Recent college graduates aren't the only ones carrying student loan debt. A significant number of older Americans have student debt, too. In fact, student loan debt is the second-highest consumer debt category after mortgage debt. In total, outstanding student loan debt in the United States now stands at approximately $1.5 trillion, with the age 30 to 39 group carrying the highest load. Source: New York Fed Consumer Credit Panel/Equifax (Q3 2019 … [Read more...]
How Long Should You Keep Financial Records?
Once tax season is over, you may want to file your most recent records and discard older records to make room for the new ones. According to the IRS, personal tax records should be kept for three years after filing your return or two years after the taxes were paid, whichever is later.* (Different rules apply to business taxes.) It might be helpful to keep your actual tax returns, W-2 forms, and other income statements until you begin receiving Social Security benefits. The rules for tax … [Read more...]
Social Security May Offer a Lifetime of Protection
Social Security is much more than a retirement program. Most Americans are protected by the Old-Age, Survivors, and Disability Insurance (OASDI) program — the official name of Social Security — from birth through old age. Here are four times in your life when Social Security might matter to you or the people you care about. A Wide Safety Net Current Social Security beneficiaries Source: Social Security Administration, 2019 When You Start Your … [Read more...]
Tax Refund: Spend or Save
About 72% of taxpayers received a refund in 2018 and 2019. Here's how consumers spent the tax refunds they received in 2018 and what they planned to do with their 2019 refunds. Sources: Internal Revenue Service, 2019; National Retail Federation, 2019 (multiple responses allowed) IMPORTANT DISCLOSURES ERB FINANCIAL is an independent contractor who offers Investment Advisory Services & Securities through Excel Securities & Assoc., Inc. … [Read more...]
State Population: Winners and Losers
The U.S. population was 328,239,523 in 2019, an increase of 0.5% over 2018. This was the fourth consecutive year of slowing population growth due to fewer births, more deaths, and lower immigration from other countries. Forty states and the District of Columbia gained population, while 10 states lost population. Here are the winners and losers based on percentage increase or decrease in population. Source: U.S. Census Bureau, 2019 IMPORTANT … [Read more...]
Equifax Data Breach
If you were affected by the 2017 Equifax data breach you are potentially eligible for a monetary claim or credit monitoring service. The U.S. Federal Trade Commission warns everyone to be aware of scams & fake settlement websites and adds that you’ll never have to pay to file a claim for these benefits. And anyone who calls and tries to get you to file a claim is almost certainly a scammer. At this link – https://eligibility.equifaxbreachsettlement.com/en/eligibility – you can check … [Read more...]
College Financial Aid Planning
Individuals who want to attend College but cannot afford the costs outright must find alternative funding through various types of financial aid. Many factors affect eligibility for federal financial aid; therefore, all students should apply for financial aid every year even if they think they do not otherwise qualify. Read More... College Financial Aid Planning … [Read more...]
Managing Your Money in a Gig Economy
“As a contingent worker, you may be eligible for a number of tax deductions (e.g., start-up expenses, mileage), so be sure to keep good records. If you have multiple gig jobs, consider using a log to keep track of your income and work expenses.” According to the Bureau of Labor Statistics, 16.5 million people rely on contingent or alternative work arrangements for their income.1 Often referred to as the "gig economy," these nontraditional or contingent work arrangements include independent … [Read more...]
How to Recover from a Mid-Life Financial Crisis
“Only 48% of workers ages 45 to 54 are confident that they will have enough money to last throughout their retirement.” Source: 2018 Retirement Confidence Survey, Employee Benefit Research Institute A financial crisis can be scary at any age, but this is especially true when you're in your 40s or 50s. Perhaps you're way behind on saving for retirement or have too much debt from unnecessary spending. Or maybe an unexpected challenge, such as a job loss, illness, or break from the … [Read more...]
How much does child care really cost?
Typical child-care fees vary widely by state, as do other living costs. But in all regions, the average annual cost of center-based care for one infant now exceeds the average amount of money families spend on food and transportation combined. Child-care costs for two children exceed the median cost of housing for homeowners with a mortgage in 35 states and the District of Columbia. IMPORTANT DISCLOSURES ERB FINANCIAL is an independent contractor who offers Investment Advisory … [Read more...]
- « Previous Page
- 1
- …
- 4
- 5
- 6
- 7
- 8
- Next Page »
