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Protect your sensitive identity data with an IRS PIN

Business / Terry Savage /

Now you can protect your income tax information as easily as you can freeze your credit report. It’s a sign of the times that everyone’s financial identity is at risk. The IRS is now expanding its Identity Protection PIN program, formerly available only to victims of identity theft, to all taxpayers who can securely verify their identities. ...Read more

Will inflation ever return?

Business / Terry Savage /

Inflation is a distant memory to a generation of investors and consumers. But 40 years ago, as the Fed created money to offset government spending on the Great Society and on rising oil prices, there was an overwhelming fear that the dollar was losing buying power at an accelerating rate. That’s the perfect definition of inflation.

Prices ...Read more

Getting your stimulus check

Business / Terry Savage /

The second round of stimulus checks is in motion. If you haven't received yours, here’s what you can do to make sure you do — and what to do if you never received the first stimulus check that was distributed earlier in 2020.

The amount is only $600, and you must qualify based on either 2019 or 2020 income. Individuals earning less than $75...Read more

Credit card euphoria will lead to nasty hangover

Business / Terry Savage /

If you haven't already stopped your seasonal shopping binge — which for most Americans extends well past Christmas — now is the time to apply the brakes. The euphoria over the arrival of the COVID-19 vaccine has encouraged a surge of optimism that’s resulting in a huge bulge in credit card debt — even among people whose income has been ...Read more

Unemployment scams will cause woe at tax time

Business / Terry Savage /

We are just seeing the tip of the identity theft iceberg. People who received unsolicited debit cards from state unemployment bureaus are warned that their identities have been stolen. But what about the millions of Americans who don’t know their identities have been used to collect unemployment benefits?

They will be in for a rude awakening ...Read more

Holiday money gifts for kids

Business / Terry Savage /

It’s tougher than ever to find appropriate holiday gifts for children or grandchildren this year. But the coronavirus pandemic could create even more incentive to give money smart gifts that will last a lot longer than clothes or toys.

--The gift of a college education.

Given the precarious financial position of many states, I’d be careful...Read more

2021 agenda item: Alleviating college financial agony

Business / Terry Savage /

Whether you are a current college student or dealing with student loans you took out years ago, the coronavirus pandemic has created a special kind of angst. Here’s a look at how current students are being affected and some updates on what’s being proposed by the incoming Biden administration to help you deal with your existing student loan ...Read more

Biden agenda item: Alleviating college financial agony

Business / Terry Savage /

Whether you are a current college student or dealing with student loans you took out years ago, the coronavirus pandemic has created a special kind of angst. Here’s a look at how current students are being affected and some updates on what’s being proposed by the incoming Biden administration to help you deal with your existing student loan ...Read more

Weathering money winter

Business / Terry Savage /

The stock market is looking ahead to the time when COVID-19 will be wiped out by a vaccine. But until then, you and your money must survive a long winter. Hopefully, those most in need will have some help soon from a new stimulus bill. But COVID remains a problem that impacts us personally as well as the entire economy.

I often write about long...Read more

VA loans growing more popular — and no wonder

Business / Terry Savage /

Americans demonstrated their patriotism by voting, and our nation’s veterans demonstrated their love of country by fighting in wars to give us that privilege. A grateful nation created a lasting memorial to their bravery when it established VA loans in 1944 as part of the original Servicemen’s Readjustment Act, better known as the GI Bill of...Read more

Preparing for your own mortality

Business / Terry Savage /

In a time when we wear masks in public, hesitate to embrace and change plans to celebrate the holidays with family, it makes sense to consider our mortality in financial as well as spiritual terms. As the COVID-19 pandemic resurges, we are again faced with the horrible possibility of distanced goodbyes and things left undone. Perhaps you can ...Read more

The election and your finances

Business / Terry Savage /

While the U.S. election focus recently has been on coronavirus, there are some important tax implications that could impact your personal finances. No matter how the vote comes out, you might have just a few weeks to implement some changes because new taxes provisions enacted under the next Congress will likely be retroactive to January 1, 2021....Read more

 

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