Personal Finance
Can I Collect Part of My Parent’s Social Security? Here’s the Truth Most People Get Wrong.
One common misconception is that any adult child can request a share of a parent’s Social Security check simply because they’re related. In reality, eligibility on a parent’s record is narrow and depends on the child’s age, school enrollment or disability, and whether the parent is living, retired…
Retiring at 65 With $1.6 Million in a 401(k)? Your Biggest Tax Problem May Be Just 10 Years Away
Retiring at 65 with $1.6 million in a 401(k) could set you up for a much larger tax bill 10 years later. As the account continues to grow, RMDs may eventually force sizable taxable withdrawals, potentially pushing more of your retirement income into higher tax brackets. Why Your $1.6 Million 401(k)…
Subscription Spending Is Rising Despite Cost Worries
Subscription spending is on the rise as more consumers are utilizing entertainment and retail services, a new analysis shows. Bank of America Institute economists analyzed aggregate credit and debit card spending data from 70 million consumer and small-business accounts to find that subscription…
Medicare’s Drug Deductible Jumps to $700 in 2027 — and the Subsidy Holding Down Your Premium Is Gone
If you buy a stand-alone Medicare drug plan, two things are about to happen to you at once. The most you can be charged before coverage kicks in is going up. And a federal subsidy that’s been holding down your premium for two years is disappearing. Neither one made the evening news. Both will show
Gas Prices Are High, but Americans Still Have Their Favorite Stations
Gas prices have been on the rise since the United States and Israel launched joint military strikes against Iran, leaving many drivers wondering when they will get some relief at the pump. The average U.S. price of a gallon of regular gas on Sept. 9 was $4.22, according to AAA Auto Club. That’s up…
Retirement account balances dip in Q1 2025 as savings rates hit record high
Retirement account balances dipped in the first quarter due to stock market turbulence. Still, people kept socking away money for their retirement, according to new data from Fidelity Investments. The financial services company analyzed more than 50 million retirement accounts, finding that the…
Personal finance expert tackles ‘widespread’ financial misconceptions
Managing one’s finances can be challenging, especially when faced with conflicting — and often wrong — information fed to people, especially on social media. Buying into common misconceptions surrounding money can be harmful, putting someone on their back foot when it comes to financial health…
Here’s Where Drivers Are Paying the Most
Gas prices have been on the rise since the United States and Israel launched joint military strikes against Iran, leaving many drivers wondering when they will get some relief at the pump. The average price of a gallon of regular gas in the U.S. on Wednesday, Sept. 9, was $4.22, according to AAA…
Americans more reactive about finances as planner numbers drop to 40%
How people tackle their finances can vary but, according to new research from PYMNTS, there are two ways that are most common. PYMNTS found just 40% of American consumers are “planners,” meaning their strategy for money had more foresight. That figure has gone down compared to the roughly half who…
Study reveals retirement costs without Social Security across states
Retirement remains top of mind for many Americans, whether they are approaching their so-called “golden years” or have many years to go before leaving the workforce. How much money a person needs to have saved to retire without financial stress is an important consideration in the retirement…