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Finance

How young troops could be getting hosed on their military education benefits | Air Force Times

Lawmakers are considering overhauling the Montgomery GI Bill program amid concerns from advocates that most new service members are paying into the education benefit despite no real value to them “(The Montgomery GI Bill) is now little more than a superfluous tax on troops,” Will Hubbard, chief of staff of Student Veterans of America, told lawmakers during a congressional hearing ... Read More »

Identity thieves set their sights on kids | CNBC

For identity thieves, kids are the perfect mark. While adults make prime targets for their account balances, a child’s information, particularly their Social Security number, has even more value to scammers because it is a “clean slate” for opening new lines of credit before someone catches on, according to the Identity Theft Resource Center. More than 1 million children were ... Read More »

On Average, Retirees Are More Financially Secure Than Ever. Unfortunately, Most Of Us Are Not Average | Forbes

On average, older Americans have a more secure retirement than ever. But even as aggregate retirement savings are rising, tens of millions of older adults will be unable to pay their expenses, especially their medical and long-term care costs. The lesson: It is all about the distribution of savings, not overall savings. Looking just at averages will fool you, and ... Read More »

These Pension Plans are at Risk of Going Broke. Now Lawmakers Need to Agree on a Fix. | CNBC

About 1.3 million Americans could have their retirement funds at risk if Congress can’t come up with the money to pay the benefits people were promised. That is because a number of multiemployer pension plans are on the brink of running out of money. This week, Congress took a stab at solving the problem with the markup of the Rehabilitation ... Read More »

Why We Keep Making the Same Money Mistakes | US News

IN THEORY, money management should be easy. Finance experts like Dave Ramsey and Mary Hunt say it boils down to spending less than you earn and saving enough for retirement and a rainy day. But in practice, people struggle to master managing their finances. As of December 2017, Americans collectively owed $13.15 trillion in debt, including $3.8 trillion in non-housing ... Read More »

Are You Rich? How the Wealthy Are Defined | US News

HOW MUCH MONEY DO YOU need to be rich? According to a 2019 Modern Wealth Survey from Charles Schwab, Americans reported needing an average of $2.3 million in personal net worth to be identified as wealthy. The survey results don’t surprise Nick Giacoumakis, president and founder of New England Investment & Retirement Group Inc. in North Andover, Massachusetts. However, he ... Read More »

7 tips on how to save money after a pay day | Legit

Have you ever found yourself asking, ‘how come I am broke before the end of the month?’ The reason is that most people invest their money in things they don’t really need. Many salary earners consider a good job an opportunity to save more of their salary and, in the end, come to an improved lifestyle. Unfortunately, the truth is ... Read More »