Personal Finance

Getty Images Changes are coming for risk-averse Vanguard investors who are parking cash. Late next month, Vanguard will transition its $125.3 billion Prime Money Market Fund to a government money market fund, investing “almost exclusively” in U.S. government securities, cash and repurchase agreements backed by government securities or cash. The fund will be renamed the
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DusanManic | iStock | Getty Images Many people’s retirement dreams received a reality check following the economic downturn caused by the coronavirus pandemic. New research shows that’s especially true for older workers. A recent report from Democrats on the Joint Economic Committee of Congress found that workers ages 65 and up were hit harder by
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Amid one of the worst public-health crises in history, a record number of Americans are without health insurance. John Fedele Amid historic levels of unemployment, as many as 12 million Americans may have lost their health insurance since February, according to a study by the Economic Policy Institute.  “Because most U.S. workers rely on their
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valentinrussanov | E+ | Getty Images  If the economic havoc from the coronavirus persists, distressed homeowners could find themselves facing a terrifying prospect next year: Foreclosure. The CARES Act, the pandemic relief act that became a law this spring, sought to keep millions of Americans in their homes. In particular, it gave borrowers with federally
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Downed power lines are seen on Highway 90 after Hurricane Laura passed through Iowa, Louisiana, August 27, 2020. Elijah Nouvelage | Reuters As communities along the Gulf Coast assess the damage left in Hurricane Laura’s wake, homeowners elsewhere may want to double-check their own insurance coverage. The massive storm made landfall early Thursday in Louisiana
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Tenants of the Woodner apartment building in Washington, D.C., protest to demand their rent be forgiven during the Covid-19 pandemic. NICHOLAS KAMM/AFP via Getty Images Unemployed workers living in most U.S. cities can’t cover basic living expenses with jobless benefits alone. In fact, Americans living in just 12 out of 109 metro areas could afford
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PayPal is fighting back after several consumer advocacy groups cited the payment provider for what they called “predatory financial practices.” In a joint letter to the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency, the consumer groups, including the Student Borrower Protection Center, Americans for Financial Reform, Student Debt Crisis and
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Yoshiyoshi Hirokawa | DigitalVision | Getty Images Retirement savers who took a mandatory distribution from a retirement account this year have a week to put the money back. The CARES Act, the coronavirus relief bill signed into law this spring, allows people with retirement accounts to skip required minimum distributions for 2020. RMDs are the
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CasarsaGuru | E+ | Getty Images This fall’s back-to-school shopping list certainly isn’t looking like those of years past. With many schools across the country going virtual, or offering part-time distant learning, parents are rethinking what their kids will need as the school year gets underway. “We’re being forced to really look at how we
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Former Vice President Joe Biden, Democratic presidential nominee, speaks during the Democratic National Convention at the Chase Center in Wilmington, Delaware, U.S., on Thursday, Aug. 20, 2020. Stefani Reynolds | Bloomberg | Getty Images Joe Biden accepted the Democratic presidential nomination on Thursday night, which could be the beginning of a series of reforms for
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Unemployed Kentucky residents enter the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. John Sommers II/Getty Images Kentucky and Montana It appears just two states — Kentucky and Montana — are opting to pay $400 instead of $300. As of Thursday, Montana was the only state to implement the
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Former vice president and presumptive Democratic presidential nominee Joe Biden and running mate Sen. Kamala Harris, D-Calif., hold a press conference after a briefing on Covid-19 in Wilmington, Delaware, on Aug. 13, 2020. Mandel Ngan | AFP | Getty Images The coronavirus pandemic could have a big impact on Social Security’s financial prospects. And that
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Many retailers across the U.S. are shuttering storefronts like this Manhattan outlet in New York amid the ongoing Covid-19 downturn. Carlo Allegri | Reuters With negotiations between Republicans and Democrats over the shape of the next government stimulus package in deadlock, President Donald Trump took executive action earlier this month to pass a patchwork of federal aid. Which
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Democratic presidential nominee and former US Vice President Joe Biden introduces his vice presidential running mate, US Senator Kamala Harris, during their first press conference together in Wilmington, Delaware, on August 12, 2020. Olivier Douliery | AFP | Getty Images Though former vice president Joe Biden has proposed raising taxes on the wealthiest households, accountants
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Millions of stimulus checks were sent to families this spring. Unfortunately, many people are still waiting for that money. Now, the IRS has announced two deadlines that could help those who still haven’t received their full payments. The stimulus checks were authorized by Congress in the CARES Act and included up to $1,200 for individuals
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