Things To Do In SW Florida

Don’t count on your bank to replace your money if you’ve been taken by a scam. It all depends on the bank’s investigation of how the money was removed. And most major banks are taking a tough line on reimbursements these days. So if you were scammed into giving out your PIN or transferring money, the odds are you’re out of luck.

The key difference between a fraud and a scam is whether you authorized the payment. You can authorize a payment by sharing your password or the one-time passcode a bank sends, or by sending a wire or check. Fraud is when someone uses your account without your authorization.

Americans lost nearly $9 billion to fraud and scams in 2022. About one-quarter of those losses came when someone impersonated a trusted person or institutional official (such as a representative of the IRS or even a bank’s fraud department) to get the victim to send money immediately. Or they can make voice-altered requests to elders pretending to be their grandchild being detained in jail until the victim can send the “bail” money. read more

Jordan Rau and Reed Abelson |  KFF Health News (TNS)

Thousands of readers reacted to the articles in the “Dying Broke” series about the financial burden of long-term care in the United States. They offered their assessments for the government and market failures that have drained the lifetime savings of so many American families. And some offered possible solutions.

In more than 4,200 comments, readers shared their struggles in caring for spouses, older parents, and grandparents. They expressed anxieties about getting older themselves and needing help to stay at home or in institutions like nursing homes or assisted living facilities.

Many suggested changes to U.S. policy, like expanding the government’s payments for care and allowing more immigrants to stay in the country to help meet the demand for workers. Some even said they would rather end their lives than become a financial burden to their children.

Many readers blamed the predominantly for-profit nature of American medicine and the long-term care industry for depleting the financial resources of older people, leaving the federal-state Medicaid programs to take care of them once they were destitute. read more

Jeff Ostrowski |  Bankrate.com (TNS)

Many people view debt as the financial enemy and strive to pay it down as quickly as possible.

That strategy is a wise one for high-interest obligations like credit card balances, but when it comes to mortgages, the math isn’t as clear-cut. You might be better off putting those payoff funds toward investing, some experts say, while others believe it’s better to unload your debt, then focus on investments.

As you weigh your options, here’s what to consider.

Should I pay off my mortgage or invest?

Questions to ask:

—Do I have sufficient emergency savings?

—Am I putting away enough for retirement?

—How much other debt do I carry?

—What are my prospects for increasing my income?

—What moves (if any) am I looking to make in the next year? In five years?

—How does my mortgage rate compare to expected portfolio returns?

Because of this, some financial advisors believe you should leverage your mortgage rather than eliminate it. Take out that 30-year loan, keep it for as long as possible and devote extra cash flow to investments or other goals. read more

By Melissa Lambarena | NerdWallet

After the high-spend holidays, it’s a good time to take inventory of those 2023 financial decisions — the good and the bad.

Perhaps you could have saved more money, paid off debt or taken that trip. Reflect on where your money went and the expenses that got in the way. And, just as you might intend to change your diet or workout plan in the new year, resolve to make changes that will allow you to meet financial goals. A few money moves can add up in savings over the year.

Here’s how to potentially keep more money in your pocket in 2024.

1. Update your budget

Review your budget for opportunities to cancel unused subscriptions and swap products or services you won’t miss for less costly alternatives. Comparison shop for better deals on expenses like medications, supplements, streaming services and others.

Also consider what’s going to be different in 2024, says Melinda Perez, an accredited financial counselor at Meli The High Flyer, a financial counseling and coaching website. For instance, if you’re starting a family or paying for a large celebration, do research on the projected costs and include those in the budget. Continue to check in with your budget quarterly to make adjustments wherever necessary, Perez suggests. You can avoid losing money if you can spot any problematic expenses ahead of time. read more

By HALELUYA HADERO and DAVID BAUDER (Associated Press)

NEW YORK (AP) — The New York Times is striking back against the threat that artificial intelligence poses to the news industry, filing a federal lawsuit Wednesday against OpenAI and Microsoft seeking to end the practice of using its stories to train chatbots.

The Times says the companies are threatening its livelihood by effectively stealing billions of dollars worth of work by its journalists, in some cases spitting out Times’ material verbatim to people who seek answers from generative artificial intelligence like OpenAI’s ChatGPT. The newspaper’s lawsuit was filed in federal court in Manhattan and follows what appears to be a breakdown in talks between the newspaper and the two companies, which began in April.

The media has already been pummeled by a migration of readers to online platforms. While many publications — most notably the Times — have successfully carved out a digital space, the rapid development of AI threatens to significantly upend the publishing industry. read more