The FinTech revolution is transforming the financial industry rapidly. The use of digital technologies is the norm, and together with regulatory and market changes, it is creating a revolution. FinTech has also assisted in leveling the financial playing field by giving everyone access to services that were previously reserved for the privileged. Now we have […]
As the coronavirus shut down the economy last spring, many consumers had their budgets cut by default. Trips and shows were canceled, nonessential medical procedures were postponed and restaurants closed. For retirees living on portfolios—or those forced into retirement unexpectedly due to the virus—the forced spending slowdown may have helped cushion the financial blow as […]
There are still a lot of moving parts with the first stimulus package. For one, checks are still being mailed out. The last checks aren’t supposed to hit mailboxes until September. Plus, it’s estimated at least 365-thousand people who were supposed to get money for their dependents…didn’t. That could be fixed next week. Starting August […]
Millions of Americans have lost their jobs during the coronavirus pandemic – and many who are claiming unemployment benefits may be faced with a surprise tax bill next year. The IRS requires people to report income received in the form of unemployment. Some states tax benefits, too. However, when you receive unemployment there’s typically no […]
In general, using as little of your credit card limits as possible is better for your score. So logic would suggest that paying off your credit cards early so that a zero balance is reported to the credit bureaus would produce the highest scores, right? Turns out, having 1% of your credit limits in use […]
Retirement can be a scary prospect. In exchange for the freedom of not having to report to an office every day, you’re instead propelled into a situation where you’re forced to live on a fixed income. That’s why it pays to save as much for retirement as you possibly can. The stronger your nest egg, […]
As companies look for ways to reduce their workforce to trim costs during the pandemic, more are offering early retirement packages to their employees. And it’s not just affecting individuals in their late 50s or older. Younger workers who are in their 40s are getting offers too. The trend has become widespread in industries such […]
The only constant is change in the COVID-19 era, and college students and their families are dealing with near-daily upheaval as they look to the fall. Colleges are increasingly releasing updates to their instructional plans that shift most, if not all, of students’ coursework online. But not all colleges have reduced their costs as a […]
Some Americans who qualified for stimulus checks received an unwelcome surprise when the $500 payments for their children under 17 were not included. Starting today, the U.S. government plans to send out the missing cash. That applies to those individuals and couples who are not required to file a tax return and used the IRS […]
Preparing for retirement is tough regardless of your age, but it can be particularly challenging if you’re in your 40s. At this age, you may have a mortgage to worry about, kids to put through school, and you might still be paying off student loans — not to mention all of the other everyday expenses […]
When you begin Social Security is a big decision, and it’s difficult to undo later if you decide you’ve made a mistake, so you want to get it right the first time. Hopefully, you’ve thought it out carefully and understand how Social Security fits into your larger retirement plan, but it doesn’t hurt to review […]
Into the second week of negotiations, Democratic leaders meeting with White House officials say they are making progress, slowly, on the outlines of the next economic relief package. One bit that the two sides already agree on, according to Treasury Secretary Steven Mnuchin is a second stimulus check worth up to $1,200. There’s “enormous bipartisan […]
