Authorities revoked the registration of a financial adviser from New Jersey who pocketed about $1.5 million when he steered two clients to invest their money with a CEO friend of his banned from the securities industry. Carlos Leston convinced the clients — one of whom was in her late 80s — to buy a total […]
Many people have fallen on hard times financially within the past few years, and it may feel like the situation is hopeless. But amongst the despair, one financial expert shared his recipe for financial success. Dave Ramsey, a personal finance expert, recently shared a clip on his TikTok channel featuring seven steps for financial success […]
Legislators are considering a bill that could boost Social Security benefits for millions. The Social Security Fairness Act, which would close loopholes that prevent retirees who receive specific government pensions or other benefits from receiving payments, is gaining traction after lawmakers successfully advanced it earlier this month using a discharge petition, which allows bills to be brought […]
Millennial couples are at risk of losing $908,000 in lifetime Social Security benefits if Congress fails to address the program’s funding shortfall. That’s according to a new report by HealthView Services, a software company that provides retirement health care data to financial advisors. The report looked at several Social Security reforms and calculated the financial […]
The countdown for a depleted Social Security fund is on. The Social Security Administration has stated that taxes funding the program will only be enough to pay for 75% of benefits starting in 2025. While coming up with solutions to fund the additional 25% has been a hot topic lately, one survey found that 75% […]
The government applies the same COLA to everyone, but some people still see a bigger boost than others. The Social Security Administration will announce the 2025 cost-of-living adjustment (COLA) on Oct. 10, 2024. Until then, you can only make your best guess as to what it’s going to be. The existing data suggests the COLA […]
More couples than ever before, 87%, reported including cash funds in their wedding registry, according to recent data from Zola. Of couples collecting cash, 37% are putting that money toward purchasing a house. With today’s housing market, it’s clear why couples are funneling wedding gifts into a down payment. Homebuying has become increasingly out of reach for young Americans. […]
If you’re thinking about retiring, make sure you can do so peacefully. Right now, half of Americans can’t. In fact, about 57% of Americans say they’re behind on their retirement savings, as noted by Bankrate’s Retirement Savings Survey. About 35% say they’re significantly behind. “Only 15 percent of workers feel ahead of where they should be, […]
Gen X, born between 1965 and 1980, is approaching retirement, but according to recent data from Fidelity, the financial outlook for the average Gen Xer is concerning. Fidelity reports that the average retirement savings for Gen X as of Q2 2024 is only $182,100. While this may seem like a lot of money to some, […]
Forest, 40, and Kathleen, 42, have been living large in California. The couple earns over $286,000 a year, which should be enough to live fairly comfortably with their two children. But years of reckless spending have landed the couple deep in the red, they recently told self-made millionaire Ramit Sethi, author of the forthcoming book, “Money for Couples,” on an episode of […]
We all know that comparing ourselves to others can be a slippery slope, but when it comes to retirement savings, it’s hard not to wonder: Am I doing better or worse than the average saver? Checking where your 401(k) balance sits can give you some insight, but remember – your retirement is your own journey […]
Its average increases have seemingly kept pace with inflation, but they haven’t necessarily kept up quite as well with expenses unique to seniors. Many people are aware that Social Security’s retirement benefits grow over time. But by how much? Do these increases actually keep up with inflation, as intended? Here’s how things have changed over […]
