Chuck Savage | The Image Bank | Getty Images Read more CNBC personal finance coverage “For young people early in their career, unemployment can be particularly harsh,” said Michele Evermore, a senior fellow at the National Academy of Social Insurance, a nonprofit that focuses on the country’s safety net. “They have had less time to pull…
Alistair Berg | Digitalvision | Getty Images Older Americans stand to benefit from tax changes in President Donald Trump’s “big beautiful bill,” which went into effect for 2025. “What is the one group of people who are going to be benefiting most from tax changes in the past year? It’s almost certainly going to be…
M Swiet Productions | Getty Images Gregory Hutchison, 72, is living most people’s retirement dream. After a nearly 44-year career as an expert in information technology at IBM, Hutchison retired in 2021 with close to $1 million in his 401(k). He and his wife sold their home and downsized to a smaller house by the…
Ulysses Fitzgerald, a high school senior in Smyrna, Tennessee, said he thought sports betting would be an easy way to make money. He said he’d seen ads and influencers promoting big wins. “This guy won like $5,000 because he predicted that this player wouldn’t get this many points,” Fitzgerald said of one influencer’s post. “I…
Ciara Houghton | Moment | Getty Images If you’re within a decade of retirement, the current stock market volatility may be a good reminder of a key risk that lies ahead for your nest egg. While stocks tend to offer the best opportunity for long-term growth despite their ups and downs, a persisting market downturn…
Jetta Productions Inc | Digitalvision | Getty Images Many Americans are seeing bigger tax refunds this season due to President Donald Trump‘s 2025 legislation, which includes the new “no tax on overtime” deduction. This season, that tax break has seen a surge of popularity, which could impact its future, experts say. While the provision doesn’t…
Trevor Williams | DigitalVision | Getty Images The stock market rallied on Tuesday, the last trading day of March, inspired by hopes for an end to the Iran war. But it was not an easy month for investors. In March, the S&P 500, Dow Jones and Nasdaq indices each fell around 5% — capping off…
Lordhenrivoton | E+ | Getty Images Parents who took out student loans for their child’s education still have time to take steps to preserve their access to affordable repayment plans and debt forgiveness, consumer advocates say. But the window of opportunity is shrinking quickly. Starting in July, Parent PLUS borrowers will no longer qualify for…
People march through downtown Detroit, Michigan on Saturday, April 19, 2025 Dominic Gwinn | Afp | Getty Images Social Security is the nation’s largest social insurance program, making payments to approximately 75 million Americans every month. Yet the program faces an imminent funding shortfall. Social Security’s trust fund for retirement benefits may run out in…
Andreswd | E+ | Getty Images Because of the extremely high interest rates, credit cards are one of the most expensive ways to borrow money. Even so, at least one-third of credit card users carry a balance from one month to the next, according to the Federal Reserve Bank of Boston. However, a new paper…