Wednesday, October 27, 2021
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Democrats’ plan may raise childcare costs for some middle-class families

Photo by Mike Kline (notkalvin) | Moment | Getty ImagesA package of social reforms Democrats are hashing out on Capitol Hill would pump federal money into the U.S. childcare system, with the aim of improving pay for workers and making care more accessible and affordable for all Americans.While the

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Longevity annuities can be a good deal for seniors. But not many people buy them

MoMo Productions | DigitalVision | Getty ImagesAmerican life expectancy is trending up — and that creates more financial risk for retirees, who must make their nest eggs last a longer time.An average 65-year-old today will live another 20 years, about six years more than in 1950, according to the

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1 in 5 gig drivers got unemployment benefits at pandemic peak

hxyume | E+ | Getty ImagesAbout 1 out of every 5 drivers in the gig economy was collecting unemployment benefits at the pandemic's peak, according to a new analysis published by the JPMorgan Chase Institute.These drivers worked for "online platforms" offering services like ride hailing (Uber and Lyft, for

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6 reasons why Americans aren’t returning to work

A "Now Hiring" sign outside a store on Aug. 16, 2021 in Arlington, Virginia.OLIVIER DOULIERY | AFP | Getty ImagesOn the surface, conditions may seem ripe for a boom in the U.S. labor market.There are still 5 million fewer jobs than before the pandemic but job openings are near

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Amazon impersonators stole $27 million in a year. Here’s how

Karl Tapales | Moment | Getty ImagesCon artists pretending to be Amazon employees scammed Americans out of $27 million from July 2020 through June 2021, the Federal Trade Commission said Wednesday.These fraudsters were part of a "business impersonator" scam. Criminals pose as someone the consumer trusts — in this

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Here’s why Democrats’ proposed elimination of Roth conversions for the wealthy doesn’t start until 2032

Photo by Mike Kline (notkalvin) | Moment | Getty ImagesHouse Democrats proposed a rule to forbid Roth conversions for the wealthy as part of a broad package of tax increases on affluent Americans.But there's an irony in the proposal, according to tax experts.A Roth conversion is a mechanism that

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Covid-related scams have bilked Americans out of $586 million

boonchai wedmakawand | Moment | Getty ImagesConsumers have lost $586 million to fraud linked to the Covid-19 pandemic, according to data from the Federal Trade Commission.Americans filed more than 269,000 fraud complaints from the beginning of 2020 to Oct. 14, 2021, according to most recent federal data. (Consumers cited

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91% of people with health savings accounts make this mistake

The Good Brigade | DigitalVision | Getty ImagesThe vast majority of health savings account owners aren't investing their money — and it's likely shortchanging them over the long term.Just 9% of accountholders were investing a portion of their HSA balance in 2020, according to an Employee Benefit Research Institute

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More than a third of jobless Americans are still long-term unemployed — and without benefits

People receive information as they attend a job fair at SoFi Stadium on Sept. 9, 2021, in Inglewood, California.PATRICK T. FALLON | AFP | Getty ImagesMore than a third of jobless Americans are still long-term unemployed, and federal benefits for these workers ended more than a month ago.  However,

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