The CARES Act, the legislation signed into law by President Trump in March, generated many questions from readers. Below we answer some of them. Q: You wrote in a recent article that "the law also doubles the amount 401(k) participants can take in loans from an account for the next six months to the lower of $100,000 or 100% of the account balance. IRAs don’t permit loans." It seems as if this part of Bill S.3548, speaks to individual retirement account (IRA) loans: (C) TREATMENT OF...

They lost everything — and didn't have insurance. Time The odds of being unable to work because of sickness or accidental injury are greater than the odds of a premature death. That's unlikely to be something millennials ever think about when planning for retirement. But they should. And that means they should consider disability income insurance, as boring as it sounds. The question any working person needs to answer, says Kevin Lynch, a faculty instructor at The American College of...

A new study shows millennials are delaying life events due to being in debt. Elizabeth Keatinge has more. Buzz60 Debt is high, and savings are low. Indeed, total household debt rose to an all-time high of $13.15 trillion at year-end 2017, according to the Federal Reserve Bank of New York's Center for Microeconomic Data. And, as of year-end 2017, some 4.7% of outstanding debt was in some stage of delinquency. Of the $619 billion of debt that is delinquent, the Federal Reserve Bank of New York...

If you’re sharing you're credit card, your likely to wind up with a losing hand. USA TODAY Question: I am 63, single, have no dependents and am upside down on my house, which is a money pit. I have a $2,500 car loan, a $168,000 mortgage and $50,000 in credit card debt. My monthly retirement income is $4,100. I'm thinking about filing for bankruptcy, and went to a bankruptcy attorney who advised that strategy. I was not raised to overspend, but I've had issues and yes, I have at times lived...

Ken Fisher, founder and executive chairman of Fisher Investments, talks personal investments, advice for millennials and what’s the deal about cryptocurrencies. USA TODAY Sorry Americans: You just don’t have what it takes to make financial decisions. So says a survey released recently by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business. On average, U.S. adults answered only half of 28 questions correctly in a...