The head of the National Flood Insurance Program told CNBC’s “Squawk on the Street” Monday that the government is prepared to handle the anticipated rash of claims filed by homeowners in the upcoming days and weeks. “As the days continue, we’ll be able to start to get the number of claims being submitted, get adjusters
When a company’s culture is healthy, these conversations should happen easily, Moravek says. But even in an unhealthy culture and with a difficult, poorly trained supervisor, it’s worth trying to develop the relationship. After a difficult moment at work, Moravek recommends taking these steps. Take a deep breath and remind yourself this is not personal.
With money at the root of a lot of relationship stress, it’s no surprise that a partner with credit issues can cause a significant strain and even a split. More than one-third of borrowers said college loans and other money woes contributed to their divorce, according to a recent report from Student Loan Hero, a
In the last decade, the S&P 500 has rallied 200 percent, yet many Americans are less willing to invest in the market than they were before 2008 — and before $2.7 trillion in retirement accounts were erased in the financial fallout. “When you have giant shocks to the economy it changes people’s attitudes about risk,”
“We think this is an incredibly important ruling both for cheated student loan borrowers and anyone who cares about the government under the rule of law instead of under the thumb of a predatory, for-profit college industry,” said Toby Merrill, director of the Harvard Law School’s Project on Predatory Student Lending. More from Personal Finance:Strong
All are surmountable, the Statons say. It’s easier than ever to stay in touch with technology and apps such as FaceTime, Facebook Messenger, Skype and WhatsApp. Don’t sweat learning another language. “In many countries with established expat communities, English is so widely spoken that learning another language is optional,” Staton said. When you choose another
The rate at which stocks have risen since the Great Recession make 25-year-old Rachel Grafman nervous. “I don’t think the markets can stay this high indefinitely,” said Grafman, a civil engineer in Denver. “When we contract, it will be big.” Grafman keeps tabs on domestic equities markets and has some knowledge of market history –
Following the 2008 crash, retirement plan advisors pushed to help employers and workers understand market risk. For Pottichen, that means selecting target-date funds based on the demographics of a given employer. For instance, an employer with an older population that has high savings rates and large balances might be better off with a target-date fund
There’s a reason these plans are catching on: They offer many tax benefits that are better than using a simple savings account. Not only can you get a tax deduction or credit for contributions (more than 30 states and the District of Columbia offer a direct state tax deduction for your contributions), earnings grow on
The second bill, the Family Savings Act of 2018 (H.R. 6757), includes changes to retirement and education accounts and creates a new tax-deferred savings account. For starters, the measure would remove the age limit on individual retirement account contributions. Currently, IRA owners cannot make additional contributions beginning in the year they turn 70½. Roth IRAs,
Growing up in Connecticut helped shield Emilie Hoogewerff, 24, from the crash. “I don’t think I knew how bad it was,” she said. Hoogewerff describes her hometown as a bubble for “rich, white people who don’t have much connection to what’s going on in the world.” But Hoogewerff was not rich. At 14, after her
Ultra-wealthy investors may be feeling bearish about the markets, but they are still searching for returns. Members of TIGER 21, a group of about 630 individuals with at least $10 million to invest, allocated more of their wealth toward stocks and riskier assets during the second quarter of 2018, according to the group’s quarterly report.
If you’re a member of the middle class, chances are things are looking up. Median household income reached a record $61,372 in 2017, up 1.8 percent from $60,309 in 2016. This marks the third year in a row that median household income has gone up, according to the U.S. Census Bureau, which compiled the data.
It’s important to note that the percentage is based on your insured value, not the damage caused. So if your home is insured for $200,000 and you have a 2 percent hurricane deductible, you’ll pay $4,000 even if the damage is only, say, $10,000. Policies also have coverage exclusions and limits that are helpful to
As interest rates continue to rise, investors now have a few options as to where they can store their short-term cash. “Now that we have begun seeing yields pop up to more meaningful levels, it’s important to shop around,” said Morningstar’s Benz. The Crane 100 Money Fund Index, which measures the 100 largest money market
Though the Salamones had laid the groundwork for some of their long-term goals, including opening 529 college savings accounts for their three children, they never had a formal financial plan. John didn’t have a will when he died, which initially made it difficult for MaryEllen to access the money he had left behind. It’s a
In the last decade, the S&P 500 has rallied 200 percent, yet many Americans are less willing to invest in the market than they were before 2008. Roughly three quarters of Americans, or 74 percent, said their financial habits have changed as a result of the financial fallout and Great Recession, according to a new
For the industry, the shift in policy and priority at the CFPB has been a welcome relief. “We appreciate the willingness of the bureau’s leadership to seek input from all stakeholders as it reviews the CFPB’s priorities to ensure that regulations benefit and protect consumers,” said Ian McKendry, spokesman for the American Bankers Association, in
Then, she was rattled by the failure of another investment bank, Bear Stearns. “There are so many risk and credit controls within these institutions,” Roitman, now 50, said. “Unless someone is doing something wrong, how does something like that happen?” The demise of the company cost her around $1 million in savings, she said. She
Americans can calculate if they are lower, middle or upper class by using Pew Research Center’s updated calculator. The interactive asks for state, metropolitan area, household income before taxes and number of people within a household to determine people’s “income tier.” Pew uses government data as recent as 2016 to calculate results. A couple with
The Atlantic hurricane season runs from June 1 to Nov. 30, although the peak season is mid-August to late October. Last year’s three monster storms — Hurricanes Harvey, Irma and Maria — hit during that period of high storm activity. Combined, they caused $265 billion in damage, according to the National Oceanic and Atmospheric Administration.
We’re used to kids caving to peer pressure — yet parents, too, can fall victim to the “everyone else is doing it” mentality when they’re on social media. Financial advice website Credit Karma reached out to its members who are parents to learn more about their biggest struggles. The survey revealed intense feelings of FOMO,
Reverse mortgages require you to be at least 62. They are typically for about half of your home value and must be the only mortgage on your primary residence. For example, if someone has just $100,000 saved after focusing on covering their children’s college tuition, but have managed to pay off their $600,000 house, they
Dollar advantage: $1 currently buys 19 Mexican pesos, up 5 percent from last year and about twice as much as a decade ago, according to OANDA.com. Airfare: The average round-trip flight price is $377, down from $381 last year, according to Hopper.com. Because of the warm weather, cheap flights and close proximity, Mexico remains an
Be aware that backdoor Roth conversions from nondeductible contributions can be tricky. If you have other IRAs, including a SEP and SIMPLE IRAs, with pretax dollars in them, you could face income taxes based on the overall value of all the accounts. This is known as the prorata rule. Further, if you’re due to take
UrbanSitter was the natural result of Perkins’ search for a more efficient way to connect parents and childcare providers, while building in recommendations from friends. Revenue for the last two years is around $270 million, based on 3 million hours of babysitting, according to Perkins. In some ways, it’s never been easier for women to
If you’re looking for a country that offers a quality retirement, you may want to look outside the U.S. Natixis Investment Managers has released its annual ranking of countries with the best retirement based on finances, material well-being, health and quality of life. This year, the U.S. managed to nudge up one spot to number
Among the other points you should know: under public service loan forgiveness, your debt is forgiven tax-free. Your private loans can’t be forgiven; only federal loans qualify for public service loan forgiveness. Kantrowitz said some people assume they’ll qualify for forgiveness after 10 years of payments. However, it’s not about how long you’ve been paying
It’s never too early to establish some guardrails for your child’s spending. Draw up a budget for the school year, and get to know the real cost of attending school. “Do you want to live well at college at the expense of living well after college?” asked Goldrick-Rab. Go beyond the school’s estimates: Think about
In addition, there is the risk that if you are covered by your spouse’s employer health plan and turn 65 that you can be kicked off the plan. This is not common, Votava said, and would only happen if the employer has fewer than 20 employees. For companies with 20 employees or more, there are