Luis Alvarez | DigitalVision | Getty Images Ivory Johnson was one of the many financial advisors who were forced to pivot quickly when the pandemic hit the U.S. more than a year ago. In a business that is often relationship-driven, Covid largely put a halt to in-person meetings for advisors, including Johnson. However, the shift
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Westend61 | Westend61 | Getty Images Unemployment and stocks Older workers generally have a harder time finding work during downturns than younger cohorts. More than half (54%) of the 1.7 million unemployed workers age 55 and over are long-term unemployed, according to AARP, an advocacy group for older Americans. (Economists consider long-term unemployment to be
MoMo Productions | DigitalVision | Getty Images That early withdrawal from your retirement account last year may have been a life saver. Now, it’s time to start paying the taxman. Most retirement savers did not take a distribution under legislation that authorized penalty-free early withdrawals amid the pandemic. However, for those who did, the majority
Constantine Johnny | Moment | Getty Images The IRS may be extending the deadline to file your annual taxes for 2020 to May 17, but there’s no time like now to get started on them — no matter your circumstances. Perhaps you owe money that you don’t currently have. Maybe your life has been turned
Between stimulus checks and expanded tax credits in the latest Covid-relief package, most U.S. households are poised to get some extra cash. The amount? An average of $3,450 for the bottom 60% of earners ($65,000 or less), according to research from the Institute on Taxation and Economic Policy. The number reflects direct stimulus payments and
Rosamund Pike accepts the Best Actress in a Motion Picture, Musical/Comedy, award for “I Care a Lot” via video from Ben Stiller at the 78th Annual Golden Globe Awards on Feb. 28, 2021 in New York. Peter Kramer/NBC | NBCUniversal | Getty Images The Netflix movie “I Care A Lot” provides insight on how to
recep-bg | E+ | Getty Images Spring typically represents a new beginning, a fresh start and a bright outlook for the future. This also indicates that the time is approaching for hundreds of thousands of high school seniors to decide on what college they will be attending. As a wealth advisor and parent of one
fstop123 | E+ | Getty Images If you pulled money from your 401(k) plan or individual retirement account last year to get through tough times, now is the time to consider next steps. The federal CARES Act that was passed in March 2020 put in place very favorable terms for qualified retirement plan participants under
Democratic candidates for Senate Jon Ossoff (L), Raphael Warnock (C) and US President-elect Joe Biden (R) bump elbows on stage during a rally outside Center Parc Stadium in Atlanta, Georgia, on January 4, 2021. Jim Watson | AFP | Getty Images Wealthy Americans worried about the prospect of higher estate and gift taxes might have
US President-elect Joe Biden speaks at The Queen theater in Wilmington, Delaware on January 7, 2021, to announce key nominees for the Justice Department. Jim Watson | AFP | Getty Images President-elect Joe Biden’s stimulus proposal includes a bevy of tax credits aimed at stabilizing the finances for American families. Biden’s pandemic aid plan, which
LeBron James of the Los Angeles Lakers at a game against the LA Clippers at ESPN Wide World Of Sports Complex on July 30, 2020 in Lake Buena Vista, Florida. Mike Ehrmann | Getty Images In a search for revenue, state tax departments have set their sights on a tempting target: professional athletes. “If you’re
Oranut Fankhaenel / EyeEm | EyeEm | Getty Images Sustainability ratings are useful tools for assessing the environmental, sustainability and corporate governance-worthiness of mutual funds and exchange-traded funds. But how do you navigate between different ratings providers, especially when they can have different results for the same fund? CNBC looked under the hood at some
Sitting on a growing bitcoin fortune? Consider giving away some of it to charity. As 2020 draws to a close, the cryptocurrency has seen a massive surge in appreciation. The value of a single unit of bitcoin is now hovering around $27,000. Though long-time holders of the virtual currency are rejoicing, they run the risk
Ty Wright | Bloomberg | Getty Images For car buyers, the end of the year typically marks the best time to get a great deal. Things look a bit different this time around. While there are still discounts and special financing on certain makes and models, those incentives generally are not as generous as in
aluxum | E+ | Getty Images Sustainable investing incorporates environmental, social and governance considerations. But how exactly do these factors fit into the analytical process, and how do they add value? CNBC consulted with several experts to find out. In general terms, “we look at a company’s business models and where they operate geographically and
nd3000 | iStock | Getty Images Start young. Look away from your 401(k) when the market freaks out. Don’t sell. A lot of the investment advice you hear probably has to do with saving for retirement. Yet many people need to use the market’s returns to achieve other goals, too. Often it also makes sense
Smoke in the Blue Mountains of Australia after a forest fire. Andrew Merry | Moment | Getty Images If you’re like most Americans, you worry about global warming. Yet it can be hard to know how to channel that anxiety into action that will help the planet. One fairly simple way to make a difference
Patrick Pleul/picture alliance via Getty Images The coronavirus relief bill passed by Congress toughens rules around use of a common heat-trapping chemical and funnels billions of dollars into renewable energy. The measures, attached to a year-end government funding bill, were hailed by some lawmakers as among the most significant Congress has approved to combat climate
Karol Serewis/SOPA Images/LightRocket via Getty Images Financial advisors recommend various uses for this extra cash, depending on individual and family circumstances. Unemployed workers may need the money for basic living expenses. Some who have fallen behind on bills such as rent, utilities or mortgage payments should consider paying down some or all those arrears, advisors
After months of failed negotiations, lawmakers have finally agreed to a new $900 billion coronavirus relief package. Congressional leaders have not yet released text of the more than $2 trillion legislation — which will include broader government spending measures — but the pandemic recovery bill was set to include direct payments of up to $600
Juanmonino | E+ | Getty Images Congress wants business owners to head out to restaurants and claim a full tax deduction for doing so. Whether it will be enough to save embattled dining establishments is another story, financial advisors and tax professionals said. The $900 billion proposal, which was released on Monday and weighs in
House Speaker Nancy Pelosi, D-Calif., leaves a meeting on Capitol Hill on Dec. 18, 2020. Saul Loeb | AFP | Getty Images Lawmakers extended an additional lifeline to small businesses in the next round of Covid stimulus: more forgivable loans and the ability to take a tax write-off for covered expenses. Members of Congress reached
Angela Weiss | AFP | Getty Images At some point — whether this week or in coming weeks — at least a couple of people are going to suddenly find themselves a whole lot richer. The Mega Millions jackpot has reached an estimated $330 million for Tuesday night’s drawing. Powerball’s top prize isn’t far behind
Natnan Srisuwan | Moment | Getty Images Assets managed with environmental, social and governance considerations continue to surge. And while still largely driven by institutional investors, the retail side is growing dramatically. In fact, money managers who use ESG factors in their investment analysis say climate change continues to be their top concern and the
sturti | E+ | Getty Images A new stimulus check is in the works for millions of Americans. If you’re eligible for a payment, it may feel either like a life raft or a sudden windfall, depending on how Covid-19 has affected you and your family. The payments are said to be around $600 per
Federal Reserve Chair Jerome Powell prepares for a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, D.C. on Dec. 2, 2020. Jim Lo Scalzo | Reuters The Federal Reserve has made a move that cements its nod to the
Investors are increasingly interested in companies that are environmentally and socially conscious, and the world’s largest asset manager is no exception. In an annual letter to CEOs earlier this year, BlackRock Chairman and CEO Larry Fink said “climate change has become a defining factor in companies’ long-term prospects … But awareness is rapidly changing, and I believe
Climate change and low-carbon solutions are impacting investors’ portfolios. Mitch Diamond | Getty Images For some advisors, embracing environmental, social, and good governance principles means more than just investing sustainably; it also means expressing their values through their practices’ corporate structures and activities. For example, BSW Wealth Partners in Boulder, Colorado, recently converted to a
Halfpoint Images | Moment | Getty Images This year, doing good for the planet can also help you trim your tax bill. That’s because a basket of provisions in the tax code reward individuals and businesses for taking steps toward energy efficiency. Whether you added a few solar panels to your roof, bought a hybrid
Patrick Pleul/picture alliance via Getty Images Investors are pouring money into funds that aim to do environmental and social good. But one of America’s biggest pots of wealth — 401(k) plans — are stunting their growth. The popular savings plans and similar workplace retirement plans held $9 trillion as of last year — almost a
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