Here’s why more than 7 million student loan borrowers could miss out on federal forgiveness program

Freshsplash | E+ | Getty Images The White House has repeatedly said that its application for student loan forgiveness, which is expected to go live within days, will be simple. Still, consumer advocates say that any red tape around the relief is likely to cause millions of borrowers to miss out on it. “Those who…

Congress is still considering changes to the retirement system, including catch-up contributions

Tom Brenner | Reuters There’s still a decent chance that changes to the U.S. retirement system will be enacted before the end of the year. Despite there being just a few months left before the next Congress convenes Jan. 3 — the midterm elections will be Nov. 8 — the push to improve Americans’ ability…

Here’s how uber-rich pass wealth to heirs tax-free when markets are down

Brand New Images | Stone | Getty Images A lousy stock market is often no reason for investors to cheer. But for the uber-rich, it may offer a route to lower estate taxes down the road. That’s because one type of trust gives them better odds of shifting some wealth to their children, grandchildren or…

Rivian shares slump after the company announced a big recall

In this article RIVN Follow your favorite stocksCREATE FREE ACCOUNT Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Shares of Rivian Automotive opened sharply lower Monday after the electric vehicle maker said late Friday that it is recalling more than 12,000…

Shaquille O’Neal reveals Jeff Bezos’s investing principle that he still uses today

Shaquille O’Neal attends the second preseason NBA game between Atlanta Hawks and Milwaukee Bucks at Etihad Arena on October 8, 2022 in Abu Dhabi, United Arab Emirates. “If you invest in things, it’s going to change people’s lives, you will definitely get a nice return,” the previous NBA star recalled Bezos sharing in a tech…

Medicare’s annual fall enrollment period starts Oct. 15. Here’s what you need to know

momcilog | E+ | Getty Images It’s almost the time of year for Medicare beneficiaries to give thought to their 2023 Medicare plan. The program’s fall open enrollment period, when you can make changes that take effect Jan. 1, starts Oct. 15 and runs through Dec. 7. This window is for coverage related to prescription…

IRS delays guidelines, waiving penalties for some inherited retirement accounts until 2023

Zinkevych | iStock | Getty Images If you inherited a retirement account in 2020 or 2021, the IRS is waiving penalties for some heirs who needed to start taking required minimum distributions right away, according to a notice issued Friday. The new rule won’t apply until 2023. Typically, there’s a 50% penalty when you skip…

Chinese chip stocks tumble after U.S. calls for new curbs on high-end tech

A worker at a chips factory in Chongqing, China, on March 30, 2022. Future Publishing | Future Publishing | Getty Images BEIJING — Chinese chip stocks fell Monday after the U.S. announced new export controls aimed at limiting Beijing’s ability to produce advanced military systems. The sweeping rules mean companies must apply for a license…

China’s top leaders are set for a reshuffle. Here are the names to watch

China’s top leadership team around President Xi Jinping is set to change this month at a twice-a-decade congress. Pictured here is the last such congress in 2017, with Xi at the center. Nicolas Asfouri | Afp | Getty Images BEIJING — China is poised to reshuffle the top officials surrounding President Xi Jinping at a…

European countries face an air-conditioning Catch-22 after its red hot, record-breaking summer

Europe is facing a tough winter, as inflation and energy prices continue to rise. The continent also faces tough decisions following its scorching hot summer Heat waves in Europe broke records, sparked widespread wildfires and even damaged a busy runway at a London airport. Unlike the U.S., European countries don’t rely on air conditioning to…