Sorted by date Results 1 - 25 of 44
There is some good news in the fight against heart disease. In the last decade, cardiovascular disease (CVD) is down almost 30 percent. Through intense efforts at educating the public, agencies like the American Heart Association with programs like Go Red for Women, have made great strides in spreading the word. Studies show that this education is effective in actually reducing the incidence of heart disease. Even so, certain segments of the population are not getting the message. Heart disease remains an enormous problem for women in general,...
One great result of the Tax Cuts and Jobs Act is that most people see money in their paychecks, because less is being withheld. Our standard deductions have nearly doubled, and the tax rates have dipped. Those are good things. But the personal and dependent exemptions have been eliminated. For myself, I saw my paycheck jump $50 every two weeks. I get 26 paychecks a year, so that equates to an extra $1,300 without me lifting a finger. I love that, but because other changes in the new law will also have an effect, I wanted to make sure I was...
If you receive Social Security and/or Medicare, make sure you inform the Social Security Administration (SSA) when you move. That’s especially important now while the SSA is mailing out new Medicare cards. Even though the Internet is a virtual playground for scam artists, snail mail is still vulnerable to thieves. They’ve been known to file a change of address notice with the local U.S. Post Office, to snag your personal information, checks, and to keep you from finding out that they’ve opened accounts in your name. It’s not as easy as it used...
A good education is getting harder to come by, and that’s true not just for college but starting in kindergarten. If you are looking to help ensure your grandkids get a quality education, you might consider opening a 529 plan. If protecting your income from the estate tax is another goal, a 529 plan can help accomplish both. And with the new tax bill, The Tax Cuts and Jobs Act (TCJA), the rules for 529 plans just got easier. Not only can you use the plans to pay for college costs, but you can generally make tax-free withdrawals of up to $10,000...
Delving into our family history has become a big pastime for many Americans. TV is full of ads about finding long lost relatives, discovering connections you didn’t know about, and even testing your DNA. So of course, this trend caught the attention of thieves who tap into any interest they can weasel into. A few years ago, scammers were busted, using well-known genealogy sites as a way to glean details they could use to steal identities – of the living and the dead. Now, they’re working on a newer (but not new) set of schemes. Who’s your gr...
Last year’s holiday shopping season brought about 57 percent of shoppers to their computers and smartphones to find deals. The convenience and cost savings of shopping online are enticing to us… and irresistible to the criminals who see this as their heyday. More shoppers looking to avoid the crowds means more opportunity for thieves. That’s why Consumer Reports provided some steps to enhance the security of your online shopping. Here’s what they say, based on advice from Raymond Pucci, of the Mercator Advisory Group consulting firm. Find ou...
For now, Social Security is in the black. In 2016 the Social Security Administration (SSA) took in income of $957 billion, which includes interest income. During the same year, it had total expenditures of $922 billion, adding $35 billion to its asset reserves. The reserves together with new income that is projected, should be enough to cover SSA’s costs for another 10 years. But unless something changes, by 2022 the expenditures will start to outpace the income, gradually gobbling up the reserves. Who’s collecting Social Security benefits now?...
It used to be a rare thing to meet someone who worked from home and actually made a decent income. Some people say they could never do it. They’re not self-starters. They can’t deal with the distractions. They’d feel like they were always at work. Then there are people who work from home, for an employer or for themselves, and never want to “go to work” again. Who actually works at home? In 2015, only about 3 percent of workers, or 4 million people, worked from home. As millennials swarm the workforce and always talk about work-life balance,...
If you haven’t seen the movie “The Intern,” starring Robert DeNiro and Anne Hathaway, you should. It’s funny, and it’s a perfect example of the difference in how generations work – the pitfalls and the saving graces. Retired, recently widowed, and bored, he applies for an internship which would generally be filled by a 20-something tech-savvy kid. He’s hired, and goes to work for a much younger boss, played by Hathaway, and that’s when two business worlds collide. You’ll enjoy the movie, but if you’re working for a much younger boss in rea...
You may think student loan debt is mostly for kids. But, think again. Kids are graduating from high school right about now, and looking toward college. And that might mean they’re looking to Grandma and Grandpa for help paying the bills, either with gifts of money, or as cosigners on student loans. But should you consider cosigning? A lot of parents and grandparents do cosign. Between 2005 and 2015, consumers age 60 and up became the fastest growing group of student loan borrowers. For some of those borrowers, they are still carrying debt f...
Suppose a debt collector sues you and wins a judgment. It may get a court order to garnish money from your account or benefits received by prepaid card. But the U.S. Department of Treasury requires banks to automatically protect certain federal benefits, IF that money gets deposited directly into your account. Banks must protect two months’ worth of benefits. So, let’s say you normally get $1,000 per month. Your bank must protect $2,000 of that money, but if you have more than that on deposit, it may be garnished or frozen. Important note: If y...
Anyone who’s seen what I consider the best movie ever made – “It’s a Wonderful Life” – will remember the bank run that nearly put the town of Bedford Falls six feet under. Quick thinking kept that from happening in Bedford Falls, but during that time in history, bank runs took a serious toll on towns across America. From 1930 to 1933, nearly 10,000 banks failed or were suspended. That’s why, in 1933, the Federal Deposit Insurance Corporation (FDIC) was created. According to the FDIC website, consumers haven’t lost “even one penny” of FDIC-in...
Like most professions, financial advisors come in all varieties from great to self-serving and greedy. Before you trust your financial future to someone, make sure you’ve got a good one. White-collar prisons are full of people, male and female, each of whom appeared respectable and trustworthy, while bilking clients out of their savings. Many worked far harder to create a façade of success than they ever did to actually succeed at investing client money. That’s why it can be difficult even for sophisticated investors to detect the fraud at t...
If you’re a taxpayer who rushes to file early, don’t get in too much of a hurry. The tax filing season will begin on January 23, 2017, says the IRS, and the tax agency will begin accepting electronic returns on that day. But taxpayers who are expecting refunds through tax credits will need to wait longer than usual. More than 153 million returns are expected, about 80 percent of which will be sent electronically. A new law requires the IRS to hold refunds that involve the Earned Income Credit or the Additional Child Tax Credit until Feb...
Every day across the country more than 4,800 home burglaries occur, mostly in daylight hours, and in one out of three of those break-ins, a family member is home. The U.S. Justice Department says in about 7 percent of cases, violent crime is involved, and in less than 14 percent of burglaries, arrests are made (according 2014 statistics). And even when an arrest is made, chances are, the victims don’t get their stolen property back. What can you do? Two separate groups of researchers asked inmates serving time for home burglaries how they c...
Last year prices for Medicare held fairly steady, and of course, there was zero increase in your Social Security check. This year, the cost-of-living raise is tiny, at .03 percent (about $3 if your monthly benefit is $1,000). In fact, Part B premiums rose more than the COLA. Here’s a summary of the figures that have been released so far. Part A premiums (hospital, nursing, hospice, home health) According to Medicare.gov, most people get Part A coverage free of cost. However if you buy it, the monthly cost in 2017 will be $413 per month (up from...
It’s not a very holiday-like subject, but if you seldom see your older relatives except at Thanksgiving and Christmas, it’s an important time to be alert for signs of elder abuse. Not that you should necessarily talk about it, but keep your eyes open for obvious and for subtle signs of problems. For example, does Uncle Edward have bruises on his arms he can’t explain? It’s often true that seniors bruise easily, but it doesn’t hurt to ask him about it. Does he seem nervous about answering? If so, do what you can to get to the bottom of it. Th...
Feeling squeezed by adult kids living with you? Or, maybe you’re okay with it. One thing is certain, you’re not the only ones in your situation. Living with Mom and Dad is now the most common living arrangement for young adults, according to the not-for-profit Pew Research Center. Remember when you were in high school and couldn’t wait to get out on your own? Maybe you planned to go to college and live in a dorm or get some roommates and have your own space? These days, the number of young people (age 18 to 34) who live with their paren...
There’s no shortage of commercials urging you to buy gold and silver and other precious metals. The idea is that it’s a smart way to diversify your portfolio and protect your retirement funds. But of course everyone’s situation is different. Before you sink money into any new investment product, talk it over with your accountant or financial advisor. It’s a good idea to talk with an advisor who has specific knowledge about this type of investment but who is not also trying to sell it to you. If you decide to buy, the Federal Trade Commiss...
Have you reached the donut hole in Medicare coverage? If so then you know, it begins when you and your drug plan have spent a total of $3,310 on your medications. Then, you have to pay a higher share of medication costs till you reach the other side of the donut hole. Ouch. If you haven’t yet reached that point, there are ways Medicare advises people to slow their descent into the donut hole by keeping overall costs lower. • Ask your doctor to prescribe generic drugs if they are appropriate in your situation. • Find out if your local pharm...
The good news is, overall, we’re living longer. But the bad news is, many of us will live longer but only with the assistance of a nursing home or at a minimum, home health aides. What’s the likelihood you or someone you love will require long-term care? According to the government website, www.longtermcare.gov, adults who are 65 years old today have nearly a 70 percent chance of needing some type of long-term care (LTC) services and support in their remaining years. Men average 2.2 years in long-term care, while women spend an average of 3.7...
Pill Splitting: A Two-fer Deal Whatever your opinion about health care reform and Obamacare, you’ve probably noticed that health care is getting more expensive and harder to find. And chances are, it’s only going to get worse. The fact is, the number one cause of bankruptcy in America is medical bills. For most of us, the older we get the longer the line of pill bottles on the shelf grows. Jim Miller, a regular contributor to the NBC “Today Show” and the author of “Savvy Living,” has information that could help you reduce the money you spend f...
You’ve probably already heard that Social Security recipients will not get a raise in their benefits in 2016. One person’s bad news is often the next guy’s good news. Social Security raises are tied to inflation, and of course high inflation is bad for the economy as a whole. But high inflation means a stiff raise in Social Security benefits. This year, inflation was ultra-low, and that means no raise for Social Security. For 2015, benefits rose only slightly, by 1.7 percent. For 2016, the average monthly benefit for Social Security recipients...
Need a gift for a senior in your life? How about an “Easy” button? You may have seen TV commercials featuring easy buttons. You have a problem and quickly solve it by pushing the easy button. Of course, nothing is that simple, but apps do make certain tasks easier. An app – short for “application” – goes right to the place you need, at the touch of an app button to help you perform a certain task. For someone who has mobility problems, and who uses a smartphone or an iPad, apps can be very helpful. Some are practical, some are protective,...
Kids love Halloween, but adults… maybe not. Seniors who live alone may feel vulnerable opening their doors to strangers. And if you choose not to spend a small fortune on treats, will your house get egged? Then again, some adults like to decorate their front porches and enjoy seeing the costumes and talking to the children. You might even walk the neighborhood with your grandkids. Depending on where you live, Halloween can be scary and stressful for seniors, especially those who live alone. If you have mobility problems, getting up and down t...
