March 3, 2021

Day: March 3, 2021

Philip Falcone’s Second Act in Long-Term-Care Insurance Turns Ugly

Long-term care has been a troubled insurance product for well over a decade, causing financial pain to many insurers and their customers. Now, one executive’s plan to make money where others have failed has backfired.

Serious pricing mistakes loomed from the start. For policyholders, this has meant double- and even triple-digit premium-rate increases over the years. Insurers have collectively taken tens of billions of dollars of charges against earnings as they bolstered their reserves.

The difficult situation in long-term care provided an opening five years ago for Philip Falcone, a former hedge-fund manager looking for redemption. Mr. Falcone had admitted

Read More

Should You Finance an RV or Tiny Home?

RV manufacturers have been busy. With many companies sending employees to work from home during the pandemic, more Americans are moving out of crowded cities, abandoning cramped offices and apartments for big skies, open meadows and more affordable real estate.

The housing market will be changed, potentially for years to come. But while a New Yorker might be able to buy a single family home in, say, East Tennessee, for less than what they spend for a studio apartment in Manhattan, many of these big-city drop-outs aren’t opting for larger dwellings.

According to a January 2021 report, the RV

Read More

How to teach your kids about money so they understand

It’s no secret that money — how much we make and how we spend it — has a huge impact on the choices we make as adults. Young children often aren’t aware of their family’s finances, but it turns out that children can and should learn about saving and planning for their financial futures, even at a young age. And, since most kids don’t learn about personal finance in school, it’s up to parents to inform their child’s financial literacy.

What is financial literacy? Financial literacy is the ability to understand and effectively use various financial skills, including personal financial

Read More

Fauci Donates Personal Coronavirus Model To Smithsonian : NPR

Dr. Anthony Fauci holds his personal 3D-printed model of the SARS-CoV-2 virion during the “Great Americans Awards Program.”

The National Museum of American History

hide caption

toggle caption

The National Museum of American History

Dr. Anthony Fauci holds his personal 3D-printed model of the SARS-CoV-2 virion during the “Great Americans Awards Program.”

The National Museum of American History

There may be light at the end of the tunnel for the pandemic, but one piece of the virus will live on.

Dr. Anthony Fauci, who became the public face of the government’s coronavirus response with daily press conferences and media interviews,

Read More

Abbott lifts mask mandate, opens business 100%

LUBBOCK, Texas (KBTX) – Gov. Abbott has announced he is lifting the mask mandate and fully opening businesses.

From a restaurant in Lubbock, Abbott said these changes will go into effect Wednesday, March 10. Any type of business will be able to open at 100 percent capacity, but Abbott said businesses can make the decision to limit capacity or implement safety protocols, like requiring masks.

“Texas is far better positioned now than when I issued my last order in October,” said Abbott.

“People and businesses don’t need the state to tell them how to operate.”

Abbott said that

Read More

Self-employed, gig workers still waiting on PPP rules for bigger loans

Virojt Changyencham | Moment | Getty Images

The self-employed and gig workers are anxiously waiting for the Small Business Association to update guidelines to its Paycheck Protection Program, which could mean bigger loans for the group.

The Biden administration announced last week changes to how the SBA will calculate forgivable loans for sole proprietors and other small businesses without any employees. The updated formula — which will likely lead to larger loan amounts for non-employer firms, including sole proprietors and independent contractors — will be announced this week.

It’s still unclear when in the week the SBA will update its

Read More