DETROIT FREE PRESS -
“Decisions about Social Security give people fits, which isn't surprising. It's a complex program. People must make long-term decisions without knowing how the future will unfold. Plus, the Social Security Administration doesn't always explain the rules clearly and consistently. No wonder many Americans struggle with questions such as when to start taking retirement benefits — as early as age 62 or as late as 70? Those are some of the issues raised by a recent Government Accountability Office report. The watchdog agency reviewed Social Security pamphlets, sat in on meetings with the public and assessed studies and surveys. Many Americans, the GAO concluded, still make uninformed decisions about Social Security.
Here are some common mistakes the report referenced.”
“This month federal regulators fined Wells Fargo $185 million for opening checking and credit card accounts on behalf of customers who had no idea that was happening. The bank has promised to try to make restitution. But that's a lot harder than it sounds. A big question is how to compensate people whose credit scores were hurt by what the bank did. Regulators say that over a five-year period some 2 million credit card and deposit accounts were opened that may not have been authorized by the bank's customers. And though no one knows for sure, it's almost certain that the accounts had a big impact on customers' credit scores.”
Read the full article.
CNN Money -
Yahoo (YHOO, Tech30) confirmed on Thursday data "associated with at least 500 million user accounts" have been stolen in what may be one of the largest cybersecurity breaches ever. The company said it believes a "state-sponsored actor" was behind the data breach, meaning an individual acting on behalf of a government. The breach is said to have occurred in late 2014.
Daily money management (DMM) programs provide personal financial assistance to older Americans who can no longer handle certain aspects of money management. Whether an older person needs comprehensive help or just a monthly reminder to pay bills, these programs can mean the difference between living independently and residing in a nursing home. DMMs also offer relief to family members who are providing care to their older parents or relatives. (For more tips on how to assist an elderly relative with their finances, see Nolo's article Helping Elders Manage Money & Finances.) Read More...
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Jennifer is committed to helping her clients as well as other folks improve their daily financial circumstances by providing simple financial solutions.