In the United States, there is a growing population of individuals who are financially vulnerable, known as ALICEs. These individuals fall into the category of Asset Limited, Income Constrained, Employed, as defined by United Way’s United For ALICE program. These individuals earn slightly above the poverty line but struggle to make ends meet due to
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As wedding and engagement season approaches, many couples find themselves planning for their future together. One crucial conversation that often gets overlooked is how to manage and pay the bills as a married couple. It may not be the most exciting topic to discuss, but it is essential for maintaining financial stability and preserving the
A recent U.S. Labor Department rule is set to revolutionize the world of retirement investment advice and significantly impact the guidance given to investors considering rolling over funds from 401(k) plans to individual retirement accounts (IRAs), according to legal experts. Issued on April 23, the new “fiduciary” rule aims to elevate the standards for brokers,
As voters gear up to cast their ballots this coming November, they aren’t just deciding between political parties – they are also making a pivotal choice regarding the fate of Social Security. The program, set to allocate a whopping $1.5 trillion in benefits to nearly 68 million Americans per month by 2024, serves as a
The IRS Direct File tax filing pilot program has evidently been successful this season, with over 140,000 taxpayers utilizing it to file their returns. This initiative, which was free for certain taxpayers in 12 states, saved filers an estimated $5.6 million in tax preparation fees for federal returns. The high satisfaction rate among users, with
BlackRock, the largest asset manager, recently introduced a new product called LifePath Paycheck to assist workers in transforming their retirement savings into a steady income flow that mirrors their monthly paychecks during their working years. This innovative option aims to simplify the process of withdrawing funds from lifetime investments, which has become increasingly complex due
Employee Stock Purchase Plans, commonly known as ESPPs, can be a valuable benefit for employees of publicly traded companies. However, before deciding to participate in your company’s ESPP, it’s crucial to understand the rules and risks associated with it. According to financial experts, around half of public companies offered an ESPP in 2020. The allure
President Joe Biden’s initial plan to forgive student debt was blocked by the Supreme Court last summer, leading his administration to develop a new relief package to withstand legal challenges. The U.S. Department of Education has crafted a more targeted approach to debt forgiveness in the hopes of overcoming previous obstacles. The Biden administration’s revised
Filing taxes can be a stressful experience, especially when the deadline has passed. The federal tax deadline was April 15 for most filers, and missing it can have serious consequences. If you still owe taxes for 2023, you’ll continue racking up penalties and interest until you file and pay your outstanding balance, as per the
The Biden administration has recently rolled out a final rule aimed at tightening the regulations surrounding investment advice provided to retirement savers. The new rule, issued on Tuesday by the U.S. Department of Labor, seeks to ensure that investment recommendations are focused on the best interests of the savers rather than potentially conflicting interests of