Financial News Features

As much flack as millennials get for their bad financial habits, they actually are pretty good savers. A recent survey conducted by Bank of America found that 73% of millennials are actively saving money and more than half (59%) have $15,000 or more in savings. Perhaps even more impressive, the survey found that nearly 1 in 4 millennials (24%) has $100,000 or more in savings. And while that seems impressive, is that actually enough?

It’s everyone’s favorite time of year: tax season! This year individuals have until May 17 to file their 2020 federal income taxes (versus the pre-COVID-19 date of April 15, which only quarterly payers need to heed).

The pandemic has created uncertainty in employment and the labor market, but a new survey found that eight in 10 retirees are confident in their ability to live comfortably throughout retirement. According to the 2021 Retirement Confidence Survey, 72% of workers expressed confidence in their ability to retire comfortably, up three percentage points from last year.

President Biden’s $1.8 trillion American Families Plan, unveiled before Congress earlier this week, includes a proposal to change taxes on inherited real estate. While the change is aimed at wealthy Americans, some experts argue it could affect middle class people as well.

In March, Elon Musk announced that Tesla would allow customers to purchase its electric vehicles using bitcoin — but will other major brands follow suit?

If you’ve been intentionally carrying a balance on your credit cards with hope of improving your credit score, you just may be making an expensive decision without getting any closer to your goal.