‘The biggest takeaway is just discipline.’ What it takes to build wealth, according to top financial advisors

Pavlo Sukharchuk | Istock | Getty Images When it comes to financial uncertainties, the list of current possibilities may seem endless. From high inflation to a possible looming recession and geopolitical turmoil, there are plenty of curve balls that may shift the U.S. economy and financial markets. But for individual investors who employ some tried-and-true…

Open enrollment for the health insurance marketplace starts Nov. 1. Here’s what you need to know about 2023 coverage

Fly View Productions | E+ | Getty Images For individuals or families that get — or could get — health insurance through the public marketplace, the opportunity to choose coverage for 2023 is nearing. Open enrollment, when you can pick a health plan for next year, runs Nov. 1 through Jan. 15 for the federal…

How college became so expensive, and how we can turn it around, according to a Pulitzer Prize-winning journalist

Zoom In IconArrows pointing outwards The average cost to attend a private college in 1970 was about $3,000 a year. Today, it costs more than $50,000. How we got to this point, and its seemingly endless consequences on families and U.S. society, are the issues explored in Will Bunch’s new book, “After the Ivory Tower…

SEC adopts rules aimed at boosting transparency of fees and performance in mutual funds, ETFs

PeopleImages Federal regulators on Wednesday adopted rule changes intended to make it easier for consumers to understand what they’re invested in and how much it’s costing them. Under amendments approved by the Securities and Exchange Commission, investment company ads will need to promote “transparent and balanced presentations” of fees and expenses. Additionally, shareholder reports from…

‘Ugly times’ are pushing record annuity sales. Here’s what you need to know before you buy

Izusek | E+ | Getty Images Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers. Annuity sales in the third quarter of 2022 approached $80 billion, just edging out the $79.4 billion record set in Q2, according to estimates published by Limra, an insurance industry…

‘There is no clear answer.’ How to decide between Roth and pre-tax retirement savings accounts

Ascentxmedia | E+ | Getty Images Add this to the list of challenging questions for retirement savers: Should I contribute to a pre-tax or Roth account? You may not know if you made a wise choice until decades have passed. Fortunately, there are some key factors to help make the decision easier, and situations in…

An economic index is flashing a recession warning sign, but it may be a ‘mixed signal.’ Here’s what you need to know

Michael M. Santiago | Getty Images A monthly gauge of what could lie ahead for the U.S. economy is flashing a recession warning sign. The Leading Economic Index dipped by 0.4% in September from August and is down 2.8% since March, according to the Conference Board, an independent group that publishes the index. The latest…

Your last chance to secure 9.62% annual interest for Series I bonds is Oct. 28

Insta_photos | Istock | Getty Images If you’re eager to secure 9.62% annual interest for Series I bonds for six months, the deadline is quickly approaching. You must purchase I bonds and receive your confirmation email by Oct. 28 to lock in the record 9.62% rate, according to TreasuryDirect. The rate is expected to drop…

Americans now say they will need $1.25 million to retire comfortably, survey finds

Mstudioimages | E+ | Getty Images Americans now expect they will need $1.25 million to retire comfortably, according to a new study from Northwestern Mutual. That figure represents a 20% increase from the $1.05 million respondents cited last year. That’s not necessarily good news for individuals who have seen their retirement savings decline in the…

There’s still time for big savers to use ‘after-tax contributions’ to funnel more into 401(k) plans for 2022

BartekSzewczyk | Getty If you’ve already maxed out 401(k) plan contributions for 2022 and you’re eager to save more for retirement, some plans have an under-the-radar option, experts say. For 2022, you can defer $20,500 into a 401(k), plus an extra $6,500 for investors 50 and older. But the total plan limit is $61,000 per…

Should you apply early to college? Here’s what the experts say about this ‘strategic game’

When it comes to getting into college, every little bit helps. Often college hopefuls turn to applying early to their top school to gain that edge. By demonstrating a preference to a particular college, studies have shown, an early application can give you a leg up, which goes a long way in the hyper-competitive world…

Biden administration could start forgiving student debt as soon as Sunday

Caroline Purser | The Image Bank | Getty Images The Biden administration could start discharging millions of Americans’ student debt as soon as Sunday. This is possible as some of the legal challenges brought against the sweeping policy by critics have failed in courts. A taxpayers group in Wisconsin earlier this week requested that the…