A detail of the statue of Satoshi Nakamoto, a presumed pseudonym used by the inventor of Bitcoin, in Budapest, Hungary. Janos Kummer | Getty Images News | Getty Images The price of popular cryptocurrencies like bitcoin and ethereum plunged Friday after Chinese officials intensified a crackdown, essentially declaring crypto to be illegal. The government intervention,

Sinenkiy | iStock | Getty Images Federal benefits for aged, blind and disabled Americans have not been updated in years. Now, some lawmakers and advocates are pushing for changes to the program — called Supplemental Security Income, or SSI — to be part of legislation being promoted in Congress. However, it is still unclear whether

A sign featuring Jeff Bezos calls for taxing the rich in front of the U.S. Capitol in Washington, D.C., U.S., on Wednesday, Sept. 15, 2021. Stefani Reynolds | Bloomberg | Getty Images The wealthiest 400 American families paid an 8.2% average rate on their federal individual income taxes from 2010 to 2018, according to a

In this article BCH.CB= Bitcoin resting on United States dollar banknotes. Nicolas Economou | NurPhoto | Getty Images Bitcoin‘s trademark volatility is again rearing its head, showing investors the risk they’re signing up for when they put money into the cryptocurrency. The digital coin cratered as much as 10% on Monday, amid a global market

zimmytws | iStock | Getty Images Treasury Secretary Janet Yellen made headlines this week with an op-ed suggesting government checks could run dry if Congress doesn’t raise the debt ceiling. “Nearly 50 million seniors could stop receiving Social Security checks for a time,” Yellen wrote. The House of Representatives has passed a bill to temporarily

Even though the Federal Reserve didn’t raise its benchmark rate Wednesday, your borrowing costs may still start to head higher. Rising prices brought on by the economic recovery are paving the way for the central bank to unwind last year’s bond buying. While the central bank said that interest rates will stay near zero for now,

Mint Images – Tim Robbins As Democratic lawmakers on Capitol Hill work to bring their new reconciliation bill across the finish line, a proposal to keep the expanded child tax credit could be changed. A more generous child tax credit was authorized earlier this year by President Joe Biden and Congress to help give families

Halfpoint Images | Moment | Getty Images New data on the monthly child tax credit payments shows how parents earning up to $50,000 a year are using the extra money. They’re investing it. The monthly checks started in July, and include up to $300 per child under age 6 and $250 per month for children

skynesher New retirees — or anyone on the verge of retiring — may want to consider what an extended stock market dip would mean for their portfolio over the long term. While the market has partially rebounded from Monday’s slide, it’s a good reminder that down markets can pose significant “sequence of returns” risk in

Sen. Ron Wyden, D-Ore., and Sen. Elizabeth Warren, D-Mass., speak to reporters at the U.S. Capitol on July 21, 2021. Anna Moneymaker | Getty Images News | Getty Images As Democrats wrestle over how to pay for their $3.5 trillion budget package, a new proposal to tax exchange-traded funds has already received pushback from the

In this article TSLA Jeff Bezos, left, and Elon Musk Getty Images; Reuters The wealthiest Americans may be dodging as much as $163 billion in income taxes every year, according to the U.S. Department of the Treasury, and many leverage tax laws to do it legally, financial experts say. Although U.S. levies increase with income,

fizkes | iStock | Getty Images Your 401(k) plan may have seen better days. A flurry of market risks have stocks in the red this week, with the Dow Jones Industrial down more than 800 points on Monday, or 2.4%. At the same time, the S&P 500 also shed 2.4%. But as uncomfortable as it

Chip Somodevilla | Getty Images News | Getty Images A tax package unveiled by House Democrats would forbid individual retirement accounts from holding certain private investments typically reserved for the wealthy. While proponents think the proposal would raise investor protection and reduce the use of an IRA as a tax shelter for the rich, critics

svetikd | E+ | Getty Images Millions of American families with kids have received three monthly payments since July totaling $45 billion through the new enhanced child tax credit. There’s a limited amount of time for families with eligible children to sign up if they didn’t get the checks automatically, likely because they don’t traditionally

Food is served at an outdoor restaurant in New York, August 3, 2021. Caitlin Ochs | Reuters As the delta variant has wound its way through the U.S., signs show it is also hitting the wallets of some Americans. A new report from Morning Consult finds that the delta variant is spurring pay or income

You want your kids to have a healthy financial life, yet knowing how to help make that happen may leave you stumped. It may be especially hard if you have your own money struggles. Yet teaching them as early as possible can make a difference. “There’s a lot of misinformation out there that they will

Sac C Wat’hn Buy Thna Thwi Phl / EyeEm | EyeEm | Getty Images One of the biggest unknowns for retirees may be whether they’ll eventually need long-term care — that is, help with daily living activities — and to what degree. Many people may end up requiring little care if they need any at

LifestyleVisuals | E+ | Getty Images Many older Americans worry about rising medical expenses, and those who may benefit most from a tax-friendly health savings account are the least likely to have one.  That’s according to a report from the National Poll on Healthy Aging, which surveyed Americans ages 50 to 80 about health expenses and savings. 

@canada_by_alexis | iStock | Getty Images Half of people who haven’t yet purchased a home point to their student debt as a reason for the delay. That’s the finding from a new report by the National Association of Realtors, which partnered with Morning Consult to conduct an online poll in June of 1,995 student loan

U.S. Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles P. Rettig at a June 8, 2021 Senate Finance Committee hearing. Tom Williams | Pool | Reuters Senate Finance Committee Chairman Ron Wyden, D-Ore., has floated a new levy on exchange-traded funds to help pay for the Democrats’ $3.5 trillion budget package.  Exchange-traded

Rukiya Zaman, 7, received a $100 in a scholarship 529 college savings plan as part of a New York City pilot program aimed at closing the wealth gap. Her parents have since started saving in their own account. CNBC Rukiya Zaman, who is a 7-year-old, dreams of becoming a NASA astronaut. The second grader, who

Halfpoint | iStock | Getty Images Legislation moving through Congress would make 12 weeks of paid family and sick leave available to most workers, and remove the U.S. from the small list of countries that are currently without such a policy. The exact details of the plan could still change, but experts say the historic

miniseries | E+ | Getty Images Setting up a household budget and sticking to it can be challenging. Impulse shopping doesn’t make it any easier. About 42% of consumers say they are worsening their financial situation by doing things like making impulse purchases and carrying more debt, according to a recent survey from BMO Harris

Kieferpix | iStock | Getty Images Many Americans are eager to retire. Yet one big concern about their golden years looms over them – whether or not they will have financial security. The average age at which Americans say they plan to retire is 62, according to a recent survey from Natixis Investment Managers. The

Unofficially known as “Big Sky Country,” Montana attracted more vaccinated than unvaccinated Americans last month. Mike Kemp | In Pictures Ltd. | Corbis Historical | Getty Images Lawmakers on Capitol Hill may pass a measure to curb abuses by taxpayers using a particular tax deduction for land preservation. The bill, named the Charitable Conservation Easement

Sturti | Getty Images Women are more worried than men when it comes to saving enough for retirement. The coronavirus pandemic hasn’t helped. Some 60% of women said they were concerned they wouldn’t be able to achieve a financially secure retirement, according to a February 2021 survey from the National Institute on Retirement Security. That’s

VALERIE MACON | AFP | Getty Images The Social Security cost-of-living adjustment for 2022 could be 6% to 6.1%, according to the latest estimate from The Senior Citizens League, a non-partisan senior group, based on new Consumer Price Index data released Tuesday. The Social Security Administration typically announces the cost-of-living adjustment for the following year

People wait in line at a food distribution site in the South Bronx on March 10, 2021 in New York. Spencer Platt | Getty Images News | Getty Images Poverty declined in 2020 by one measure following large amounts of federal aid enacted due to the coronavirus pandemic, including stimulus checks and enhanced unemployment benefits.

President Joe Biden speaks alongside US Vice President Kamala Harris (3rd L), as he holds a meeting with US Senators, including Ben Cardin (L), Democrat of Maryland, Jim Inhofe (2nd L), Republican of Oklahoma, Tom Carper (2nd R), Democrat of Delaware, and Shelley Moore Capito (R), Republican of West Virginia, about infrastructure improvements, in the

Rep. Richard Neal, D-MA, chairman of the House Ways and Means Committee, and Rep. Kevin Brady, R-TX, the ranking member, during a Committee hearing on May 24, 2017 in Washington. Drew Angerer | Getty Images News | Getty Images House Democrats on Monday proposed raising the top tax rate on capital gains to 28.8%, one