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This Episode In this episode, Jaime Catmull speaks with SVP and Head of Consumer Bank at Synchrony Bank Samantha Melting about how to save for retirement during inflation and navigating finances after losing a spouse. By Amen Oyiboke This Episode Where Else You Can Listen About the Show Our Host Melting dives in on what financial planning looks like after losing her late husband and gives tips on how to plan for retirement during tough economic times....

Financial literacy hasn’t been a top priority in U.S. schools, according to a new study. Data from the Nation’s Report Card on Financial Literacy claims that 66% of states earned grades C or worse when it comes to personal finance education. CNBC reported that only 17 states were given grades of A or B. By Josephine Nesbit See: Gen Z Teens Exceed Past Generations in Financial LiteracyLearn: A Parents’ Guide To Saving for Education...

New life expectancy tables go into effect this year to determine required minimum distributions (RMDs) from IRAs, 401(k)s and other retirement plans, which means you’ll need to pay close attention to how your withdrawals might be affected. By Vance Cariaga Learn: How Much the Average Person Collects in Social SecurityExplore: Most Tax-Friendly States To Retire Things could get even more complicated this year because of the new life expectancy tables....

The long-awaited Federal Reserve pivot might finally happen in December, as Chair Jerome Powell said it would make sense to moderate the pace of rate increases. Amid persistent inflation and an economy showing little signs of cooling down, all eyes were on Powell’s Brookings Institute speech for hints as to which direction the Fed would be taking at its December meeting. By Yaёl Bizouati-Kennedy Learn: How To Prepare Now for More Possible Inflation in 2023California Inflation Relief: Avoid Scammers While Waiting for Checks...

Americans have many concerns about saving for retirement. Right now, rapid inflation is topping the list, according to a new survey from Allianz Life Insurance Company of North America. In 2020, only 8% of Americans polled cited inflation as a concern. Today, that number has risen to 25%, CNBC.com reported. By Dawn Allcot Learn: How Social Security, Wage Hikes and SNAP Will Alleviate Inflation in 2022Explore: Fed Likely To Hike Interest Rates in June 2022 To Combat Spiking Inflation...

Of the four generational cohorts currently in the working world, Gen Z is probably the least likely to depend on Social Security to fund their retirement. Social Security’s cash reserves are expected to be fully depleted around 2034, when even the oldest Gen Z workers still won’t have turned 40 years old. By Vance Cariaga See: Can I Draw Social Security At 62 and Still Work Full Time?Find: 15 Worst States To Live on Just a Social Security Check...

If you’re planning to file for Social Security benefits, you’ll need to be aware of your protective filing date before you apply. Your protective filing date is the date you contact the Social Security Administration or the date that you formally file the application. This can also be established by a previous written or verbal contact by phone, mail, in person or online, AARP noted. By Josephine Nesbit Social Security Eligibility: What It Takes To Receive Max Monthly $3,895Learn: 7 Reasons You Might Not Receive Social Security Benefits...

A little-known tax break offered by the IRS to those with retirement accounts will be expanded in 2022 to include more Americans, and it could help you save up to $2,000 off your tax bill. By Vance Cariaga See: Jaw-Dropping Stats About the State of Retirement in AmericaFind: What to Consider When Choosing a Mortgage Lender Called the Saver’s Credit (formerly known as the Retirement Savings Contributions Credit), this tax break is available to low- and moderate-income Americans who are saving for retirement....

Today’s teens have more options than ever in terms of earning money. While teens seeking gig work decades ago were often relegated to babysitting for the neighbors’ children, landscaping, or delivering newspapers, today’s teens can easily establish their own business or take a variety of side gigs for extra money. By Dawn Allcot See: Teens & Taxes: My Teenager Had a Summer Job — Do They Need to File Taxes? Find: Teens & Taxes: I Received a Child Tax Credit for My College Student – Do They Need to File Taxes?...

In this age of the booming side hustle, ridesharing has become commonplace. Anyone with a car, a driver’s license and a cleared background check can potentially offer people rides and earn extra cash for doing so — but which service is best and what is the experience like? By Kelli Francis About Uber About Lyft Uber vs. Lyft for Drivers Uber vs. Lyft for Customers Uber vs. Lyft Cost See: 3 Easy Tips to Turn Your Credit Woes into Wows...

Wall Street strategists are preparing for what they believe will be the ultimate passage of the bipartisan infrastructure bill before a $3.5 trillion budget resolution. By Georgina Tzanetos See: 10 Programs in the Infrastructure Bill You Might Not Have Heard About Find: Wall Street Favors These 12 Stocks Ahead Of Infrastructure Deal Morgan Stanely’s head of public policy, Michael Zezas stated last week that their basis for this is Congress approving a total spending uplift approaching $4 trillion over the next 10 years....

Americans spend hours agonizing over how to improve their financial situation now and for the future. If you’re not sure how to manage your investments, check out what these financial planners consider the biggest money mistakes and what their advice is for each one. By Alaina Tweddale 13 Biggest Mistakes 13 of the Biggest Mistakes Financial Advisors Have Seen Take a look at these mistakes that financial advisors have commonly seen and how to resolve them....

Your bathroom needs an update, but you don’t have the time or money to invest in a full remodel. Instead, you’re hoping to refresh the currently tired space with a few quick and easy upgrades. By Jennifer Taylor Other Rooms: 8 Affordable Ways To Upgrade Your Primary BedroomAnd More: 7 Affordable Ways To Upgrade Your Kids’ Bedrooms Whether this is the only bathroom in the house or one primarily used for guests, you want it to look like a million bucks — without actually spending much money....

Cryptocurrency is fascinating for a number of reasons, but one of the most interesting is the fact that there has rarely been an asset class so popular that so many people know nothing about. Although most Americans are at least familiar with the term “Bitcoin” these days, the mysteries surrounding Bitcoin and cryptocurrencies in general for the average investor are countless. If you learn these five important characteristics of crypto investing, you’ll likely know more than your neighbor....

When it comes to fluctuations in the economy, it’s natural for people to worry. No one wants to see their money losing value, but a recession could do just that. The current state of inflation and interest rates has Americans concerned whether another recession could turn the stock market on its head. By Ashleigh Ray Find: 13 Ways To Make $100 in Just a DayLearn: The Minimum Salary You Need To Be Happy in Every State...

Norm Macdonald has died after a very private, nine-year battle with cancer, according to TMZ. He was 61. His long-time producing partner, Lori Jo Hoekstra, shared why he kept his battle a secret. By Angela Corry Macdonald’s Career Spanned Across Many Mediums Macdonald was best known for his comedic appearances, be it on stage, television or the silver screen. Even his smallest roles left a lasting impression on fans. The native of Canada first became a household name on “Saturday Night Live” during the show’s 1990s heyday as a series regular and “Weekend Update” host....

By the time 2021 rolled in, Americans were, for better or worse, acclimated to living in the new normal, aka, an ongoing pandemic. The economy started picking up following a year of devastation, the unemployment rate gradually dropped, the massive vaccine rollout commenced and, as if awoken from a stupor of fear, consumers began to spend more freely than they did in 2020…perhaps a little too freely. By Nicole Spector Numerous polls found that consumers were spending more this year than in 2020 — and not just on essentials like bills....

Your ability to financially endure what life throws at you is directly proportional to the size of your savings account — and that doesn’t bode well for most of America. By Andrew Lisa Here’s a look at where middle-aged America stands regarding financial preparedness and how they compare to their younger and older peers. More From Your Money: Choose a high-interest saving, checking, CD, or investing account from our list of top banks to start saving today....

An economic conundrum has been confusing both economists and business owners alike as the job market picks back up. In some places in the country, there are five times more jobs than there are people looking to fill them, and in others the ratio is 1:1. By Georgina Tzanetos Weigh In: What’s Causing the U.S. Labor Shortage? Take Our Poll Learn More: 25 Hot Jobs That Pay More Than $100,000 a Year...

By Gabrielle Olya Read More: Is It Smart To Wait For Black Friday This Year?Did You Know: The Best Time To Buy a Christmas Tree To Save Money Nicole Evans, Owner of Elevated Grounds Coffee & Espresso in Lindon, Utah “As a small business, we aren’t successful or able to remain open without local support. This isn’t only during the holidays, but all throughout the year. We know it’s easy to shop at chains for holiday shopping because it’s convenient, but small businesses have items that are unique to us that are just as great....