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When Will Social Security Run Out of Money? Latest Prediction Offers Good News
Here's a rare piece of good retirement news: The Social Security program is now expected to be able to pay full benefits until 2035, which is a year later than previously thought. According to a new report from the Social Security Board of Trustees, which oversees the finances of the...
Buyer Beware: Costco Gold Is Easier to Purchase Than Sell
There's been a gold rush at Costco. As prices of the precious metal hit all-time highs on numerous occasions this year, it's fueled a buying spree for gold bars being sold by the members-only warehouse club. Wells Fargo analysts said they expect Costco's revenue from gold sales to be between...
How DoorDash and Uber Eats Are Fighting Back Against Couriers Using False Identities
Consumers using gig economy apps may be interacting with unauthorized workers without even realizing it, a growing problem that could create customer safety issues. Delivery apps — and to a lesser extent, ridesharing apps — have come under scrutiny due to concerns about account sharing, which often involves an illegitimate courier or driver using someone else's credentials. The companies say they’re taking action to root out the problem and protect customers.
Time Is Money: Americans Say Their Time Is Worth $240 an Hour, on Average
Americans consider their time to be extremely valuable: On average, they think it’s worth $240 per hour. Survey data from Empower, a financial planning company, shows that there’s a huge gap between what workers actually earn and what they feel they deserve. “Based on this study’s findings of...
Dollar Scholar Asks: What Do PPO, HMO and Other Health Plan Acronyms Mean?
This is an excerpt from Dollar Scholar, the Money newsletter where news editor Julia Glum teaches you the modern money lessons you NEED to know. Don't miss the next issue! Sign up at money.com/subscribe and join our community of 160,000+ Scholars. In journalism school, I was always taught to avoid...
Dollar Scholar Asks: Could I Realistically Become a Millionaire?
This is an excerpt from Dollar Scholar, the Money newsletter where news editor Julia Glum teaches you the modern money lessons you NEED to know. Don't miss the next issue! Sign up at money.com/subscribe and join our community of 160,000+ Scholars. I’m no stranger to goal-setting. In fact, I have...
Homeowners Are Increasing Insurance Deductibles to $5,000 or More to Save Money
Home insurance customers are raising their deductibles to upwards of $5,000 or even $10,000 to offset rising premiums, according to industry reports. High-deductible policies can save customers hundreds of dollars per year in premiums, but they can prove painful if and when the homeowner files a claim: The deductible is the amount an owner must pay out of pocket before the insurance company covers rest.
Dollar Scholar Asks: What Are the Best Money Tips for Traveling Abroad?
This is an excerpt from Dollar Scholar, the Money newsletter where news editor Julia Glum teaches you the modern money lessons you NEED to know. Don't miss the next issue! Sign up at money.com/subscribe and join our community of 160,000+ Scholars. All that pasta must have messed with my brain.
Why Some Social Security Recipients Will Get 2 Payments in May
Certain beneficiaries of Social Security are getting an extra check in May thanks to an anomaly in the Social Security Administration’s payment schedule. The usual payments for recipients of Supplemental Security Income (SSI), which provides assistance for some Americanas 65 and older and qualified adults and children with disability or blindness, went out on the first of May. Another check will be distributed on the last day of the month, and none will go out in June.
How New Overtime and Noncompete Rules Empower Millions of Workers
In a major win for workers, federal government agencies released two highly anticipated rules last week that are expected to boost pay for millions of Americans and allow them to change jobs more freely. The Federal Trade Commission finalized a rule on April 27 that would invalidate almost all noncompete...
'Don't Panic': 5 Tips to Help Homebuyers Cope With 7% Mortgage Rates
Higher interest rates are increasing pressure on homebuyers who are already facing a challenging housing market. Many would-be buyers are understandably putting purchasing plans on hold, but there are no signs mortgage rates will drop significantly in the near future, and there are some sensible steps to take if you want to become a homeowner soon.
AI and Home Security: What To Know
In recent years, artificial intelligence and machine learning have been rapidly integrating into other types of technology and breaking ground in different industries. Considering some of its issues and the risks it poses, AI’s involvement in home security might be a cause for concern. However, there are certain advantages...
FAFSA Update: What to Do if You're Still Waiting for a College Financial Aid Letter
In a typical year, the start of May would mark the end of the college application process, with most incoming freshmen knowing where they were going in the fall. This year, though, has been anything but ordinary. Families across the country are still waiting on financial aid letters from at...
4 Key Benefits of a Home Security System
Home security systems are no longer considered a luxury, but could be a smart investment for your home, wallet and the environment. Today’s innovative and intelligent monitoring systems like ADT do more than just help deter potential intruders and burglars — but their smart home automation features could help people maintain a more sustainable and green lifestyle.
Why Investors Can Ignore the Fed's Interest Rate Decision This Week
The Federal Reserve's third Federal Open Market Committee (FOMC) meeting of 2024 is underway. During the meetings, the central bank strategizes its monetary policy, which routinely sends the markets into a frenzy over interest rate speculation. Expectations for this meeting, which will account for both the April and May FOMC...
‘Income Dream Come True’: Savers Have Several Risk-Free Ways to Beat Inflation
Beating inflation may not be as hard as you think. Many savings products and fixed-income investments are offering positive real yields — meaning that their annual percentage yield (APY) is higher than the rate of inflation. This is actually a fairly rare occurrence in the grand scheme, allowing savers to beat inflation with a risk-free investment.
Chase Sapphire Reserve® Review 2024
Why we like it: The Chase Sapphire Reserve® packs all of the luxury benefits premium cards are known for, but for a lower annual fee than some competitors. Welcome offer: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.
What Causes Carbon Monoxide in a House?
More than 400 people die and an additional 100,000 go to the emergency room in the U.S. each year for accidental carbon monoxide poisoning, according to the Cleveland Clinic. Scarily, many things in our homes can produce the deadly gas. Keep reading to learn more about carbon monoxide, including what...
Alphabet, Now a $2 Trillion Company, Will Start Paying Dividends to Shareholders
Google's parent company Alphabet recently made some announcements that should have current shareholders and prospective investors equally excited. In its earnings call on Thursday, April 25, Alphabet (GOOGL) reported better-than-expected first quarter earnings, a $70 billion stock buyback plan and — most intriguing of all — the approval of its first-ever dividend.
Student Loan Debt Has Forced Over 70% of Borrowers to Delay Major Life Events
Student loans are such a burden for Americans that 71% of a surveyed group of borrowers say they’ve delayed a major life milestone due to their debt. That's according to a recent Gallup and Lumina Foundation report, which found borrowers have postponed major purchases including homes (named by 29% of respondents) and cars (28%). Debt has also led borrowers to delay moving out of their parents’ homes and put off having children.
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