An alleged $1.2 billion Ponzi scheme that collapsed more than two years ago has resulted in some advisors losing their jobs. In the latest monthly rundown of disciplinary actions taken by the Financial Industry Regulatory Authority, or FINRA, four cases involve brokers who put clients’ money in the Woodbridge Group of Companies, which regulators claim

Chanel Reynolds got the call you never want. Her husband, Jose, had been in a terrible accident and was now in intensive care, irreparably wounded. A week later, with no signs of brain function, he was removed from life support and died. Meanwhile, Reynolds realized they had wills, but they were not signed or notarized.

In New York City, home to our nation’s financial markets, a staggering 74 percent of its students are considered economically disadvantaged. They are parallel worlds, a few miles apart and largely invisible to one another. This is an increasing challenge across our country: How do we build a path to economic mobility for more of

Political feuding in Washington is keeping Americans up at night. In all, 44% of participants in a recent survey by Bankrate.com said the biggest threat facing the economy over the next six months is the political environment in the nation’s capital. The personal finance site polled 1,000 people over the phone from April 2 to

Step aside, Florida. New Mexico is the new top retirement destination. Those were the findings from a survey by United Van Lines. The relocation company polled 26,998 of its customers who moved last year, through Nov. 30, 2018. Among those who moved to New Mexico, 42% said they did so because of retirement, making the

If you’re among the 4.3 million consumers whose car lease ends in 2019, don’t be surprised if going that route holds less appeal this time. With record-high auto prices, higher interest rates and generally weakening residual values on cars, consumers can expect to pay $1,600 more on average for a lease than they did in

Health insurance can get pretty complicated. Typically, the point is to pay some money every month so that when you have an accident or get sick, your medical costs aren’t so expensive that they bankrupt you. Two of the most important terms in health insurance are premiums and deductibles. Your premium is that monthly cost.

Tax season has come and gone — at least for the more than 103 million filers who submitted their returns before April 15. This spring marked the first time taxpayers and their accountants submitted tax returns under the Tax Cuts and Jobs Act. The overhaul of the tax code, which went into effect in 2018,

We all know that low- and middle-income workers generally don’t have enough saved for retirement. Richer folks, it turns out, might be in the same boat. That’s the takeaway from a new study by economists at the Schwartz Center for Economic Policy Analysis at the New School for Social Research. “We always knew the bottom

When asked what their biggest regret is when it comes to money, participants in the new CNBC and Acorns Invest in You Savings Survey certainly didn’t hold back. From dipping into retirement plan savings to frivolous spending and being too much of an easy touch, here’s a look at some of Americans’ biggest financial fouls

Drop the avocado toast. Many millennials can barely pay their tax bill. Six out of 10 people in this age cohort don’t have $500 set aside to cover what they owe the IRS for tax year 2018, according to a recent survey from Varo, an online savings bank. The company polled 1,200 U.S. consumers between

It probably comes as no surprise that your parents helped shape your financial habits. And a new survey from TD Ameritrade shows that the way your parents handled money is likely the biggest influence on how you manage your own finances now. That tops other events from your early years, including your household’s financial situation,

If you ask any Republican member of the U.S. House of Representatives or the U.S. Senate what is the most significant fiscal accomplishment of the Trump presidency, the overwhelming answer would be the Tax Cuts and Jobs Act, or TCJA. When passed in December 2017, the TCJA did not have majority American support. Despite this

Late filers: Don’t shred those receipts just yet. You might be able to nab a break on your state tax return. We are closing in on the final days of the 2018 filing season. It’s the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act. This overhaul of the federal tax

Many people who wind up with a smaller Social Security check because they claim their benefit early could have waited longer to file, thanks to funds in their individual retirement account. That’s the finding from a recently published study in the Journal of Pension Economics & Finance. “It seems like there is a significant portion

People were recently asked in the CNBC and Acorns Invest In You Savings Survey how they would spend an unexpected $5,000 bonus. Good intentions abound: More than a third of respondents said they’d pay off debt. Many others claimed they’d save for short-term expenses (22%) or invest for long-term goals (15%). A measly 2% said

Retirement may mean different things to different people, but most agree on one thing. It should be stress-free. However, lack of stress usually comes from years of planning and decades of saving — which not everyone can do. The average savings balance in the U.S. is less than $60,000. Few people can depend on pensions.

A dozen Democratic senators introduced a bill on Thursday to overhaul the popular but challenged Public Service Loan Forgiveness Program. The legislation, the What You Can Do for Your Country Act, would dramatically expand the pool of student loan borrowers who are eligible to have their debt cancelled. Sens. Tim Kaine (D-Virginia), Elizabeth Warren (D-Massachusetts),

Want to pay less to your credit card company? Make a phone call. While most cardholders have not requested a break on either interest rates or fees recently, the majority of those who did ask were successful, a new survey shows. In the past year — a time when interest rates were rising — 81%

New legislation that aims to give workers greater opportunities to save for retirement may put the kibosh on a strategy for passing large individual retirement accounts to heirs. Last week, the House Ways and Means Committee passed a bill known as the Secure Act. Among other things, the legislation would require employers with a 401(k)

Nothing is certain but death and taxes, Benjamin Franklin famously said. Today, that adage should also include rising health-care costs. As young adults start saving for the future, the ever-growing price tag of health care can throw a wrench into their plans. They should consider using a health savings account – it’s not the right

The lack of financial understanding by consumers has been signaled as one of the main reasons behind savings and investing problems faced by many Americans. To that point, a variety of financial research and reports have made it clear that we, as a country, need to focus on financial literacy. The TIAA Institute-GFLEC Personal Finance

Here’s a home improvement project nobody looks forward to: replacing a sewer line. For homeowners, the mortgage, property taxes and insurance only account for a portion of the cost of owning an abode. It’s those surprise emergency repairs that can destroy your budget. Indeed, 18% of homeowners polled by HomeServe USA said that they had

As student debt grows, so do the plans to squelch it. A new federal program offers up to $75,000 in student loan relief for those who work for three years in the health-care field, battling the opioid epidemic. South Korean automaker Hyundai announced this month that it will give $900 to people with student debt

On Sept. 28, 2018, President Donald Trump signed into law a bill allowing people with cancer to put their student loan payments on hold. The rollout of the new program has been rocky. The Education Department, in a notice in the Federal Register, writes: “The law was immediately effective, meaning that borrowers can immediately request

Relationship advice — “be honest, talk it over, respect each other’s feelings” — often goes right out the window when you’re in an actual relationship. Take money. Who talks about it honestly? Who can have calm discussions when tempers are running high over someone’s spending habits? “We don’t talk about money with anyone, even our

The recent drop in mortgage rates may have you dreaming of buying a new home or refinancing your current house. You’re not alone. Housing sentiment has surged thanks to those low rates, according to government-sponsored mortgage giant Fannie Mae. Its monthly survey, released Monday, shows that positive sentiment in March jumped to the highest level

If you’re looking for a new home in an urban area, you might be attracted to some more up-and-coming areas. But buyer beware: Some of those areas come with big risks. That is according to a new study from GOBankingRates, which evaluated cities based on multiple criteria: percentage of homes with mortgages in negative equity,

One day, you may look back on your 20s and wonder how you did it. The word “busy” doesn’t begin to describe the different things most people juggle in the years following graduation from college. If you type “your 20s are” into Google, autofill helpfully suggests “hard,” “lonely,” “the worst,” “confusing” and, perhaps most fittingly,

When it comes to making plays, NFL linebacker Brandon Copeland is no stranger to risky moves. Since graduating from the University of Pennsylvania in 2013, Copeland has gained notoriety with the Detroit Lions and the New York Jets, where he recently re-signed for the upcoming season. Off the field, he plays it very safe. “I