Like many people forced to work from home after the onset of the Covid-19 pandemic, Lauren Niesz, 26, found the conditions were not necessarily ideal. Niesz, who rented a townhouse in southern New Jersey, found herself often working from a closet so that her live-in boyfriend’s work calls did not interfere. Moreover, the couple’s now […]
Category: Personal Finance
Financial therapy can help you confront bad money practices as a result of financial trauma
Money can be a very sensitive topic. In fact, it’s a nationwide taboo in the US. A 2018 survey found that 39% of people consider salary or income a taboo subject among friends, which is higher than marital problems at 20% or political views at 17%. Yet, the majority of people in the US feel stressed about money. […]
You have less money saved for retirement than you think
You almost certainly are too optimistic about how fast your retirement portfolio will grow. And that could cause grave problems for you in coming years. A too-high return assumption leads you to withdraw too much from your portfolio early in your retirement—thereby shortchanging your later years. This is why a realistic rate of return is […]
Does Crypto Belong in Your Retirement Portfolio?
Cryptocurrencies have been on a bumpy ride recently, which may have you wondering whether virtual currencies should have a place in your retirement portfolio or not. If you’re considering including crypto among the assets in your retirement investment account, there are five key questions you should ask yourself to determine if this is a good […]
Check Your DMs for Debt Collectors and Scams
Social media is where you watch cooking videos, gaze at photos of dreamy travel destinations and doomscroll through endless news headlines. Now, sites like Instagram, Facebook and Twitter could also be where debt collectors slide into your DMs. In late 2021, rule changes under the Fair Debt Collection Practices Act went into effect that specify […]
Thousands eligible for $800 boost in their monthly Social Security check – here’s how to apply
For many seniors, you can receive retirement benefits based on your spouse’s earning record if their earnings are higher than yours. This means that you can receive your spouse’s benefits in addition to your own, as long as you apply. To be eligible to receive the spousal benefits, you must be at least 62 years […]
4 ways to upgrade your retirement plan and overall financial health right now
Even though the financial marketplace has become saturated with new products, there’s something elegant about committing yourself to the basics. Here, we’ll discuss four steps to instantly upgrade your financial plan: 1. Max out your tax-advantaged accounts Since everyone has a different set of circumstances, it’s good to remember that some people will have more tax-advantaged […]
Social Security: How to get a new social security card?
A Social Security number is important because you need it to get a job, collect Social Security benefits and get some other government services. You should keep your Social Security card in a safe place with your other important papers and avoid giving it out unnecessarily. In most cases, simply knowing your Social Security number is enough. Nevertheless, […]
What is the difference between social security and supplemental security income?
The Social Security Administration (SSA) pay out benefits for a variety of programs, two of the most common being Social Security and Supplemental Security Income (SSI). The programs target different populations, but certain individuals may be eligible to claim benefits from both. What is Supplemental Security Income? SSI provides an income to low-income people who are blind, deaf, and/or elderly. Unlike Social Security, children, […]
Will Social Security run out of money? Here’s what could happen to your benefits if Congress doesn’t act
For millions of retirees, Social Security provides an essential source of income in retirement. In 2020, around 50 million retired workers collected Social Security benefits, according to the Social Security administration. However, the recent 2021 Social Security Trustees report finds that in 2034, retirees will start receiving a reduced benefit if Congress doesn’t fix funding […]
Mutual funds offer instant investment diversification — here’s how they work
Buying individual stocks is certainly a way to try and grow your wealth in the market, but it comes with considerable risk. In addition, choosing which stocks to invest in requires doing extensive research beforehand. For those who want a way to invest that’s more convenient, with lower costs, less risk and more diversification, mutual […]
What is a credit card product change, and when does it make sense?
Adding a new credit card to your wallet can result in a huge haul of rewards and unlock an array of valuable perks. However, there are times when you may not want to apply for a new card — like if you’re getting ready to buy a house. Likewise, there may be times when you […]