If you are launching a new venture, you may wonder whether it’s necessary to open a dedicated bank account for your business. Even if your company is established and already has separate checking and credit-card accounts, you may be tempted to pay business expenses from personal accounts on occasion — or vice versa — particularly
In response to a pandemic-induced sell-off in March 2020, the Federal Reserve announced that it would purchase corporate bonds, including riskier junk bonds, as part of its effort to stabilize the financial markets. Fed bond buying, along with a pledge to keep interest rates near zero for as long as needed, helped to calm the
Children are often covered by a parent’s health plan or by public health insurance such as the Children’s Health Insurance Program (CHIP). But young adults generally lose eligibility for CHIP at age 19 and for coverage under a parent’s health plan at age 26. Before they transition into employer-sponsored health plans or buy private health
529 plans are tax-advantaged education savings vehicles and one of the most popular ways to save for education today. Much like the way 401(k) plans revolutionized the world of retirement savings a few decades ago, 529 plans have changed the world of education savings. An overview of 529 plans Congress created 529 plans in 1996
In March 2021, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.6%, the largest one-month increase since August 2012. Over the previous 12 months, the increase was 2.6%, the highest year-over-year inflation rate since August 2018. (By contrast, inflation in 2020 was just 1.4%.)1 The annual increase in CPI-U — often called headline
Investing with an eye toward promoting social, political, or environmental concerns (or at least not supporting activities you feel are harmful) doesn’t mean you have to forgo pursuing a return on your money. Socially responsible investing may allow you to further both your own economic interests and a greater good, in whatever way you define
June 20, 2021 marks not only the start of the summer season. It’s also Father’s Day, a special day to celebrate dear old dad. Here are five facts about fatherhood in honor of the occasion. Sources: 1-2) U.S. Census Bureau, 2019 (most recent data available); 3-4) U.S. Census Bureau, 2020; 5) National Retail Federation, 2020
In late December 2020, Congress passed the Consolidated Appropriations Act, 2021, another relief package in response to the pandemic. The bill included several provisions related to education, including $22.7 billion for colleges and universities. Here are some key highlights. Simplified FAFSA. The bill accomplishes the long-held bipartisan objective of simplifying the Free Application for Federal
Qualified retirement plans, such as IRAs and 401(k)s, have many rules, and some of them can be quite complicated. Take the following quiz to see how well you understand some of the finer points. 1.You can make an unlimited number of retirement plan rollovers per year. a. True b. False c. It depends 2.If you
Buying a home is a long-term commitment, so it’s not surprising that older Americans are much more likely than younger people to own their homes “free and clear” (see chart). If you have paid off your mortgage or anticipate doing so by the time you retire, congratulations! Owning your home outright can help provide financial
