ArcaMax

The stock market seems to be taking uncertainty in stride, as I write this column. Neither economic concerns over the impact of tariffs nor the political concerns revolving around the rule of law have so far dented enthusiasm for American stocks.

It’s been a long time since we’ve seen a bear market, and this column is not in the business of...Read more

It’s income tax time again, and this year it’s time to make a big change in how you file if you’re one of the small minority (less than 10%) who still file a paper return and then trek down to your local post office to send that return by registered mail — return receipt requested.

It’s time to file electronically. And the IRS has ...Read more

Let’s talk about how tariffs work to impact the economy — without any political considerations — just considering the potential economic consequences of tariffs, and how they impact the trade relationships between countries.

In early February, the headlines revolved around potential tariffs that the United States would charge on goods ...Read more

Housing affordability is going to be a huge topic in both personal finance and politics in the year ahead. It’s not your imagination that housing — whether you own or rent — is taking a bigger bite out of your income. The question is what you — and the government — can or should do about it.

The Wall Street Journal recently examined ...Read more

Would you send the government a big check this year — in return for a potentially far larger future tax break?

That’s the simple and essential premise of Roth conversions — paying taxes now on regular IRAs, 401(k)s and other tax-deferred retirement accounts (except those from your current job) in exchange for tax-free withdrawals of those...Read more

Quick, think about who would know where everything is if you were in an accident or had a stroke that left you unable to communicate. By “everything” I mean your healthcare power of attorney, your health insurance documents and even the password to your cellphone so they can notify friends and family.

While you may have all that information...Read more

Americans enter 2025 with record amounts of credit card debt — and with an average credit card interest rate of 22.3%! That kind of interest can bury you, destroying all your efforts to get ahead, undermining the hours you put in at work, and painfully demonstrating that the system is destroying your hope.

STOP! There is a way out of the debt...Read more

Forget resolutions — just do it! Get your financial life in order by following these easy steps as you move into the new year.

This is the moment when you get to start over with no excuses or recriminations. If you’re still using paper, set up a filing system — a few manila folders in which you will regularly stash unpaid bills, paid ...Read more

The Social Security Fairness Act was passed in the waning moments of Congress, just before the budget bill was approved. It essentially repeals the WEP and GPO – two acronyms familiar to the nearly 3 American retirees who found their earned Social Security benefits reduced by the “Windfall Elimination Provision” and the “Government ...Read more

Last year, families that filed the Free Application for Federal Student Aid — or FAFSA — for college found themselves trapped in a computer nightmare. In an attempt to make the process simpler, the government botched the rollout, leaving many families unable to file FAFSA until January — three months late. And that delayed college ...Read more

Every year I devote a column to meaningful gifts for children of all ages — gifts that might grow in value or spark an interest in financial matters, or just be a relief from the online games that take up so much of their time.

In a recent column, which can be found at my website, TerrySavage.com, I detailed the importance of opening a 529 ...Read more

Meet IRMAA. This is not a senior’s dating site, but every senior on Medicare should be intimately familiar with IRMAA — the initials that stand for "income-related monthly adjustment amount."

It’s the amount by which your Medicare Part B and Part D premiums increase each year, based on your recent modified adjusted gross income (MAGI). ...Read more

Giving to charity is all about money — and if a tax benefit comes along, the gift is much sweeter. But since the tax reforms of 2017 increased the standard deduction, 9 out of 10 Americans don’t itemize their tax returns — and thus don’t get a deduction for their contributions.

Still Giving USA notes that in 2023, Americans gave $557 ...Read more