Congratulations to the lucky winner who had the only ticket that matched all six numbers in Friday's Mega Millions lottery drawing. But there are two other entities who also won big – the federal government and the state of Michigan. That's because,

Stephanie Creary is assistant professor of management at the Wharton School at the University of Pennsylvania, where she is an identity and diversity scholar. She has researched workplace diversity practices at a variety of organizations, including c

A muted Friday for the broader stock market was much more interesting under the microscope. The market received some good news in the form of readings from IHS Markit showing a decade-high level of manufacturing activity and expansion of services act

The S&P 500 closed out 2020 with a total return of more than 18%, which is incredible considering the U.S. (and most of the world) experienced some period of economic shutdown during the past year. Incredibly, the year's top stock picks did even bett

Shares in GameStop (GME, $64.75) briefly soared almost 75% at one point in Friday trading, causing a quick trading halt, after a well-known short seller canceled a planned livestream critique of the video game retailer. But that's just one ingredient

Most of us were all too happy to see an end to 2020, as the pandemic cast a shadow over everything. But from a stock investor’s perspective, the year was spectacular, and mutual funds had ample chances to prove their mettle. Despite swift bear market

Last year put a lot of our financial strategies to the test. Volatility that plagued the markets for the past few years was exacerbated by the COVID-19 pandemic, which is still raging nearly 12 months later. Many people watched as their investments a

The $970 million Mega Millions jackpot has generated a lot of speculation about the best ways to spend that much money. In reality, though, the winner will end up with far less than that after taxes on your lottery winnings are taken out. So, if you

Looking back, it's safe to say that 2020 humbled us all in ways we would not have ever imagined. Never in my life did I think that one day the streets, malls, and restaurants would be packed, then be completely empty the next day, resembling a zombie

Robinhood, the discount broker of choice for legions of young investors, agreed in December to pay $65 million to settle Securities and Exchange Commission charges that it misled investors about revenues from accepting payments from trading firms for

On Dec. 4, I received a text from a college roommate asking if I thought another round of stimulus would pass before Congress adjourned for the year.  He owns six restaurants and bars that are honoring severe occupancy limits and are surviving thanks

How did you become a used bookstore owner in Houston? It all started about 43 years ago, when I lived in New Orleans. I had too many books, and it behooved me to get out from under them. So I sold books at the flea market in the French Quarter for ab

Americans have been facing greater pressure to shoulder the responsibility for their own retirement. The safety net is shrinking, as fewer workers have access to guaranteed pension plans when they retire, funding for Social Security has come under th

Washington got back to work after President Joe Biden's inauguration, and Wall Street continued to grind forward. Biden pushed ahead Thursday with a number of efforts to fight COVID-19, including signing several executive orders that will step up mas

For Americans struggling financially because of the COVID-19 pandemic, President Joe Biden's economic stimulus package would provide welcome relief. Biden recently released details of his "American Rescue Plan," which is a $1.9 trillion package des

Joe Biden was sworn in as the 46th president of the United States on Wednesday in a smaller, sparser inauguration ceremony than in years past, but one that was no less cheered by investors, who drove the blue-chip indices to fresh highs. Biden's mess

At a time when everything travel-related seems to be up in the air except for airplanes, at least fliers have the ability to stay flexible. The major airlines have permanently waived change fees for all but the cheapest flights within the U.S. and to

At the request of President Biden, the Department of Education will extend the pause on federal student loan payments and collections through the end of September 2021. The new president made the request hours after becoming the 46th President of the

Some people haven't received their second-round stimulus payment yet, but that's not stopping Americans from wondering when they'll get a third stimulus check. (Notice that I said "when" – not "if" – because a third round of stimulus checks almost se

A question that commonly comes my way lately is, “How can I earn a higher return on my cash and CDs?” It’s a dilemma many find themselves in with the current market environment of low interest rates and a stock market near record highs. While low int

Former Vice President Joe Biden becomes the 46th President of the United States on Wednesday, Jan. 20, 2021, and he's looking to hit the ground running. The incoming president, like virtually all that have come before him, has an ambitious policy age

With the stock market setting new records in 2020 and interest rates at all-time lows, some people are wondering if it’s time to pull the trigger on that dream second home. For example, one of our clients found the perfect cottage for a second home a

The "recovery rebate" tax credit and stimulus checks are two parts of the same thing. The way the law is written, both the first ($1,200) and second ($600) stimulus checks were simply advance payments of the credit. So, if the combined total of your

Investors are embarking upon a three-day weekend, as neither the stock market nor the bond market will be open for trading on Martin Luther King Jr. Day, which in 2021 falls on Monday, Jan. 18. The stock and bond markets will reopen Tuesday, followin

One day a forward-thinking couple arrived in my office with a plan. They wanted to bequeath the bulk of the money in an IRA to their two children, and they also wanted the children to receive that money tax free. Nice idea, so together we set about c

A week of drowsy trading got no lift from the latest prospect of more government spending. President-Elect Joe Biden on Thursday evening unveiled a $1.9 trillion "American Rescue Plan" that includes a number of provisions, including $1,400 stimulus c

Regardless of why you're chosen, it's quite a shock to learn that the IRS wants to examine your return. Even if you have no reason to think you did anything wrong, you can't escape the anxiety that accompanies an audit notice. For one thing, the retu

The effects of the COVID pandemic made 2020 a tough year for real estate investment trusts (REITs). Even with its generous dividends, the real estate sector suffered a 2% loss last year. Retail and office REITs were hit especially hard as a result of

Tesla (TSLA, $845.00) stock has the potential to reach $950 per share, says Wedbush analyst Daniel Ives. But he still doesn’t think you should buy it. Tesla shares jumped at Friday’s opening but soon cooled off, perhaps influenced by Ives slapping a

The sooner you file your tax return, the sooner you'll receive any refund due. But this year you'll have to wait a little longer before you can submit your return. The IRS just announced that it won't start accepting 2020 tax returns until February 1