The Department of Energy (DOE) recently released the 2014 Wind Technologies Market Report, providing a comprehensive update on the state of wind power within the US and the challenges that lie ahead. The report shows that while US wind power capacity has been increasing, the lack of a coherent and comprehensive governmental policy will likely
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Who needs scratch-off lottery tickets and Powerball? Some credit unions are offering a program that allows you to win prizes as you save your money, at no risk to you. Not surprisingly, the program is called Save to Win.
The program was developed in Michigan in 2009 as an innovative way to encourage lower- and
The near-term future for commodities looks grim and the recently released “Commodity Markets Outlook, July 2015” from the World Bank reinforces this point. The second quarter of 2015 saw most commodities drop by 2% in overall non-energy commodity price indices. Oil prices were actually up slightly during the reporting period, but have taken a recent
Can you see the day where the average airline trip costs more in taxes and ancillary charges than it does in the actual fare? It is already possible to do that given the array of fees that we pay along the way.
According to a recent report by consulting groups IdeaWorks and CarTrawler, in 2014,
Rapper 50 Cent is currently going through the unpleasant experience of personal bankruptcy. That’s right, the man named after money, the man who sang, “Have a baby by me baby be a millionaire,” is now in bankruptcy court. Like many before him in the entertainment industry, overspending and lifestyle issues put 50 Cent (real name:
Love or hate them, you cannot deny that the Consumer Finance Protection Bureau (CFPB) is doing its job with gusto. The CFPB has taken on multiple large companies and financial institutions, levying heavy fines like the nearly $800 million fine against Bank of America. We can now add Citibank to the growing list.
Citigroup will
The Employee Retirement Income Security Act (ERISA) was enacted in 1974 primarily to set standards for private pension programs. Prior to ERISA, the management of some large pension funds had been indulging in questionable investments and loans. ERISA was enacted to make sure that pensioners get the benefits that they deserve from their fund contributions.
If you are working with a financial advisor, how much do you value his or her input? If you were forced to choose, what would you be willing to give up instead of your financial advisor? Coffee? Dessert? Your doctor?
We admit that this is an odd question, but the folks at the insurance and
The pitch is very appealing to fiscally conservative seniors. Earn up to 8% on your investment with a guarantee not to lose money. Sounds too good to pass up, doesn’t it?
Welcome to the world of indexed annuities. These financial vehicles are sold by insurance companies and target the risk-averse investor or retiree. Indexed annuities
How do you go from being on top of the world with a multimillion-dollar contract to filing for bankruptcy? By spending like it is never going to end. Former football superstars are finding that out the hard way.
Studies have shown that a high percentage of NFL players declare bankruptcy after their playing days, and
Benefits for Social Security and traditional pensions are apportioned very differently. With traditional Social Security, your benefits are calculated based on your work record and supported by taxes removed from your salary during the course of your working life. With pensions, the company or government entity you worked for puts aside money in a fund
Now that the U.S. is among the world leaders in oil production, does it make sense to retain the ban on U.S. oil exports? These bans were imposed in the mid-1970s in response to the oil embargo from the Organization of Petroleum Exporting Countries (OPEC). At the time, the U.S. was highly dependent on oil
Home inventories are one of those things everyone knows they should compile but few people actually end up completing. Creating a home inventory can be a very long and tiresome process, which is why so many people avoid them.
Having an accurate inventory allows you to have some peace of mind should anything terrible ever
Unless you have been in an isolation tank for some time, you know that Donald Trump is running for President of the United States. He of the iconic hair is particularly sensitive to discussions about bankruptcy, as his operations have declared bankruptcy multiple times. While the Donald may not like it, it’s fair to ask
“Acts of God”, for insurance purposes, are defined as events that occur through natural causes and could not be avoided through the use of caution and preventative measures. In essence, the phrase “Acts of God” refers to natural disasters.
The phrase generally brings to mind hurricanes, tornadoes, earthquakes, hail, or floods. However, the lines can
A land trust is a type of revocable living trust designed for only one purpose – to hold title to real estate. Usually, they are created to provide some level of privacy and/or protection to the landowners.
A trustee is chosen (typically a corporate entity), and beneficiaries make their wishes known to the trustee with
It is a hectic and bittersweet time as your children head off to college. There are so many issues to consider that it is easy to forget one important aspect — insurance.
Insurance policies and coverage will generally change once your children are no longer under your roof. However, with some planning, those changes may
Retirement is approaching. Do you have a comprehensive overview of your retirement funds and how you will manage them when you actually do retire? A surprising number of people do not know much about their retirement funds other than that they exist. Some don’t even realize how many sources of retirement funds they have. This
Ah, summertime. The weather warms up, the flowers bloom, and the flocks of home improvement scammers return for their annual summertime gathering.
Like other unwanted pests, shady home improvement contractors tend to show up in the spring and summertime offering services ranging from driveway sealing to chimney repair to roof replacement to a complete home
States across the nation are unable to fund all of the pensions owed to retired state workers. The national total of unfunded state liability for these pensions reached a staggering $4.7 trillion in 2014, the highest amount ever. As citizens who continue to be taxed for state wages and expenses, we may rightfully wonder how
Solar energy seems to be reaching a mainstream tipping point worldwide. While solar power currently makes a small contribution to the world’s energy production (accounting for 0.5% of global electricity demand in 2011 according to the Center for Climate and Energy Solutions), the percentages are growing rapidly. Within the U.S., the amount has grown from
Banks constantly look to gain the loyalty of new customers. One great place for banks to find these ideal, new customers is at colleges, universities and other post-secondary educational institutions.
Students Make Easy Targets for Excessive Fees Unfortunately, students do not pay much attention to their finances, especially when it comes to the fine print
Pack your bags and grab the kids. The vacation of your dreams is about to begin. Just make sure you have properly secured your home before you head for the beach/mountains/jungle or you may return to a nasty surprise.
Secure All Windows and Doors –
Keeping your home locked up will deter most potential
The massive salaries and endorsements of sports stars do not guarantee a comfortable life — evidence suggests the opposite is true for many pro athletes. Sports Illustrated estimated that a staggering 80% of retired NFL players end up broke within the first three years after retirement. Fortune magazine cites research from the National Bureau of
Celebrities and money management don’t always go together well. From the entertainment field to athletes to reality TV stars, celebrities arrive at their wealth and fame armed with a spectrum of spending habits and financial skills. Some inherently know how to handle their finances, and others hire trusted people to manage their funds for them.
Every year, the Tax Foundation compares the total amount of taxes paid in America and the amount of spending on the necessities of food, clothing, and shelter. In most recent years, the Tax Foundation has concluded that Americans spend more on taxes than on necessities — and 2015 is no different.
The Tax Foundation projections
Antoine Walker had the world by the tail in 1996. He was coming off a NCAA championship season with the Kentucky Wildcats and was chosen by the Boston Celtics as the sixth pick overall in the 1996 draft. Fourteen years later, he declared bankruptcy with assets of $4.28 million and $12.74 million in liabilities. Walker
You should be enjoying the fruits of your labor in your later years, not worrying about how to pay back debt. Unfortunately, too many seniors find themselves with high levels of debt and uncertainty about their future.
If you are in this situation or heading that way, consider these steps to reverse your slide into
A QTIP in the financial field refers to Qualified Terminable Interest Property, a definition used in forming a special type of trust. QTIPs are properties such as lifetime income interests that qualify for the marital deductions on estate taxes.
There are three primary purposes to a QTIP trust:
Direction of Assets After Surviving Spouse’s Death
Tax Freedom Day is the day when our collective income as a nation is enough to pay our collective federal and state taxes for the year. Considered in that respect, all of the income we earn after that point may be considered “tax-free.”
Tax Freedom Day is calculated in April of each year using projections
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