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In recent years, there’s been growing debate over the conditions of the U.S. middle class. What defines it today? How has it changed over the years? And perhaps, most urgently, why does it appear to be shrinking? And beyond that, where are they going? By Nicole Spector Read: How To Know If You’re Truly Middle Class (Hint: It’s More Than Just Your Income)Find Out More: What Income Level Is Considered Middle Class in Your State?...

Writing cover letters is one of the most dreaded parts of the job application process, but it’s a necessary one in most cases — a ResumeLab survey of over 200 hiring managers found that 87% prefer candidates who send a cover letter with their job application. While the cover letter is an opportunity to convince a prospective employer that you’re the right candidate for the job, it can also diminish your chances of getting an interview if you make certain mistakes....

Most workers know the basics about Social Security but don’t have an intimate understanding of how the program operates. Social Security is not some static retirement income program that guarantees a pot of gold at the end of your career. Rather, Social Security is ever-evolving, and the system that’s in place today might be significantly different by the time you actually retire. At various phases of your career, there are certain aspects of Social Security that you should pay particular attention to....

An annuity is a financial product that pays out a fixed amount in a series of payments. Annuities are popular — and polarizing — financial products designed specifically to provide guaranteed income. By Andrew Lisa Purpose How It Works Types of Annuities Pros and Cons Numerous types of annuities are available, as well as different options and contractual terms that can impact outcomes. You’ll want to consider each of these features before committing to an annuity contract....

For most of the last century, 65 has been considered the standard retirement age in the United States, but that doesn’t mean most Americans actually retire at that age. As recently as 1992, the average retirement age in the U.S. was 62 for men and 59 for women, according to a Forbes report that cited data from the Center for Retirement Research at Boston College. By Vance Cariaga Read: 8 Undiscovered Cheap and Beautiful Places To RetireMore: If Your Credit Score Is Under 740, Make These 4 Moves Now...

Saudi Arabia, the world’s leading oil exporter and second largest producer, has raised its official selling price (OSP) for July-shipping Arab Light crude to its largest market in Asia by $2.10 a barrel. This is up from June to $6.50 above its standard, as demand and cost for oil and gas remain at unprecedented levels. By David Nadelle Explore: How Much Cash You Need if a National Emergency HappensCompare: 6 Signs You Can’t Afford To Retire...

Analyst firm Piper Sandler believes Dollar Tree discount stores may not be able to remain profitable amidst inflation unless the company raises prices. Dollar Tree’s business model is to sell all items for $1. But inflation, coupled with wage increases, has forced the discount retailer to expand its pricing structure with the introduction of Dollar Tree Plus! — a collection of items available at $3 and $5. By Dawn Allcot See: Consumer Restraint Could Be Saving the U....

Roshni Cox is the COO at Hellebore Broadcasting Company, an NFT-powered play-to-earn sports prediction game and minting ecommerce marketplace. Cox — who held previous roles with The Walt Disney Company, ESPN, DirecTV and Sprint — said her entry into the crypto world was “serendipitous” and she had to “crash-course my way into understanding the bleeding edge of innovation.” By Yaёl Bizouati-Kennedy Retirement at Any Age: Get Retirement Tips That Fit Every Stage of Life Looking To Diversify in a Bear Market?...

One of the most striking phenomena of 2020 and early 2021 has been the rise of retail investors, who became more savvy and self-educated during the pandemic. This trend, combined with the rising interest in cryptocurrencies, increased the popularity of several trading platforms apps. By Yaёl Bizouati-Kennedy See: How COVID-19 Turned Day Trading into ‘Gen Investor’s’ Fun – and Lucrative – HobbyFind: The Dangers of Day Trading Not all the platforms offer same benefits or have an easy level of use....

The new year brings with it the opportunity to start fresh in every aspect of your life. This is especially true when it comes to getting on track with your finances. By Heather Taylor One of the best places to start is with your budget. You might find your existing budget has a few outdated goals in it, could use a new method for tracking your overall finances, or there’s some extra financial wiggle room in which you can focus on creating an emergency fund....

By Gabrielle Olya 2021 Small Business Spotlight: Check Out Our Small Business Stories, Plus the Nominated Businesses Near You In this edition of our Small Business Spotlight series, we’re featuring Roundhouse Coffee, a direct-to-consumer and online-based coffee company located in Chattanooga, Tennessee. Owner Shiloh McCulley has a passion for coffee and his community, hosting local pop-ups as well as delivering and shipping custom coffee packages. Here, we chat with McCulley about how the pandemic inspired him to pursue his dream, why his love of community has been an asset to him as a business owner and the inspiring advice he would give to other aspiring entrepreneurs....

The biggest lottery prize in history was just claimed in California. The record $2 billion Powerball jackpot made news, and not just for the jaw-dropping amount of cash. Early Tuesday, Nov. 8, while lottery players waited with baited breath, no winner was declared. Officials announced the drawing was delayed due to a technical problem, likely with the high number of ticket sales. By Yaёl Bizouati-Kennedy A winner was eventually announced later Tuesday morning....

Effective June 29, Bill Ready — veteran exec and now-former President of Commerce at Google — will be handling CEO duties for the visual inspiration platform Pinterest, taking over for Ben Silbermann. The announcement Tuesday resulted in an after-hours trading increase in Pinterest shares of more than 5%. But, even before the news, many stock prognosticators had Pinterest as a firm hold or buy. By David Nadelle Small Business Spotlight 2022: Nominate Your Favorite Small Biz by July 25Explore:22 Side Gigs That Can Make You Richer Than a Full-Time Job...

On Dec. 28, 2021, Elon Musk, billionaire CEO of Tesla and SpaceX, appeared on an episode of the Lex Fridman Podcast. In the 2-hour, 30-minute broadcast, the two discussed many topics, including Musk’s tips for young people seeking to achieve success. What were they? By Dawn Allcot Check Out: 20 Genius Things Mark Cuban Says To Do With Your MoneyMore: How To Get Rich With a Normal Job 1. Do Things That Are Useful for the World Musk, who is working to reduce or reverse climate change through the widespread development and use of electric vehicles and solar roofs, advised young people to “do things that are useful to your fellow human beings, to the world....

The child tax credit was expanded significantly in 2021 and many families received payments in advance, but you need to file an income tax return in order to get the full benefit. By Kimberly Lankford See: Child Tax Credit Guidance Updated by IRSFind: Stimulus Update — How To Request an IRS Trace for Lost Child Tax Credit Payment The American Rescue Plan Act of 2021 increased the child tax credit from $2,000 to $3,600 for children ages 5 and under, and $3,000 for children ages 6 through 17....

The filing deadline to submit your 2021 tax return is April 18, 2022, but you can still request an extension if you need extra time to do your taxes. By Josephine Nesbit See: Tax Breaks for Filers over 50 Find: The Wildest Things Your Taxes Are Paying For If you’re requesting an extension, you have until Oct. 17, 2022, to file. However, an extension of time to file is not an extension of time to pay any taxes that you owe....

Starting today, Americans who have a hard time paying for high-speed internet access can apply for discounts through a federal government program that can chop as much as $75 off monthly broadband bills. By Vance Cariaga See: Child Care Stimulus Money to Help Jobs Numbers, Biden SaysFind: More Stimulus Money May Be Coming Your Way – Here’s What to Do With It The Emergency Broadband Benefit, a $3.2 billion program from the Federal Communications Commission, covers $50 a month for high-speed internet service for eligible households and $75 for customers in Native American tribal areas, CNBC reported Thursday....

With summer winding down, America is cruising toward fall with the cost of gas moving in the right direction. Record-high fuel prices stretched the budgets of summer travelers across the country — although some regions suffered a whole lot more than others. By Andrew Lisa The Future of Finances: Gen Z & How They Relate to MoneyExplore: Your Biggest Money Etiquette Questions Answered That trend didn’t last long, though, as prices cooled as the days grew shorter....

With the government shutdown having been averted, at least for now, the next big date of consequence is the potential deadline for government default: Dec. 15, 2021. By Georgina Tzanetos Cheap Gas: How Come Costco & Walmart Have Such Low Prices on Gas?Learn: Unplug These Appliances That Hike Up Your Electricity Bill What’s the Difference? On Dec. 2, Congress approved emergency legislation to avoid a government shutdown, meaning that it agreed to fund the government through the middle of February....

With U.S. stocks now officially in bear market territory following an ongoing slump in the S&P 500, many investors might be wondering how long the current bear market will last. By Vance Cariaga See: 22 Side Gigs That Can Make You Richer Than a Full-Time JobFind: In Less Than a Decade, You Won’t Be Able To Afford a Home in These Cities In truth, it’s impossible to predict given the many factors that go into creating and sustaining a bear market — including economic trends, interest rates, sociopolitical events and the general mood of investors....