Category: personal finance

Reaching the US Debt Ceiling Could Affect Social Security Benefits

On Jan. 19, 2023, the U.S. government again reached its debt ceiling. Congress sets the limit, and once reached, no more debt can be incurred without paying on the national debt. Disagreements have left Congress trying to figure out how to proceed. Many are afraid that it will affect Social Security and Medicare payments. In…


Unemployment Filings Drop in Fresh Sign of Tight Labor Market and Persistent Inflation Pressures

Unemployment filings in the United States dropped last week, as fewer Americans filed for unemployment benefits while the labor market remains tight and inflation pressures continue to persist. Applications for jobless claims for the week ended Jan. 21 fell to 186,000 from 192,000 the previous week, the Department of Labor reported on Jan. 26. This was…


Retirement: How a Roth Can Diffuse a Tax Bomb in Retirement

By Sandra Block From Kiplinger’s Personal Finance Decades of salting away part of your paycheck in a 401(k) or similar plan can lead to a “tax bomb” later in retirement. That often occurs when you’re in your early 70s and must begin required minimum distributions (RMDs) from tax-deferred retirement accounts, such as a 401(k) or…


Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 25)

Benchmark U.S. crude oil for March delivery rose 2 cents to $80.15 a barrel Wednesday. Brent crude for March delivery fell 1 cent to $86.12 a barrel. Wholesale gasoline for February delivery fell 6 cents to $2.59 a gallon. February heating oil fell 7 cents $3.36 a gallon. February natural gas fell 19 cents to…


Americans Want Investment Funds to Maximize Profit, Not to Chase Woke Goals, Poll Reveals

A new poll reported that most Americans do not want investment firms to spend their retirement money on so-called woke goals like climate change and would prefer that they focus on maximizing profits for retirement. The exclusive poll was published by Breitbart News on Jan. 24 and conducted by CRC Research for the 85 fund….


4 Trends All Small Business Owners Should Be Aware of in 2023

By Oliwia Szczekot The beginning of a new year often comes with a laundry list of goals and to-dos, which can quickly become overwhelming if you try to tackle too much, too fast. I’ve always approached resolutions by setting short and long-term goals spanning the entirety of the year—after all, we have 12 months to…


Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 24)

Benchmark U.S. crude oil for March delivery fell $1.49 to $80.13 a barrel Tuesday. Brent crude for March delivery fell $2.06 to $86.13 a barrel. Wholesale gasoline for February delivery fell 5 cents to $2.65 a gallon. February heating oil fell 12 cents $3.43 a gallon. February natural gas fell 19 cents to $3.26 per…


Investing: The Year Ahead for Bonds

By Nellie S. Huang From Kiplinger’s Personal Finance If there’s any truth to the adage “It’s always darkest before the dawn,” then the sun should be heating up the bond market sometime soon. Despite a short rally in December, the bond market suffered its worst decline in decades, thanks to the Federal Reserve’s swift and…


Airbnb for Profit: What You Need to Do

If you have a large house, empty apartment, or additional properties, you might be a candidate to host an Airbnb. However, to do it right and make a profit, it will take an investment of time. But what kind of investment does it take? And can you make a profit renting out your place? Know…


California’s New Wealth Tax Plan Targets Wealthy Even If They Flee to Another State

California Democrats are pushing for a new tax on the state’s wealthiest residents that includes the ability to tax them even after they’ve left the state for places like Florida or Texas—or even after they move out of the country. State Rep. Alex Lee introduced the Wealth Tax Act as Assembly Bill 259 and Assembly…