Child care is more expensive. What parents pay and how they’re coping

Hill Street Studios | Digitalvision | Getty Images American parents, already grappling with rising inflation, are facing another soaring cost: child care. Some 63% of parents report child care has become more expensive over the past year, according to a survey by Care.com. That high number has many concerned about whether they can afford care … Read more

Retiring soon with a pension? How interest rates affect your benefits

Courtneyk | E+ | Getty Images One major decision facing near-retirees who are due a pension can be whether to take those benefits as an upfront lump sum rather than over time as an annuity. If you’re among those leaning toward a one-time payment and are edging close to retirement, it may be worth considering … Read more

Here’s what the Fed’s highest rate hike in 28 years means for you

The Federal Reserve raised its target federal funds rate by three-quarters of a point, the largest increase in nearly three decades, at the end of its two-day meeting Wednesday in an effort to quell runaway inflation. “The motivation for all of this is that prices are going up,” said Chester Spatt, a professor of finance … Read more

I bonds are paying 7.12%. Rising inflation may increase yearly rates.

RyanJLane | E+ | Getty Images If you’re ratted by soaring prices, I bonds, a popular inflation-protected and nearly risk-free asset, may soon become even more appealing, experts say. While I bonds currently pay 7.12% annual returns through April, that rate may jump to 9.62% in May, according to Ken Tumin, founder and editor of … 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

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

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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