Evidently not even managers and other senior staff members are safe from a rash of layoffs happening right now. On Feb. 1, FedEx said that it would cut its executive team by more than 10% — “a necessary action to become a more efficient, agile organization,” Raj Subramaniam, president and CEO of FedEx, said in an announcement. “It was necessary to also look closely at the size of our leadership team and functions that could be consolidated....
Tori Dunlap is a money and career expert, and host of the “Financial Feminist” podcast. Dunlap founded Her First $100K after saving up $100K and quitting her corporate job — all by the age of 25. She fights financial inequality by empowering women to reach financial success, and has helped more than 2 million women navigate debt, saving, investing and more. By Gabrielle Olya What’s the one piece of money advice you wish everyone would follow?...
The Inflation Reduction Act, passed last week, aims to tackle the high costs of prescription drugs with annual caps and government price setting, perhaps providing some hope for those on fixed incomes who rely on Medicare coverage. By Selena Fragassi See: What Is the Highest Income for Food Stamps in 2022?Find: This Credit Score Mistake Could Be Costing Millions Of Americans But while those reforms may take years to enact (the plan won’t be fully rolled out until 2025, per AARP), there are some other developments taking shape that are helping consumers achieve lower costs for much-needed medicine — particularly important at a time when 18 million Americans say they can’t afford to pay for necessary prescriptions, per a 2021 Gallup Poll....
Far more seniors go into retirement with debt today than ever before, and they carry more debt longer than any generation in the past, according to the National Council on Aging (NCOA). Medical debt, credit card debt and housing debt are the primary culprits, all of which force millions of seniors to put off important needs like car repairs just to keep the wolves at bay for another month. In the worst cases, medicine and even food are sacrificed to the altar of high-interest loans....
Tesla filed a counter-suit against JPMorgan on Jan. 24, escalating a feud between the two companies stemming from an alleged breach of contract by the automaker. Whether there will be any broader economic fallout from this ongoing feud — for the parties involved or for investors backing them — remains to be seen. By Yaёl Bizouati-Kennedy See: Just How Rich Are Elon Musk, Donald Trump and These Other Big Names? Find: 25 Secrets Elon Musk and Every Other Rich Person Knows...
Americans have a few top-notch warehouse clubs to choose from including Sam’s Club. Dating back to the early ’80s, this megachain now has about 600 locations in the United States and Puerto Rico. Like other warehouse clubs such as Costco and BJ’s, Sam’s Club offers bulk pricing for its members. The value you receive from your membership depends on how often you shop there and, more specifically, what you buy. By Nicole Spector Read More: 7 Secret Money Traps at WalmartFind Out: Surprising Things You Can Buy With Food Stamps in the South...
By Gabrielle Olya Have a Small Business That You’d Like to See Highlighted? Nominate Them Here In this edition of our Small Business Spotlight series, we’re featuring Even Dough Bakeshop in Bellflower, California, which serves traditional grilled and homemade Filipino foods that are fresh, delicious, satisfying and wholesome. From breads to special recipes, everything is prepared, baked and grilled fresh daily. Its recipes have been passed down from one generation to the next, proudly combining owner Gemma Abac’s roots, heritage and dreams....
Student loan borrowers now have a bit of breathing room. The Biden administration recently extended the student loan repayment pause to August 31, 2022 from the original deadline set to expire May 1. Borrowers now have until September to plan and prepare for repaying their debt. By Heather Taylor Discover: How To Get Rich With a Normal JobAnd More: 20 Genius Things Mark Cuban Says To Do With Your Money...
Those who don’t rank Landon Donovan as the greatest American soccer player of all time usually give the honor to Clint Dempsey. By Andrew Lisa Clint Dempsey Net Worth: $16 Million The New England Revolution and Seattle Sounders star’s 57 national team goals are tied for the record with the 57 put up by none other than Landon Donovan — but Dempsey did it in 16 fewer contests. In 2012, the English club Tottenham signed Dempsey for about $9....
Many people dream about retirement, that next chapter of life where you can explore your dreams and enjoy a comfortable lifestyle. Living in retirement, however, often looks quite different on a day-to-day basis, as retirees are not immune to facing financial challenges. By Heather Taylor See: 8 Purchases Retirees Almost Always RegretFind Out: The Downsides of Retirement That Nobody Talks About While some of these challenges might be familiar, like living in an inflationary period, others are completely new....
Meme stocks, notably AMC Entertainment and GameStop, which continue to be on a wild ride, are garnering once again the attention of regulators. By Yaёl Bizouati-Kennedy See: Why Is AMC All Over the Place? What You Need to Know Before You Invest — or Sell Find: Experts Weigh in on 10 Top Personal Finance Topics Redditors Love To Debate The U.S. Securities and Exchange Commission said yesterday it was monitoring the stocks, amid the latest market frenzy they are triggering....
Cash-back credit cards are among the simplest types of rewards credit cards. Rather than having to deal with points or miles, which can have varying payback rates, cash-back cards are relatively straightforward. When you spend on a cash-back credit card, you’ll end up with a rebate on everything you buy. By John Csiszar Citi Custom Cash Card Citi Double Cash Card Choosing a Citi Cash-Back Card But the devil is in the details....
Given many residents’ expressed interest in state-level relief during a time of economic turbulence, at the end of June, the New Jersey state legislature initiated the New Jersey Child Tax Credit program. This program provides a gross income tax credit for each taxpayer’s child (under the age of 6) for the 2022 tax filing year. By David Nadelle Inflation Relief Checks: When Will You Get Yours?Find: What Is the Highest Income for Food Stamps in 2022?...
The first monthly payment of the advance Child Tax Credit was deposited into the bank accounts of millions of eligible American families last Thursday. Those who qualified received the first of six scheduled payments of $300 per child, depending on income levels. By Georgina Tzanetos See: How Do You Plan To Spend the Child Tax Credit? Take Our Poll Find: Why Many Families Who Needed the Child Tax Credit Most Didn’t Get It...
By Heather Taylor Here It Is: Our 2022 Small Business SpotlightMore: 5 Things To Always Buy at Costco Here’s what borrowers can possibly expect when it comes to student loan payment pause extensions and forgiveness. Current State of Student Loan Debt What does the current student debt situation look like right now? Federal student loan repayments are slated to resume after August 31, 2022 after receiving various extensions throughout 2022....
As the U.S. continues to navigate through the pandemic, costs of goods across the spectrum are rising, putting an extra strain on consumer’s wallets. In 2021, we saw the prices of everything soar — from bacon and eggs to used cars and rental vehicles. The root cause of the inflation points back to the major global stressor we’re still battling: COVID-19. By Nicole Spector Economy Explained: Inflation’s Ups and Downs — How It Impacts Your WalletIn the News: Rising Inflation Is Causing Many Retirees To Worry About Their Nest Eggs...
While there are inherent risks associated with any investment, the normally “safe” global bond and fixed-income markets have been hit with remarkable losses amid efforts to tame inflation. All investors are affected by downturns — however, damages to fixed-income investments might have a greater impact on seniors, who often favour the more stable source of income these assets provide. Per Bloomberg, Treasury notes have fallen to a yield of just 2....
The four-decade high inflation is hitting Americans in every aspect of their life, from ballooning food and gas prices to an extremely pricey housing market. And now, a report finds that only half of Americans have the recommended savings. By Yaёl Bizouati-Kennedy See: Here’s How Much Retirees Actually Have in Savings (Hint: It’s Not Enough)Find: How Much It Cost To Retire in the Year You Were Born The Anytime Estimate Retirement Finances Survey found that across all age groups, financial stress from the pandemic caused many Americans to stop saving for retirement entirely or spend retirement funds that would have accrued interest for years to come....
America is tallying the lowest number of COVID-19 cases since July 2020. Major chains like Walmart, Costco, Target and CVS have dropped their mask mandates. About half the adult population has received at least one dose of vaccine and hundreds of thousands of children ages 12-15 have now gotten shots of their own. By Andrew Lisa In short, it’s almost over — which makes now a perfect time to look back....
Sarah Palin was thought to be a political has-been after vacating her role as the governor of Alaska in 2009, not long after being on a losing ticket for the White House. However, she reentered the ring for a special election for the congressional seat that was vacated due to the death of Rep. Don Young. By Michelle Tompkins See: How Rich Is Former President Donald Trump?Find: How Rich Is Nancy Pelosi?...
