Inflation could mean a big Social Security cost-of-living adjustment in 2023

Sporrer/Rupp | Image Source | Getty Images Social Security beneficiaries started 2022 with a 5.9% cost-of-living adjustment to their monthly checks, the highest increase in about 40 years. But as inflation climbs with each month, the buying power of those benefit increases has diminished. The Consumer Price Index for all Urban Consumers, or CPI-U, rose … Read more

I bonds to deliver a record 9.62% interest for the next six months

Marko Geber | DigitalVision | Getty Images If you’re eyeing ways to fight swelling prices, I bonds, an inflation-protected and nearly risk-free asset, may now be even more appealing. I bonds are paying a 9.62% annual rate through October 2022, the highest yield since being introduced in 1998, the US Department of the Treasury announced … Read more

Renting apartment or home? Here is what experts say you need to know

Looking for an apartment or house to rent can be stressful. Rental prices have rebounded well above their pandemic lows and are now among the major inflation pain points for American consumers, along with food and gas prices. Several factors have contributed to the rising rents, including low housing inventors. It is a vicious cycle: … Read more

Goldman ‘deal guy’ behind Apple, GM cards leaves for fintech start-up iCreditWorks

iCreditWorks CEO Scott Young, former chief commercial officer of Goldman Sachs Marcus. Courtesy: Goldman Sachs A Goldman Sachs executive known for securing some of the industry’s biggest credit-card deals in recent years has left to join early stage start-up iCreditWorks, CNBC has learned. Scott Young, who was chief commercial officer of Goldman’s Marcus consumer business, … Read more

This lesser-known tax credit may offer families another write-off

The enhanced child tax credit captured America’s attention this summer as millions of families began receiving payments. But Congress also boosted a lesser-known write-off this year for working families: the child and dependent care tax credit. Often conflated with the child tax credit, the child and dependent care tax credit offers working parents a boost … Read more

Why there’s a push to forgive student loans but not other debt

Activists hold a student loan forgiveness rally near the White House on April 27, 2022. Anna Moneymaker | Getty Images News | Getty Images Throughout the conversation around student loan forgiveness, one frequently asked question is why cancel education debt, and not, say, credit card debt or mortgages? What’s so different about student loans? In … Read more

Considering a Roth IRA conversion? Here’s how to reduce the tax bite

If you’re considering a Roth conversion, your timing and yearly planning can significantly reduce the tax bite, financial experts say. The popular retirement savings strategy allows higher earners to skirt the income limits for Roth individual retirement account contributions. While the maneuver may kickstart tax-free growth, you’ll owe levies on pretax deposits. And boosting your … Read more

Nvidia, SEC reach deal on cryptocurrency disclosures in 2017

A sign is posted in front of the Nvidia headquarters on May 10, 2018 in Santa Clara, California. Justin Sullivan | Getty Images Nvidia will pay $5.5 million as part of a settlement with the SEC that it did not properly inform investors about how cryptocurrency miners were stoking demand for its graphics cards. Nvidia … Read more

Elon Musk says Twitter may charge businesses and governments

In this photo illustration, Twitter account of Elon Musk is seen on a smartphone screen and Twitter logo in the background. Pavlo Gonchar | Lightrocket | Getty Images Elon Musk has said that businesses and governments may soon need to pay a “slight cost” to use Twitter just weeks after announcing he plans to buy … Read more

Here’s how you can prepare if there’s a 50 basis point Fed rate hike

Consumers are spending more to keep up with the surging cost of living and it may get worse before it gets better. “Even though wage growth has been the best in decades, it’s been outpaced by increased household costs,” said Greg McBride, chief financial analyst at Bankrate.com. “With inflation at a 40-year high, that has … Read more

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