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Just two days after Elon Musk sent a series of emails telling his Tesla executive staff they couldn’t work from home anymore, the richest man on the planet announced he would need to cut about 10% of jobs at the company. By Yaёl Bizouati-Kennedy See: 22 Side Gigs That Can Make You Richer Than a Full-Time JobFind: Here’s How Much Cash You Need Stashed if a National Emergency Happens Musk said he had a “super bad feeling” about the economy, according to an internal email to executives obtained by Reuters and titled “pause all hiring worldwide....

Cryptocurrency, as far as Gen Z is concerned, has a place in the future of finance. By Heather Taylor While crypto experienced significant setbacks in 2022, the outlook appears to be brightening. Bitcoin briefly topped $23,100 and is now up around 37% since the start of January. If more than a quarter of Gen Z sees the potential of crypto in the banking sector, what does this mean for the future of finance?...

It’s the middle of the workweek, and we’re staying the course with another roundup of today’s top financial stories. By Gary Dudak The Big Lead: ‘Retirement Crisis’ Called Out A recent Forbes article by Andrew Biggs took Bloomberg editors to task for claiming that the U.S. is facing a pending and dire “retirement crisis,” which could “under reasonable assumptions” overwhelm state budgets. Biggs, an expert on retirement policy and public sector pay, calls the assumptions “anything but reasonable,” however....

Understanding the complexities and nuances of insurance policies is rarely a simple task. This can be especially true of employer-provided healthcare plans, which offer many different types of coverage that may or may not benefit you specifically. This is where cafeteria plans tend to shine, because they’re more flexible and customizable to what the recipient needs. By Christian Long Learn: 10 Reasons You Should Claim Social Security EarlyMore: 9 Bills You Should Never Put on Autopay...

The minimum wage is a legally set minimum amount that employers must pay their employees to be within the law. While most states have their own state minimum wage, in states that have not set one, they must accord with the federal minimum wage, which is $7.25 per hour. By Jordan Rosenfeld See Our List: 100 Most Influential Money ExpertsSmall Business Spotlight 2022: Nominate Your Favorite Small Biz by July 25...

Social Security retirement benefits are not the same for all retirees. The amount of your monthly benefit can vary greatly based on a number of different factors, from when you decide to claim Social Security to how much you earned during your career. However, there is a maximum allowable Social Security retirement benefit. Ironically, the highest payout is reserved for those who arguably need it the least. If you’re aiming to snag this top payout, here’s what you’ll need to do....

With many experts and investors predicting stocks to continue falling this year — eventually precipitating a bear market — and inflation continuing, many people are looking for some sort of financial safety net to hedge against what may come. By Dawn Allcot And for some people, including savvy investors and financial planners, a reverse mortgage could be the answer. What Is a Reverse Mortgage? A reverse mortgage is similar to a home equity loan, with a few important differences....

The first round of monthly payments for the advance child tax credit, which is part of the stimulus relief bill, is slated to hit bank accounts on July 15. If you are eligible, you will receive a $250 or $300 payment per child, depending on the age of the child, automatically each month from July through December. Together, the six monthly payments will amount to half of your total benefit....

By Bob Haegele Check Out: The Cost To Retire in America’s Sunniest Cities Be Prepared: 30 Greatest Threats to Your Retirement In total, the number of people receiving the type of benefits is over 65 million. Of those, the bulk are receiving Old-Age and Survivors Insurance — a group that includes spouses and children of retired workers. A smaller subset is those receiving disability insurance, and this group can also include spouses and children....

Across the country, many schools are struggling to address a staffing crisis in which there is a teacher shortage. Some states are loosening job requirements as a possible solution to this challenge. By Heather Taylor See Our List: 100 Most Influential Money ExpertsStudent Loan Forgiveness: Mark These 4 Dates on Your Calendar Now The Washington Post reported some states are permitting people to teach even if they haven’t finished college. A further deep dive into the National Council on Teacher Quality (NCTQ) State of the States 2021 report revealed only 15 states required candidates to pass a basic skills test for admission....

According to the Federal Reserve Bank of St. Louis, 11% of America’s 157 million employed people work for themselves in 2022. The Great Recession triggered a steep decline in the self-employed share of the labor force, but the COVID crisis did not bring the same result. In fact, the self-employed population ticked up by 0.4 percentage points between February and August 2020, and the trend toward people working for themselves has only gained more steam since then....

When it comes to the bills Gen Z and today’s Americans are paying, they look very different from the bills millennials and previous generations had to pay. From stressing over long-distance phone minutes, paying for cable TV and trying to remember to return rental DVDs on time, the previous generations’ layout of finances was a stark contrast to today’s. By Maddie Duley The drastic changes in entertainment fees and formats can be attributed to many changes in technology and society’s transition into the digital age....

Now is the time to choose your Medicare plan for the new year if you haven’t done so already. Open enrollment for Medicare ends on Wednesday. By Nicole Spector Social Security: No Matter Your Age, Do Not Claim Benefits Until You Reach This MilestoneDiscover: 5 Things You Must Do When Your Savings Reach $50,000 While navigating open enrollment, keep in mind the various healthcare-related expenses that Medicare does not cover so that you may budget accordingly should the need arise....

Job hunting looks quite different in 2023 as compared to even a few years ago, especially for entry-level candidates applying for their first professional role. By Selena Fragassi See: 10 Things To Stop Buying in 2023Find: 7 Remote Jobs Gen Z Will Love Nowadays, applicants have to contend with bots, AI and keyword optimization to even get their resume in the right hands, not to mention being very savvy about gaining a social following while not posting anything inflammatory....

Headquartered in Detroit, TCF is a full-service bank with 475 banking centers across the country. Its primary service area is in Illinois, Michigan and Minnesota. However, the bank also has a presence in Colorado, Ohio, South Dakota and Wisconsin. By Cynthia Bowman Free Checking Free Savings CD Promo Opening an Account In June of 2021, TCF and Huntington announced they had completed their merger. TCF customers will be transferred to Huntington by the end of the year....

Getting a Social Security card for your child is crucial to verify your child’s identity and receive certain private sector and government services. If your child’s card was lost or misplaced, you can request a replacement card from the Social Security Administration (SSA) free of charge. By Josephine Nesbit See: 5 Things Most Americans Don’t Know About Social Security Find: Social Security: How To Boost Your Benefit by $800 According to the SSA, your child’s Social Security number (SSN) can be used to: open a bank account for the child, buy savings bonds for the child, get them medical coverage, apply for government services and claim them as a dependent on your income tax return....

In a very convoluted legal case to recently draw headlines, self-proclaimed Bitcoin inventor Craig Wright won part of a litigation on Dec. 6. This mixed ruling found that Wright was, in fact, not business partners with Dave Kleiman — enabling Wright to avoid having to pay billions of dollars to Kleiman’s estate. However, the conclusion of the case fails to clarify the identity of the enigmatic figure that is Satoshi Nakamoto, and many in the crypto industry continue to view Wright’s claims as exaggerated or imaginative....

Crypto is a highly volatile asset class, but it also has the potential to provide big returns. But given the risks, is it a smart investment if you’re saving for your child’s college fund? By Gabrielle Olya See: 10 Richest People in the WorldFind Out: Here’s How Much Cash You Need Stashed if a National Emergency Happens While there’s no one-size-fits-all answer to this question, here’s a look at why you might consider it....

Social Security recipients will be getting much bigger payments next year thanks to an 8.7% cost-of-living adjustment for 2023 that will boost the average monthly check by $146. But it still might not be enough to help many seniors pay their bills in a period of historically high inflation. By Vance Cariaga See: 8 Purchases Retirees Almost Always RegretFind: 10 Reasons You Should Claim Social Security Early More than half of retired Americans (55%) say the Social Security 2023 COLA isn’t enough, according to a new Motley Fool survey of 750 U....

Scott Minerd, global chief investment officer for financial firm Guggenheim, predicts that the stock market could drop 15% by November, according to a report by Business Insider. He blames the economic stimulus, noting that the central banks have “no exit plan.” By Dawn Allcot See: Fourth Stimulus Won’t Happen, But These Federal Programs Aid Those In Financial NeedFind: Senior Stimulus: Advocacy Group Proposes One-Time, $1,400 Payment for Social Security Recipients...