The Dangers of Living Large
While it's great to have a big salary. If you live too large, that lifestyle becomes a liability that can quickly cause your financial life to unravel.
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While it's great to have a big salary. If you live too large, that lifestyle becomes a liability that can quickly cause your financial life to unravel.
With nearly $2 million in savings and a paid-off house, Dan and Barbara Hoffa thought they were secure. Then Dan lost his job, and the crash clobbered their portfolio.
Dan Hoffa's 88-year-old father, Earl, who was a maintenance manager for a property company, suffered increasingly severe health problems after a car accident five years ago left him in a wheelchair. He and his wife, Mary, who worked as a part-time bookkeeper, live in Seattle, about a three-hour dri...
Dan and Barbara Hoffa felt a lot wealthier in 2007 than they do today. The market's plunge vaporized half of the Hoffas' portfolio, reducing their total liquid assets to about $900,000, a little more than half of which is arrayed in 401(k)s and a Roth IRA.
Before the recession stormed in, Dan and Barbara Hoffa could see nothing but smooth sailing ahead. But now Dan is unemployed, Barbara's income has been slashed, and their comfortable $2 million nest egg has been crushed.
Today the President outlined, in general terms, the principles of the financial reform package that he would like to see. Good thing: I was worried that the health care debate and the stock market recovery had made him forget all about it. My colleague Jill Schlesinger is even more concerned th...
Most Americans agree on the broad outlines of health care reform. No one, Republican or Democrat, believes that the current health care system give great value for the money. No one, Republican or Democrat, believes that it's a great idea for health care to be tied to employment. No one, Republica...
This weekend, the President announced a handful of new initiatives designed to make it easier for American workers to save more for retirement. The initiatives supposedly make use of research from behavioral economics, the arm of the dismal science that incorporates the way people really act into ...
If you work for the government or a public employer, you may feel as though one of the best things about your job is your guaranteed pension. But that promised pension may not be as secure as you think.
So the headline number on unemployment is 9.7%. That alone might be enough to send people into the last weekend of summer with the sense that the economy has a long winter ahead of it. But ugly as that 0.3 percentage point jump in the closely watched number is, a look behind it shows the reality is ...
Everybody makes mistakes with their 401(k). You already know that. Everyone knows that. Fidelity recently made the persistent errors of 401(k) savers the theme of their quarterly report on the 17,500 plans they administer. And on his last visit to the MoneyWatch office, T. Rowe Price PR director E...
The Kazanjians' second home in Florida has become a costly drain on their resources.
With no college savings plan in place for their younger daughters, John and Michelle Kazanjian need to start investigating scholarships and community colleges.
It's easy to lose sight of your long-term finances when you're raising five daughters and running two businesses. But John and Michelle Kazanjian need to get serious — before it's too late.
If you die without a will, the state decides who gets what. So you probably want to get your wishes down in writing. MoneyWatch's Jill Schlesinger explains the three things you need to include.
Lindsey Vonn, who came out of retirement to compete in the 2026 Milano Cortina Winter Games, was airlifted off the mountain.
Savannah Guthrie released a new video on Saturday, saying her family is willing to pay for the safe return of their mother.
Democrat Chasity Verret Martinez defeated her Republican opponent in a district President Trump won by 13 points in 2024.
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Breezy Johnson took the lead early on after flying down the mountain in 1:36.10. It is her first-ever Olympic medal.
The footage is included in a video that promotes false claims that the 2020 presidential election was rigged against Mr. Trump.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Will Lewis, CEO and publisher of the Washington Post, has resigned just three days after the storied newspaper laid off about one-third of its staff.
As the Seahawks prepare to face the Patriots in the 2026 Super Bowl, here's what to know about Seattle's past appearances, wins and losses.
The New England Patriots are back in the Super Bowl once again in 2026, hoping to add another ring to their list of wins. Here's a look back at their appearances, losses, how many they've won, and more.
Not sure where to watch the 2026 Super Bowl live? There are multiple ways to watch the game for free today. Here's how.
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Connor Hilton, 17, said that after taking Accutane, a prescribed acne medication, he began to have suicidal and homicidal thoughts – thoughts that, his defense argued, led him to shoot two friends in the head at his Friendswood, Texas, home. Prosecutors weren't convinced.
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Will Lewis, CEO and publisher of the Washington Post, has resigned just three days after the storied newspaper laid off about one-third of its staff.
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Though the commerce secretary has called his interactions with Epstein as "limited," the two were in business together four years after Epstein's 2008 guilty plea.
Resurgent technology stocks drove the rebound after a volatile week, while bitcoin also recouped losses.
Democrat Chasity Verret Martinez defeated her Republican opponent in a district President Trump won by 13 points in 2024.
Former House Speaker Nancy Pelosi plans to endorse Jack Schlossberg, John F. Kennedy's grandson, a source familiar confirmed to CBS News.
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Skier Chris Lillis said he was "heartbroken about what's happened in the United States," while skater Amber Glenn said she "will not just be quiet."
If the June deadline is not met, the Trump administration will likely put pressure on both sides to meet it, Zelenskyy told reporters.
Becca Valle, then 37, enrolled in a cutting-edge clinical trial after surgery removed an aggressive tumor from her brain.
More than three dozen cases of death cap mushroom poisonings have been reported in California since November, health officials said.
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
The Trump administration launched its new TrumpRx direct-to-consumer prescription drug listing site late Thursday, part of a push to offer medication at steep discounts.
The New Mexico Department of Health said officials believe the baby contracted listeria after their mother drank raw milk during pregnancy.
Breezy Johnson took the lead early on after flying down the mountain in 1:36.10. It is her first-ever Olympic medal.
Lindsey Vonn, who came out of retirement to compete in the 2026 Milano Cortina Winter Games, was airlifted off the mountain.
The U.S. ended Saturday in first place with 44 points. Japan was five points back going into the men's, women's and pairs free skates to decide the medals Sunday.
The U.S. women's hockey team eased to a 5-0 win over Finland on Saturday afternoon.
Francesca Lollobrigida set a new Olympic record of 3 minutes, 54.28 seconds, shaving more than two-and-a-half seconds off the mark set by Dutch legend Irene Schouten four years earlier in Beijing.
Reactions poured in when Bad Bunny was named Super Bowl halftime headliner, with some praising and others criticizing the choice.
Charlie Puth has called the national anthem "one of the most beautiful pieces of music." But he's also described it as "the hardest to sing."
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny is set to take the stage at halftime for the 2026 Super Bowl. Here's who else is performing at Super Bowl 60.
Lead singer and frontman Dee Snider said he suffers from degenerative arthritis and has had several surgeries over the years.
The FAA says it is collaborating with the FBI to detect, track and assess unauthorized drone activity at the Super Bowl.
Gamers across the world can now recreate drone strikes in Ukraine from the comfort of their own home, with this newly released game.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
CBS News business analyst Jill Schlesinger talks about how companies are using artificial intelligence, the discussion around the technology and how it's impacting the workforce.
Executives from Waymo and Tesla defended their self-driving vehicle technology in testimony before the Senate Commerce Committee on Wednesday. CBS News' Kris Van Cleave reports and Ian Krietzberg, an AI correspondent at the digital media company Puck, has more.
After decades monitoring polar bears in Norway's far north, researchers say the animals have proven incredibly adaptable, but there are no guarantees for the future.
Dark matter doesn't absorb or give off light so scientists can't study it directly. But they can observe how its gravity warps and bends the star stuff around it.
"CBS Saturday Morning" learns more about Veronika, the clever cow who figured out multiple ways to scratch herself with a broom. It was the first time a cow was seen using a tool.
"Sunday Morning" looks back at historical events on this date.
The Dinosaur National Monument, which is located on the border between Colorado and Utah, was last excavated in 1924.
Savannah Guthrie and her siblings posted a third video on Saturday, pleading for their mother's return after she went missing last week. Jonathan Vigliotti reports.
Connor Hilton, 17, said that after taking Accutane, a prescribed acne medication, he began to have suicidal and homicidal thoughts – thoughts that, his defense argued, led him to shoot two friends in the head at his Friendswood, Texas, home. Prosecutors weren't convinced.
Authorities said Friday they were inspecting an apparent new message relating to the disappearance of "Today" host Savannah Guthrie's mom, Nancy, after the family reported her missing from her home on Sunday.
Luigi Mangione had an outburst after a hearing on Friday in which the judge announced that his New York State trial will begin on June 8. CBS News legal reporter Katrina Kaufman is following the case.
Local and federal authorities said "investigators are actively inspecting the information provided in the message for its authenticity" regarding the disappearance of Nancy Guthrie.
NASA's first crewed moon mission in more than 50 years has been delayed until March at the earliest. During a routine dress rehearsal of the launch, persistent liquid hydrogen leaks were discovered in the Artemis II rocket. CBS News space consultant Bill Harwood breaks it down.
NASA plans to test the planned leak repair with a second dress rehearsal fueling test later this month.
NASA delayed the Artemis II moon rocket launch after a hydrogen leak was found during a wet dress rehearsal, the agency announced Tuesday. CBS News senior space consultant Bill Harwood has the latest.
A NASA mission is underway to map the heliosphere, which is a huge protective bubble around the solar system that was created by the sun.
NASA says it can't try until March at the earliest to send a crewed spacecraft on a flight around the moon and back, due to hydrogen leaks during testing of the Artemis II rocket.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Martha Teichner has a front row seat to the 150th Annual Westminster Kennel Club Dog Show, where dogs compete to be the best in show.
With Super Bowl LX fast approaching, Jim Axelrod breaks down what makes the quarterback position one of the toughest in sports. He speaks with Seth Wickersham, author of "American Kings: A Biography of the Quarterback," to understand what makes an elite subset of quarterbacks the best of the best.
Savannah Guthrie and her siblings posted a third video on Saturday, pleading for their mother's return after she went missing last week. Jonathan Vigliotti reports.
"Sunday Morning" looks back at historical events on this date.
With Valentine's Day around the corner, Susan Spencer asked: Is a kiss just a kiss? An evolutionary biologist says kissing is common in the animal kingdom and may date back 21 million years. A certified sex therapist explains why we kiss — and why some smooches linger in our memories for decades. Finally, a panel of editors at InStyle Magazine weigh in on the most iconic kisses in pop culture.