Category: personal finance

Continuing Unemployment Claims Rise to Highest in Five Months, as Initial Claims Fall

Americans filing continued unemployment claims rose to their highest level in five months, while initial jobless claims fell to their lowest level since June, according to the Labor Department on Sept, 1. Continuing claims, which run a week behind jobless claims data, rose to 1.44 million on Aug. 20, up 26,000 from the previous week, to levels…


Still No Answer to the Question: Who Pays for Loan Forgiveness?

It has been more than a week, and there is still no coherent answer out of the Biden administration to the question of who will pay for student loan forgiveness, which may cost Americans anywhere between $300–500 billion by the time it’s all done. For background, the White House announced, on Aug. 24, 2022, that…


The Social Security Earnings Penalty for Self-Employed People

“Well, Tom, you see, I’m a farmer. I got me about 100 acres of beans, and I really only work two months a year. I plant those beans in April and I harvest them in October. The rest of the time, I’m pretty much sitting on my butt. Oh, I mend a fence or two…


Unemployment Continues to Rise in Germany Amid Energy Shortages, High Inflation

Unemployment in Germany for August rose but just below earlier predictions, according to the Federal Labor Office on Aug. 31. The German government said that the number of people out of work increased by 28,000 in August, bringing total unemployment numbers up to 2.497 million, as the Central European nation is dealing with critical energy shortages and high…


How Major US Stock Indexes Fared Wednesday Aug. 31, 2022

Wall Street closed lower in another day of choppy trading, remaining on pace for a weekly loss after several days of declines. Losses in technology and retail stocks outweighed gains in communications and other sectors. The S&P 500 lost nearly 1 percent Wednesday after wavering between gains and losses. The Dow Jones Industrial Average and…


Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 31)

Benchmark U.S. crude oil for October delivery fell $2.09 to $89.55 a barrel Wednesday. Brent crude for October delivery fell $2.82 to $96.49 a barrel. Wholesale gasoline for September delivery fell 9 cents to $2.61 a gallon. September heating oil fell 10 cents to $3.72 a gallon. October natural gas rose 9 cents to $9.13…


Paycheck 101: A College Grad’s Guide for How to Manage a Paycheck

There you are, a college graduate with your newly minted degree in one hand and a new job in the other — or the confidence that you will have one soon. For years you’ve waited for a real job with a real paycheck to get a decent car, apartment and respectable wardrobe. After all, these…


Jobs Report Shows Hiring Slowdown, Inflation Pressures Elevated

A newly released jobs report showed that the pace of hiring in the private sector slowed down in August, amid growing fears of an economic slowdown and historically high inflation. The much awaited monthly report on private sector employment was released by payroll processing firm ADP on Aug. 31. Company payrolls grew by only 132,000 this…


Silver Economic Power: Seniors and Disposable Income

More than 34 percent of the U.S. population is over 50, and the over-65 demographic will increase 65 percent by 2030; seniors are living longer and spending more. Many retirees can expect to live 10 years longer than their parents. And these aren’t frail retirees. These seniors tend to work later and play harder. From going…


Why You Should Buy a Good Annuity and Avoid the Rest

Let’s be real. It can be hard to save for retirement. ‌But, after you figure out how much you need to save for retirement, the real work‌ ‌begins. Obviously, there are a lot of ways to save for retirement. ‌Your main options are 401(k)s through your employer and individual retirement accounts (IRAs). But, there are also…