Despite a Slowed Hiring Pace, the U.S. is Enjoying the Lowest Unemployment Rate Since 1969
The latest job report from the U.S. Labor Department shows that as of September, the unemployment rate in the country was at 3.5%. That is the lowest it has been since December 1969. These numbers come at a time when other factors indicate a slowing economy. The rate of hiring is considerably low compared to that of 2018, and businesses are concerned about a shortage of workers. Keep reading for more details about minority unemployment, industries that are slowing down, and wage growth.
How to Reduce the Tax Bill on Your RMDs
Your IRA will be beneficial in your retirement years. However, certain practices will have you paying tax bills that take a considerable chunk out of your savings. Late withdrawals of your required minimum distributions (RMDs), and failure to pay your estimated quarterly taxes — may result in hefty fines. So, how do you avoid losing your funds to tax bills? Read on to find out about reinvesting, paying your taxes on time, and all the other ways FJY can help you downsize your RMDs.
Schwab Joins the Growing List of Online Brokers Who Are Slashing Trading Commissions
Charles Schwab has been one of the latest firms to join the online brokers’ price war. The company announced that as from October 7, their trade commissions for exchange-traded funds, U.S. stocks, and options — would go from $4.95 to zero. Vanguard Groups, Robinhood, Fidelity, and J.P. Morgan Chase are some of the other online trading platforms that have introduced commission-free ETFs. Find out more about what this shift in the brokerage industry means for investors.
401(k) Funds to Become More Accessible in Cases of Financial Hardship
The IRS and the U.S. Treasury have issued new rules that will make it easier for contributors to withdraw 401(k) funds before attaining retirement age. Currently, a 10% penalty is incurred if you withdraw from your 401(k) before reaching the age of 59½. The new rules expand the circumstances in which you can withdraw a hardship distribution — without paying income tax or getting penalized. Learn more about how the new regulations affect withdrawal plans, and what this could mean for your worst-case scenario planning.
Could Your Weekly Splurges Be Costing You More than You Know?
According to new research conducted by SlickDeals.net, 74% of Americans have a get-me-there household budget in place. However, 79% don’t exactly stick to it. Weekly spending on online shopping is just one of the ways through which people have been exceeding their budget limits by an average of $7,400 annually. Find out if you’ve been practicing what has been identified as the top 10 budget killers.