by Mallika Mitra Interest rates are still at record lows, and it looks like they could stay that way for years thanks to Fed Chair Jerome Powell’s recent indication that the central bank won’t increase rates to protect against inflation. The biggest challenge retirees are now facing is how to turn their nest egg into an income solution — and strategies they have been relying on might not work as well in today’s low-rate environment, experts say.

by Jason Steele 2020 has been a year of challenges for all of us. But the upheaval might also bring with it great opportunity. Before the COVID-19 pandemic, a report by the Federal Reserve Bank found that 55% of Americans with credit cards had debt. But for those who are lucky enough to still have jobs, the crisis has also turned America into a nation of savers: Most people are spending far less of their time and money on discretionary purchases such as vacations, entertainment and dining out.

by Ingrid Case Shanai Matteson, an artist and educator in Minneapolis, has spent the past five months making difficult choices. She’s nowhere near finished. Matteson shares a business—and two children—with her ex-husband. In the middle of March, every contract they had disappeared. Around the same time, Minneapolis public schools called an early spring break as the pandemic spread, then moved children to online classrooms when school resumed.

by Charlotte West Annie Baker was halfway through her junior year at Green Mountain College when she found out it would be her last semester. Away at a partner college for the semester, she learned her liberal arts college in Vermont would be closing four months later via texts from her friends still on campus. “We were seven hours away without our community when we found out,” she said.

by Martha White It’s tough for savers out there. But, if you're willing to jump through a few hoops, you can still earn a reasonable interest rate on your rainy-day fund. The Federal Reserve has pledged to support the economy through the COVID-19 pandemic by driving down — and holding down — short-term rates to near zero for the foreseeable future.

by Mallika Mitra What goes up must come down, right? Not always, when it comes to the stock market. Despite high unemployment and uncertainty around when we’ll see a coronavirus vaccine, the stock market continues to defy gravity. Headlines about the S&P 500 and Nasdaq hitting record highs and the Dow jumping have been pretty common over the last few weeks. “All-time high” sounds dramatic, and record-breaking numbers might make you feel like you need to take action.

by Ivan Castano Stock splits — when a company boosts its number of shares, lowering the per-share price of its stock — have gotten rarer in recent years. But since Apple and Tesla announced they both plan splits for today, experts say more companies may follow.

by Mark Armao You might think you’ll leave your borrowing days behind as you head into retirement. Older adults who have paid off their mortgage and don’t plan on applying for any car loans or credit cards, for instance, may assume they can let their credit languish. But most financial pros agree that maintaining solid credit is crucial for adults of all ages.

by Charlotte West John Daley had already signed the leases for off-campus apartments for his two children attending Michigan State University when the institution changed its mind. On Aug. 18, just a few weeks before classes will begin, the university switched to remote instruction for fall semester and encouraged all undergraduate students to stay home. “We’re told up until two days (before the switch) that they were opening and students can plan on coming to campus,” he said.

by Julia Glum We may not be able to aimlessly wander through the mall with a hot pretzel and a credit card, but the coronavirus crisis is the perfect opportunity for retail therapy. Between being cooped up inside and the depression of doing nothing for weeks on end, people are realizing that sometimes it just feels good to shop. Even Money staffers have found themselves caving to the allure of the impulse buy recently.