When it comes to personal finance, there’s no end to the emphasis on how important it is to save. I’m part of that choir myself! You probably already know all the financial fundamentals for success, because they are repeated everywhere: Build an emergency fund. Set money aside for big goals. Keep cash on hand. But have you ever wondered if there’s a point at which you actually have too much cash on hand? If so, you’re asking a good and valid question, because the answer is yes. Yes, you can have too much of a good thing, and there’s a…

Social Security Fraud Prevention Could Effectively Deny (Or At Least Delay) Benefits To Millions A leaked Social Security Administration memo has unveiled a Trump administration plan that could upend the benefits system for millions of Americans. Obtained by investigative outlet Popular Information and corroborated by reports in The Washington Post and Axios, the internal memo outlines proposed changes that “would debilitate the agency, cause significant processing delays, and prevent many Americans from applying for or receiving benefits.”​ The document, dated March 13 and signed by Acting Deputy SSA commissioner Doris Diaz, is positioned as aiming to combat fraud within the…

Student loan borrowers are going on offense. On Tuesday, the American Federation of Teachers, a major national labor union, represented by the Student Borrower Protection Center and Berger Montague, filed a lawsuit against the Trump administration for preventing millions of borrowers from accessing affordable repayment plans and student loan forgiveness programs authorized by federal law. The lawsuit comes as the federal student loan repayment system is in turmoil. Millions of borrowers have been stuck in a forbearance for months due to a legal challenge associated with the SAVE plan, an income-driven repayment program launched by the Biden administration two years…

Permanent Fund Dividend Functions As An Alaska Stimulus Check Alaska’s Permanent Fund Dividend is often regarded as a yearly Alaska stimulus check for residents, injecting cash directly into households and the state economy. In 2024, the program marked its 43rd year of payouts, and state officials highlighted its significance: “The 2024 PFD will create an economic opportunity across all of our local communities,” noted the Peninsula Clarion, an Alaskan news publication. Even a relatively modest PFD can profoundly affect Alaskans’ finances. For example, even this year’s small dividend equates to more than $4,000 for a family of five and “makes…

As food prices keep rising, Americans are adjusting how they cook, shop, and dine. Food at a Price is an ongoing series exploring how inflation is shaping home cooking habits, grocery trends, and restaurant spending. Food is more than just a meal—it’s a reflection of how people are adapting to uncertain times. With rising costs and shifting spending habits, home cooking has become more than a choice; it’s a strategy. What we eat and how we prepare it tell a bigger story about resilience, resourcefulness, and changing consumer priorities. The Economic Backdrop—Why People Are Changing the Way They Eat With…

I love helping my clients maximize their tax-free retirement income streams. Converting a traditional IRA account to a Roth IRA is a fabulous part of a proactive tax-planning strategy to reduce the tax drag on your retirement income. However, many people forget about state taxes when developing the optimal Roth conversion strategy for their personal financial and tax-minimization needs. Most people focus on federal tax rates when choosing how large a Roth conversion to do each year. Ignoring state taxes could leave you without enough cash on hand to pay the taxes due on the Roth conversion. It could cause…

Investors as well as those interested in the impact of economics on the country and world — a large statistical universe — often look for data. The current artificial intelligence hype and inclusion of such capabilities into software, computer operating systems, and web browsers would seem welcome effort-saving additions. However, there is a problem: bad AI information. Here are three simple examples of how relying on the accuracy of what is handed to you can lead you to incorporate errors, whether tiny or significant, into your work, deliberations, and decisions. But first, some background. Not All AI Is The Same…

Most investors seek to avoid downturns in the financial markets. Unfortunately, volatility is an unavoidable part of being a long-term investor. The best time to plan for any type of volatility or financial crisis is in advance. But, even down markets and short-lived selloffs can present financial planning and investment opportunities. Here are three money moves to consider when the stock market is down. Put Extra Cash To Work With few exceptions, keeping excessive amounts of cash hurts your ability to build wealth. Even in periods of higher interest rates, the real return on cash after taxes and inflation can…

Will the Trump Administration push more beneficiaries into Medicare Advantage managed care plans? Will the Administration limit payments to the insurance companies that run those plans? Will it do both? Whatever Trump does, the consequences will be significant for older adults and younger people with disabilities who rely on Medicare for their health care. Done well, an overhaul of MA could help plans improve quality of care, operate more cost-effectively, and do a better job coordinating medical and personal care for their members. Done poorly, Trump could force older adults and younger people with disabilities into plans that increasingly cut…

Social Security Administration Eyes Cutting Off Payments For Thousands Social Security Administration officials are considering a policy that could effectively strip benefits from thousands of people. “A proposal to ban payments to people without Social Security numbers is circulating at the Social Security Administration,” reports Government Executive, noting it “could affect thousands of beneficiaries receiving retirement, disability, and low-income benefits.”​ At issue is a little-known practice: SSA sometimes allows an individual without an SSN to serve as a representative payee to manage benefit checks on behalf of someone eligible. The agency can make someone a representative payee even if they…