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They lived paycheck to paycheck before the pandemic. Then their worst nightmare came true

Finance
A man fills out paperwork while waiting for his number to be called at an unemployment event in Tulsa, Oklahoma on July 15, 2020.Nick Oxford for The Washington Post | Getty ImagesVicki Honeycutt lost her job in March, one of millions laid off in the early days of the coronavirus pandemic. To make matters worse, Honeycutt, an executive assistant at a bank, had no savings.Biweekly paychecks of around $ 1,600, after taxes, were devoted almost entirely to bills, including $ 1,100 in rent and medical expenses for her daughter, who has a rare autoimmune disorder. Honeycutt's husband, James, is a veteran with a disability that makes it difficult for him to work."I was always finagling, and we didn't have anything left over," Honeycutt, 53, said.Over the last few months, she's applied to more th...
Pringles tube tries to wake from ‘recycling nightmare’

Pringles tube tries to wake from ‘recycling nightmare’

Science
The distinctive Pringles tube is being re-designed after criticism that it’s almost impossible to recycle.The current container for the potato-based snack was condemned as a recycler’s nightmare.It's a complex construction with a metal base, plastic cap, metal tear-off lid, and foil-lined cardboard sleeve.The Recycling Association dubbed it the number one recycling villain – along with the Lucozade Sports bottle.Now Pringles' maker Kellogg's is trialling a simpler can – although experts say it’s not a full solution.The existing version is particularly troublesome because it combines so many different materials Media playback is unsupported on your device Some 90% of the new can is pa...
Ignoring this client asset may become an advisor’s nightmare

Ignoring this client asset may become an advisor’s nightmare

Finance
Caiaimage/Trevor Adeline | Getty ImagesWhen it comes to clients who own permanent life insurance with cash value, financial advisors have both an asset and a liability.On the one hand, clients appreciate having a financial advisor who can analyze the contract and ensure that it still meets their goals. "It's a perfect way to build relationships with clients, especially when it's a policy you didn't sell, and you look like a rock star," said Thomas J. Henske, a certified financial planner and partner at Lenox Advisors in New York.More from FA Playbook:Financial advisors are more stressed out than their clientsAs a financial advisor shortage looms, colleges fill the gapAdvisors create a game plan for this retirement expenseHowever, if an advisor chooses to ignore the insurance contract, you ...
As a voodoo-practicing advisor is convicted, here's how to avoid the nightmare of bad money advice

As a voodoo-practicing advisor is convicted, here's how to avoid the nightmare of bad money advice

Finance
We've all heard of voodoo economics, but voodoo investing? Noted Washington, D.C.-area radio personality and former financial advisor Dawn Bennett was convicted earlier this week of fraud, found to have bilked 46 listeners, advisory clients and friends who trusted her out of some $ 20 million in a Ponzi scheme. Prosecutors say she used voodoo in an otherworldly attempt to escape justice. Founder and CEO of Bennett Group Financial Services (now a defunct firm) and the host of weekly radio program "Financial Myth Busting with Dawn Bennett," Bennett reportedly used investor money to pay Hindu priests in India for ceremonies to w...