Boy_anupong | Moment | Getty Images After higher yields in 2023, investors are bracing for interest rate cuts that could put a damper on shorter-term savings. Federal Reserve officials expect three quarter-percentage-point cuts in 2024, according to December meeting minutes released Wednesday. But there’s lingering uncertainty over when, or if, those changes may occur. More … Read more
Most Americans believe they’ll need to save up at least $1 million to retire comfortably. But depending on where you plan to spend your post-work years, that may or may not be enough money to sustain you. If you plan on retiring in the United States, it’s helpful to get an idea of how far … Read more
The year-end is quickly approaching, but there’s still a chance to reduce your 2023 tax bill or boost your refund with some last-minute moves, experts say. Dec. 31 is the deadline for many tax-saving opportunities, which leaves limited time to take action. “It’s a little late to be super strategic,” but there’s still some “low-hanging … Read more
Tom Werner | Digitalvision | Getty Images As the calendar turns to a new year, you may be at risk for losing money if you have a flexible spending account. Many FSA owners have a Dec. 31 use-it-or-lose-it deadline to use the funds they have set aside for the year. The average forfeit of funds … Read more
Artistgndphotography | E+ | Getty Images 1. Tax brackets got wider When comparing tax year 2022 to 2023, there was a big adjustment to the federal income tax brackets, according to experts. While the rates didn’t change, there was roughly a 7% increase in the brackets, which expanded the amount of taxable income you can have … Read more
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