Money Today That Matters Tomorrow
My dad use to say, “you can’t get blood from a turnip“. When you hear this phase during your younger years, your thoughts tend to imagine a guy squeezing a turnip and hoping blood will come out. Your next thought is something along the lines of, “why would someone squeeze …
I received a letter in the mail the other day from some legal firm saying that they were on the verge of winning a class action suit against a large medical corporation and that I could be entitled to part of their structured settlement; if I could prove I had …
As I get older and my family grows, one question that comes to mind is, “will they manage if something happens to me? Particularly from a financial aspect.” I can’t do much to prevent the emotional impact, but I want to ensure that my family will not suffer financially if …
Nowadays every extra dollar counts more than ever. Despite a paycheck from working a regular job, once taxes and other fixed expenses are accounted for, it is getting harder and harder to make ends meet. Since there are only twenty four hours in day, physically working more (provided you can …
[Latest update] The government has finalized details of coronavirus relief stimulus checks and is expected to make these direct payments to millions of Americans in the coming days. Details can be found here. [Updated with new extensions] Based on a number of reader questions, there is still some confusion around …
The Bureau of Labor Statistics released the latest unemployment report showing that the US economy has now lost at least 650,000 jobs for three consecutive months, the worst decline in percentage terms over that length of time since 1975. The rise in the unemployment rate from 7.6% to 8.1% translates …
Here’s a worrying byline on many levels: Federal Deposit Insurance Corp (FDIC) Chairman Sheila Bair said that the deposit insurance fund used to protect bank account holders could be insolvent this year, unless the agency imposes additional fees on the industry amid a surge in bank failures. The first thought …
I wrote a few months ago that the Dow index crashing was an outside possibility following the first wave of the credit crisis induced market panic. The Dow had fallen below 10,000 at that time and even I thought that 5000 was highly unlikely. But, it looks like the seemingly …
Just another sign that the Mortgage Giants are really in much more trouble than the government regulators are letting on. David Moffet was CEO of Freddie Mac for just under 6 months and he must have thought the problems are too much too handle. The C-Level musical chairs at Freddie …
One of the corner stones in President Biden’s recently announced $3.6 trillion budget was to raise taxes on the rich in order to cut the budget deficit and fund many of his ambitious programs over the next decade. The prime focus of his tax reforms were the richest 2% of …
In an ominous sign that the financial and economic fear has spread far and wide, a once laughable and highly unlikely event has come to pass. Our biggest banks are on the verge of being nationalized. That’s right – the government may soon step in and take over America’s biggest banks …
Before pulling the trigger on buying your house, you need to consider the case for buying now versus waiting for conditions to improve. In today’s housing market, which is characterized by a “locked-in” effect where many existing homeowners with low mortgage rates are reluctant to sell, there is a strong …
What a month! The nearly trillion dollar economic stimulus package was finally approved by Congress and signed into law. The size of the stimulus is truly mind boggling – $787,000,000,000 (9 zeros!) – and works out to about $2,600 per American. To put in perspective, if the stimulus were a …
When I was younger and whenever my mother took me to the doctor or a professional like her banker, accountant or stock broker, she would always say: “Don’t worry son, you’re in good hands, these people are super smart.” Well, lets take a look at some of these “smart” professionals …