In the past year, there has been a significant surge in employment scams, with criminals utilizing advanced techniques such as artificial intelligence to target unsuspecting job seekers. Reports of job scams increased by 118% in 2023 compared to the previous year, as per the Identity Theft Resource Center. These scammers often pose as recruiters and
Personal
In a world where big, extravagant weddings have been the norm for decades, more and more couples are opting for a different route. Vanessa Acosta and Sam Roberts found themselves in a situation where they had to reconsider their dream wedding plans. After a series of family events, they came to the realization that they
The investment preferences of young, wealthy individuals between the ages of 21 and 43 are diverging significantly from those of their older counterparts, according to recent research conducted by Bank of America. Rather than adhering to the traditional mix of stocks and bonds favored by older investors, nearly one-third of the portfolios of younger wealthy
The IRS is currently facing a significant challenge with an increasing number of tax identity theft cases. According to a report by National Taxpayer Advocate Erin Collins, there are about 500,000 unresolved cases of identity theft as of April. This number has seen a rise from 484,000 cases in September, indicating a growing backlog of
Vacations used to be a time for relaxation, unwinding, and creating memories with loved ones. However, in today’s digital age, the landscape of vacations has shifted dramatically. Social media has played a significant role in changing the way we approach and experience travel. What was once a personal and intimate escape has now become a
The rise of technology has brought with it a new wave of scams and fraud, particularly in the form of AI voice scams and imposter fraud. These scams are becoming increasingly sophisticated, preying on individuals’ emotions and vulnerabilities. It is crucial to be aware of these threats and take proactive steps to protect yourself and
Cybercriminals have found a new way to exploit vulnerable individuals by targeting their emotions through so-called romance scams. These scams involve building a fake relationship and trust with the victim, ultimately leading them to willingly provide access to their accounts or transfer money to the criminal. According to Tracy Kitten, the director of fraud and
It is a common mistake for retirees to overlook the impact of taxes on their retirement savings until they are ready to withdraw funds from their pretax accounts. According to a Northwestern Mutual study, only 3 in 10 Americans have a plan in place to reduce taxes on their retirement savings. One way to minimize
The growth of individual retirement accounts has been on the rise in recent years. According to a report from the Employee Benefit Research Institute, the median IRA balance was $87,000 in 2022, up from $81,144 in 2019. This increase in balances can potentially cause tax issues for retirees and their children who inherit the assets.
In the current economic landscape, investors have been enticed by the prospect of earning high returns on their cash investments. With interest rates on savings accounts and other low-risk vehicles offering up to 5% annual percentage yields, it’s no wonder that many individuals have flocked to these safe havens. However, some experts are cautioning against