Financial Advisors

domoyega | E+ | Getty ImagesAs credit card debt swells and interest rates spike, many spenders are fearful about high balances.Nearly 1 in 5 Americans are afraid to check their credit card statements, according to a recent report from travel website Upgraded Points, which surveyed 3,500 people in April 2022. While Americans trimmed credit card debt in 2020, steep balances have returned amid soaring costs for staples like gasoline, groceries and housing.Indeed, credit card balances jumped $71 billion year over year,…

Marko Geber | DigitalVision | Getty ImagesAfter battling downturns in the stock and bond markets, more financial advisors looking to further diversify their clients are turning to alternative investments, according to a recent survey from Cerulli Associates.Falling outside of traditional asset classes, alternative investments are typically added to portfolios for more diversification, income and the possibility of higher returns. The report, surveying 100 advisors during the first half of 2022, found average alternative…

With increased fears of a possible recession, investors seeking steady income may turn to stocks paying quarterly dividends, which are part of company profits sent back to investors.Historically, dividends have significantly contributed to an asset's total return, sometimes providing a boost during economic downturns.From 1973 to 2021, companies paying dividends earned a 9.6% total annual return, on average, beating 8.2% from the S&P 500 Index, and eclipsing the 4.79% yield from non-dividend payers, according to a…

seksan Mongkhonkhamsao | Moment | Getty Images1. Review tax withholdingsWhen starting a new job, you fill out Form W-4, covering how much your employer withholds from your paychecks for federal taxes. But you need to revisit those withholdings, especially for major life changes such as marriage, having children or starting a side business.Top reasons to adjust your withholding:1. Tax law changes2. Lifestyle changes like marriage, divorce or children3. New jobs, side gigs or unemployment4. Tax deductions and credits…

The demand for Series I bonds, an inflation-protected and nearly risk-free asset, has skyrocketed as investors seek refuge from soaring prices and stock market volatility.While annual inflation rose by 8.6% in May — the highest rate in more than four decades, according to the U.S. Department of Labor — I bonds are currently paying a 9.62% annual rate through October.That's especially attractive after a rough six months for the S&P 500, which plummeted by more than 20% since January, capping its worst six-month start…

designer491 | iStock | Getty ImagesWith the threat of a recession looming, more financial experts are sharing how to prepare — including how much cash it may be smart to set aside.  The end of June marked a turbulent six months for the S&P 500 Index, which dropped by more than 20% since January, capping its worst six-month start to a year since 1970.The future may be unclear, but stock market volatility, soaring inflation, geopolitical conflict and supply chain shortages have weakened Americans' confidence in the…

Historic row houses in Columbia Heights neighborhood of Washington.amedved | iStock | Getty ImagesMillion-dollar homes aren't common in the U.S., but you're more likely to find these properties along the coasts.That's according to a LendingTree study that ranked the country's 50 biggest metropolitan areas by the share of owner-occupied properties worth $1 million or more.The average share of million-dollar owner-occupied homes in the 50 biggest metros is 4.71%. But in San Jose, California, 52.89% are worth $1 million or…

Phonlamaiphoto | Istock | Getty ImagesMonths of stock market volatility, surging inflation and rising interest rates have left many investors wondering if a recession is coming. The stock market tumbled again on Thursday, with the S&P 500 capping its worst six-month start to a year since 1970. In all, it's down more than 20% year to date. The Dow Jones Industrial Average and Nasdaq Composite are also down significantly since the beginning of 2022, dropping more than 15% and nearly 30%, respectively.Meanwhile, consumer…

Eakgrunge | Istock | Getty ImagesThere's been record demand for federal Series I savings bonds, an inflation-protected and nearly risk-free asset, offering an eye-popping 9.62% annual return through October.However, it's not easy to buy I bonds through TreasuryDirect, a 20-year-old platform run by the U.S. Department of the Treasury, financial advisors say. "It's like going to the DMV online," said Matt Stephens, a certified financial planner with AdvicePoint in Wilmington, North Carolina, explaining how the process of…

Guy Benhamou sends a picture of gas prices to friends while pumping gas at an Exxon Mobil gas station on June 9, 2022 in Houston.Brandon Bell | Getty ImagesIf you're self-employed or own a small business, you may soon be eligible for a little relief from soaring gas prices.Starting on July 1, the standard mileage rate — used to deduct eligible business trips in a vehicle on tax returns — increases by 4 cents to 62.5 cents per mile, according to the IRS. The new rate applies to trips during the second half of 2022.The rate…