Author: Michael Erst

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Hi, I’m Michael Erst, a finance writer dedicated to making money matters clear and accessible. I cover everything from investing and market trends to personal finance strategies and economic insights. My goal is to help you navigate the world of finance with confidence, whether you're managing your budget, exploring new investment opportunities, or keeping up with the latest financial news.

“He probably died waiting for you to do your lesson, but what do we know,” Duolingo joked in a statement.The rumors are true. Duolingo’s iconic mascot, known for his silly antics, has passed on.The language-learning app Duolingo announced on Tuesday that its make-believe mascot, Duo the Owl, mysteriously died and a cause of death has not been determined.”It is with great sorrow that we announce the passing of our beloved mascot, Duo the Owl,” a Duolingo spokesperson said in a statement. “For years, he tirelessly reminded millions to do their language lessons − sometimes with gentle nudges, sometimes with sheer,…

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Nearly 50% of insured Americans get surprise medical bills: StudyMore than 50% of insured Americans say they’ve gotten a surprise medical bill. Here’s what you can do about it.Straight Arrow NewsBlue Cross Blue Shield will soon begin paying out $2.67 billion to customers follow a years-long lawsuit alleging that the health insurance giant broke antitrust laws.The litigation began in 2013, when a class-action lawsuit was filed against more than 35 Blue Cross Blue Shield health insurance plans. The lawsuit claims the company broke antitrust laws by limiting market competition, resulting in increased premiums and reduced options for customers.Blue Cross Blue…

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Although most stocks made forward progress in January, a few of them bucked the bigger trend for understandable reasons. January 2025 was a bullish month for many Nasdaq-listed names. But that wasn’t the case for all of them. While the Nasdaq-100 index advanced 2.2% in January, a handful of its constituents (including a market favorite) lost quite a bit of ground. Here they are, from least bad to worst: Monster Beverage (MNST 2.66%): Down 7.3% Comcast (CMCSA 0.29%): Down 10.3% Nvidia (NVDA 2.87%): Down 10.6% Electronic Arts (EA 2.71%): Down 16% On Semiconductor (ON -8.21%): Down 17% Not every one…

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Odds of winning the Powerball and Mega Millions are NOT in your favorOdds of hitting the jackpot in Mega Millions or Powerball are around 1-in-292 million. Here are things that you’re more likely to land than big bucks.The Powerball jackpot has risen to $142 million for Monday’s drawing after no one won the top prize on Saturday.If someone matches all six numbers, they can choose a one-time cash payment of $65.8 million.There were no big winners on Saturday, as no one won either the jackpot, $2 million or $1 million prizes.A lucky player in Oregon had the first jackpot-winning Powerball…

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Biden administration announces $8 cap on credit card late feesThe Biden administration’s new rule will cap credit card late fees at $8. It’s the latest White House effort to crack down on what it calls “junk fees.”Scripps NewsThe Consumer Financial Protection Bureau is the latest government agency potentially on President Donald Trump’s chopping block.Not only did Trump fire Rohit Chopra, who headed the independent agency, on Feb. 1, but over the weekend Russell Vought, the newly installed director of the Office of Management and Budget, directed the CFPB to stop working. The agency was ordered to stop work on proposed rules, to…

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Claiming Social Security at 62 is popular strategy because it gives recipients the most checks. At the same time, it reduces the size of their checks by up to 30%. That’s because the government penalizes beneficiaries for every month they claim benefits before their full retirement age (FRA), which ranges from 66 to 67 for today’s workers. But that doesn’t mean claiming early is always the wrong decision. There are three main cases where it’s often the right call. Image source: Getty Images. 1. You cannot afford to delay benefits For retired-worker benefits, every month you delay claiming Social Security…

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The popular opinion isn’t always the correct one. In January, the average retired-worker beneficiary brought home a $1,976 check from Social Security. While this average monthly payout might not sound like much, Social Security helped to pull 22.7 million people out of poverty in 2022, including 16.5 million adults aged 65 and over. Despite the undeniably important role Social Security plays in helping aging Americans make ends meet, the foundation of this leading retirement program has been crumbling for decades. While a confluence of factors is responsible for Social Security’s worsening financial outlook, the finger of blame often gets pointed…

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Here are the cities who have hosted the most Super BowlsCities across the country vye to host the Super Bowl, but a few stand out having hosted more than most.Unsold Super Bowl merchandise is donated to charities rather than being sold at a discount.The NFL partners with Good360 to distribute the merchandise to people in need around the world.The donated items help people in need while also keeping the merchandise off the market and protecting the NFL brand.Super Bowl 59 is done, and the Lombardi Trophy is in the hands of the Philadelphia Eagles instead of the Kansas City Chiefs…

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“Vought is giving big banks and giant corporations the green light to scam families,” Sen. Elizabeth Warren wrote in a post on X. “CFPB RIP,” wrote Elon Musk. Here’s what you should know.President Donald Trump’s agenda hits speed bumpsJudges have pumped the brakes on Trump’s efforts to fast-track his policy goals.The acting director of the Consumer Financial Protection Bureau ordered staffers at the agency to stop all work via an email Saturday night after it saw multiple changes throughout the week.”Effective immediately, unless expressly approved by the Acting Director or required by law, all employees, contractors and other personnel of…

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Most of us will spend at least 40 years in the workforce, and while that sounds like a lot of time, if you ask any retiree, they’ll probably tell you otherwise. The days and weeks might pass slowly, but the years keep getting faster. That’s why it’s important not to put off retirement savings any longer. If you can afford to save for your future, it’s best to begin making regular contributions right away. You should also consider these four steps to maximize your gains. If you’re consistent, they could even make you a millionaire by 2050. Image source: Getty…

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