A Federal Reserve survey shows the U.S. economy held steady during the 16-day partial government shutdown, growing moderately in most regions from October through late November.More >>
A Federal Reserve survey released Wednesday found that the U.S. economy held steady during the 16-day partial government shutdown, growing moderately in most regions from October through late November.More >>
Thursday, October 17 2013 4:40 PM EDT2013-10-17 20:40:19 GMT
(RNN) - By passing a last-minute deal on the debt ceiling, and a 16 days-late deal on the government shutdown, Congress finally got back to doing its job. So, what now? Some people may see it as the timeMore >>
With a budget passed only until January, a debt ceiling deal through February and a bunch of days off for Congress until then, the country may be back in the same situation soon.More >>
Thursday, October 17 2013 5:27 AM EDT2013-10-17 09:27:22 GMT
A last-minute deal has been struck, allowing the federal government to avoid a shutdown. A shutdown would have suspended all federal government services deemed non-essential. All federally-funded museums,More >>
Congress has passed a bill to fund the government and lift the debt ceiling, avoiding default. More >>
Sunday, October 13 2013 6:52 PM EDT2013-10-13 22:52:24 GMT
WASHINGTON, DC (RNN) - Despite the WWII Memorial being closed, members of the Million Vet March have gathered in Washington, DC to protest the government shutdown – according to media reports. "We do notMore >>
Veterans gathered at the World War II Memorial in Washington, DC to protest the government shutdown.More >>
Saturday, October 12 2013 10:44 PM EDT2013-10-13 02:44:59 GMT
People nationwide have been unable to access welfare benefits through their EBT cards Saturday. Reports on the matter indicated the issue has no connection to the government shutdown.More >>
Xerox, which handles EBT systems in several states, said Saturday night the problem that prevented people from using their cards to shop has now been corrected. More >>
(RNN) – Those buying $2 Powerball tickets for Wednesday's drawing are fantasizing what to do with the $425 million jackpot.
Buy a boat? Travel on a boat? Buy your mom a boat? Party so hard with all your new friends that you would put the Rolling Stones to shame ... on a boat?
"First thing, you should not get any new friends, you've already got enough," said Nathan Bachrach, of Simply Money.
Then take a deep breath. Don't rush into any decisions regarding your windfall.
"Emotions are a horrible tool when it comes to making money decisions," he said.
Bachrach suggests putting the money in the bank and going to a professional financial adviser – don't go crazy buying things for you and everyone else.
Paying off any debt is a good first step, and make a list of things you want to do with your winnings. Work with the adviser to make sure you have enough to live on and retire comfortably.
Managing money is not a do-it-yourself proposition. Bachrach pointed out that if training for the Olympics was easy, the athletes would be using coaches recorded on video.
"There are two things we've never learned in school: We never learned how to raise kids and we never learned how to manage money," Bachrach said. "Just because you won the lottery doesn't mean you know any more about money than you did before."
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