A college education is now the second-largest expense an individual is likely to make in a lifetime — right after purchasing a home. For many, it also requires going deep into the red. Seven in 10 seniors graduate with debt, owing about $29,650 per borrower, according to the most recent data from the Institute for

You should think twice about break-even ages if you’re married. “For a married couple, thinking in terms of break-even age is actually dangerous,” Elsasser said. Someone who is married and looking at the breakeven is saying, “I think I should claim early because I’m not sure that I have a long enough life expectancy to

By the time a person’s student loans fall into default, they will see their credit score tank around 60 points, to an average of around 550, which is considered “very poor,” by rating company Experian. Borrowers who stay current, on the other hand, have scores on average in the high 600s. A low credit score

The IRS tax withholding calculator can help you avoid a surprise tax bill next spring, but be sure to run your results by your accountant before you tweak the income taxes pulled from your pay. That’s because user error and failure to consider your state and local tax loads could lead to you making incorrect

Previously, tax professionals pondered whether enterprising employees could leave their jobs, start their own business, and be rehired by their old company as independent contractors. This way, these new entrepreneurs could qualify for the 20 percent deduction. The IRS also put the kibosh on that. “If you worked for the employer and became an independent

When Kate lived in New York City, she used to shop every day. If she went to shop for designer hand bags, she wouldn’t just buy one. She would buy three. If she went shopping for designer shoes, she would buy six pairs at a time. In order to find room for her purchases, she

In 2015, some 15.5 million workers in the U.S. worked in jobs related to driving, according to an August 2017 report from the Department of Commerce’s Economics and Statistics Administration. Only 3.8 million of those workers operate motor vehicles such as a truck or taxi. Among those workers, truck drivers are more vulnerable to automation

Another part of college planning affected by divorce is financial aid eligibility. If your children are already in college or are within two years of attending, you’ll want to make sure you understand at least the basics of how aid is calculated. Here are some things to consider. 1. Who is the custodial parent? On

In 2006, when CareerBuilder first began tracking whether employers were making social media checks, just 12 percent of companies were using them as a screening tool. By 2010 that figure had grown to 25 percent and now stands at 70 percent. And based on the survey, the scrutiny continues after you’re hired: 48 percent of

“Investing is not a get-rich-quick scheme and trying to time a volatile market with hopes for huge gains is a serious financial risk,” Greg Anton, a CPA and chairman of the AICPA’s National CPA Financial Literacy Commission said in a statement. “For most people, seeking incremental gains over a longer time horizon is a safer,

Today’s young people are also in no rush to reproduce. The share of married households with children, aged 18 to 34, dropped to 25 percent in 2015, from 37 percent in 1990. And having a child increases a person’s chance of owning a house by 6 percentage points, the researchers calculated. Millennials are also a

At a professional conference in July, Bright Horizons, a national childcare chain, announced that the company would pay for any of its employees to pursue an associates or bachelor’s degree in early childhood education. Lori Carroll, 45, is the director of a Bright Horizons facility in Worchester, Massachusetts. When she heard the news, she asked

Michael Taylor used to sell bonds for Goldman Sachs. Now he’s focused his efforts on making young people understand the importance of investing early. “We don’t teach compound interest math in school,” Taylor said. In his new book, “The Financial Rules for New College Graduates,” along with a YouTube series, he breaks down the concept.

When working with an advisor, ideally you will work with someone who follows the fiduciary standard. That means that they are obligated to act with your best interest in mind. But calling yourself a fiduciary does not necessarily make you one, Levine said. In order to really be a fiduciary, your advisor has to want

Think twice before allowing your child to bail from that class. Talk to the professor: If your child is struggling and it’s too late to drop the course, he should meet with the professor. “Maybe you’re working too many hours and can’t put in the time required for the class,” said Goldrick-Rab. “Ask the professor

Priya Malani, a founding partner at financial planning firm Stash Wealth, has a different take on the sharp increase in desired salary. She lays it directly at the presence of social media in our daily lives, which can make it difficult to determine realistic goals around purchases and lifestyle. “Your friends appear a lot richer

“It’s hard to do these types of big-dollar transactions under the best of circumstances,” said J.R. Lanis, a partner at the Los Angeles office of national law firm Drinker Biddle. “If you bring in smaller investors, it’s a coordination nightmare.” Generally speaking, private companies are allowed to have up to 2,000 regular shareholders without triggering

Having health insurance shields you from the full brunt of medical expenses, but it’s no guarantee that your costs will be low. Nevertheless, health-care bills still come as a surprise to many individuals who have insurance. Close to half of adults who bought their own coverage, along with 43 percent of those with insurance through

Inaccurate information can arise from errors in information supplied by a creditor or from a mistake made by a credit-reporting firm, or from fraud — i.e., someone uses your personal data to open a credit card account. Additionally, knowing what’s on your report and understanding how it impacts your credit score gives you the power

When it comes to buying a home, $300,000 will get you more house in some states than others. Personal finance website GOBankingRates used real estate website Zillow’s home price index to determine just how far that much money can go. Some of the results — which peg the Northeast and West Coast as high-cost and