Iran warned the United States on Wednesday that oil prices could soar to $200 a barrel as escalating U.S. and Israeli strikes against the country continue to rattle global energy markets. To prevent what could be one of the worst oil shocks since the 1970s, the U.S. announced that Washington,…
The Internal Revenue Service has doled out millions of tax refunds amid the ongoing 2025 tax filing season. More than 8 million tax refunds have gone out during the 2025 season as of Feb. 7 and, according to the IRS, those refunds have averaged $2,065 each. When taxpayers receive their refunds,…
Americans who are planning for their retirement can get bigger Social Security benefit checks by delaying their application for benefits until after they reach full retirement age. The monthly benefit payments to Social Security beneficiaries are determined based on their full retirement age (FRA), which varies based on the year a worker…
Balances for 401(k) retirement accounts hit the “second-highest average on record” in the final quarter of 2024, according to new data from Fidelity Investments. The financial services company found in its newly-released fourth-quarter retirement analysis that balances for that type of retirement plan averaged $131,700. That figure marked a jump of…
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The Federal Reserve just met to discuss the possibility of interest rate cuts. This time around, the Fed decided to…
More savers are embracing the tax-advantaged accounts, and many will contribute leading up to tax day. Young savers are flocking…
Small, everyday purchases like a meal from DoorDash are now able to be financed through eat now, pay later options…
Consumer prices fell 0.1% in March, according to the Consumer Price Index (CPI) released by the Bureau of Labor Statistics…
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As Generation X continues getting closer to retirement, some have less than rosy views about their retirement prospects, according to a recently released nonprobability-based study from Fidelity Investments. Fidelity Investments found in the latest edition of its annual “State of Retirement Planning” study that 45% of…
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Retirement remains top of mind for many Americans, whether they are approaching their so-called “golden years” or have many years to go before leaving the workforce. How much money a person needs to have saved to retire without financial stress is an important consideration in the retirement preparation process, and…
FICO said on Monday that it is going to incorporate buy now, pay later (BNPL) data into credit scores as the payment method surges in popularity. The FICO Score 10 BNPL and FICO Score 10 T BNPL will be the first credit scores from a leading credit scoring provider to…
The average net worth that Americans feel is needed to qualify as wealthy has surprisingly declined, compared to last year, though it is still an eye-popping figure, Charles Schwab found. The financial services company said in the latest edition of its “Modern Wealth Survey” that Americans now view $2.3 million…
For decades, Americans were given the same advice about money: Find a good financial adviser. Trust the person, not just the process. That model worked when markets were simpler, tax laws changed more slowly, statements arrived quarterly and financial decision-making wasn’t so complex. But today, investors are navigating inflation, volatile…
The Federal Aviation Administration (FAA) announced Monday that it selected eight proposals for a new pilot program testing new advanced air mobility and electric vertical takeoff and landing (eVTOL) aircraft in 26 states. Transportation Secretary Sean Duffy and the FAA unveiled the pilot program, known as the Advanced Air Mobility and…
A strong credit score can be the key to major financial purchases and affordable loans, but some states saw notable declines that created a “perfect storm” for Americans’ wallets, according to a credit repair expert. On Thursday, WalletHub released its list of the states with the largest credit score decreases,…
Oil prices briefly spiked to more than $100 a barrel on Monday amid the ongoing war in Iran, before falling sharply, underscoring how initial fears of supply disruptions eased as contingency plans emerged. Before the outbreak of war with Iran, oil was trading in the range of $60 to $70 a…
Investors are increasingly focused on not just how they invest their money but also how they can optimize their after-tax investment outcomes. Allspring Global Investments is dedicated to helping investors navigate the evolving tax and estate planning landscapes. Concentrated stock positions can create unwanted risk in investors’ portfolios. Despite the…
High oil prices due to the Iran war are pushing gasoline prices higher and that could lead to grocery bills rising for American consumers. Oil prices surged in recent weeks after the outbreak of the Iran war, rising from the $60 to $70 a barrel range for most of February to…
Federal Reserve policymakers are monitoring the conflict with Iran for its potential impact on inflation and consumer prices, as energy prices have jumped since the outbreak of hostilities. Oil prices briefly surged over $100 a barrel amid fears of supply disruptions caused by the conflict with Iran, which threatens to stem…
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