The Social Security Administration recently announced a final rule that will significantly impact Supplemental Security Income (SSI) beneficiaries by preventing food assistance from reducing their monthly payments. SSI provides financial support to disabled individuals, the blind, or those age 65 and older with limited income or resources. This change is set to take effect on
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When it comes to investing in cryptocurrency like Bitcoin, it’s important to approach it with caution. Katherine Dowling, the general counsel and chief compliance officer at Bitwise Asset Management, compares investing in cryptocurrency to using cayenne pepper – a little goes a long way. This analogy highlights the volatility and risk associated with digital assets
Despite the advancements in women’s education and their increasing presence in senior leadership positions in the workforce, mothers still bear the brunt of caretaking responsibilities for their children. Research indicates that women are more likely than men to take time out of the labor force or reduce their working hours to accommodate their family duties.
The warning from Democratic lawmakers regarding the potential reduction in Social Security benefits for older adults who are behind on their student loans sheds light on the increasing financial hardships faced by this vulnerable population. The estimated annual reduction of $2,500 in Social Security benefits for borrowers in collections can have a devastating impact on
Income-Driven Repayment Plans have been a part of the student loan landscape since 1994. These plans calculate borrowers’ monthly payments based on their discretionary income, offering a lower payment alternative to standard repayment plans. The remaining debt is typically forgiven after 10, 20, or 25 years, depending on the specific plan. However, a major challenge
Breaking up in old age can be a costly affair, especially for women. The term “gray divorce” refers to divorce occurring at age 50 and older, and statistics show that the rate of gray divorce has doubled from 1990 to 2019. A study published in The Journals of Gerontology revealed that the share of Americans
In the competitive landscape of job hunting, the prevalence of so-called “ghost” jobs poses a significant challenge for many job seekers. These phantom listings, which may appear as jobs that do not actually exist or have been lingering online for an extended period, can be frustrating and disheartening for individuals looking to secure employment. The
Routines are often associated with physical fitness, good eating habits, and solid work patterns, but many experts also emphasize the significance of routines in successful investing and building wealth. The foundation of financial independence lies not just in how much is earned, but in how and when money is saved and invested. It is crucial
The ongoing issues with the new Free Application for Federal Student Aid (FAFSA) have raised concerns and accusations of negligence towards the U.S. Department of Education. Wayne Johnson, a former top student loan official, wrote a scathing letter to U.S. Secretary of Education Miguel Cardona and other senior officials, accusing them of “malicious negligence” in
The Biden administration has recently announced a significant move towards student debt forgiveness, aiming to alleviate the financial burden on thousands of borrowers. This initiative comes as part of the Public Service Loan Forgiveness program, which aims to provide relief to public service workers who have been struggling with student loans. The administration plans to