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Caroline Hwang

Retirement, Investing and Budget Expert

Caroline Hwang has been writing about personal finance for more than 20 years. She is a Certified Educator in Personal Finance (CEPF®). Her work has appeared in print and online, including in the New York Times and HuffPo. Before coming to SmartAsset, she worked on the staffs of such publications as Glamour, Redbook and Good Housekeeping. Caroline has a bachelor’s from the University of Pennsylvania and an MFA from New York University. She has yet to beat her young son at chess.

Posts by Caroline Hwang:

by Caroline Hwang May 20, 2020

If you are near retirement and recently unemployed, you have a lot of company. Roughly 600,000 Americans between the ages of 55 and 64 left the workforce in April, according to the New School’s Schwartz Center for Economic Policy Analysis (SCEPA). Some were voluntary departures, but presumably most were layoffs. What’s more, SCEPA estimates that in the coming months, if the unemployment rate reaches 25%, the number of older workers who lose their jobs due to the coronavirus recession will grow to 10.5 million. Read more

by Caroline Hwang May 18, 2020

Coming in at 1,815 pages, the new coronavirus relief bill proposed and approved by the House is a giant wishlist. Named the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, it includes: $540 billion for states, territories and tribal governments; $100 billion for a public health and social services emergency fund; $100 billion for emergency rent assistance; $90 billion for state grants to support public school systems; $75 billion for a homeowner assistance fund; $75 billion for COVID-19 testing and and contact tracing and $25 billion for the postal service. All told, just the appropriations take up 140 pages and add up roughly to $3 trillion. When combined with the costs of the Coronavirus Aid, Relief and Economic Security (CARES) Act and the interim bill after it, that’s a whopping $6 trillion in aid so far. The House approved the bill last Friday; the Senate, though, says it wants to see the impact of the last stimulus bills before considering a new one. In… Read more

by Caroline Hwang Apr 30, 2020

Though Oregon’s first case of coronavirus was even before epicenter New York’s, the western state has kept its caseload relatively low. Its population is not as dense, of course. But state-issued social distancing measures have also played a key role in slowing the spread. Schools have been closed since March 16 and the entire state has been under stay-at-home orders since March 23. But what has been great on the health front has been harmful to the state’s economy. As is the case in most of America, Oregonians are coping with the financial hit of non-essential businesses closing and employees losing their jobs. To help individuals, families and businesses get through these challenging times, SmartAsset has compiled this list of state and federal relief programs that have been created or enhanced in response to the coronavirus pandemic. But for hands-on help with your finances and investments, it may be a good time to hire a financial advisor. Read more

by Caroline Hwang Apr 27, 2020

As of April 20, some Vermonters are returning to work amid the COVID-19 pandemic. The phased restart of business allows for outdoor businesses (such as landscaping and utilities) and construction… Read more

by Caroline Hwang Apr 25, 2020

Small business owners who missed out on the first round of PPP loans and EIDL grants will have another shot. Congress has approved what’s officially called the Paycheck Protection Program and Health… Read more

by Caroline Hwang Apr 17, 2020

Compared to neighboring states Ohio and Tennessee, Kentucky has had far fewer coronavirus cases so far. Some counties have yet to tally even one case, though epidemiological modeling forecasts that… Read more

by Caroline Hwang Apr 17, 2020

Louisiana was the fourth state in the U.S. to be declared a major disaster – and the fourth state to tally 1,000 coronavirus deaths. A large portion of infections and deaths are located in tourist… Read more

by Caroline Hwang Oct 01, 2022

The Paycheck Protection Program (PPP) is closed again. This is the third time since its inception. The first time was when it ran out of its $349 allocation; an interim stimulus bill gave it another … Read more

by Caroline Hwang Jul 13, 2020

In an effort to help curb the economic effects of the coronavirus pandemic, President Donald Trump signed a coronavirus stimulus package called the Coronavirus Aid, Relief, and Economic Security … Read more

by Caroline Hwang Jun 30, 2020

As the coronavirus pandemic intensifies, Americans are facing not only a public health crisis but an economic one as well. To help you navigate this uncertain period and protect your financial well… Read more

by Caroline Hwang Jun 03, 2020

Navigating a recession requires an intelligent, fleet-footed strategy to safeguard your money and protect your financial future amid the downturn and uncertainty. Truth be told, no one, including the… Read more

by Caroline Hwang Jun 10, 2020

Long before investing disruptors E-Trade and Betterment came on the scene, there was Charles Schwab & Co., Inc. A maverick since its inception in 1973, Charles Schwab brokerage cut its fees by half… Read more

by Caroline Hwang Nov 08, 2019

A headache wrapped in a lot of bother, attached to a hefty price tag. For many people, that’s what switching financial advisors seems like – and so they put it off, indefinitely. But replacing your… Read more

by Caroline Hwang Oct 02, 2019

Contrary to public perception, trusts aren’t only for the wealthy. Indeed, anyone who owns property in Vermont and whose estate is worth more than $10,000 may want to set up a living trust to avoid… Read more

by Caroline Hwang Oct 01, 2019

After working so hard to build and manage your wealth, you’re not about to let it just scatter to your heirs without a plan. You want to steer it to them intact, which may include creating a living… Read more

by Caroline Hwang Oct 01, 2019

After the years you put into building your wealth, you want to pass it on to your heirs intact – and ideally without the delay of the courts. For Kentuckians, setting up a living trust makes a lot of… Read more

by Caroline Hwang Sep 30, 2019

It’s not only natural to be thinking about what will happen to your property after you die. It’s also smart. For Tennesseans who want to spare their heirs the time and expense of going through… Read more

by Caroline Hwang Sep 11, 2019

There are more ways to invest $1 million than you might think. It’s smart to have a plan in place and to assess your goals for growth and risk tolerance. Of course, you’ll also want to factor in how… Read more

by Caroline Hwang Feb 18, 2021

Formerly called Matador, Public is a stock-trading app for rookie investors that has been available to the general public since March 2019. It’s like many other beginner investing apps (think… Read more

by Caroline Hwang Aug 19, 2019

When people talk about a market correction, it sounds like a euphemism for falling stock prices. But it’s actually a technical term for a 10% or bigger drop in the price of an index (or individual… Read more

by Caroline Hwang Aug 24, 2022

For an interest-only retirement, you’ll need to have a large nest egg. How big a nest egg is depends on your target income and the interest rate. For example, an annual income of $48,000 would… Read more

by Caroline Hwang Oct 01, 2022

There’s always some risk involved with being an investor. However, there are strategies investors can use to be safer with their money, while also garnering some returns. For instance, you can keep… Read more

by Caroline Hwang Jan 12, 2022

For most, the advantages of 401(k) plans outweigh the disadvantages. But there are some people who would benefit from steering their retirement savings to other investment vehicles. Could you be one… Read more