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How A 2% Solution Can Be The Key To Increasing Your Retirement Security
GETTY Many people try the wrong route to building their retirement wealth, or rebuilding it after a market decline. The wrong way is to look at only a small part of the financial picture instead of the whole picture. Looking at the whole picture can lead you to faster, easier ways to increase retirement security.…
Read More2020’s Tax Burden by State
Adam McCann, Financial Writer • Jun 24, 2020 This year, Uncle Sam will take his cut of the past year’s earnings a bit later than usual, on July 15. This three-month delay gave Americans some extra time to get their financial situation in order following the economic devastation caused by the COVID-19 pandemic. However, many taxpayers are…
Read MoreHow the Federal Funds Rate Affects Your Wallet
Jerome Powell is the finance world’s Cardi B. As the chair of the Federal Reserve (aka America’s central bank), Powell is the face of a lot of gov money moves that affect you. Like changing the federal funds rate. That’s an important percentage that influences everything from inflation to what you pay to borrow money. Increasing rates means the…
Read MoreFederal Reserve Vows To Help Economy Weather The Pandemic Recession
The Federal Reserve left interest rates near zero Wednesday and once again promised to deliver whatever monetary medicine it can to an economy that’s badly ailing from the coronavirus pandemic. “The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time,” the central bank said…
Read MoreIRS stimulus check: Wrong amount? Here’s a fix
IRS has delivered nearly 160 million economic impact payments worth more than $267B Watch the latest video at foxnews.com If video is not visible, click this link below. How to spend coronavirus stimulus check if you’re struggling financially Financial expert Chris Hogan says as Americans begin to receive their coronavirus relief checks, we should be…
Read MoreCongress Agrees On Favorable Changes To Paycheck Protection Loans: What Does It Mean For Borrowers?
Earlier today, the Senate unanimously approved H.R. 7010, a bill that will dramatically alter several critical terms of the recently-enacted Paycheck Protection Program (PPP). The bill, which passed the House last week and now heads to the President’s desk for signature, will provide much needed relief for borrowers as they seek forgiveness of their loan…
Read MoreOn The Retirement Crisis, We’ve Heard It All Before
“A groundbreaking new study holds troubling news for millions of Americans now nearing retirement age,” pronounces an influential Washington, DC think tank. The study, authored by a prominent economist, finds that “More than 40% of households headed by someone between the ages of 47 and 64 will not be able to replace even half of…
Read MoreSocial Security trust funds could run out even faster due to the coronavirus pandemic
KEY POINTS Social Security’s trust funds could run out as much as four years earlier due to the coronavirus pandemic, according to new research from the Wharton School at the University of Pennsylvania. Just how much the funds are affected will depend on how fast the U.S. economy recovers. Those planning for retirement may want…
Read MoreIf you’re making more on unemployment than working it may mean less help with health insurance premiums — and a tax bill
– Sarah O’Brien KEY POINTS At last count, 10.5 million people were enrolled in health plans through either the federal exchange or a state-run marketplace, according to the Kaiser Family Foundation. One result of the federal government’s expanded unemployment benefits — which added $600 per week to state benefits — is that some unemployed workers…
Read MoreThe average household spends $5,102 a month. Here’s the average breakdown.
Is your spending way above — or below — the average? Find out here. Every household has different priorities when it comes to what you do with your money. But it’s important to make sure your overall total spending isn’t so high that it prevents you from accomplishing important financial goals, such as paying off debt or…
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