Monthly retail and food service sales fell 3% from January, dipping to $561.7 billion, according to seasonally adjusted data released by the U.S. Census Bureau Tuesday. It was the largest one-month drop since April of last year and a steeper decline than economists had expected, though that’s partly because figures for an already strong January were revised even higher. Econoday said the consensus was for a 0.5% decline, and Moody’s Analytics forecast a decline of 1....

All living trusts are either revocable or irrevocable. The primary difference between the two is whether you, as the grantor, have the ability to change the trust over time. What’s the Difference Between a Revocable Trust and an Irrevocable Trust? An irrevocable trust can’t be changed by the grantor after the agreement has been signed and the trust has been formed and funded. You can’t take property back that you’ve placed into an irrevocable trust....

Are you wondering whether a Roth IRA or taxable brokerage account is right for you? Learn more of the differences between the two accounts, how to choose one or the other, and how to use both accounts to get the best of both worlds. What’s the Difference Between a Roth IRA and a Brokerage Account? When you contribute to a Roth IRA, you contribute with after-tax dollars. However, once the funds are in the account, they grow tax-free over time....

Let’s explore the differences between these two accounts—plus, if you’re eligible, how you may be able to use both to save for retirement. What’s the Difference Between a Roth TSP and a Roth IRA? A TSP is a retirement savings plan sponsored by the federal government. It’s only available to federal employees and members of the military. TSPs are similar to 401(k) plans sponsored by private companies and employees are allowed to make two kinds of contributions:...

But a number of credit reports contain mistakes, some significant enough to affect your ability to get approved for new credit cards and loans. Checking your credit report periodically is important for making sure the information being reported about you is accurate and complete. Otherwise, you may not find out that your credit report has errors until you’re unexpectedly denied a credit card or loan. You have the right to view your credit reports from each of the three major credit bureaus: Equifax, Experian, and TransUnion....

But what if you didn’t leave on good terms or neglected to ask for a letter? Or, what if you are a recent high school or college grad without work experience? In these cases, you will need to write a reference request letter to someone who can vouch for your potential as an employee. Who to Use as a Reference If you have work experience, professional references can be provided from former supervisors who are familiar with your work history, strengths, and hard and soft skills....

Let’s look at self-assessments, how to complete one, and the benefits they can provide for you. How To Complete a Self-Assessment Varying types of self-assessments provide different information. If you’re a student trying to decide what to study, a self-assessment can be an excellent way to give yourself some direction. A job candidate or employee may take a self-assessment to determine a good workplace fit. Student Self-Assessments For students, interest assessments include questions about what they like to do, such as writing, working with their hands, or advising people....

But goal setting doesn’t have to be an all or nothing, eight-hour marathon project that leaves you feeling overwhelmed and underprepared. While many agree with setting specific, measurable, attainable, relevant, and time-based (SMART) goals, there are times you may want to get started with something easier. These easier tasks will help you to get past inaction and on to progress. You can get started with goal setting by following this simple process of working backward from a big-picture end goal to a weekly or even daily task list that gets you closer to your end goal, little by little....

Understanding SG&A SG&A costs pertain to the overall operation of the company. Selling costs can include advertising, sales commissions, and promotional costs. General expenses would be things such as rent, utilities, office supplies, and insurance. Administrative costs include salaries for staff and executives, as well as fees or salaries for services such as IT, accounting, or attorneys. In contrast, the cost of goods sold (COGS) is the actual cost incurred to produce and deliver a product....

If you count yourself among those who need to prioritize capital preservation, short-term bond funds may be right for you. Keep in mind, however, that these funds are unlikely to offer much in the way of yield. Definition of a Short-Term Bond Fund A short-term bond fund is a fund that invests in bonds with maturities of less than five years. Any entity can issue short-term debt, including governments, corporations, and companies rated below investment grade....

How Does a Short-Term Car Lease Work? If you need a set of wheels for many years to come, you might buy a car. If you need one for a few days, you might head to a car-rental company. But if you anticipate requiring your own set of wheels for a few years, you might lease a vehicle. Most traditional car leases last for 24 to 60 months. But for some individuals, the traditional lease length is longer than they want to commit to a particular make and model of a vehicle....

Sincerely, Fixed-Income Fan Dear Fixed-Income, This is such a great question, because with the risk of a recession looming, a lot of people are bolstering their savings. But therein lies the problem. At a time when inflation is making so many fixed-income investments more attractive, do you want to tie up your funds when you might need them to be “liquid” in case you lose your job? The answer is, do both....

Before you quit a job, you should be very sure that you want to change positions. Once you’ve turned in your resignation, you probably won’t be able to change your mind and get your job back. Review the most common reasons people quit a job, how to decide whether to stay or leave, and the best way to move on when you have decided to resign. Why Do People Quit Their Jobs?...

Human Resources Policies for Internal Job Applications Every organization has different policies about how they handle employees who want to transfer to another job. In many companies, for example, the company policy is that an employee must be in their current position for six months or have the approval of their vice president to change jobs internally sooner. The policy may also state that the employee is responsible for notifying their current manager if applying for another job in the company....

These accounts grow tax-free and can receive contributions from parents, family members, and friends up to a certain dollar amount each year. All withdrawals used for qualified educational expenses are also exempt from federal income tax, and many states have begun waiving their taxes, as well. Student loan debt in the United States soared past $1.749 trillion as of March 2022. South Carolina residents who are concerned about paying for college tuition in the decades to come should consider paying into Future Scholar, the state-sponsored South Carolina 529 college savings plan....

It’s important to understand what death taxes are or whether you’re subject to them. It depends to some extent on where you live and the value of how much you own when you die. What Is an Estate Tax? As the name implies, the estate tax is based on the value of your estate. It’s paid from the assets in your estate, after accounting for any deductions or credits. Your beneficiaries and heirs receive what’s left....

PeopleImages/Getty Images Tax preparer Jackson Hewitt estimates there have been problems with more than 13 million bank accounts. People who see “Payment Status #2 – Not Available” when they use the online “Get My Payment” tool to check the status of their payments will not receive a stimulus check and instead need to claim a credit on their 2020 tax return in order to get their money, the IRS posted on its website Tuesday....

Ownership The main difference between a stock insurer and a mutual insurer is the form of ownership. A stock insurance company is owned by its shareholders. It may be privately held or publicly traded and a stock insurer distributes profits to shareholders in the form of dividends. A mutual insurance company is owned by its policyholders. Surplus may be distributed to policyholders in the form of dividends or retained by the insurer in exchange for reductions in future premiums....

From 1950 through 2019, the Standard & Poor’s 500 index has delivered higher returns over the last five trading days of the year and the first two days of the new year 77.9% of the time, according to LPL Research. In fact, these seven days are up an average of 1.33% over the period. It’s what investors call the Santa Claus rally, a term that was coined decades ago by Yale Hirsch in the Stock Trader’s Almanac....

About 9.8 million of the 42.9 million borrowers in the federal student loan portfolio will be affected by the decision of two student loan servicers—Pennsylvania Higher Education Assistance Agency (also known as FedLoan) and New Hampshire Higher Education Assistance Foundation Network (operating as Granite State Management and Resources)—not to continue after their contracts expire in December. FedLoan is the sole servicer of the Public Service Loan Forgiveness program and, with around 8....