As you gear up to enjoy the summer, the IRS has a message: don’t let down your guard!
The agency recently released its annual 'Dirty Dozen' tax scams, a kind of “worst of” fraudster guide for 2022. As it has done for more than 20 years, the IRS highlights the most prevalent scams and schemes to raise awareness among taxpayers and the ...Read more
How are you feeling about retirement? According to the Employee Benefit Research Institute’s 2022 Retirement Confidence Survey (RCS), pretty good.
“Over 7 in 10 workers are at least somewhat confident, including almost 3 in 10 who are very confident,” and retirees are also upbeat, “with nearly 8 in 10 confident they will have enough ...Read more
Members of the college class of 2022 may not consider themselves lucky. After all, COVID-19 robbed many of them of the complete college experience. Perhaps their reward for the start and stop of in-person/remote/hybrid education is to graduate in one the hottest job markets in decades.
Job openings remain high, the unemployment rate is low and ...Read more
As I write this, traders and the financial media are breathlessly eyeing a magic number for the S&P 500: 3,837.25. That’s the level below which the broad U.S. index must close to technically qualify as a bear market, or a 20% drop from the recent peak.
Prior to this year’s sell-off, there have been 14 bear markets since 1945 (and 3 more ...Read more
When the Federal Reserve Bank of New York released its report on household debt, the numbers were eye-popping. Total household debt in the first quarter of the year increased by 1.7% to $15.84 trillion, putting balances “$1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic.”
The details showed that big jumps in ...Read more
Despite your fervent wish to avoid down markets at all costs, I have bad news: being a long-term investor means that you need to do just that.
It’s been a tumultuous ride in 2022 – and most of the action has been to the downside. The most recent selling started after the Federal Reserve’s May FOMC meeting, where, as expected, the central ...Read more
Over a year ago, hopes were high for a post-pandemic surge in activity, encouraging economists and optimistic investors to wager that the U.S. was entering a NEW Roaring Twenties.
“What a difference a year makes,” says Neil Shearing of Capital Economics. “The narrative has now flipped as concerns about recession have spread,” prompting ...Read more
What happens when the so-called “safe” part of your portfolio loses value?
That’s the conundrum that diversified investors are facing, as they confront this year’s drop in bond prices. While most are used to absorbing the swings in riskier assets, the 2022 bond market rout is unrecognizable to many.
Before you bail on your bonds, let�...Read more
When the government released March inflation data, it showed that prices increased by 8.5 percent from a year ago, the fastest pace since December 1981. Gas (+48.8%), food (+8.8%) and used cars (+35.3%) showed eye-popping advances, but another line item is also worrisome: shelter, which increased by 5% annually. That may not seem so bad when ...Read more
Tick-tock…the tax filing deadline is coming up and if you are either a procrastinator or someone who has delayed filing because you owe Uncle Sam money, it’s time to get going!
As a reminder, this year’s tax filing deadline is April 18, because we now recognize the Emancipation Day holiday in the District of Columbia.
Here are six tips ...Read more
As college acceptance letters pour in, it’s time for families to get real – and to make decisions that could have long-term implications.
Let’s start with a mathematical fact: although we are in a tight labor market and wages are rising, an undergraduate degree is still worth it. According to research from the Federal Reserve Bank of New ...Read more
It’s a happy coincidence for clean freaks like me that the height of tax season occurs as spring begins. The very moment when you are forced to gather and organize your tax materials is a great time to clean up some of those overflowing and physical files and to understand in which instances you can consolidate various accounts.
Let’s start...Read more