Personal Finance

During government shutdowns, “essential” workers, including those dealing with public safety and national security, continue working. Conway, like other “non-essential” workers, has been told to stay home on furlough, or temporary unpaid leave. At the top of his field, Conway makes more than $130,000 a year but is not prepared for an extended unpaid leave.
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According to Eargle, the scammer behind the letters is still at it. A bunch of letters went out across the country this month, with others going out in November and December. “The cost of an incorrect guess about someone being unfaithful is … the cost of a stamp these days, 50 cents,” Eargle said. “That’s
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At Sewickley Academy, a private school in Pittsburgh, families have yet to ask about the changes to 529 plans. While the Tax Cuts and Jobs Act is still very new, “my initial reaction is, I’m anxious to see how it plays out,” said Brendan Schneider, Sewickley’s director of advancement. The law expanded the use of
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Despite the #MeToo movement shining light on the issue of sexual harassment in the workplace — and taking down a number of high-profile alleged perpetrators in the process — it appears many victims remain silent. Of the 12 percent of workers who say they’ve experienced sexual harassment on the job, 72 percent have not reported
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With that — and rising medical costs — comes surging projections of what retirees can expect to spend for retirement health costs. A 2016 Fidelity study found a typical retired couple will have $260,000 in out-of-pocket health-care outlays. Long-term care could add another $130,000. “Be your own life insurance actuary,” said Mark Avallone, president of
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Looking after an elderly parent could cost you more than you expect: Your retirement security. Those were the findings from a study of caregivers by the Transamerica Institute, a foundation that specializes in retirement and healthcare issues. Last March and April, the institute polled 3,074 individuals who provided nonprofessional or unpaid care for friends or
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Anthony Wallace | AFP | Getty Images A woman touches an ATM machine for digital currency Bitcoin in Hong Kong on December 18, 2017. Back in 2013, Tyson Cross, a tax attorney in Reno, Nevada, helped a few dozen of his clients report cryptocurrencies on their tax returns. Today, that business has mushroomed. “I did
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“Ask, ‘Has my portfolio become unbalanced, because my equities have completely taken over the garden?'” Ballou said. “It’s time to do some pruning and take some money off the table.” Gauging your risk tolerance is especially key. For more risk-averse investors, forgoing some gains now might be preferable to the pain and panic of a
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When it comes to college, most families assume public schools are far more affordable. That’s only partly true. At public, four-year institutions, costs for the 2017-18 school year hit $20,770, according to the College Board. Tuition plus room and board at four-year private universities was much higher: $47,000, on average, in the current academic year.
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In retirement, just like in real estate, it’s “location, location, location.” With more and more retirees responsible for their own financial security, choosing the right retirement destination can make or breakany lazy-day fantasies. To that end, WalletHub compared the retirement-friendliness of all 50 states using criteria such as cost of living, crime rate, tax-friendliness on
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There are dramatic differences between traditional and Roth individual retirement accounts. And what you don’t understand about the particular rules that apply to them can cost you, according to IRA expert Ed Slott, founder of Ed Slott & Co. With traditional IRAs, you get a tax deduction up front. The taxes you pay on that
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If you pay someone to prepare your return, the person is required by law to have an IRS Preparer Tax Identification Number (PTIN). However, they all have differing levels of education, training and professional credentials. You can search for a preparer’s credentials and select qualifications at the IRS directory. If the person is an enrolled
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Unfortunately, after a year of chipping away at his student debt, Rizzutti learned during a phone call with a financial aid officer that not all loans are eligible for forgiveness — and some of his loans did not qualify. Just like that, he was back at square one. “It was disappointing,” said Rizzutti, who immediately
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“It’s exciting to contemplate what you’d do with any amount of extra money, but it might cause you to make financial decisions that don’t look so good in hindsight,” said Kathryn Hauer, a certified financial planner with Aiken, South Carolina-based Wilson David Investment Advisors in a December interview. Among the companies announcing worker windfalls, AT&T
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Certified financial planner Larry Breen, founder of Breen Financial Management in Lake Mary, Florida, said there are several requirements that should be in place for it to be worthwhile. First, while most deals stipulate that participants be accredited investors, who by regulators’ definition earn at least $200,000 per year, or $300,000 if they are married,
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Another problem with going into debt for cryptocurrencies is that people will have to pay back their debt before they see sufficient returns, said Erika Safran, founder of Safran Wealth Advisors. That may require tapping other resources, potentially creating further financial trouble. “If you can stay on for long enough, I believe you will be
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If you’re looking for an affordable private school education, look no further than Nebraska. The Cornhusker State is home to the lowest average tuition for private elementary and high school, according to the Private School Review, a site that gathers data on private institutions across the country. In Nebraska, the average cost of private school
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Domestic air travelers have been granted an 11th-hour reprieve. As of this week, all 50 states have met the Jan. 22 deadline to become compliant with Real ID or have an extension to do so, said Steve Yonkers, the Department of Homeland Security’s director of Real ID. That means passengers can continue to use their
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Politics aside, reviewing your W-4 is a good practice in any tax year. If not enough is withheld, you’ll owe money come tax time. Pay too much, and you end up with a large refund. “You may have different circumstances now compared to when you started working at your employer,” said Labant. Major life changes,
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