High-income earners can’t contribute directly to a Roth IRA. But thanks to a tax loophole, they can still make contributions indirectly. If you qualify to take advantage of this tax loophole, you should. The government clearly sanctioned the practice of contributing to a Roth in a roundabout way. If you take advantage and maximize your

In a Sept. 8, 2022 report titled, “Climate and Energy Implications of Crypto-Assets in the United States,” the White House Office of Science and Technology Policy (OSTP) called for more research on the energy impact of crypto mining, the process that generates cryptocurrency. The report is a 46-page response to President Biden’s March 9, 2022,

Cryptocurrency is a unique financial instrument that enables anyone with an internet connection to participate in a distributed economy. That includes opportunities to earn passive income. There are unique risks associated with investing and earning with cryptocurrency, even though it may seem like a bank account or social lending platform. Here’s a closer look at

As your child moves toward adulthood, you face several milestone decisions that involve, in part, a desire to help your child become more independent and responsible. But one milestone for your child that you may not anticipate—even though it will be part of their growing-up experience—is filing that first income tax return. Key Takeaways Children generally

If you cannot keep up with your mortgage payments, the prospect of foreclosure—and with it losing your home—can be daunting. Still, foreclosure is a rigorous legal process, and you have certain rights based on state law along with the mortgage documents you signed. Knowing your rights can help you navigate the foreclosure process as smoothly

The Federal Housing Administration (FHA) is the federal agency that insures many reverse mortgages. Here is how FHA reverse mortgage loans work. Key Takeaways The Federal Housing Administration (FHA) insures the most common type of reverse mortgage, known as a home equity conversion mortgage (HECM). HECMs are offered only through FHA-approved lenders. Borrowers who meet

Having a reverse mortgage can sound like a dream come true. Instead of making monthly payments to your mortgage lender, your mortgage lender sends you money, which you can use for whatever expenses you wish. To repay the mortgage, your heirs can simply sell the home after your death.  However, there are circumstances in which

With the difficulties new college graduates face repaying student loan debt–now a cumulative $1.7 trillion in the United States–many are questioning whether the cost of higher education is worth the potential reward of higher income. After all, two of the richest men in America, Mark Zuckerberg and Bill Gates, did not hold college degrees. While

The crypto community is celebrating the coming of Ethereum 2.0, however, there are also concerns for miners. Since Ethereum has switched to a proof-of-stake model, mining Ether will no longer be necessary. Due to this, mining machinery will become obsolete, leaving miners with fewer options.  Key Takeaways Ethereum merge is the transition from proof-of-work consensus

Consumer complaints about credit reporting more than doubled from 2018 to 2021, according to the Consumer Financial Protection Bureau’s (CFPB) complaint database. Credit reporting is, far and away, the most common topic of complaints received by the federal agency. Key Takeaways Consumer complaints about credit reporting issues, particularly inaccurate information, doubled from 2018 to 2021.