A single mom of three wishes to help her kids through college, finance their first cars, retire at 65, and outlive her money to leave behind some of that wealth for them. As the sole breadwinner, she decided to sort her finances early on with the help of an in-house financial adviser. She decided to … Read more
Earl LeRoy “Buddy” Carter, the US representative for Georgia’s 1st Congressional district, announced the introduction of H.R. 25, the Fair Tax Act, via a 9th January press release to replace the current US tax code. The Republican Congressman proposed abolishing income, death, gift, and payroll taxes and replacing them with a single national consumption tax. … Read more
In a recent episode of Caleb Hammer’s Financial Audit YouTube podcast, 62-year-old Ted said his financial situation around credit card debt makes him feel like he just started his career with no retirement life in sight. Ted has a master’s degree and works as a retail manager, earning £17 ($21) per hour. When Caleb highlighted … Read more
Many US retirees above 65 are on a fixed income and are dealing with stress, figuring out how to stretch their retirement savings for the remainder of their lives. Some retirees claim Social Security too early and get locked into reduced monthly checks. The top reasons for early claims are financial and health-related concerns. At … Read more
Texas-based Pamela Shields earns £1,166 ($1,470) in monthly Social Security checks, which is hardly enough to pay her bills and support her family. Her long career in human resources ended when she was 59 due to a car accident. Moreover, unexpected medical expenses and helping the family sustain through two divorces led Shields to tap … Read more
An entire generation of Alameda County District 5 residents has had only one supervisor represent them: Keith Carson. Wearing a tawny brown suit with a purple watercolor pocket square, Carson sat behind the Board of Supervisors dais for the last time on Dec. 17 after 32 years of service. “First, I want to give a … Read more
401(k) retirement accounts are among the most powerful investment tools for US workers, given the high annual contribution limits, tax benefits, and free money from employer-matching options. More millennials are tapping into the potential of 401(k) accounts. Fidelity Investments data show that the number of millennials with 401(k) account balances above £798,170 ($1 million) increased … Read more
Dan Weiss, a 79-year-old retired mortgage manager, earns up to £37.07 ($47) an hour on the app TaskRabbit, assembling furniture in Minnesota. Weiss joined TaskRabbit in 2021, drawn to the platform for both the income and the structure it provided. ‘I joined TaskRabbit in 2021 and have completed nearly 1,200 tasks at around $47 per … Read more
The Social Security Administration (SSA) has warned that funding shortfalls could lead to service delays for millions of recipients, as critical staffing levels face significant reductions. The potential loss of over 2,000 workers would come amid record-high numbers of Social Security beneficiaries relying on the agency for essential services. Staffing Crisis Looms Amid Funding Dispute … Read more
Only a few kinds of gifts have the potential to grow in value over time, and one of them is company stocks. If you plan to gift your loved ones this holiday season, offering them stocks you own can be a practical gift that could positively impact the recipients’ finances in the long run. MAI … Read more
