Retirement savers seek safe havens within their 401(k) plans. They may regret it later

Yongyuan | E+ | Getty Images Data suggests some retirement savers are seeking out safe havens within their 401(k) plans. But the move may hobble those investors in the long run; in fact, it may have done so just last month. Investors sold out of target-date funds and large-cap U.S. stock funds in October in…

Biden administration warns of ‘historically large increase’ in student loan defaults without debt forgiveness

Student loan borrowers gather near The White House to tell President Biden to cancel student debt on May 12, 2020. Paul Morigi | Getty Images Entertainment | Getty Images Student loan default rates could dramatically spike if the Biden administration’s loan forgiveness plan is blocked, a top official at the U.S. Department of Education said…

Credit card balances jump 15%, highest annual leap in over 20 years, as Americans fall deeper in debt

In an economy that has produced the highest inflation rate since the early 1980s, Americans are struggling to keep up with day-to-day expenses. More consumers are now relying on credit cards to get by, which has helped propel total credit card debt to $930 billion in the third quarter, just shy of the all-time record, according to…

Average 401(k) balances plunged 23% year-over-year due to market volatility, Fidelity says

In this article FIS Follow your favorite stocksCREATE FREE ACCOUNT Months of market swings have taken a heavy toll on retirement savers. The average 401(k) balance sank for the third consecutive quarter and is now down 23% from a year ago to $97,200, according to a new report by Fidelity Investments, the nation’s largest provider…

Deadline looms to use easy filing tools to sign up for missing $1,400 stimulus checks, child tax credit payments

Thomas Barwick | Digitalvision | Getty Images If you haven’t filed a 2021 federal tax return, there may be a chance you could be missing out on some generous tax credits. A simplified filing tool — GetCTC.org — will let you submit your information in order to receive any money due to you. But you…

Here’s why it may take a while for housing inflation to cool off

An ‘open house’ flag is displayed outside a single family home on September 22, 2022 in Los Angeles, California. Allison Dinner | Getty Images There are signs inflation may fall further in coming months, but housing threatens to mute any improvement. The consumer price index, a key barometer of inflation, rose 7.7% in October from…

Investors bought nearly $7 billion in Series I bonds in October. Here’s the best time to cash them in, experts say

MStudioImages | E+ | Getty Images If you’re one of the masses of new Series I bond owners, there are a few things to weigh before cashing in your assets, experts say.   Investors purchased nearly $7 billion in I bonds in October, according to the U.S. Department of the Treasury, with $979 million flooding into…

Why egg prices are surging — but chicken prices are falling: It’s an ‘act of God’ event, says trade strategist

A shopper checks a carton of eggs at a San Francisco grocery store on May 2, 2022. David Paul Morris | Bloomberg | Getty Images Which (price change) came first, the chicken or the egg? Grocery prices are increasing at their fastest pace in decades — none more so than eggs. Yet chicken prices fell…

Leading through layoffs: How to manage workers on their way out — and those who stay

High-profile layoffs at Meta and Twitter and planned cuts at Disney have heightened concerns on the part of managers and senior executives at employers nationwide who are struggling with how to lead a team through a round of corporate downsizing.  How a company handles a layoff can have a major impact on its future success….

You’ve been laid off — now what? Here are 3 steps to take if you lose your job

Srdjanpav | E+ | Getty Images Layoffs at tech giants Twitter and Meta this week have affected thousands — and they’re just the latest examples in a downsizing trend that was already taking place across the industry.  The news has put a spotlight on what rights employees have in mass layoff situations. While the laws…

Here are 4 ways to take advantage of your health-care expenses before the end of the year

ronnachaipark | iStock | Getty Images Health-care expenses can often be unpredictable and unwelcome. However, depending on your situation, there may be strategies you can employ that make those outlays a bit less financially painful. Because some of them involve taxes, experts say they shouldn’t be viewed in a vacuum. In other words, you may…

These 10 used cars have held their value the most

martin-dm | E+ | Getty Images Car buyers are usually aware that their new vehicle will start losing value as soon as it’s driven off the dealership’s lot. These days, depending on the car, depreciation may be a lot less than it was in past years, according to a new study from iSeeCars.com. With supply-chain…