In an early August Bloomberg Law report, it was discovered that ultra-sensitive and personal information of nearly three billion people was leaked in an April 2024 data breach. A cybercriminal group called “USDoD” exposed a database owned by National Public Data, a background check company, on the dark web. Some of the exposed information includes […]
Did you know there are several ways you could lose your Social Security benefits? Millions of retirees count on Social Security as their main source of income, so it’s important to know what can cause you to lose some or all of your benefits. This year, almost 68 million people will receive a Social Security […]
The majority of millennials and Gen Zers worry that the U.S.’s Social Security program may run out of funding in their lifetimes. And around 40% think they “won’t get a dime” of Social Security benefits, according to recent data from the Nationwide Retirement Institute. You may have seen reports that the trust funds the Social Security Administration […]
The Social Security Administration (SSA) has come under scrutiny for its continued failure to address improper payments, according to a recent report from its own watchdog. The SSA’s Office of the Inspector General (OIG) has criticized the agency for failing to implement key recommendations aimed at reducing the billions of dollars in improper payments that have been made in […]
The final bank holiday of the summer is tantalisingly close for most of the UK, and along with it, another opportunity to spend a few hours on the financial jobs that can have a huge impact on your bank balance. You’re not going to want to spend the entire day knee-deep in paperwork, so here […]
It’s an old fashioned budgeting method that’s gaining new popularity on TikTok. “Cash Stuffing” or the “Envelope System” has been around for years. Now, a younger generation is embracing it because it’s easy and effective, according to money experts. “It’s a simple process,” said Jeff Massey of Massey & Associates. “Put an envelope for each […]
Americans will see a $500 monthly cut to their Social Security payments by 2033 if nothing changes in the system’s financial condition. Analysts have long been predicting that the Social Security system will become insolvent by the mid-2030s. This means that the social safety net program would be forced to start sending out significantly lower […]
Savings is a vital tool to provide a household with a great deal more security than it would have otherwise. Without a healthy savings account, you can be pressured into doing work that you’re not super thrilled about, or having to accept positions that aren’t really ideal for you because they happen to pay better […]
West Virginia has been named as the cheapest state for retirement for the second year in a row. That is according to an annual retirement report from Bankrate. The report ranks each state according to affordability, healthcare quality, weather and the well-being of its residents. The small state of West Virginia, situated in the tree-covered […]
A Social Security payment worth $1,918 on average goes out in days. Some retirees will cash a new check or get a new direct deposit from the Administration shortly. Do not forget that you must meet all the conditions to qualify. For example, the birthday requirement will be essential. If your birthday is from the 11th to the 20th, you will receive a […]
Yanely Espinal was teaching a workshop on financial education this summer when a member of the building’s cleaning staff came up to her. “I wanted to talk to you,” he said. “When I first got my job, the [company] offered me a retirement plan. But my cousin told me it was a scam, so I […]
You might feel rich or poor, but most Americans fall within the mainstream. Certain money-related behaviors and characteristics apply to the majority. The financial middle class remains the country’s backbone. Many of the financial aspirations and tendencies of this broad group haven’t changed much in recent decades and possibly won’t. You might even call them […]
