Unemployment Forces Nigerians to Tap into Pension Savings for Financial Relief

Lagos, Nigeria – In the face of rising unemployment rates in Nigeria, more individuals are turning to their pension savings as a means of financial support for day-to-day expenses. The trend has become increasingly common among both public and private sector workers who have lost their jobs amid the current economic challenges. According to data from the National Pension Commission, a significant number of Retirement Savings Account (RSA) holders have requested access to 25 percent …

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‘Loud Budgeting’ Trending on Social Media as a New Approach to Financial Goals

New York, NY – As we welcome the new year, many people are looking for new strategies to achieve their financial goals. This year, a social media trend known as “loud budgeting” has gained popularity, particularly on TikTok. But what exactly is loud budgeting and how can it help you better manage your money? Loud budgeting is a money-saving technique that involves being vocal about declining social opportunities that could jeopardize your financial goals. This …

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Social Security overpayments lead to financial crises for Americans

Atlanta, Georgia – Numerous Americans are facing financial hardships as Social Security overpayments continue to impact their lives. With the sudden loss of vital monthly payments, beneficiaries are finding themselves at risk of homelessness. One distressing case involved a mother who lost her apartment after the Social Security Administration (SSA) withheld her benefits due to an overpayment issue. The mother, who is legally blind, saw her $1,700 disability check taken away, leaving her unable to …

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“Retirement” Crisis: Older Americans Forced Back into Workforce due to Financial Struggles

New York, NY – Hope Murray, a retiree with a diverse career history, found herself reentering the workforce at the age of 80 due to rising living costs. After enjoying a life of leisure in San Diego, Murray took up a job handing out samples at Costco to make ends meet. Reflecting on her $18-an-hour paycheck, Murray expressed gratitude for the financial stability it brought, allowing her to cover her expenses without dipping into savings. …

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Security Benefits: Expert Tips for Financial Literacy Month from KYLLE’ D MCKINNEY

Montgomery, Alabama – As we enter Financial Literacy Month, it is crucial to consider how we can better prepare for our financial futures, including understanding the ins and outs of Social Security. Financial literacy plays a significant role in helping individuals make informed decisions about their money, and knowing how Social Security factors into retirement planning is essential. One key aspect to consider during Financial Literacy Month is the importance of understanding when and how …

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Financial Literacy Survey Reveals High School Students’ Interest in Personal Finance Education

New York, USA – Jordan Belfort, author of “The Wolf of Investing,” recently discussed the alleged politicization of financial education in New York schools. The push for greater financial literacy among high school students is evident, as a survey conducted by Intuit revealed a strong interest in learning about personal finance among U.S. high school students. However, access to such courses remains limited, as many parents may feel reluctant to teach their children about financial …

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Pension Benefit Guaranty Corporation Approves $279.3M Financial Assistance for UFCW Local 152 Retail Meat Plan

Mount Laurel, New Jersey – The Pension Benefit Guaranty Corporation has granted approval for special financial assistance to the United Food and Commercial Workers Union Local 152 Retail Meat Pension Plan, benefitting over 10,000 participants in the service industry across New Jersey, Pennsylvania, and Delaware. Facing a projected insolvency by 2029, the plan will receive approximately $279.3 million to ensure the stability and longevity of the fund. Established under the American Rescue Plan Act of …

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The Financial Toxicity of Cancer Patients in the U.S.: High Costs and Rising Stress Suffered by 44-Year-Old Mother of Three

Atlanta, Georgia – April Donaldson, a 44-year-old mother of three and cancer patient, is among the millions of Americans facing the overwhelming financial burden of battling the disease. In the U.S., patients not only cope with the physical hardships of treatments and complications, but also grapple with the considerable costs of care that their insurance may not fully cover. According to a 2022 article in JAMA Oncology, the term “financial toxicity” is used to describe …

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Social Security Trust Fund Exhaustion Looms: Congressional Report Urges Immediate Action amid Financial Threats

Washington, DC – A report for Congress suggests that immediate changes in income increases and benefit reductions could help strengthen Social Security’s financial outlook. The report warns that waiting until the trust fund is depleted in about 10 years would necessitate more drastic measures to sustain the program. The report, from the Congressional Research Service, addresses the imminent depletion of the fund that has accumulated over decades, leading to a projected scenario where the program …

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Seniors Facing Financial Pressure Turn to Workforce in Record Numbers

Palm Harbor, Florida – Larry Gesick, a 77-year-old Vietnam veteran and great-grandfather, starts his day at 5 a.m., heading to work at Publix. Despite being retired initially, financial constraints have led him back to the workforce. His story reflects a growing trend of older adults re-entering work due to economic pressures. The rising cost of living, including groceries, insurance, and housing expenses, has pushed many seniors like Gesick to continue working. In Florida, where retirees …

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