Financial feats that were once unheard of—from investing in cryptocurrency to instantly paying someone through an online payment system—have now become commonplace in many parts of the country. But these sophisticated tasks must be built on a foundation of financial literacy.
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The Earned Income Tax Credit (EITC) is a federal tax credit that can provide great benefit to families. According to the IRS, in 2019 alone, approximately 25 million workers and families received over $60 billion in EITC payments, with the average payment coming in at $2,476.
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If you're like many Americans, you may have a few dents and dings on your credit report. As of 2020, around one in five adults has either a "fair" or "poor" credit score, which can impact their ability to qualify for a loan, rent an apartment, or even get a new job.1 And if you've largely avoided debt as an adult, you may find you have a similar problem—a sparse or nonexistent credit history can reduce your score as well.
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Women are increasingly the guardians of family wealth and can benefit from following some best practices in wealth management and preservation.
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Most people who decide to purchase stocks, bonds, mutual funds, or other investment vehicles do so understanding that there are risks associated with investing, but believing that the potential growth they may realize over time outweighs such risks. However, because there are no guarantees, investing assets can be a nerve-wracking experience – especially during periods of market turbulence.
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With more and more seniors aging in place, the rise in caregivers who are not health professionals has begun to increase as well.
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A resolution for every month to help you work towards financial independence.
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According to the National Council on Aging, someone turning age 65 today has almost a 70 percent chance of needing long-term care services during their lifetime.
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Tax identity theft is when someone steals your Social Security Number, files a tax return with your number, and directs a refund to their own bank account. In other cases, this type of identity theft may involve a scam artist calling on the phone, pretending to be a rep from the Internal Revenue Service (IRS), and demanding payment over the phone. To protect yourself, keep these tips in mind.
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Financial wellness refers to having a happy, healthy, and relatively stress-free relationship with your finances. Typically, people who have financial wellness have the following four elements in place:
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