Social Security’s impending insolvency has been a topic of concern for both conservatives and liberals alike. Recently, a research proposal published by the Center for Retirement Research at Boston College has raised eyebrows. The proposal, authored by conservative economist Andrew Biggs and left-leaning economist Alicia Munnell, suggests redirecting funds from retirement savings plans to aid
Personal
Money has always been a complex topic in relationships, often causing disagreements and conflicts. However, recent studies suggest that co-mingling accounts may be the secret to a happy marriage. According to a report by LendingTree, couples with joint accounts have fewer fights about money compared to those who don’t share an account. Furthermore, the study
Credit card debt in the United States has reached an alarming new high, creating significant financial strain for millions of Americans. According to the Federal Reserve Bank of New York, the total credit card debt now stands at a staggering $1.13 trillion, with a 10% increase from the previous year. This surge in debt has
Determining the correct amount to withhold from your paycheck for taxes can be a perplexing task. If you end up with a substantial tax refund or a surprisingly large bill, it might be time to reevaluate your paycheck withholding. Fortunately, you can rely on a simple calculation to help you make the necessary adjustments and
The U.S. Department of Education recently unveiled a new initiative called the “FAFSA College Support Strategy” to address the numerous setbacks faced in the processing of Free Application for Federal Student Aid (FAFSA) forms. Secretary of Education Miguel Cardona expressed determination to rectify the situation, collaborating with high-need institutions and offering a concierge service to
In the hustle and bustle of modern life, it’s all too easy to fall into a rhythm of mindless spending. We often find ourselves constantly chasing a happiness that always seems just one purchase away. However, recent research conducted by Cigna and Morning Consult in 2022 reveals a startling truth: 58% of U.S. adults feel
Filing taxes has become more expensive in recent years, with tax preparation and accounting fees seeing an 8.3% increase in November 2023 compared to the previous year, according to the U.S. Bureau of Labor Statistics. This rise in costs can be attributed to a growing accountant shortage in the industry. As a result, taxpayers are
As we age, there’s truly no place like home. According to AARP, a staggering 77% of adults aged 50 and above aspire to stay in their homes for the long term. However, many individuals are postponing the necessary improvements and upgrades to their homes that would enable them to age in place comfortably. It is
The job market may appear robust on paper, with data showing that U.S. employers added 2.7 million people to their payrolls in 2023 and unemployment hitting a 54-year low at 3.4% in January. However, active job seekers are facing a different reality. Despite the positive numbers, finding a job has become increasingly challenging for many,
In a significant move, House lawmakers have passed a bipartisan tax package worth $78 billion. One of the key components of this package is the expansion of the child tax credit (CTC), which is expected to benefit millions of children from low-income families. This article will delve into the details of the tax package and