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As we reflect on the financial landscape of 2023, one cannot help but acknowledge the unexpected positive turn of events for retirement savers. Despite the challenges faced in the previous year, retirement account balances have shown a remarkable recovery. The latest data from Fidelity Investments, a leading provider of 401(k) savings plans, reveals that the
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Losing a job can be an incredibly troubling experience, but it’s crucial to remember that it’s not the end of the world. In the wake of recent layoffs at companies like Amazon, Google, Microsoft, and Paramount, many workers are finding themselves without a paycheck. One way to navigate this challenging situation is by leveraging any
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In the midst of mass layoffs and job cuts, experts are finding a silver lining in the form of a resilient job market. Despite the record number of companies announcing layoffs in January, there are still opportunities for job seekers to find their next position. However, in order to navigate this changing landscape, it may
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In 2023, Social Security beneficiaries were granted a record 8.7% cost-of-living adjustment to combat rising inflation. However, as tax season rolls around, many may find that more of their benefit income is subject to taxation. Lawmakers, both Democrats and Republicans alike, have proposed eliminating these taxes on benefit income in order to provide relief to
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In recent years, credit card interest rates have skyrocketed to record highs, with the average consumer paying a 22.8% interest rate on their credit card balance at the end of 2023. This is the highest it has been since the Federal Reserve started tracking data in 1994. Interest charges, expressed as an annual percentage rate,
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Student loan forgiveness programs have been hailed as a beacon of hope for borrowers drowning in debt. Marlon Fox, a chiropractor in North Charleston, South Carolina, experienced this first-hand when his student debt of $119,500 was reset to zero, and he received an additional refund of $56,801 from the U.S. Department of Education. This elation,
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In today’s uncertain world, especially as a Gen Z adult, it is crucial to be intentional with your money. With headlines constantly reporting on environmental degradation and financial insecurity, it’s easy to question the value of saving for the future. However, the key lies in perception. Setting money aside now can be beneficial in various
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