Thousands of student loan borrowers who seriously need their tax refund money now aren’t getting it because the federal government isn’t following its own rules, a new lawsuit charges. The $2.2 trillion stimulus bill passed in March put a six-month pause on the Department of Education’s ability to take someone’s tax refund money and apply […]
Retirees are feeling the pinch from Covid-19. The financial app Personal Capital found that from Jan. 31 to March 31, retirement balances dipped by 10% for people in their 60s. Those in their 70s saw their accounts slip 8.5% during the same period. Retirement in general seems shakier now. In fact, almost 1 in 4 […]
Nearly one-third (30%) of people said they used their stimulus checks to pay bills, according to a survey released this week, another sign that Americans are struggling to make ends meet, particularly with more than 38 million people filing for unemployment since mid-March. Those bills — including for cellphones, utilities, cable TV and rent — […]
Ever since cryptocurrencies busted on the scene, they’ve fought to grow their legitimacy by gaining access to retirement accounts. It’s a particularly valuable spot for the asset. Within an individual retirement account (IRA), for example, you could, theoretically, hold the majority of your coins never spending the investment as they grow, tax-free. Once you withdraw, […]
Even before the COVID-19 pandemic pounded the economy, research had shown that maybe four out of 10 Americans retired before they had planned. This fact comes from Scott Wardell, an Eden Prairie financial planner and adviser who in 2013 published “Retiring in Turbulent Times,” walking readers through the financial lives of nine families who had […]
A House bill with bipartisan support would allow 2020 college graduates to postpone their student loan payments for three years without interest accruing. Meanwhile, Sen. Mitt Romney, R-Utah, has introduced legislation in the Senate that would do the same. “Students graduating from college this year are suddenly facing significant hurdles entering the workforce,” Romney said […]
If you have several debts, using a personal loan to consolidate what you owe into one manageable monthly payment could be a convenient way to reduce the amount of interest you’re paying and help clear your debt faster. We take a closer look to help you assess whether it’s the right choice for you. How […]
The pandemic may have pushed you to save money with all the uncertainty out there about making ends meet, but financial experts say it could also pose a risk to our economy’s recovery. Linda Kobler just got back to work at the Naples Soap Company, and though business is back in action, she said her […]
Workers at all income levels, except for those in safe jobs, face double-digit unemployment risks due to the COVID-19 recession. The effects of this downturn will stay with most older workers for the rest of their lives. Since March, enough economic data have come in that make predicting what will happen a bit easier. Our […]
Whether unemployed or still working, many Americans are looking for extra funds during the coronavirus pandemic. About 14% of those with retirement savings have taken money from accounts such as 401(k)s and individual retirement accounts to meet that need. Another 13% of those with savings say they’re planning to make use of their retirement funds. […]
If you’re applying for a personal loan, securing a low interest rate is critical — especially if you’re borrowing a large amount of money. While shopping around for lenders can certainly help (rates vary greatly from one to the next), there are other things you can do to improve your chances of getting a low interest rate […]
The COVID-19 pandemic has hit cash-strapped seniors hard. Many have watched their retirement portfolios plummet, and they’ve been unable to make up for it because they cannot go to work to earn more money. Unemployment and stimulus checks help a little, but those 62 and older have another place they can turn to for extra […]
