Forget getting up at dawn, or even skipping out on the pumpkin pie so you can queue up at Best Buy — this year, the deals are just as good online. This is also the first year that holiday shoppers will do the majority of their spending online, according to a recent study by Deloitte.
Employers increasingly are shifting more health-care costs to employees, so keeping the same plan could have a different result. The annual premium employees are on the hook for has risen 75 percent over the past 10 years, according to the Kaiser Family Foundation. More workers also must now cover a deductible. For starters, check out
Yet if a same-sex couple had lived together for 18 years before being allowed to legally marry in 2015 and decides to divorce today, whether that union began two years or two decades ago is not legally clear. “In some states, the courts will agree to tack on prior years of cohabitating … so it’s
Melina Mara | The Washington Post | Getty Images Speaker of House Paul Ryan and Senate Majority Leader Mitch McConnell announce the Republican tax reform initiative accompanied by members of the Senate Finance Committee and House Ways and Means Committee on Capitol Hill in Washington DC Wednesday September 27, 2017. If you’re looking for a
Student loan borrowers who work in public service jobs may want to double-check that they are doing everything they need to if they want their loans forgiven under a federal program. October marked the first month in which borrowers could have made enough qualifying payments to apply to have their debt wiped away. About 139
“Renovations to make a home safe and secure for a special-needs child can run into the tens of thousands of dollars, and sometimes hundreds of thousands of dollars,” Shenkman said. “If you’ve been thinking about renovating your house, you’d better do it now.” Shenkman said he personally used the deduction when renovating his residence to
If you wish use life insurance as a way to pass on wealth to future generations, you may want to consider getting permanent or whole life insurance. You may not have to take out an entire new policy to do this, said Branch. “Most term policies do have a conversion option in them, where you
Carlos Barria | Reuters President Donald Trump holds sample tax forms as he promotes a newly unveiled Republican tax plan with House Republican leaders in the Cabinet Room of the White House in Washington, November 2, 2017. As House Republicans mark up their tax overhaul, the Tax Cuts and Jobs Act, adoptive families are pushing
The average price for the insurance depends on your age and the level of coverage. A typical couple who are both age 60 pay about $100 to $150 a month for each policy, according to data released earlier this year by the American Association for Long-Term Care Insurance. In that case, the total annual outlay
The kids are all right when it comes to saving for retirement. Those are the findings from a recent Charles Schwab survey of 500 savers in a workplace 401(k) plan. Of the millennials polled, 64 percent said that they were “very or extremely confident” making investment decisions on their own. Older participants weren’t as certain
When it comes to retirement, there’s nothing more important than sand and sun, right? Wrong — especially if you’re looking for one of the “best” places to retire. “It’s like that saying, ‘don’t go into a grocery store hungry,'” said Bankrate.com analyst Taylor Tepper. After working for decades, you may be tempted to find the
How comfortable you are talking about money with your partner can make or break your relationship. The good news is that there are definite steps that couples can take to improve their financial compatibility, according to Kathleen Burns Kingsbury, a wealth psychology expert. The subject of money is still taboo for many. That inspired Kingsbury
Worrying about your wallet can mess up your head. Weighing whether to buy a house or a car or even how to budget for the week doesn’t just take a mental toll — those decisions actually impact brain function, according to a new study by Northwestern Mutual. Eight in 10 Americans are anxious about their
About nine in 10 employers offer dependent care FSAs, according to benefits administrator Alight Solutions. (It ran numbers based on its portfolio of 250 mid-size and large employers.) About 3 percent of eligible employees use them, with average annual contributions of $3,500, said Nicole Wruck, Alight’s national health practice leader. (Midway through open enrollment this
Men are more likely than women to splurge on their biggest gifts for their loved ones, despite an overall atmosphere of frugality this holiday season, according to a new survey from CreditCards.com. Just 29 percent of men plan to spend less than $50 on the most expensive present they buy, compared to 40 percent of
It’s open enrollment season, which for many workers, might not mean much. That’s a costly misconception. About half of employees don’t understand their benefits materials, according to a report by the International Foundation of Employee Benefit Plans. As a result, most workers just stick with what they’ve previously picked — 92 percent of workers last
Currently, savers can undo, or “recharacterize,” their Roth, or post tax, individual retirement account contributions to traditional IRAs, or pretax contributions, and vice versa. Savers usually have until Oct. 15 of the year following the conversion to undo the transaction. But the tax bill includes a repeal of the rule that allows for those transactions.
Getty Images Flanked by Speaker of the House Paul Ryan and House Ways and Means Committee chairman Rep. Kevin Brady (R-TX), President Donald Trump speaks about tax reform legislation in the Cabinet Room at the White House, November 2, 2017 in Washington, DC. Under the current system, a single filer can take a standard deduction
The new tax legislation essentially would shift much of the taxation from the recipient to the alimony payer. “Due to the disparity in tax rates that exist in these cases, this would have a negative effect on the payee. That’s the bottom line,” said Malcolm Taub, co-chair of Davidoff Hutcher & Citron’s Divorce & Family
Under current rules, itemizers can take a deduction for losses related to the “damage, destruction or loss of your property from any sudden, unexpected or unusual event such as a flood, hurricane, tornado, fire, earthquake, or volcanic eruption,” according to the IRS. This also includes theft losses. It covers your home, vehicle or possessions that
John Giustina | Getty Images A couple fishing in Vancouver, Washington. Not all seniors dream of kicking back in sunny destinations. Ideal retirement spots are a lot more diverse than you may realize, according to a recent study by Livability.com. The company analyzed U.S. cities on characteristics of livability that its research has shown to
The personal finance site compared average expenses for people age 65 and older, including groceries, housing, utilities, transportation and health care in every state to come up with how long a nest egg of $1 million would really last. Top 5 states where your dollar will last the longest:1. Mississippi$1 million will last: 26 years,
The trick is knowing where to apply. Guy Cecala, publisher and chief executive officer of Inside Mortgage Finance, recommends comparing interest rate and underwriting information from a credit union, a big bank such as Wells Fargo or JPMorgan Chase, and a non-bank lender. “There’s nothing wrong with getting a loan from a non-bank,” Cecala said.
It’s important for the self-employed to know the rules. Businesses must report all earned income and expenses. There are cases where businesses claim items that aren’t actually legitimately deductible. “They think that their personal cellphone that they may use for a few business calls, their home internet, their only car which they claim 100 percent
The scariest thing about Halloween may be the unintentional expenses. Between costumes, decorations and, of course, candy, the average American will be shelling out $169.81, according to a recent poll by LendEDU. Costume purchases made up almost half of that, with partygoers spending just over $70 on their disguises, LendEDU said. More than $60 will
Yet most people apparently don’t mind the risk. In the 2015-2016 flu season, just 43.3 percent of U.S. adults got the flu vaccine, according to the Centers for Disease Control and Prevention. For those under age 18, the rate was 59 percent. (Click on CDC chart below to enlarge.) At the same time, an estimated
Women are at risk of falling behind when it comes to personal finance and investing. And the stakes are high. Women’s median weekly earnings were 82 percent of men’s in 2016, according to the U.S. Bureau of Labor Statistics, which looked at full-time wage and salary employees. In addition to the income gap women face,
Andrew Harrer | Bloomberg | Getty Images An Equifax Inc. slide is displayed on a monitor during a House Financial Services Committee hearing in Washington, D.C., on Wednesday, Oct. 25, 2017. The next time you get home on a Friday night and find you’ve left your debit or credit card at the bar, don’t worry.
If you’ve recently graduated and skated through the summer without too much thought about your student loan debt, the jig is up. Seven in 10 seniors graduate with debt, owing over $34,000, on average, according to a recent report by Experian. However, the majority of borrowers, 56 percent, don’t know the interest rate on their
Consumers who do this: 14% “We think [a leak sensor] is one of the simplest and low-cost means people can employ to make sure they don’t have a significant water loss,” Gee said. It’s not a minor risk: 1 in 50 homes has a property damage claim related to water damage or freezing each year,