As many Americans approach retirement age, the question of financial stability becomes increasingly important. However, recent research from the Schwartz Center for Economic Policy Analysis sheds light on a concerning trend – unpaid student loans are placing millions of older individuals at risk of financial insecurity post-retirement. The study delves into the financial situations of
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The Delaware College of Art and Design recently made the difficult decision to close its doors due to low enrollment numbers for the upcoming school year. This closure was attributed in part to issues with the new Free Application for Federal Student Aid (FAFSA). The college’s president, Jean Dahlgren, acknowledged the long-standing challenges faced by
When it comes to claiming Social Security retirement benefits, experts agree that it’s generally best to delay claiming. This means waiting until full retirement age, which is typically between age 66 and 67, or even longer until age 70 to receive the highest benefit amount. Despite this advice, many individuals still choose to claim early
Roth individual retirement account conversions have seen a significant increase in 2024, with a 44% year-over-year rise in the number of conversions during the first quarter, according to data from Fidelity Investments. A Roth conversion involves transferring pretax or nondeductible individual retirement account funds to a Roth IRA, which offers tax-free growth in the future.
In today’s society, buy now, pay later programs are becoming increasingly popular among consumers struggling to make ends meet amidst rising debt levels. According to the Federal Reserve Bank of New York, Americans collectively owe $17.5 trillion in various forms of debt, with credit card debt alone amounting to $1.12 trillion. Buy now, pay later
The gender pay gap is a pervasive issue that affects women across various racial and ethnic backgrounds. While March 12 marks equal pay day for women in general, signifying how far into the new year they have to work to match their male counterparts’ earnings from the previous year, the situation is even more dire
In the age of social media influencers, the idea of small businesses hiring their own children for tax benefits has become a popular topic. However, tax professionals warn that many of these posts contain misinformation and lack the necessary nuance to fully understand the rules and regulations surrounding this practice. While there may be a
Many merchants are now offering discounts to customers who choose to pay with cash rather than credit cards. These discounts typically range from 2% to 4%, with some even higher. While the percentage of cash payments with discounts is still low, it has been steadily increasing over the years. In fact, data from the Federal
Women have historically faced numerous challenges in attaining economic equality, as highlighted by author Josie Cox in her book “Women Money Power: The Rise and Fall of Economic Equality.” The Women’s Business Ownership Act, passed as recently as 1988, allowed women to obtain business financing without a male co-signer. Even before that, women were not
The issue of high inflation is slowly subsiding across the country, but many Americans are still feeling the pinch when it comes to the prices at the grocery store. According to Senator Elizabeth Warren, grocery prices experienced a significant increase during the pandemic, and even after the pandemic has ended, these prices have continued to