One of the most successful investors of all-time, Warren Buffet, once said, "It is wise to be fearful when others are greedy and greedy...

Every five years or so, credit reporting agencies modify how a consumer’s credit score is calculated. The latest revision will analyze personal unsecured loans and how they are being used by consumers. Over the past few years, personal loans have been growing faster than any other consumer debt category. The problem is that many consumers have been using personal loans as a way to transfer or pay off existing credit card debt, thus shifting credit debt to an unsecured loan st

Retirement plan legislation passed by Congress effective 2020 includes changes affecting millions of American retirees. The Setting Every...

The recent rise in wages is a fundamental benefit to the economy and financial markets as viewed by economists, although the monetary...

Taxes and income inequality have become a primary agenda topic for several presidential candidates. Various proposals from the candidates...

According to the most recent data released by the IRS, it took earnings of $515,371 to be part of the top 1% of earners in 2017. It took an additional 7.2% to crack the 1% mark from the prior year, equal to an additional $37,106 in income. Of the 138,945,000 individual tax returns filed in 2017, 1,432,952 returns fell into the top 1% category. The top 50% tax earners were, on the other hand, more representative of taxpayers across the country, with an income threshold of $41,

The Tax Cuts & Jobs Act passed in 2017, brought about various tax changes that affected most individual tax payers. Following are various changes to consider as we reach the end of the year. Withholdings & Estimates Withholdings and estimated taxes should be verified before year end, as the IRS withholding tables have been unclear since the tax law changes. Employees should check their withholdings before year end and make any necessary adjustments. Quarterly payments made by

Government agencies compile and track prices on a multitude of products from various sources. Dramatic price swings help economists determine who may be influenced and how the overall economy may be affected. Price changes on certain products tend to affect a larger portion of the population more so than other products. Over the past year, the cost of health insurance has climbed over 18%, affecting nearly everyone paying for health coverage. However, the increase in baby foo

Rules surrounding the distribution of funds from an Inherited IRA may change due to new rules being imposed. Those most affected by the new rules are retirees with generous IRA balances intending to leave funds to their children and grandchildren. Known also as Stretch IRAs, which have allowed IRA beneficiaries to stretch distributions and taxes over an extended period of time. Both the House of Representatives and the Senate have drafted their own versions of the new rules.

A measure of inflation as gauged by the Consumer Price Index (CPI) accelerated by more than forecast over the past year. The CPI, which...

The United States maintains a favorable trading relationship with many countries all over the world, yet only a handful encompass the bulk of all trading activity. For years, Mexico, China and Canada have been the top three trading partners with the United States, sending imports and exports across borders made up of all types of products and materials. Trade treaties with Mexico and Canada have facilitated trade with the U.S. for years, yet recently imposed tariffs on Chines

Historians and economists claim that there have been 47 recessions in the United States dating back to the Articles of Confederation,...

Fed Chair Jerome Powell communicated that the reduction in the Fed Funds rate was not going to be a series of reductions, but rather a...

Falling interest rates have prompted an increase in mortgage activity as the cost to borrow for home buyers has become less expensive. Mortgage rates fell in late July to the lowest levels since late 2016, with the average on a 30-year fixed rate conforming loan falling to 3.75%, down from 4.94% in November 2018. The challenge for many homebuyers has been rising home prices and affordability throughout the country. Slow rising wages and stagnant incomes have, for the most par

Identity theft and stolen funds are becoming a growing risk as thieves have devised clever methods of masking IRS communications. Various...

The summer months tend to see the heaviest travel of airline passengers across the country, with summer traditionally the most profitable...

Since 1960, the U.S. Department of Agriculture (USDA) has provided estimates of expenditures related to raising a child from birth to age...

As retirement becomes more of a reality for more Americans, the anticipated expenses associated with retiring can actually be less than when still working. Lifestyle changes and adjustments automatically occur once we retire. Such changes include not filling up at the corner gas station twice a week to get into the office, or perhaps not spending hundreds of dollars each year for work clothes. A number of expenses that existed during our working years may not necessarily be t

The Tax Cuts and Jobs Act includes a provision to now allow 529 Plans to be used for private elementary and high school expenses, rather than just college related expenses. The new rules are a treat for both parents and grandparents looking for a better way to pay for private educational costs. Prior to the Tax Cuts and Jobs Act, the only plan that allowed for tax-free earnings growth was a Coverdell Education Savings Account (ESA). Limitations on contributions and income has

Disparity of income has been a preponderate subject for politicians and activist groups for sometime, yet in the end, it’s those that...