The financial news that actually matters
The average 401(k) balance has climbed into territory that sounds reassuring. Large recordkeepers now report average balances around $148,000. This figure is boosted by stronger markets, steady payroll contributions, and the compounding power that comes with time. On its face, that number suggests the U.S. retirement system is doing a decent job of helping workers…
Los Angeles renters are finally getting a break. After years of relentless increases, new-lease rents across the LA metro area have fallen back to their lowest point since early 2022, giving tenants more room to negotiate in one of the nation’s most expensive housing markets. The shift does not mean Los Angeles has suddenly become…
The federal tax filing deadline for 2025 returns is set for April 15, 2026. While the IRS has already postponed certain tax deadlines for taxpayers in federally declared disaster areas, some observers have speculated about whether the agency could face pressure to broaden relief if disruptions mount. So far, the IRS has not announced any…
Social Security is not about to disappear. But the program’s main retirement trust fund is still on track to hit a hard legal wall within the next decade. According to the latest annual trustees report, the Old-Age and Survivors Insurance trust fund is projected to be depleted in 2033. If lawmakers do nothing before then,…
Millions of taxpayers could see their refunds delayed this filing season because of a single IRS letter most people have never heard of. The letter is called CP53E, and the IRS sends it when a direct deposit fails and the agency needs updated banking information before releasing the money. In the past, the IRS would…
The typical American worker has just $955 saved for retirement. This is according to a new analysis that cuts through the glossy six figure averages often promoted in the financial industry. The report explicitly exposes a concerning worker retirement savings gap. The figure comes from the National Institute on Retirement Security, which analyzed U.S. Census…
The IRS has now given taxpayers something they did not have just months ago. Taxpayers now have a clear way to claim four headline-grabbing federal tax breaks. The breaks are tied to tips, overtime, car-loan interest, and age. For workers and retirees who spent much of the year hearing broad promises about “no tax” treatment,…
U.S. homebuilders are floating an ambitious idea: a national push to build as many as 1 million lower-cost houses under the name “Trump Homes.” The proposal, first reported by Bloomberg and echoed by Reuters, immediately grabbed attention because it linked two powerful forces in the housing market at once: the country’s deep affordability crunch and…
Parents who once focused mainly on 529 plans and savings accounts are increasingly taking a harder look at the Roth IRA for kids, especially when a child starts earning money early. The appeal is simple enough to explain at the kitchen table: if a child has legitimate earned income, even a few thousand dollars contributed…
Millions of taxpayers count on their federal refund to land quickly. Especially after filing electronically and choosing direct deposit. But the latest IRS oversight data shows that for a sizable group of filers, that expectation is not matching reality. Even after years of modernization efforts, millions of refunds still fell outside the agency’s normal processing…