As the baby boomer generation ages, there is a significant shift in wealth underway. Liz Koehler, head of advisor engagement for BlackRock, states that baby boomers are projected to pass on over $68 trillion to their children as part of the “great wealth transfer.” However, recent reports indicate a growing disparity between the expectations of
Personal
The annual trustees’ report released by the Social Security Administration recently stated that the trust funds used to pay benefits are now expected to run out in 2035, which is one year later than previously projected. At this projected depletion date, it is anticipated that 83% of benefits will still be payable if Congress does
Rebekah Alstede Modery and Sarah Alstede, who grew up on a New Jersey farm, have decided to continue their careers on the family farm. Rebekah, who graduated in 2023 with a double major in agricultural business and sustainable agricultural production, felt a strong connection to the farm and its marketing aspects. Sarah, on the other
In a competitive job market, equity compensation has become a sought-after benefit for many employees. According to a 2023 survey from Morgan Stanley, 72% of companies offer some form of equity compensation, up from 65% in 2021. These perks can motivate employees and help them achieve their long-term financial goals. However, despite its popularity, some
The popular Public Service Loan Forgiveness program is currently undergoing a partial processing pause, which started on May 1 and is expected to last through July. This pause is part of the Biden administration’s efforts to revamp the federal student loan program, which has faced numerous challenges since its inception in 2007. Signed into law
Recent news from the U.S. Department of Education has revealed that some federal student loan borrowers who have been working with Mohela will soon be transferred to different servicers. This transition, which began this week, will impact more than 1 million borrowers who will now have a new company managing their loans and assisting them.
The recent decision by the Federal Reserve to leave interest rates unchanged has created a ripple effect in the market, impacting consumers in various ways. The move has dashed hopes of immediate relief from sky-high borrowing costs, as inflation continues to prove stickier than expected. The market’s expectation of multiple rate cuts has now been
The Biden administration recently announced a monumental decision to forgive over $6.1 billion in student debt for more than 300,000 former students of The Art Institutes. This move comes after a thorough review of evidence provided by the attorneys general of Iowa, Massachusetts, and Pennsylvania, which highlighted the deceptive practices carried out by the schools
With the recent rise in inflation, it seems that higher interest rates are here to stay for the foreseeable future. This development may have a significant impact on individuals looking to earn returns on their cash savings. According to Greg McBride, chief financial analyst at Bankrate, the current environment offers some of the best opportunities
The U.S. Department of the Treasury recently announced that Series I bonds will offer a 4.28% annual interest rate from May 1 through October 2024. This rate is linked to inflation and represents a decrease from the 5.27% annual rate offered since November. Current owners of I bonds will also see their rates adjust based