Category: Personal Finance

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Why Getting The Appropriate Legal Guidance Can Make Your Case Easier

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Life has many challenges some of which you can handle on your own and others that might require professional interventions to resolve. Some issues related to personal injuries at work, head-on collisions, real estate transfers, and acquisition, starting a business, child custody issues, divorce matters, lawsuits, and the aftermath of a grisly road accident all require legal assistance. Lawyers are very important people in our society and they can help us resolve any legal challenge we encounter at any point in our lifetime. It is often argued that lawyers are expensive but failure to involve one can be more costly so always consult one when the need arises. This is why getting the appropriate legal guidance can make your case easier:

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401K balances Grew in 2020 despite COVID Pandemic Pressures

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the staff of the Ridgewood blog

Ridgewood NJ, There is no doubt in people’s minds that COVID-19 caused economic uncertainty.  It strained many Americans financially, but it also provided an opportunity for many to increase their 401k balances.

According to a report from LT Trust detailing the impact of COVID-19 on retirement savings, the average 401K balance increased by 30.8 percent nationally during 2020, and the average employee contribution increased by 6.12 percent. New Jersey saw in increase of  29.3% .

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Practical Tips That Will Help You Prepare For Your Upcoming Retirement

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Retiring early is the dream of many but the truth is that the dream is unachievable unless you carefully plan for your future. It’s not easy planning for your retirement but that isn’t to say that it’s impossible. With the right guidance and knowledge, you can have your future set up for you in just a few years.

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Study : New Jersey Ranks 5th in Financially Literacy

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the staff of the Ridgewood blog

Ridgewood NJ, you would never know it by what goes on in the state capitol but with April being National Financial Literacy Month and financial responsibility especially important during the COVID-19 pandemic, the free credit score website WalletHub today released its report on 2021’s Most & Least Financially Literate States, as well as accompanying videos, which analyzes financial-education programs and consumer habits in each of the 50 states and the District of Columbia. Hard to believe but New Jersey ranked  5th over all .

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A Simple Guide That Will Help You Understand Estimated Tax For Individuals Better

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If you’re starting a new business, it can become challenging trying to understand estimated taxes. Most business owners have enough issues to deal with without having to navigate into IRS grounds. Estimated tax is the technique used to pay tax on income that’s not subject to withholding. In most cases, this affects self-employed individuals. It also includes income from interest, dividends, rent, alimony, or profits from assets’ sales. The scenario is different if you’re an ordinary taxpayer. Typically, you receive salary and wages from your employer and never think about making estimated tax payments. In this guide, you’ll learn everything you need to know about estimated tax payments.

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New Jersey Man Admits Operating Illegal Bitcoin Exchange

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the staff of the Ridgewood blog

Wall NJ, A Monmouth County,  man today admitted operating an illegal bitcoin exchange, Acting U.S. Attorney Rachael A. Honig announced.

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Fed Chair Signals Shift Major Shift in Central Bank Policy Toward Crypto Currencies

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the staff of the Ridgewood blog

Washington DC, in what appeared to be a signal of change in US policy toward digital assets Federal Reserve Chairman Jerome Powell said on Thursday that  prospective digital currencies issued by central banks must accompany cash and other types of money within a flexible payment system.

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Tax Filing Time Is A Good Time To Look Ahead To Next Year

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By Jim Braun

Jim Braun is president of Tri-State Retirement (www.tristateretirement.com)

Ridgewood NJ, With tax time upon us, one message we keep hearing is that you should file as early as possible.

You may recall that last year there were numerous delays in getting tax refunds after the pandemic caught everyone, including the IRS, off guard. If you have a refund coming, the sooner you file, the sooner that refund will make its way into your bank account.

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Beware of Tax Season Cyber Scams

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Ridgewood NJ, During tax season, threat actors target taxpayers and their data in order to file fraudulent tax returns, collect refunds, and engage in other identity theft schemes. Threat actors seek out tax information, including W-2 information and personally identifiable information (PII) – such as Social Security numbers (SSNs), dates of birth, bank account or credit card numbers, and drivers’ license numbers. They heavily rely on social engineering tactics conducted through email, phone, and text messages. These social engineering scams attempt to appear or sound convincing and authentic in order to trick recipients into disclosing sensitive information or credentials for online accounts. If they can steal a target’s data and identity, they can also steal their tax refund. We share some common tax scams and recommendations to help protect your identity, data, and tax refunds.

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Global Children Financial Literacy Foundation and the “Wesley Learns Book Club”

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the staff of the Ridgewood blog

 

Ridgewood NJ, Research suggests that financial literacy has been on the decline in recent years*.

In a test of financial knowledge among young Americans, only around one third can answer even four or five basic financial literacy questions correctly.

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Run on Silver May Collapse Markets Within Weeks

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By Charles Stampul
While Congress begins hearings today to investigate the short squeeze of GameStop three weeks ago, a much larger and more significant squeeze is taking shape, putting at risk not just a few large hedge funds, but also some of the largest financial institutions in the world, if not the entire financial system itself.

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5 Mistakes That Can Blow Your Car Accident Settlement

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Getting into a car accident is always a terrible experience. Even minor fender benders can ruin your day. More serious accidents can end up completely changing your life in many different ways. Don’t let yourself continue to be victimized by a car accident beyond the initial incident. Protect yourself by avoiding these mistakes, which could negatively impact your car accident settlement.

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What You Should Know About Filing for Bankruptcy

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Declaring bankruptcy can be a daunting prospect. Be that as it may, it’s usually the only viable solution for individuals with insurmountable debt or those plunged into utter financial ruin. Filing for bankruptcy is a lengthy, complicated process. It’ll take a great deal of perseverance, effort, and transparency if you hope to rid yourself of your debts and start anew. To help you turn over a new leaf, here are the most important things to consider when declaring personal bankruptcy.

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NJ OFFICE OF HOMELAND SECURITY AND PREPAREDNESS : Financial Preparedness in Case of Emergency

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the staff of the Ridgewood blog
Ridgewood NJ, Rebuilding following a disaster can be challenging and strenuous. To recover quickly, it is important to have access to financial, insurance, medical, and other personal records. Ready.gov provides tips to stay financially prepared. These recommendations include:

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