shot of social security card Kameleon007 The Covid-19 crisis has upended the U.S. economy. Now retirees may face another financial challenge: a lower Social Security cost-of-living adjustment in 2021. Based on data for the first quarter of 2020, the estimated Social Security COLA for 2021 could be just 0.8%, according to The Senior Citizens League,
Personal finance
US Senator Chuck Schumer speaks at media briefing with mayor Bill de Blasio on first death related to COVID-19 outbreak in New York CIty at City Hall. Lev Radin | Pacific Press | Getty Images Congress is hashing out the terms for the next package of federal loans for small businesses, even as millions of
freemixer | E+ | Getty Images Social Security beneficiaries who do not typically file tax returns have until tomorrow to tell the government to include their dependent children in their stimulus payments. The U.S. government is in the process of deploying one-time checks of up to $1,200 to Americans who qualify, including those receiving Social
Dan Brownsword | Getty Images As the coronavirus pandemic proves financially devastating, many Americans are trading long-term goals for short-term security. That leaves 529 college savings plans in jeopardy. “Short-term cash needs are extremely important and they may reduce or eliminate the ability to make a longer-term investment,” said Young Boozer, chair of the National
Raymond Boyd Some big restaurant chains have gotten called out in recent days for using a loophole in the $2.2 trillion coronavirus relief law to access loan money earmarked for smaller businesses. Potbelly Sandwich Shop, for example, got a $10 million loan from the Paycheck Protection Program — the upper lending limit. Ruth’s Chris Steak House got
Pascal Broze | Getty Images Millions of Social Security beneficiaries are eligible for coronavirus stimulus payments. But even as the first checks have started to go out, many still have questions as to when and how they will receive their money. Most individuals who receive Social Security or Supplemental Security Income (SSI) benefits are eligible
Close up of a mature man paying bills Geber86 What if it never comes back? Notorious gangster Al Capone attempts to help unemployed men with his soup kitchen “Big Al’s Kitchen for the Needy.” The kitchen provided three meals a day consisting of soup with meat, bread, coffee, and doughnuts, feeding about 3500 people daily
One conundrum that some investors face is how to capture the safety of bonds while trying to get in on riskier stock-like returns. Enter convertible bonds. These hybrid investments are corporate-issued bonds that pay interest — generally higher than U.S. Treasury rates but lower than those on regular corporate bonds. After a predetermined length of
miodrag ignjatovic Younger Americans are eager to eat and drink out in public again. They will, however, likely shy away in large numbers from festivals, sports venues and international trips for a while once conoravirus lockdowns are lifted across the U.S., perhaps preferring to shop online from home while waiting to see how vaccine trials
Empty desks and chairs in a high key cafeteria room with no people during corona virus pandemic. Giulio Fornasar Samantha Costanza was furloughed in March by her company, which designs merchandise for Broadway shows, all of which are now closed due to the coronavirus pandemic. “I had not heard of the term ‘furlough’ before, and assumed
Deborah Harrison | Photographer’s Choice RF | Getty Images If you’re behind on your debts, your coronavirus stimulus check could be taken from you. Some states are fighting back to prevent that from happening. This week, Ohio Attorney General David Yost warned creditors that those one-time government checks are protected by state law from garnishment.
NoDerog | iStock | Getty Images Millions of Americans received stimulus checks from the U.S. government this week to help stave off the negative economic effects of the coronavirus. But many people are still asking: Where is my money? If you haven’t received your payment yet, take heart: Millions more Americans are slated to receive
Secretary of the Treasury Steven Mnuchin speaks with President Donald J. Trump and members of the coronavirus task force during a briefing in response to the COVID-19 coronavirus pandemic on Thursday, April 02, 2020 in Washington, DC. (Photo by Jabin Botsford/The Washington Post via Getty Images) The Washington Post Veterans and their family members will
andresr/Getty Images This week was supposed to include Tax Day, when personal income taxes are traditionally due. Instead, it marked a different big milestone: the beginning of the coronavirus stimulus payments. Now, Congress has updated its timeline on when subsequent rounds of payments can be expected. Here’s the latest, according to the House Ways and
silvana magnaghi | Moment | Getty Images One thing the coronavirus outbreak has made super clear: We are all connected. So while you might think your job is safe, consider how your field is tied to other industries, says Amanda Augustine, a certified professional resume writer and career coach at TopResume. Right in the firing
The recent market volatility has no doubt caused increased stress and anxiety among investors. That alone is enough to lead someone to make a mistake. Add disruptions in our daily lives caused by the coronavirus pandemic and people are even more likely to make bad choices, according to Morningstar’s new report, “A Behavioral Guide to Market
skynesher | E+ | Getty Images Wondering where your coronavirus stimulus payment is? The delay could be due to a glitch related to your tax preparation service. A new report from The Washington Post on Thursday estimates that millions of Americans could still be waiting to see their stimulus money if they previously filed their
All in the family Melissa Stephenson, 37, asked a family member for help when she found herself at the breaking point. Source: Melissa Stephenson Melissa Stephenson, 37, who runs a flea market blog, says she found herself at the breaking point a few weeks into the quarantine. “The first two weeks, I was so overwhelmed
Blank Social Security checks are run through a printer at the U.S. Treasury printing facility February 11, 2005 in Philadelphia, Pennsylvania. William Thomas Cain | Getty Images If you’re receiving Supplemental Security Income benefits, you will get your coronavirus stimulus payment automatically, the government said on Wednesday. The payments will come the same way you
Damir Khabirov | iStock | Getty Images Some Americans who are eagerly awaiting their coronavirus stimulus payments may be in for an unwelcome surprise: less money than they had expected. News that $1,200 payments are coming to individuals and $2,400 for couples has made headlines since Congress passed the CARES Act in March. Dependents are