Massive computer hacks and data breaches are now common occurrences — an unfortunate consequence of living in a digital world. Once identity thieves have your information, they can use it to gain access to your bank and credit card accounts, make unauthorized transactions in your name, and subsequently ruin your credit. Now more than ever, it’s important to safeguard yourself against identity theft.
Even before your children can count, they already know something about money: it’s what you have to give the ice cream man to get a cone, or put in the slot to ride the rocket ship at the grocery store. So, as soon as your children begin to handle money, start teaching them how to handle it wisely.
Most Americans will eventually receive Social Security and Medicare benefits. Each year, the Trustees of the Social Security and Medicare Trust Funds release lengthy reports to Congress that assess the health of these important programs. The newest reports, released on April 22, 2020, discuss the current financial condition and ongoing financial challenges that both programs face, and project a Social Security cost-of-living adjustment (COLA) for 2021.
In 2019, the Oregon Legislature passed Senate Bill 1049 (SB1049). The bill makes some changes to the Oregon PERS calculations in their quest to help keep the PERS system funded for current and future beneficiaries. While the bill was passed in 2019, components of the bill take effect at various times throughout 2020. For the most part, it is active PERS members who will be impacted by these changes. It’s important, if you are an active PERS member, to understand how these changes may impact you.
As more and more women earn college degrees, change in the workplace may be inevitable. According to the National Center for Education Statistics, women now earn 57% of bachelor’s degrees, 58% of master’s degrees, and 53% of doctoral degrees. According to the Bureau of Labor Statistics, approximately 71% of women with children under age 18 are in the labor force.
When it comes to your finances, “go with your gut” might not be the wisest adage to follow. In fact, it may work against you, particularly in periods of market turbulence. Before jumping to conclusions about your finances, consider what biases may be at work beneath your conscious radar.
On April 20, 2020, the price of a futures contract for West Texas Intermediate crude — the benchmark for U.S. oil prices — fell below zero for the first time in history, dropping more than 306% in trading on the New York Mercantile Exchange and ending the day at -$37.63 per barrel. Essentially, this meant that investors who would soon be obligated to take possession of a barrel of oil were willing to pay someone else to take it instead.
We all know men and women are different in some fundamental ways. But is this true when it comes to financial planning? Everyone wants financial security. But women often face unique obstacles that can affect their ability to achieve it. Let’s look at some of these potential headwinds.
Most are familiar with the old saying “never mix business with pleasure.” However, for business owners both large and small, keeping in mind the mantra to never mix business finances with personal finances will serve you well.
If you participate in a 401(k), ESOP, or other qualified retirement plan that lets you invest in your employer’s stock, you need to know about net unrealized appreciation — a simple tax deferral opportunity with an unfortunately complicated name.