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The reach of Trump Accounts is growing under a new initiative known as Fostering the Future Accounts. An offshoot of the youth savings and investment accounts that the president introduced as part of the One Big Beautiful Bill (OBBB) Act, these accounts are specifically targeted for children in foster care. Under the program, announced in […]

You usually have to wait until you reach age 59 ½ before you can dip into your retirement funds penalty-free. Otherwise, you end up forfeiting 10% of the amount you withdraw from your 401(k) or similar tax-deferred retirement plan. But what if you want to retire sooner than that and need access to your money? […]

Aging can already be a touchy subject, and when it intersects with something as personal and private as finances, having a conversation about it can feel daunting. Parents may be hesitant, or even embarrassed, to ask for help in managing their financial situation as they get older. Meanwhile, their adult children may feel unsure about […]

Moving into a new apartment can require putting down a lot of money up-front. One of the main costs prohibitive for many renters is the security deposit, a lump sum that the landlord will typically keep until you move out in case of any damages. But with security deposit alternative services offered by financial technology […]

Mortgage rates that are high, or higher than they have been in recent memory, can be a real blocker for buyers and sellers. It may feel psychologically challenging to buy at a steeper rate than you would have gotten just a few years ago. And for sellers looking to exit one house for another, the […]

Artificial intelligence has become part of our daily lives, and many younger users are turning to it for help with managing their money. Research by Fidelity International found that more than a third of 18- to 34-year-olds use AI when making investment choices. AI tools are useful for “opening access”, said MoneyWeek, for those who […]

Home insurance is must-have protection for what is likely your most valuable asset, and oftentimes mandatory if you have a mortgage. Losing it unexpectedly, whether due to your insurer’s decision not to renew or a sudden cancellation of coverage, is therefore an understandably stressful situation. The first step in sorting it out is to determine […]

There are a lot of ways you can save for retirement. There are 401(k) plans, provided through employers, and IRAs, which you can open on your own. Drilling down further, there are two classifications of those accounts: traditional and Roth. While a traditional account allows you to save money pre-tax, a Roth account is funded […]

Moving back home after college may seem like a failure to launch, both on the part of parents who thought their work was finally done, and young adults who thought they were poised to start building a life of their own. But increasingly, it is a decision many recent graduates are making, often out of […]

Filling up your tank is pricey, and the total cost is more than just the price of gas alone. Every time you fill up, a federal gas tax and a state tax gets tacked on to each gallon of gas you put into your car. With the price of gas skyrocketing of late, in large […]

Staying on budget does not have to mean staying in all the time. But going out can often be a slippery slope — especially if you are doing so with friends who have different financial situations and spending habits. Your friend might suggest another round or two of drinks or grabbing dinner at a pricey […]

For many retirees, Social Security is an essential source of income. But unfortunately, it is also one that may soon become less reliable as available funds dry up. Per a recent projection by the Congressional Budget Office, “Social Security’s main retirement trust fund — formally known as the Old-Age and Survivors Insurance Trust Fund — […]

Your house may have seemed just right for you when you bought it. But over the years, your situation can change. Perhaps you had a kid or started working from home full-time. Maybe one-and-a-half baths and a smaller kitchen did not feel restrictive when you made the purchase, and now it does. In this situation, […]

You vowed till death do us part at the altar — but does that have to extend to your money, too? Not necessarily. Increasingly, many married couples are opting to keep their finances separate, at least to some extent. “Between 1996 and 2023, the share of married homeowners with financial assets who held at least […]

For many people, taxes come due just once a year. But for others, it is necessary to make payments every quarter alongside the requisite filing due April 15. Known as quarterly estimated tax payments, these are “taxes paid to the IRS throughout the year on earnings that are not subject to federal tax withholding,” said […]

The rate of inflation slowed in April despite concerns about the impact of the Iran war and oil shortages on household bills, but this dip may be only temporary. Data from the Office for National Statistics (ONS) shows the Consumer Prices Index (CPI) was 2.8% in April, down from 3.3% in March. The lower energy […]