Financial planning

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…

The Supreme Court last week limited the Environmental Protection Agency's ability to regulate greenhouse gas emissions to fight climate change — and that may leave eco-conscious investors wondering what they can do.Certain investment managers offer funds meant to promote values such as environmental preservation and social good, and those funds have become more popular in recent years.Trying to pick a so-called environmental, social and governance fund — especially one that aligns well with your interests — can seem…

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…

When the stock market dips, a strategy known as tax-loss harvesting can be a silver lining. But it doesn't make sense for all portfolios, financial experts say.  Here's how tax-loss harvesting works: You can sell declining assets from your brokerage account and use the losses to offset other profits. Once losses exceed gains, you can subtract up to $3,000 per year from regular income. Tax-loss harvesting may now be more attractive with the S&P 500 Index down by nearly 14% since January's all-time high. However, there…

Tetra Images - Erik Isakson | Brand X Pictures | Getty ImagesInvestment funds that promote values like the environment and social good have become more popular.But trying to pick a so-called ESG fund — especially one that aligns well with your interests — may seem about as easy as drying a towel in a rainstorm."I think it can be really hard to know where to start," said Fabian Willskytt, associate director of public markets at Align Impact, a financial advice firm that specializes in values-based investing.Luckily, there…

Stacy FrancisSource: Stacy FrancisStacy Francis never planned to become a financial advisor, especially one for women going through divorce. But a candid talk with her grandmother shifted her career trajectory. Her grandmother, Myra, was a victim of spousal abuse and, before passing, she confessed to staying in her marriage because she felt "financially trapped.""That's what drove me to go into this field," said Francis, who founded Savvy Ladies, a non-profit providing free financial advice and education for women, along…