In the past year, there has been a significant surge in employment scams that target unsuspecting job seekers. Criminals are now leveraging artificial intelligence to carry out their schemes, resulting in a 118% increase in consumer reports of job scams in 2023 compared to the previous year. These scammers often pose as recruiters and post
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Planning a wedding can be an exciting but financially daunting task. The guest list is one area where you can have the most significant impact on your budget. Even if you don’t opt for a micro-wedding with less than 25 guests, cutting down the guest list can still lead to substantial savings. By being selective
The landscape of investing is constantly evolving, especially for young, wealthy investors. According to recent research conducted by Bank of America, individuals between the ages of 21 and 43 with at least $3 million in investable assets are gravitating towards alternative investments. Unlike their older counterparts, who tend to favor traditional stocks and bonds, nearly
The issue of tax identity theft cases at the IRS is becoming increasingly critical, with a staggering number of unresolved cases stacking up. According to National Taxpayer Advocate Erin Collins, as of April, there were approximately 500,000 pending identity theft cases, representing a worrying increase from the previous figure of 484,000 cases in September. One
When we think about going on vacation, we often envision relaxation, enjoyment, and quality time with loved ones. However, the rise of social media has significantly altered the way we approach travel. Instead of focusing on the experience itself, many travelers find themselves caught up in capturing the perfect photo for their Instagram feed. This
The movie “Thelma” portrays the story of a 93-year-old Thelma Post who falls victim to a fraudulent call from a scammer pretending to be her grandson in desperate need of money. While this story was fictionalized for Hollywood, the threat of such scam calls, also known as grandparents’ scams or family emergency scams, is unfortunately
Romance scams are on the rise, with cybercriminals preying on individuals’ emotions to gain access to their wealth accounts. These scams involve building a relationship with the victim, often over social media platforms, and manipulating their emotions to the point where the victim willingly provides access to their accounts or transfers money to the criminal.
Many retirees overlook the impact of taxes on their retirement savings until it’s time to start withdrawing funds from their pretax accounts. However, financial experts warn that failing to consider tax implications can result in a significant financial setback. According to a study by Northwestern Mutual, only 3 in 10 Americans have a plan in
As interest rates have risen to combat inflation, the opportunity to earn up to 5% annual returns on savings accounts and other low-risk investments has become more attractive. However, some experts are cautioning investors against becoming too comfortable with these safe returns and missing out on the potential for higher returns in the market. Callie
Individual retirement accounts have been steadily growing over the years, causing potential tax issues for retirees and their beneficiaries. According to the Employee Benefit Research Institute, the median IRA or self-employed Keogh balance has increased to $87,000 in 2022, up from $81,144 in 2019. Additionally, a report from Fidelity found that the average IRA balance
