Carl Horzmann has found a way to take his 87-year-old dad scuba diving on the Great Barrier Reef, go skiing for the first time and bring him on a tour of his old neighborhood in Union, NJ, where he grew up — all with the help of virtual reality. As part of a Phase I … Read more
It took me 20 years of trial and error before I got started He achieved a net worth of millions of dollars. Now, at 64, I get income from the 18 businesses I started and the 12,000 housing units I own. But I wish I knew sooner how rich people think about money. I’ve built … Read more
Damercodec | E + | Getty Images This is an excerpt from the Personal Finance Team’s weekly Twitter space, “This Week, Your Portfolio.” Check out the latest episode hereand continuing every Friday at 11 a.m. ET. tax season Launched Jan 23. The IRS expects taxpayers to file More than 168 million returnees, most of them … Read more
Are you self-employed and wondering how to maximize your tax deductions for the 2022 tax year? Here’s a look at 15 of the best tax write-offs you don’t want to miss: Qualified work income. Mileage or vehicle expenses. retirement savings. Insurance premiums. office supplies. home office expenses. Credit card and loan interest. Phone and internet … Read more
If you made a transfer to a Roth individual retirement account in 2022, you may have a more complex tax return this season, experts say. Pre-tax transfer strategy Non-deductible IRA Funds to a Roth IRA for tax-free future growth tend to be more common during a Stock market downturn Because you can transfer more assets … Read more
Mstudioimages | E + | Getty Images To maintain your standard of living in retirement, the rule of thumb is that you need to be able to replace at least 70% of the income you were earning while you were working. But many retirees fall short of this retirement income goal, according to him Research … Read more
according to Federal Reserve Bank of New YorkUS household debt totaled $16.51 trillion in the third quarter of 2022, an increase of 2.2% from the second quarter of the year. But while debt often gets a bad rap in personal finance circles, it isn’t always detrimental to personal finances. “Debt can be a very powerful … Read more
Zachary Zerlin / IM | Eyeem | Getty Images in a year High inflation Across the vast American economy, some corners of the consumer market have done the opposite: the price has contracted. The largest declines, on a percentage basis, were concentrated in categories such as consumer electronics, beef, and cars and trucks, according to … Read more
Carrying a balance has always been expensive, but it’s especially expensive now. The average credit card interest rate in mid-December was 19.42%, the highest rate since 1992. As the Federal Reserve continues to raise short-term interest rates to stifle inflation, average rates could rise even higher, says Ted Rossman, Credit Card Analyzer’s Bankrate.comwhich tracks interest … Read more
Storty | E + | Getty Images Whether you have access to a retirement plan through work increasingly depends, at least in part, on where you live. Over the past decade, 16 state legislatures have adopted retirement savings programs targeting workers whose employers do not provide a 401(k) plan or a similar option. Some programs … Read more
