Advisors

Many people may have heard about the various so-called attachment styles psychologists and sociologists say we display in our closest relationships, such as “anxious attachment” or “avoidant attachment.” It turns out we also tend to follow certain patterns when it comes to our relationship with money, said Brad Klontz, a Boulder, Colorado-based psychologist and certified

Drakula & Co. | Moment | Getty Images Tax season can be stressful. Whether you filed early or you’re racing to meet the April 18 deadline, there are things to know to make the process easier. As of March 24, the IRS has processed more than 80 million returns and issued more than 59 million

Izusek | E+ | Getty Images Emotions can get the better of us when it comes to investing — particularly when financial markets get volatile. Behavioral finance tells us we are inherently bad investors, prone to making decisions based on emotions rather than evidence and self-interest. Just as we are a bundle of biases and

Srdjanpav | E+ | Getty Images This tax season, older taxpayers may find they owe more money to Uncle Sam than they expected. The reason: More of their Social Security benefits may be taxed following a higher 5.9% cost-of-living adjustment in 2022. This year’s record 8.7% cost-of-living adjustment may also prompt more benefits to be

Tax season is upon us, and along with it comes the ensuing bout of paranoia about the dreaded IRS audit. But, statistically speaking, getting audited is unlikely for most American taxpayers. In 2022, the IRS audited 3.8 out of every 1,000 income tax returns. Audit rates have been on the decline since 2010. Across all

Shapecharge | E+ | Getty Images Tax rules for Roth individual retirement accounts don’t require owners to withdraw money during their lifetime — a valuable proposition for retirees who don’t need to touch the money and want to let their investment continue growing tax-free. But those rules change once the account holder dies — meaning

Geber86 / Getty Tax procrastination happens. But if you’re still missing key forms or feeling overwhelmed, you can buy more time by filing a free tax extension. Nearly one-third of Americans procrastinate with their taxes, the top reasons being complexity and stress, according to a recent survey from IPX1031. You can avoid a late-filing penalty

Bill Oxford | E+ | Getty Images With the tax deadline approaching, the IRS has issued roughly 54 million refunds worth about $158 billion as of March 17, the agency reported Friday. In January, the IRS warned filers that refunds may be “somewhat lower,” and so far, the prediction has been accurate for many filers.

Even when they don’t buy a fixer-upper, most people will end up doing some amount of repairs on a new home. About 95% of homeowners said they plan to take on a major home improvement project in the next five years, according to a recent report by Real Estate Witch. However, only 50% said they

Momo Productions | Digitalvision | Getty Images Parents with young kids or those expecting a child may wonder: What financial steps should I take to set my family up for success? Here are four of the top considerations, according to Rianka Dorsainvil, a certified financial planner and co-CEO of 2050 Wealth Partners. Dorsainvil is also

Mireya Acierto | Photodisc | Getty Images It’s not unusual for wealthy taxpayers to relocate from high-tax states to low-tax states. There’s evidence in population trends: Texas and Florida — neither of which have a state income tax — were the states with the biggest population increases from 2020 to 2021, according to the latest

Getty Images The tax deadline is approaching, and there are still a few ways to reduce your 2022 bill or boost your refund, experts say. Once the calendar year ends, “the toolbox of options is much smaller,” said certified financial planner John Loyd, owner at The Wealth Planner in Fort Worth, Texas. He is also

Visualspace | E+ | Getty Images Over the past year, there’s been a wave of confusion around tax reporting for payment apps like Venmo and PayPal, along with e-commerce companies such as eBay, Etsy and Poshmark. But the IRS provided clarification in an update this week. The 2022 threshold for Form 1099-K, which reports third-party business payments to

In the era of social media influencers, some investors are turning to platforms like YouTube, TikTok and Instagram for answers to their most pressing financial concerns. But advisors recommend scrutiny when seeking guidance online — especially when weighing money decisions with the possibility of harmful consequences. “Because social media is democratized and everybody has a

Pascal Broze | Onoky | Getty Images An 8.7% Social Security cost-of-living adjustment for 2023 means beneficiaries received on average $140 per month more starting in January. Now, new research from Bank of America Institute finds faster spending growth among older generations that receive Social Security income. For the week ending Feb. 18, individuals born

When it comes to college these days, students are more concerned about how they will pay the tab than they are about getting in, according to a recent survey of college-bound students and their families. Higher education already costs more than most families can afford, and college costs are still rising. Tuition and fees plus room and board

In this article SIVB SBNY Follow your favorite stocksCREATE FREE ACCOUNT People wait for service outside Silicon Valley Bank in Menlo Park, California. John Brecher | The Washington Post | Getty Images Account holders at failed Silicon Valley Bank and Signature Bank got a lucky break in recent days when emergency federal efforts ensured that

In this article EOCW RJF Follow your favorite stocksCREATE FREE ACCOUNT sturti With expectations for a recession already in the forecast for 2023, the recent failures of Silicon Valley Bank and Signature Bank have further stoked fears that an economic downturn could be on the horizon. But it remains to be seen when a recession

In this article FIS Follow your favorite stocksCREATE FREE ACCOUNT In recent days, a crisis in the financial sector sent markets into a tailspin, erasing hopes for an early 2023 turnaround. For retirement savers, these losses come on the heels of a year when 401(k) account balances already lost nearly one-quarter of their value. Average

Getty Images You may have heard that many taxpayers are in for a big surprise this tax season if they’re banking on a big refund check — or one that’s even close to the amount they received last year — but that’s more of a “tax myth” than reality. Last year, according to the IRS,

Despite the 2008 financial crisis, bank failures are considered extremely rare. However, the unexpected shutdowns of Silicon Valley Bank and Signature Bank have many consumers concerned about their deposits, their bank and the U.S. banking system. “Every American should feel confident their deposits will be there if and when they need them,” President Joe Biden said Monday in an address aimed at

Employees stand outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty Images News | Getty Images For small businesses that have been keeping their money at Silicon Valley Bank — which collapsed last week — the good news is that they will be

In the wake of the pandemic, there’s one topic that’s suddenly a lot less taboo, according to Lee Baker, a certified financial planner based in Atlanta. “We get more calls around estate planning,” said Baker, founder, owner and president of Apex Financial Services and a member of CNBC’s Advisor Council. “The last 36 months shifted the

Ippei Naoi | Moment | Getty Images Budgeting and saving money may seem challenging — but the 50-30-20 rule is an easy way for people to get started, said Cathy Curtis, a certified financial planner based in Oakland, California. The numbers refer to the share of take-home pay allocated to different areas of your life:

President Joe Biden speaks about the U.S. response to the high-altitude Chinese balloon at the White House complex Feb. 16, 2023 in Washington, DC. Drew Angerer | Getty Images News | Getty Images President Joe Biden is proposing higher taxes on wealthy Americans to help cover priorities like Medicare and Social Security in his 2024

Halfpoint Images | Moment | Getty Images Women tend to outperform men when it comes to investing, yet some may still be at risk of falling behind. Over a 10-year span, women’s returns were, on average, 40 basis points, or .4%, higher than their male counterparts, according to a 2021 report from Fidelity Investments that

Enes Evren There’s still time to make a pretax individual retirement account contribution for 2022 — and possibly trim your tax bill or boost your refund — if you qualify. For 2022, the IRA contributions limit was $6,000, with an extra $1,000 for investors age 50 and older, and the tax deadline this year is

Mixetto | E+ | Getty Images For some retirees, heading back to work has emerged as an aspiration. Roughly 1 in 6 retired Americans say they are mulling over whether to get a job, according to a recent study from Paychex. On average, those “unretiring” individuals have been out of the workforce for four years.

Sdi Productions | E+ | Getty Images Married couples have a choice every year: file taxes together or apart. While the tax code generally rewards joint returns, there are scenarios where filing separately pays off, experts say. While “married filing jointly” involves a single return, “married filing separately” means you and your spouse have your

Dobrila Vignjevic | E+ | Getty Images Health care in retirement can come with a hefty price tag. A new study looks at how much money a 65-year-old — who’s at the age of Medicare eligibility — would need to have set aside to secure a 50%, 75% or 90% chance of covering their health-care