Personal finance

Here’s what beneficiaries need to know as the Social Security Administration phases in new policies for overpayments

Personal finance
Mstudioimages | E+ | Getty Images Social Security beneficiaries who owe money to the Social Security Administration may see much lower default withholding rates from their monthly checks, thanks to new policies that are going into effect. As of March 25, the Social Security Administration will no longer collect 100% of a total monthly Social
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Dartmouth and Vanderbilt expand financial aid awards in an effort to eliminate student loans

Personal finance
Amid arguably the worst year to apply for financial aid, some colleges are implementing new strategies to entice students wary of the high cost.    Vanderbilt University announced it is expanding Opportunity Vanderbilt to include full-tuition scholarships to students of families with an annual income of $150,000 or less. Meanwhile, Dartmouth also said it is nearly
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‘Guilt tipping’ is getting out of control, but signs show consumers are pushing back

Personal finance
What was once a gesture of appreciation has quickly become a source of annoyance. With the rapid rise of tipping culture post-pandemic, consumers face more opportunities to tip for a wider range of services than ever before, a trend also referred to as “tip creep.” But recent surveys show shoppers are experiencing “tip fatigue” and starting to tip
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As new vehicles become more like computers, what car shoppers need to know about protecting their data

Personal finance
New cars today are loaded with high-tech features for car shoppers, from their own operating systems to navigation and remote unlock. But with those advancements come questions about driver privacy, said Ivan Drury, the director of insights at Edmunds, a car site. “As much advancement as we have when it comes to new features, many
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There’s still time to reduce your tax bill or boost your refund before the deadline — here’s how

Personal finance
Drakula & Co. | Moment | Getty Images With roughly two weeks until the federal tax deadline, there’s still time to reduce an unexpected tax bill or boost your refund. After year-end, investors have limited tax planning opportunities. It’s too late to boost pretax 401(k) contributions, donate to charity or reduce portfolio profits with tax-loss
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Social Security Administration to remove food assistance as barrier to accessing certain benefits

Personal finance
Zeljkosantrac | E+ | Getty Images The Social Security Administration has issued a final rule that will prevent food assistance from reducing payments to certain beneficiaries. The change applies to Supplemental Security Income, or SSI, which provides monthly checks to adults and children who are disabled, blind or age 65 and older, and have little
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After a difficult application year, college hopefuls have a ‘love-hate relationship’ with ‘Ivy Day,’ expert says

Personal finance
Harvard University’s Dunster House in Cambridge, MA Blake Nissen for The Boston Globe via Getty Images March 28 is “Ivy Day,” when the nation’s top schools release long-awaited admissions decisions. A fascination with the eight private colleges that comprise the Ivy League spans decades. It is only now, some say, that students are taking a more
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‘The Fed has made two major mistakes in its history,’ expert says. Here’s how those affect policy today

Personal finance
Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank’s William McChesney Martin building on March 20, 2024 in Washington, DC.  Chip Somodevilla | Getty Images Slowly but surely, recessionary talk is dying down and confidence in the Federal Reserve is picking up. Last week, the central bank held its benchmark
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Crypto is ‘like cayenne pepper’ for investors, money manager says: ‘A little goes a long way’

Personal finance
Tara Moore | Stone | Getty Images Katherine Dowling has an analogy that may be useful for investors thinking of buying cryptocurrency like bitcoin and wondering what amount is appropriate. It’s “like cayenne pepper,” said Dowling, general counsel and chief compliance officer at Bitwise Asset Management, a crypto money manager. “A little goes a long
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An ‘often overlooked’ retirement savings option can lower your tax bill, advisor says. Here’s how it works

Personal finance
10’000 Hours | Digitalvision | Getty Images There’s still time to lower your 2023 tax bill or boost your refund with a lesser-known retirement savings strategy for married couples. One requirement for individual retirement account contributions is “earned income,” such as wages or salary from a job or self-employment earnings. But there’s an exception for
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Women experience a ‘motherhood penalty.’ For dads, there’s a wage ‘bonus’

Personal finance
While the benefits of having children are shared between both parents, it is mothers who bear the brunt of the costs, according to a recent study published in the Proceedings of the National Academy of Sciences. Despite women’s increasing levels of education and representation in senior leadership positions at work, women are still more likely than men to take time out
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Millions of older adults with student debt are at risk of losing some Social Security benefits, lawmakers warn

Personal finance
Martinprescott | E+ | Getty Images Millions of older adults who are behind on their student loans could soon receive a smaller Social Security benefit. That was the warning from Democratic lawmakers, including Sen. Elizabeth Warren, D-Mass., and Sen. Ron Wyden, D-Ore., in a recent letter to the Biden administration. “When borrowers are in collections,
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