Personal
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The Impact of Unpaid Student Loan Debts on Retirement Savings
As per the research conducted by the Schwartz Center for Economic Policy Analysis at the New School for Social Research, it has been revealed that a significant number of individuals over the age of 55 are burdened with unpaid student loan debts, which could potentially hinder their ability to save for a secure retirement. These…
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The Impact of Declining Enrollment on Colleges and Universities
The Delaware College of Art and Design recently announced its decision to close due to low enrollment numbers for the upcoming academic year. The college cited issues with the new Free Application for Federal Student Aid (FAFSA) as a contributing factor to the decline in enrollment. President Jean Dahlgren highlighted long-standing challenges faced by the…
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Key Considerations Before Converting to a Roth IRA
In 2024, there has been a significant increase in the number of Roth individual retirement account conversions. These conversions involve transferring pretax or nondeductible individual retirement account funds to a Roth IRA, which offers the advantage of tax-free growth in the future. While this can be an appealing option for many, it’s important to consider…
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Why Delaying Social Security Benefits Makes Financial Sense
When it comes to claiming Social Security retirement benefits, the general consensus among experts is that it’s best to wait. Despite this advice, many individuals still opt to claim benefits early, either at age 62 or before reaching full retirement age. By claiming early, retirees are subject to reduced Social Security benefits for the rest…
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Maximizing Tax Benefits by Hiring Your Kids: What You Need to Know
Hiring your children as part of your self-employed business can offer various tax benefits, but it is crucial to adhere to labor laws and IRS regulations. Despite the popularity of this practice discussed on social media platforms like TikTok and Instagram, it is essential to approach it with caution and accurate information. Understanding the Tax…
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The Benefits of Paying with Cash vs. Credit Card
In today’s digital age where credit cards reign supreme, it may come as a surprise that more merchants are offering discounts to customers who choose to pay with cash. The savings can range anywhere from 2% to 4%, though sometimes even higher. While the percentage of cash transactions with a discount is still relatively low,…
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The Ongoing Battle for Economic Equality: A Look at Women’s Struggles Throughout History
Throughout history, women have faced numerous obstacles in their pursuit of economic equality. Author Josie Cox sheds light on the historical context by exploring how societies were structured in a way that disadvantaged women economically. She delves into the concept of “coverture,” a legal practice derived from English law that deprived women of an independent…
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Strategies for Managing Rising Grocery Costs
Many Americans are still feeling the pinch of high grocery prices, despite the fact that inflation is starting to decrease. During the pandemic, grocery prices soared, and they have continued to rise even post-pandemic. Shrinkflation, a trend where products come with fewer servings for the same price, has become quite common. This has left many…
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The Benefits of Opening a Retirement Account for Teenagers with Summer Jobs
Many financial experts recommend that parents help their teenage children open a retirement account if they are working summer jobs. This can be an excellent way to start saving for the future and take advantage of the benefits that come with it. Opening a Roth individual retirement account (IRA) for teenagers can be especially advantageous…
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The Future of the S&P 500 in the Current Market Environment
The S&P 500 reached yet another record close, signaling a 53% surge since the peak of inflation in 2022. Despite concerns of an impending pullback, experts at the CNBC Financial Advisor Summit remain optimistic about the future prospects of the index. Savita Subramanian, head of U.S. equity strategy at Bank of America, expressed confidence in…