The U.S. has experienced an unprecedented wealth boom. Yet, few Americans — including millionaires— feel confident about their financial standing. Only 12% of Americans consider themselves wealthy, according to a new report by Edelman Financial Engines. Despite their high net worth, just 33% of millionaires said the same, the report found. Edelman Financial Engines polled more than … Read more
Cavan Images | Cavan | Getty Images House lawmakers in Washington have the signatures they need to force a vote on a bill to eliminate rules that reduce Social Security benefits for certain retirees who also receive pension income. On Thursday morning, Reps. Abigail Spanberger, D-Va., and Garret Graves, R-La., marked the 206 signatures a … Read more
Patchareeporn Sakoolchai | Moment | Getty Images Social Security beneficiaries have seen higher cost-of-living adjustments in recent years, prompted by record high inflation. Yet next year’s increase may not be as generous. Based on new government inflation data, beneficiaries may see just a 2.5% increase to benefits in 2025, estimates Mary Johnson, an independent Social … Read more
Ascentxmedia | E+ | Getty Images With the Federal Reserve poised to start cutting interest rates, experts are divided on what’s ahead for the U.S. economy. While some worry the economy could be in for a broad decline, or recession, others hope the central bank can effectively avoid a downturn and execute a “soft landing.” … Read more
In 2021, I was 36 years old, and I had a big year. Thanks to the income streams that grew from my blog and podcast, I started making enough passive income to quit my 9-to-5. This financial freedom made me start to think about what other goals I wanted to achieve, starting with what I … Read more
Morsa Images | Digitalvision | Getty Images Retirees who are worried about the high costs of prescription drugs are set to get new relief starting in 2025. Starting in January, Medicare drug plan enrollees will have their annual out-of-pocket drug costs capped at $2,000. Between 2025 and 2029, on average, about 1.4 million participants in … Read more
So far, 2024 has been a huge year for data breaches. There had already been more than 1 billion personal records compromised before the National Public Data breach that has been making headlines, according to Michael Bruemmer, head of global data breach resolution at consumer credit reporting company Experian. National Public Data, a background check … Read more
Glowimages | Getty Images You may have never heard of National Public Data, yet your personal information may have been compromised in the company’s recent massive data breach. The background check company, which is owned by Jerico Pictures Inc., recently released details of the breach after a proposed class action lawsuit alleged 2.9 billion personal … Read more
Minnesota Governor and 2024 Democratic vice presidential candidate Tim Walz at the first day of the Democratic National Convention in Chicago on Aug. 19, 2024. Charly Triballeau | AFP | Getty Images Minnesota Gov. Tim Walz accepted the Democratic vice presidential nomination at the Democratic National Convention on Wednesday night. In his speech, Walz credited … Read more
JGI/Jamie Grill | Blend Images | Getty Images How people would handle a surprise $400 expense The Federal Reserve has found 13% of all adults would have been unable to pay for an unexpected $400 expense in 2023. Yet, JPMorgan Chase Institute finds the share of individuals who are unable to cover such an expense … Read more
