Commencement ceremonies at the Harvard Business School campus in front of Baker Library, in Boston, … [+] MA on May 29, 2014. (Photo by Rick Friedman/rickfriedman.com/Corbis via Getty Images) Corbis via Getty Images Paranoia is frequently a combination of overdeveloped self-importance, a need to explain perceived patterns in life, and confirmation bias. But there are… More
If you own any Treasuries, take a grim look at what’s left after inflation and taxes. Inflation has already crossed the 6% mark. Are we going to see 7%? What does that do to savers? My answers are “Yes, soon” and “They get slaughtered.” The inflation rate, as measured by the one-year gain in the… More
Holiday hiring sign is displayed at a retail store in Vernon Hills, Ill., Saturday, Nov. 13, 2021. … [+] The number of Americans applying for unemployment benefits fell for the seventh straight week to a pandemic low 268,000. U.S. jobless claims dipped by 1,000 last week from the week before, the Labor Department reported Thursday,… More
TIPS won’t do it. If you want to come out ahead, you have to take some risks. Gold mining in Columbia (photo by Edinson Arroyo) © 2021 Bloomberg Finance LP The run-up in prices that the authorities were calling “transitory” seems to be sticking around for a while: 6.2% over the 12 months to October.… More
Ecuador’s newly sworn-in President Guillermo Lasso. He allegedly transferred assets to trusts in … [+] South Dakota in 2017 amid reports that questioned his interests in a bank in Panama. (Photo by Cristina Vega RHOR / AFP) (Photo by CRISTINA VEGA RHOR/AFP via Getty Images) AFP via Getty Images In recent decades, South Dakota has… More
ONTARIO, CA – MAY 23: New houses line the street in the Inland Empire, the area east of Los … [+] Angeles, in Riverside and San Bernardino Counties, May 23, 2003 in Ontario, California. The high cost of housing in the Los Angeles area has many Angelinos opting for lower priced new homes in the… More
Most families with children are eligible for advance payments of the 2021 Child Tax Credit. getty Some 36 million families are eligible for advance payments of enhanced child tax credits for 2021, and the Internal Revenue Service has launched two new online tools to help taxpayers navigate this tax law change. There’s a Child Tax… More
Social Security payments are largely based on your lifetime earnings history. If those records are incorrect, you may receive a lower benefit when you retire. Of course, nearly everything that’s reported to Social Security comes from your employers and tax returns (if self employed). Although you receive a statement every year on how much you… More
Couple enjoying a sailing cruise. getty The House Ways & Means Committee is once again tinkering with the law that requires retirees to take minimum distributions from their individual retirement accounts (IRAs) and 401(k)s. Each time, Congress eases the required minimum distribution (RMD) rules at great cost to the federal government. Yet the beneficiaries would… More
Which is better, using appreciated securities or an IRA? Here’s a calculator to answer the question. Volunteers at Habitat for Humanity in Culver City, California. (Photo by John Wolfsohn) Getty Images The 2017 tax law, with its huge standard deduction, did serious damage to the tax benefits of philanthropy: Now, for a lot of taxpayers,… More
Season to pay Tax, Budget, and Tax planning concept. Business woman wear glasses calculating annual … [+] tax and using mobile phone. Calendar 2021 and personal income tax form placed on home office desk. getty For the second year in a row, you have additional time to file your federal taxes. On March 17th, the… More
Protect yourself from Social Security scams. Be on the lookout for fake calls and emails. getty If you’re shopping at CVS tomorrow, you might hear the voice of Social Security Commissioner Andrew Saul over the speaker system, warning Americans to beware of Social Security telephone and email scams. Screens behind customer service desks at Walmart… More
U.S. economist Larry Summers speaks during a panel on the second day of the annual meeting of the … [+] World Economic Forum in Davos, Switzerland, Wednesday, Jan. 18, 2017. (AP Photo/Michel Euler) ASSOCIATED PRESS With talk of yet another pandemic stimulus—or bail-out or rescue, depending on your views—concerns have finally stirred among the economic… More
One of the most alarming trends I’ve seen in recent years is people taking college debt into retirement. Worse yet, millions are unable to adequately save because of this burden. It’s an economic impediment to progress. There’s a lot they don’t tell you about making college affordable and graduating debt free. They should offer required… More
Despite everything else going on, here’s some good news: Social Security benefits will be higher in 2021. The raise is due to the cost-of-living adjustment (COLA), which will increase benefits 1.3% this year. For an individual retiring at “full” retirement age, the maximum Social Security check will rise to $3,148 a month in 2021 from… More
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