401 (k) accounts. Fidelity Investments announced Tuesday it will begin allowing investors to put cryptocurrencies such as bitcoin into 401 (k) retirement accounts, making it the first provider to do so. The offering will be available midyear for the 23,000 companies that use Fidelity … Read more
Gcshutter | E + | Getty Images Throughout the pandemic, many adults turned to a likely safety net: their parents. From buying food to paying for their cell phone plan or covering health and auto insurance, half of parents with a child over 18 provide them with at least some financial support, according to a … Read more
Ariel Skelley | Digitalvision | Getty Images How would it feel to give your children an enormous leg up on saving for retirement while also helping them form healthy money habits? The answer could be opening a Roth individual retirement account for them. To start, a Roth IRA is a special retirement account that allows … Read more
The Gray Bee Investors researching potential investments during a recent meeting. Mike Scanlan There’s real money on the line for the investing club at St. Benedict’s Preparatory School in Newark, New Jersey. This year, the Gray Bee Investors club – made up of about 15 high school students – is helping make investment decisions for … Read more
Moyo Studio | E + | Getty Images As the coronavirus pandemic wears on and government aid sent at the beginning of the crisis runs out, Americans are feeling the impact of tight budgets. One-quarter of Americans said they felt financially stressed all the time last year, according to a CNBC + Acorns Invest in … Read more