The Biden administration will soon punish Americans with high credit ratings to pay more for their mortgages to subsidize loans for homebuyers with lower scores. Starting May 1, Americans purchasing a new home or are refinancing their existing mortgages will have to pay higher mortgage rates and monthly fees if they have a higher credit score, The…
Housing Agency Rules Will Force Homeowners With Good Credit to Subsidize High-Risk Borrowers
April 20, 2023
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How to Cut Costs by Self-Managing Your Rental Properties
April 20, 2023
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By Dave Spooner Many small to mid-sized landlords want to self-manage their rental properties, and for good reason. Above all, self-managing your properties means more take-home revenue—you won’t have to say goodbye to a large portion of your rental income each month to pay a property manager or company. Another benefit is that you’ll be…
Buying an Annuity During Times of Inflation
April 20, 2023
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Inflation can throw a wrench into retirement plans. That’s because, over the long term, inflation erodes your income’s purchasing power. So even if you save and invest, your wealth may buy less and less with time. Commercial annuities often pay a fixed monthly income. This fixed amount is susceptible to inflation. But if annuities are…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 19)
April 19, 2023
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Benchmark U.S. crude oil for May delivery fell $1.70 to $79.16 a barrel Wednesday. Brent crude for June delivery fell $1.65 to $83.12 a barrel. Wholesale gasoline for May delivery fell 10 cents $2.65 a gallon. May heating oil fell 4 cents to $2.56 a gallon. May natural gas fell 15 cents to $2.22 per…
American Workers Want About $76,000 in Starting Wages to Take a Job Due to Inflation
April 19, 2023
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American workers are demanding at least nearly $76,000 annual wage from potential employers before taking a job due to high inflation and a tight labor market. Employee wage expectations skyrocketed to a new high of $75,811 a year in March, according to the SCE Labor Market Survey from the Federal Reserve Bank of New York. This is $2,100 higher…
Freelancers Can Prepare Now for New 2023 Tax Reporting
NEW YORK—Taxpayers who have filed their 2022 taxes by Tuesday’s deadline may be sighing with relief. But there’s always next year. If you’re a freelancer or gig worker who receives payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2023 tax year. The law will not…
IN-DEPTH: Key Risks Facing Banks and What Americans Can Do About Them
April 19, 2023
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While the threat of financial contagion has abated following the bank turmoil sparked by the collapse of Silicon Valley Bank (SVB), experts warn that there are still risks facing U.S. banks that Americans should be mindful of. The collapse of SVB sent shockwaves through the U.S. banking sector, sparking a crisis of confidence and an…
Goldman Sachs Eyes Potential ‘Cannibalization’ From Apple’s New Savings Account
Goldman Sachs CEO David Solomon said he’s not concerned about Apple’s new savings account overshadowing his bank’s own Marcus savings accounts, though he’s watching closely for “cannibalization.” Solomon made the remarks in a recent earnings call, during which he was asked about Apple’s newly-announced savings account, which offers an annual percentage yield (APY) of 4.15 percent…
In Love, It’s Not Easy to Talk About Money
Money is the most difficult subject to discuss between two people in love. Why? Several reasons: It’s personal. We’re taught as children to never ask how much people earn, what things cost or how much money people have. It’s rude; it’s poor manners; and it is just not done. We spend the first two decades…
The SSN: A History Lesson
Regular readers of my column know that I try to avoid the use of Social Security jargon, abbreviations and acronyms as much as possible. That even goes as far as the name of the agency that runs the Social Security program. Although I must frequently do it, I just don’t like referring to the SSA…
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