The looming crisis of Social Security’s dwindling funds is becoming an increasingly pressing issue. The combined trust funds are projected to last only until 2035, after which 83% of benefits may be payable, according to the program’s trustees. The fund specifically designated for retirement benefits is expected to run out even sooner, in 2033, at
Personal
In recent years, there has been a noticeable decline in workplace engagement among employees. According to a 2023 Gallup poll, only one-third of full- and part-time employees are actively engaged in their work and workplace. This shift is reflected in the phenomenon of “quiet quitting” where employees are coasting and doing the bare minimum to
The Social Security Administration is making changes to its online services, requiring users who created their “my Social Security” account before Sept. 18, 2021, to transition to a Login.gov account. This update is crucial to ensure continued access to online Social Security services, including requesting card replacements, estimating benefits, checking application statuses, and managing current
Rentvesting is a growing trend in the real estate market that involves renting a primary residence in one city while investing in a property in another city for rental income. This allows individuals to enter the property market even when home prices in their own location are out of reach. However, the process can be
The Biden administration has been facing numerous legal challenges when it comes to implementing student loan forgiveness programs. From the Supreme Court’s rejection of the wide-scale forgiveness to the recent suspension of the Saving on a Valuable Education plan (SAVE) due to lawsuits filed by Republican-led states, the road to debt relief has been rocky.
The U.S. economy has experienced a significant slowdown in inflation since its peak two years ago. In fact, some consumer prices are now beginning to deflate, signaling a shift in economic dynamics. Deflation, the decrease in prices for consumer goods or services, is the opposite of inflation, which measures the rate at which prices are
The U.S. Department of the Treasury and the IRS have recently achieved a significant milestone by collecting over $1 billion in tax debt from high-income individuals. This accomplishment comes after the IRS announced plans to expand its scrutiny of those making over $1 million annually with more than $250,000 in recognized tax debt. Treasury Secretary
Medical debt has been a significant concern for many Americans, with unpaid balances posing a financial burden on individuals and families. According to new research by the Urban Institute, the share of people with medical debt in collections that appears on their credit reports has decreased over the past decade. In 2013, 19.5% of Americans
The upcoming presidential election between President Joe Biden and former President Donald Trump has left many investors feeling anxious about the potential impact on their finances. A survey conducted by investment company Betterment revealed that 57% of investors are feeling nervous about the election, with 40% expecting to make investment decisions based on the outcome.
President Joe Biden’s push for widespread student loan forgiveness has taken center stage in the political arena as the election draws near. The potential forgiveness of debt for millions of federal student loan borrowers could have a significant impact on voter sentiment and opinions. The timing of the final rule on student loan relief, set