Many grandparents, including Clare and Tom, have stepped in as primary caregivers for their grandchildren due to their adult children’s struggles with addiction. In a report by Financial Post, Clare and Tom have been legal guardians to their two grandchildren, now aged nine and 16, for the past three years. Before taking on this responsibility, […]
Retirement is a new stage of life and warrants some changes — both big and small. “Preparing for retirement is a great time to take an inventory of your balance sheet to make sure that what you own is aligned with what’s most important to you,” said Joseph Eck, CFP, owner and financial planner for […]
Swedish fintech giant Klarna is rolling out two new products on Thursday that could make its buy now, pay later offerings more enticing to use. The company is offering consumers in the U.S. and 11 European countries the ability to store money in a Klarna “balance” account, where they can deposit money directly from their bank account. […]
A proposed class-action lawsuit alleges that in April 2024, a hacker group called USDoD stole the personal information of 2.9 billion individuals — including social security numbers, addresses, dates of birth and phone numbers, as reported by Bloomberg Law. News like this can feel understandably scary, since identity theft can wreck your credit and cost […]
Most Americans are “broke” — at least, according to personal finance celebrity Dave Ramsey. During an episode of The Ramsey Show, he told Lauren from Spokane, Washington, why he uses the word “broke” so often — and why he thinks most people fall under that category. Ramsey speaks from a place of experience and has […]
Each month, the Social Security Administration (SSA) conducts several payment rounds for over 71 million beneficiaries of retirement, survivors, and disability insurance (RSDI), as well as those who qualify for the Supplemental Security Income (SSI) monthly payment. However, there will be a slight change to the regular schedule in November: SSI beneficiaries will receive an additional payment on […]
Capitalize, a startup focused on automating 401(k) rollovers, raised a $19 million Series B led by existing investor RRE Ventures. The big picture: Amid an increase in job-hopping and an aging population, 401(k) rollovers have become a big opportunity for financial firms. Context: Rollovers have turned IRAs into a larger part of the retirement pie for […]
A new federal regulation designed to protect folks saving for retirement appears to be in jeopardy. The insurance industry is “likely” to prevail in its effort to quash a U.S. Department of Labor rule intended to prevent financial advisors from pushing savers toward fee-laden products, according to a Wall Street Journal report. The proposed rule […]
Many Americans struggle with emergency savings. It’s hard to even get started, let alone to amass the three to six months of household expenses we are instructed to save. Investopedia, the financial media site, has a new report that sheds light on how much emergency savings we really need. The good news: We now have […]
Retired workers in certain states will get larger cost-of-living adjustments (COLAs) in 2025. Social Security recipients get an annual cost-of-living adjustment (COLA) to protect the buying power of benefits from inflation. The Social Security Administration can’t calculate the official 2025 COLA until the Labor Department publishes the Consumer Price Index data for September. That will […]
Amid the back-to-school shopping season, many parents are bracing for the financial impact as they shop for their child’s school supplies and other necessities. In fact, according to a new survey, nearly one-third (31%) of parents said they are unable to afford back-to-school shopping for their kids this year. In addition, 34% of parents said […]
The cost of living adjustment (COLA) not only impacts retirement benefits, but also the Supplemental Nutrition Assistance Program SNAP, which provides food stamps via an EBT card. This adjustment, carried out by the United States Department of Agriculture (USDA), ensures that allocations reflect the rise in living costs, allowing families to maintain a basic standard of […]
