Ellen Kennedy

1 week ago | kiplinger.com | Ellen Kennedy

When Donald Trump was campaigning for president, he wasn’t shy about sharing his intent to impose strict tariff policies on trade partners. In early April, he made good on that promise, instituting a 10% universal tariff as well as reciprocal tariffs on more than 60 countries. The stock market responded quickly to Trump's tariffs, with major indexes plunging and see-sawing over multiple days as the crisis worsened.

2 months ago | kiplinger.com | Ellen Kennedy

Elon Must isn't just the world's richest person. He's also a man who may now have access to every single taxpayer's personal financial data. On Jan. 31, Treasury Secretary Scott Bessent granted members of the Department of Government Efficiency (DOGE), including Musk, access to the U.S. Treasury’s federal payment system. This system disburses trillions of dollars each year for programs that include Social Security and Medicare. It’s unclear what happens next.

Jan 15, 2025 | kiplinger.com | Donna Fuscaldo |Ellen Kennedy

Talk of raising the Social Security retirement age is trending, given the Republican election sweep and the program's looming insolvency. That would be bad news for many U.S. workers sticking it out to 67. That’s when you can retire and start collecting your full Social Security benefits. Sure, you can claim at 62, but your payments are reduced. But what if the full retirement age (FRA) were raised to 69, as some politicians and policymakers call for?

Dec 5, 2024 | kiplinger.com | Brandon Renfro |Ellen Kennedy

If you are trying to decide between an IRA vs. 401(k), count yourself lucky. Not everyone's employer offers 401(k)s, and many working people feel too cash-strapped to contribute to a retirement account. And that's a shame — because these popular accounts act as powerful, tax-advantaged ways to save toward retirement. Given common concerns about the Social Security trust fund, which is projected to run out of money as early as 2033, IRAs and 401(k)s are even more crucial for a secure retirement.

Nov 1, 2024 | kiplinger.com | Kathryn Pomroy |Ellen Kennedy

DisclaimerWhat's in your wallet? It could hold one of the worst credit cards if you haven't been paying attention. The terms of rewards credit cards change over time; that card that seemed great a few years ago could now be a dog. While nabbing a card with a big bonus for new customers is tempting, you must also be sure it's the right card for the long haul. And with interest rates soaring and annual fees trending up over the past few years, you should take a close look at your cards.