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Casual Stroll Leads to “Once-in-a-Decade” Discovery of 900-Year-Old Coin Hoard

July 30, 2024 by Martha A. Lavallie

Image credit: ARCHEOLOGICKÝ ÚSTAV AV ČR

In a stunning stroke of luck, a woman’s casual walk in the Czech town of Kutná Hora led to the discovery of a massive hoard of silver coins dating back over 900 years. The find, which archaeologists are hailing as one of the most significant of the last decade, offers a fascinating glimpse into the political and economic realities of 12th-century Bohemia.1 The Discovery The woman, who remains anonymous, stumbled upon the treasure entirely by chance. While out for a stroll, she spotted a shattered ceramic pot on the ground. Upon closer inspection, she realized it contained a glimmering hoard …

10 Income Streams You Can Enjoy Tax-Free in 2024, According to the IRS

July 30, 2024 by Nancy Maffia

Image Credit: Jack_the_sparow/Shutterstock

A whopping 56% of Americans say they pay too much in federal income taxes, according to a 2022 Pew Research Center survey. The good news? Not all income is subject to Uncle Sam’s greedy hands.1 As we head into the 2024 tax season, let’s explore 10 types of income the IRS thankfully won’t tax. 1. Financial Gifts That Keep on Giving Generous financial gifts from loved ones can pad your bank account without padding your tax bill. In 2023, the annual federal gift tax limit is a hefty $17,000 per recipient.(ref) So go ahead, enjoy that birthday cash guilt-free! 2. …

Americans Work Less When Given $1,000 a Month, National Study Shows

July 26, 2024 by Martha A. Lavallie

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An experiment backed by OpenAI CEO Sam Altman has revealed that providing Americans with a monthly $1,000 universal basic income (UBI) leads to a reduction in work hours.1 This finding has ignited fresh debates about the potential impacts of implementing UBI policies on a larger scale. What is Universal Basic Income? Universal Basic Income, or UBI, is a government program that provides regular, unconditional cash payments to all citizens, regardless of their employment status or income level. The concept of UBI isn’t new – it’s been floating around economic and political circles for decades. But why has it gained so …

America’s 10 Worst State Economies in 2024

July 22, 2024 by Nancy Maffia

Image Credit: Victoria Ditkovsky/Shutterstock

As states grapple with varied economic outcomes in 2024, many are still balancing on the edge of recovery. The International Monetary Fund recently increased its U.S. GDP growth forecast from 2.1% to 2.7%.1 This promising sign comes after a challenging few years, yet some states are still struggling economically. Here are the ten states experiencing the most significant economic hurdles. 10. Vermont Sluggish Growth and Pension Woes: Vermont’s economy has been hindered by sluggish growth and significant pension obligations. The state’s cumulative GDP growth from 2012 to 2022 was a modest 38.90%. Vermont’s struggle to attract and retain a younger workforce …

10 Reasons Why You Should Reconsider Retirement

July 21, 2024 by Martha A. Lavallie

Image Credit: Ground Picture/Shutterstock

Is retirement still the ultimate goal, or are there compelling reasons to continue working? In 2023, nearly one-fifth of Americans aged 65 and older were still employed. This trend isn’t just about numbers; it’s about an increasing earning power, with the average hourly wage for these older workers reaching $22 in 2022, a jump from $13 in 1987.1 The traditional concept of retirement is being challenged as more and more Americans choose to remain in the workforce. Here are valid reasons why you might want to reconsider retirement. 1. Mental Stimulation & Purpose Retirement can lead to a lack of …

The Rise of ALICE in America: A Closer Look at the Financial Struggles of Working Households

July 21, 2024 by Martha A. Lavallie

Image Credit: fpphotobank@gmail.com/Deposit Photos

In the wake of June 29th’s impactful Poor People’s Low-Wage Workers’ Assembly Morale March on Washington D.C., the spotlight has intensified on a growing demographic in the U.S. known as ALICE.1 Coined by the United Way, ALICE stands for Asset Limited, Income Constrained, Employed.2 This term sums up the struggles of a major portion of the American workforce—individuals who, despite holding jobs, find themselves unable to make ends meet due to the rising costs of basic necessities like food, housing, healthcare, childcare, and transportation. Weight of Socioeconomic Factors on ALICE Households New data from United For ALICE reveals a troubling …

The Bitter Pill to Swallow is 2024’s Drug Price Increases

July 20, 2024 by Martha A. Lavallie

Image Credit: MargJohnsonVA/Shutterstock

According to a recent analysis, over 700 brand-name drugs saw price increases in January 2024, with an average rise of 5.4%.1 This trend, while consistent with previous years, comes amid growing scrutiny of drug pricing practices and new legislation aimed at curbing costs. Eight out of the ten drugs selected for Medicare price negotiation in 2026 under the Inflation Reduction Act saw price increases in January 2024. As policymakers, healthcare providers, and patients grapple with the implications of these price changes, understanding the factors driving these increases and their potential impact on healthcare costs becomes increasingly crucial. The Numbers Don’t Lie …

Retirees with $1 Million Savings May Run Out of Money Quicker in These States

July 17, 2024 by Martha A. Lavallie

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Picture this: you’ve worked hard your entire life, diligently saving for retirement, and you’ve finally amassed that coveted $1 million nest egg. You’re ready to kick back, relax, and enjoy your golden years without a care in the world. But hold on just a minute—a new study reveals that even a million bucks might not be enough to sustain you through retirement, depending on where you call home.1 Let’s look at the details and see what this means for your retirement plans. The States Where Your Savings Disappear Fastest According to a recent study by GoBankingRates, retirees in certain states …

Unclaimed $1 Billion Mega Millions Prize Awaits Winner

July 15, 2024 by Nancy Maffia

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Who’s sitting on a billion-dollar secret? Lottery officials in New Jersey are looking for the person who won a huge lottery prize. In March, someone won $1.13 billion in the Mega Millions lottery jackpot in March. But so far, no one has come forward to claim the money.1 Missing Ticket or Forgotten Fortune? It’s a mystery why the winner hasn’t claimed the prize yet. Maybe they don’t know they won, or maybe they lost the ticket. It’s also possible they just haven’t gotten around to it yet. If the winner doesn’t claim the prize by next March, they will lose …

14 Government Programs to Help Americans Who are Struggling Financially

July 15, 2024 by Nancy Maffia

Image Credit: Daniel Tadevosyan/Shutterstock

In 2021, government assistance programs lifted 45.4 million Americans out of poverty, according to the U.S. Census Bureau.1 In these challenging economic times, millions struggle to make ends meet. But there is hope – the U.S. government offers a wide array of programs designed to provide a helping hand to those facing financial hardship. These initiatives form a vital social safety net, from nutrition assistance to housing subsidies to healthcare coverage. Here are 14 key government assistance programs to help low-income individuals and families weather financial storms and get back on their feet. 1. Supplemental Nutrition Assistance Program (SNAP) Formerly …