Personal Finance

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This year, millennials will reach a major milestone, surpassing baby boomers and Gen Xers to become the largest generation in the American workforce, according to a Pew Research Center analysis of U.S. Census data. Adults ages 18 to 34 now make up 1 in 3 American workers, Pew reports. And that number is only expected …

Should you refinance?

Are you one of the millions of Americas that could still benefit from a mortgage refinance, even as rates rise?

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Kickstarter crowdfunding app.

Your money might get you a cool T-shirt or bolster a good cause, but pledging money to a crowdfunding campaign isn’t the same as shopping online or donating to charity. Extra scrutiny may be required. Google “Greek bailout fund” and the top search result is currently an Indiegogo campaign aiming to raise the 1.6 billion …

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If you are in your 50s or 60s and are still caring for your kids financially, you really need to start caring for yourself—or you may never be able to afford to retire. A recent study found more than half of parents who are supporting adult children are “extremely concerned” about saving enough for retirement. …

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For many, staying late at work or coming in while sick is a badge of honor. It shows dedication to the cause. But could working when sick or working late – so-called presenteeism – actually do more harm than good? What then, is presenteeism? “It’s a fairly new term and (it’s)… not been precisely defined,” …

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Parents sending a kid off to college this fall have lengthy shopping lists, from those extra-long sheets for dorm beds to notebooks and flash drives. Your teen also needs to land on campus with some money smarts. Many teens are clueless about managing their finances. In a study of college students’ financial behavior by the …

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Prepaid debit cards have been catching fire, with usage up 50 percent between 2012 and 2014, and for many consumers they serve as a primary financial tool. So says a new study from the Pew Charitable Trusts released Tuesday. But prepaid cards come with fewer regulatory protections than traditional credit cards, the Pew study found. …

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Some of the top-performing municipal bond funds over the past five years have held huge stakes in Puerto Rican debt. Now that Puerto Rico’s governor has said the island’s roughly $72 billion in debts are “not payable” and asked for U.S. bankruptcy protection for the commonwealth, investors in those funds may take a big hit. …

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An alternative investment is anything that is not one of the three traditional asset types: stocks, bonds and cash. That means there is a wide range of investments that fall under the alternative investments umbrella, including hedge funds, managed futures, real estate, commodities and derivatives contracts, explains Richard Coppa, certified financial planner and managing director …

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Nearly a third of Americans age 55 and over have no retirement savings, and defined benefit pension plans are going the way of the dinosaur. So you’d think that employers would be doing a great thing when they automatically enroll employees in 401(k) plans. Not exactly. Auto enrollment, as the practice is known, does increase employee …

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In between honeymoon planning, cake tasting and registry scouting, soon-to-be-wed couples would be wise to set aside time to go over their spending habits and individual debt levels before they walk down the aisle. They may be in for a surprise if they subscribe to traditional gender stereotypes. That’s because 42 percent of adult men …

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Next time you’re sitting in traffic on the way to work, here’s a happy thought to entertain you: You’re probably overpaying for the privilege. A new Citibank survey found that workers spend an average $2,600 on their commute. That’s an average of $12 per day, they estimate, with some city residents shelling out more—in Los …

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For millennials, retirement can seem like a very distant goal. But there’s one big incentive to start saving early: If you start contributing to a retirement account when you’re young, your money can grow exponentially by the time you need it. “It’s magical stuff,” said certified financial planner Harriet Brackey, director of investments at GSK …

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Do you know how much your spouse earned last year? If you don’t, you’re not alone. In a new survey from Fidelity that takes a page from “The Newlywed Game,” 43 percent of the respondents could not say how much their partner earned, and 10 percent of that group were off by $25,000 or more. …

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Despite our best efforts, we continue to be shocked by new horror stories about the Social Security Administration (SSA) that our readers bring to our attention. The latest galling example is one of the worst we’ve ever seen, and involves how the agency decides what to do when someone wants to defer benefits. Readers of …