Personal Finance
We soon will learn what Congress and the Trump Administration have in store for Medicaid. But while the state/federal program has become a high-profile target, it is widely misunderstood. And so are the consequences of major Medicaid changes for older adults, people with disabilities, and their families. Yes, Medicaid provides medical insurance for low-income working age people and their children. But Medicaid spends more than half its budget on medical and long-term care for frail, low-income older adults and younger people with disabilities. And about one-quarter of all Medicaid benefits, more than $200 billion, goes to long-term care for about…
Bybit, a major cryptocurrency exchange based in Dubai recently announced it had been hacked, losing $1.5 billion worth of the cryptocurrency Ethereum in the largest cryptocurrency theft of all time. Putting it into perspective, the previous largest cryptocurrency theft was of $611 million worth of cryptocurrencies from the PolyNetwork platform in 2021. The crypto research group Arkham Intelligence is attributing the theft to the North Korean hacking group known as the Lazarus Group. The Lazarus Group is an infamous cybercrime group tied to the North Korean government that has been conducting cybercrimes since 2009. Among their more notable attacks was…
Banks are not fans of heavy regulation. Few companies or individuals are. Paying attention to rules takes time, effort, and money. Although sometimes unnecessary and overzealous, quite often regulation is the result of companies not operating in ways one might expect them to. In this way, it resembles lawyers’ contracts. Sometimes attorneys put in highly restrictive language because once in earlier parts of their careers there was a situation when something ridiculous or terrible happened and they’re determined that it never will again. An example was the indictment of a TD Bank employee by the Manhattan District Attorney’s office. The…
In a seemingly off-the cuff television remark, President Trump said he’d protect Medicaid from government spending cuts. Don’t count on it, especially since at nearly the same time, and after dithering for months, Trump endorsed a draft House Republican budget framework that anticipates cuts of as much as nearly $900 billion in Medicaid over the next decade. Supporters of deep Medicaid cuts have two goals: to help pay for tax cuts and to end what they say is widespread abuse by requiring recipients to work. More than 90 percent of non-disabled Medicaid recipients already work. But their pay is low,…
The idea of “putting your money to work” probably appeals to you. You want your money to do something for you, right? But what does that really mean? After looking at a few financial websites, I’ve identified three broad categories of “money working” in current use: Using money wisely Maximizing your compensation Investing I can’t argue with using money wisely or maximizing compensation, but when I hear someone talk about putting money to work, my mind turns immediately to investments. Money is a unique asset. It serves as a medium of exchange, a store of value, and a unit of…
Amazon has grown from a direct retailer to a thriving marketplace with third-party sellers now bringing in 61% of its total sales. This creates opportunities for founders like Ron Earley, CEO of Greywolfe Investing, a wholesale automation company specializing in Fulfillment by Amazon (FBA) services. Thanks in part to the FBA business model Amazon’s marketplace has seen incredible growth, with independent sellers hitting new revenue milestones garnering the attention of the next era of digital entrepreneurs and investors alike. The Breakdown You Need To Know: The platform keeps gaining momentum as third-party seller services generated $156.1 billion in 2024, according…
The Annual Percentage Rate is a fundamental concept in finance. It represents the total cost of borrowing money, expressed as a yearly percentage. Whether applying for a mortgage, credit card, personal loan, or auto loan, understanding APR is crucial for making informed financial decisions. This article explores what APR is, how it works, and strategies to secure a lower rate. What Is APR? APR provides a standardized way to compare different loan and credit offers, ensuring transparency for borrowers. Unlike simple interest rates, APR reflects the total cost of a loan, including origination fees, closing costs, and other charges. This…
A huge number of student loan borrowers may need to change their repayment plan this year, as federal courts and Congress make moves that could fundamentally reshape the federal student loan system. And many of these borrowers may experience an increase in their monthly payments as a result. The assault on the current federal student loan repayment system is happening on two fronts. Earlier this week, a federal appeals court issued a sweeping decision that signaled that the SAVE plan, as well as student loan forgiveness under two other income-driven repayment plans, are likely to get struck down. Meanwhile, congressional…
When it comes to personal finance, the hardest step isn’t opening a bank account or building a budget. It’s realizing that change is necessary in the first place. Many people find themselves stuck in a state of “unawareness” in behavioral psychology terms. They are stuck in the precontemplation stage of the Stages of Change Model, meaning they’re not even considering financial improvement yet. If you’ve ever thought, “I’m just not good with money” or “my finances are fine the way they are,” you might be in this stage without even realizing it. The good news? You don’t have to take…
Recently many people have been concerned about boycotting based on racial equality but have not thought of aligning that to their Roth IRA investments. While this article highlights Roth IRA investing this could be applied to all investing. I am only applying this values alignment idea to the pursuit of retirement, through the Roth IRAs tax deferral and tax free withdrawals benefits. This is intended to show that aligning racial equality values with retirement is not a short-term fringe investing idea, but a long-term core strategy. While companies may decide to pull back on their DEI initiatives, individual investors do…
Would You Qualify For A Trump DOGE Dividend Check? Elon Musk’s recent consideration of a $5,000 DOGE Dividend check and Trump’s support the following day have sparked interest as well as debate over its feasibility. While such a payment could significantly boost American households, distributing large-scale financial aid comes with a hefty price tag. Critics of a DOGE Dividend check have argued that it would add inflationary pressure and compete with other administration tax priorities. Many are also skeptical of Musk’s goal to find $2 trillion in actual savings. Even Musk has backtracked from the $2 trillion figure, saying in…