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By Lauren Young, Digital Special Projects Editor

My son Leo just finished his first year of college, which means I’m one-quarter of the way through tuition payments!

It’s a small, private liberal arts school, and the price tag is a hefty one. (Luckily I’ve been saving since he was born with a 529 College Savings Plan.) 

With a tuition hike coming next year, I am following a spirited discussion on the parent Facebook group about whether the school is “worth it.” 

It’s a topic that will be debated as long as there is tuition. But when I went to move my son out of his dorm this week, he said: “I had the best year.” 

A priceless statement.

College is what you make of it. I attended Penn State, worked on the college newspaper all four years and got a terrific education at a rock-bottom price compared to my siblings who all attended private universities. It was worth it for me.

But the question of how to value a college degree is BIG one. If you haven’t read it, check out Ron Lieber’s book, The Price You Pay for College.

 The Internal Revenue Service (IRS) building is seen in Washington. REUTERS/Erin Scott

For most Americans, April 18 was a day to get those tax forms in and reluctantly write some checks.

For others, that day came and went like any other – and now they are in a bit of a pickle.

Being late on your taxes isn’t ideal, but it happens. In fact, more than 19 million Americans submitted extensions last year, according to the IRS.

For people in that predicament, the big question is: What now?

“Don’t panic,” says Anna Sergunina, president and CEO of MainStreet Financial Planning in Los Gatos, California. “Falling behind happens to the best of us. It’s always better to face reality and take action, rather than hide and avoid the problem.”

Just know that delaying will only hurt yourself. “If you don’t file and you owe taxes, you will end up owing even more,” says Kay Bell, a tax expert and blogger in Austin, Texas (on Twitter as @taxtweet). “Penalties and interest charges kick in the next day, and keep adding up. It can quickly become a disaster area.”

Here are tips from the tax pros. 

U.S. dollar banknotes are seen in this illustration. REUTERS/Dado Ruvic/Illustration

The U.S. economy is in much better shape today than it was during the Great Recession. But persistent inflation and last year’s sharp stock market decline have shaken the confidence of American workers and retirees about their future retirement prospects in a way not seen since 2008.

That is the key finding of the 2023 Retirement Confidence Survey – the longest-running survey of its kind measuring worker and retiree confidence. Conducted by the Employee Benefit Research Institute and Greenwald Research, the survey is in its 33rd year.

Should you change your retirement plan to assume higher inflation? Probably not. Research by J.P. Morgan Asset Management notes that inflation averaged 2.9% per year from 1982 to 2022, so a long-range assumption of 2 to 3 percent still seems reasonable. If you want to stress-test your plan, you can always push the numbers higher.

But good luck making the numbers work.

A mother and daughter pose for a selfie by a tulip patch at Descanso Gardens in La Canada Flintridge, California. REUTERS/Mario Anzuoni

Whether they actively teach us about finances, or we just observe how they handle the business of life, mothers can have a massive influence on our financial lives.

For Mother’s Day, we asked a few business leaders about the best money advice they ever got from their moms. Here is what they had to say.

Do you need a durable power of attorney? A healthcare proxy? Send your money questions to me, and I’ll tap my extensive source network and braintrust for expert advice.

Submit your questions here. And don’t forget to subscribe to this newsletter.

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