Barring additional suspensions from Congress, student loan payments will resume this fall after a three-year forbearance that began as part of the Coronavirus Aid, Relief, and Economic Security Act. Fidelity Investments studied nearly 60,000 student debt holders and found that roughly one in five borrowers report allocating nothing to their 401.
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Long Island resident Jason Kurland, age 49, of Dix Hills, was sentenced to 13 years in federal prison in US District Court in Brooklyn on Thursday, June 15. According to prosecutors, Kurland was a partner at a Long Island law firm between 2018 and 2020, and built a reputation for representing lottery jackpot winners across the United States. In 2018, Kurland took on…
The U.S. Attorney for the Western District of North Carolina, Dena J. King, issued the following news release on June 20, 2023:. A criminal indictment has been unsealed in federal court in Asheville, charging four individuals with allegedly executing a multi-million dollar bank fraud scheme, announced Dena J. King, U.S. Attorney for the Western District of North…
Financial professionals still favor tried and true investments
Financial professionals are interested in recommending alternative investment vehicles for their clients but are concerned about the lack of liquidity and overall cost associated with those investment vehicles.
ESG rule needed to counter ‘chilling effect,’ DOL says
The Department of Labor’s ESG rule is needed to correct the “chilling effect” a previous Trump administration rule placed on those environmental, social and corporate governance investment options, U.S. attorneys argue.
The left and the right both agree Social Security and Medicare need reform. Reader K writes, "Those who work the hardest in our country are the same people funding the Social Security Trust Fund and are still paying into the Medicare fund even when they are enrolled in Medicare and receiving Social Security. "Many of those higher-income people found out just how…
The U.S. Securities and Exchange Commission and Binance have reached an agreement in court that lets the world's largest cryptocurrency exchange continue to operate in the United States as it battles SEC fraud charges. The SEC alleges Binance broke U.S. law by operating as an unregistered securities exchange. As a result, the SEC asked that the assets of…
The benefits of engaging through philanthropy
The direction of my life has been forever changed by the relationships I’ve made through work with charitable initiatives.
After 10 consecutive interest rate hikes meant to squeeze down inflation, the Federal Reserve on Wednesday held steady at a benchmark rate of between 5 and 5.25%, indicating that the aggressive intervention has yielded results and the central bank is easing off. Let's hope this pattern holds, because the consequences of too much harsh medicine could be more…
The Long Islandâ Lottery Lawyerâ who fleeced his multi-million-dollar jackpot winners drew an unlucky 13 years in prison Thursday, when a Brooklyn judge ordered him locked up in his fraud case. Jason Kurland, 49, was convicted at trial last year of steering winnersâ money into his own merchant cash advance businessâ and of losing millions of their funds in a Ponzi…
This week, the Federal Reserve Board has a scheduled meeting to decide what to do about interest rates. The average family is still paying about $340 more for goods per month than last year. Unexpected events like the past weekend's bridge collapse in Philadelphia can cause prices to increase.
Home buyers looking for mortgage rates to stabilize or even drop got good news Wednesday, as the Federal Reserve announced a pause in its monthslong campaign of interest rate hikes. The Fed controls the federal funds rate, a metric that directly affects short-term lending. After determining rising inflation wasn't just a temporary feature of the…
The 2nd U.S. Circuit Court of Appeals in Manhattan said in a two-page order that Guo Wengui's lawyers had failed to convince a three-judge panel that Judge Analisa Torres made a clear error in refusing to accept a $25 million bail package proposal in April. Prosecutors said he fleeced thousands of investors in too-good-to-be-true offerings that promised…
SECURE incentivized retirement saving but added tax implications
The passage of the SECURE Act in 2019 and SECURE 2.0 in 2022 incentivized people to save for retirement but added some tax implications that advisors and clients must consider when planning for the post-employment years.
Most people know that they may be eligible to receive Social Security benefits in retirement, based on their work earnings record. Social Security is normally available as early as age 62, but the longer you delay, your benefit increasesâ until age 70. Note, this strategy is only available if the higher-earning spouse is already taking his or her Social Security…
The Institute for Fiscal Studies has estimated that 90 percent of younger workers are saving too little for a comfortable retirement. That comes as no surprise given the cost-of-living crisis and the decade-long stagnation in real wages. But younger workers have a significant advantage over their older colleagues in terms of retirement savingâ yes, it's…
The opportunity for RIA acquisitions is $3.7 trillion, according to Cerulli.
Retirement confidence of American workers dropping, study says
The retirement confidence of American workers dropped significantly last year, the largest, one-year drop recorded since 2008, according to a recent study.
Working with the LGBTQ+ market: 8 tips for success
When targeting the LGBTQ+ market, advisors can highlight several key selling points to attract and serve this community effectively.
With lawsuits against Binance and Coinbase, the Securities and Exchange Commission has targeted some of the largest remaining players in the crypto space, accusing the former of outright fraud and misuse of funds and the latter of failing to register as a securities broker. If you're swayed by the argument that crypto assets are currency alternatives and not…
