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Online sales are nearly 15% of retail sales, a share that’s higher than pre-pandemic, which means more opportunities for “porch pirates” to strike.
The annual amount lost to package theft is an estimated $19.5 billion, according to a report.
There are some things you can do to protect against package theft, experts say.

Andresr | E+ | Getty Images

You may not be the only person eager for packages to arrive at your house.
During the holidays, as the volume of home deliveries surges due to gift buying and giving, so does the chance that so-called porch pirates will grab parcels right off your front step, experts say.

Over the last year, an estimated 260 million delivered packages were stolen, according to a report from SafeWise, an online guide to security and safety products. A year ago, the estimate was 210 million.
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“Package thefts unfortunately are on the rise, perhaps in part because of the increase in online shopping that started with the pandemic in 2020,” said Teresa Murray, a consumer watchdog for U.S. PIRG, a nonprofit consumer advocacy research group.

Online sales remain elevated since 2020

Indeed, in the second quarter of 2020, just as the pandemic took hold in the U.S., online sales jumped to 16.4% of all retail sales, up from 11.9% in the previous quarter, according to the Federal Reserve Bank of St. Louis. While the share is down to 14.8% as of the third quarter of this year, it remains higher than pre-pandemic. 
Add in the expected holiday shipping frenzy that hits every December, and there could be more packages disappearing this month than ever. The total annual lost to this type of theft is an estimated $19.5 billion, according to SafeWise.

“Anecdotally, police and sheriff’s departments in communities across the country have reported that porch pirates have been a huge problem the last several weeks,” Murray said.
“This could be in part because many folks have returned to offices at least part time this year, compared with the last two years,” she said. “And, since everyone knows there’s an avalanche of deliveries this time of year, there’s every reason to believe the bad guys use this as an opportunity.”

It’s a ‘very low risk and very low skill’ crime

On top of there being more opportunities, it’s a fairly easy crime to commit, said Ben Stickle, a criminal justice professor at Middle Tennessee State University who studies package theft.
“The other aspect of this crime that makes it unique and likely to continue increasing is that there’s very low risk and very low skill involved,” Stickle said. “It takes no skill to walk up and steal a package.”

How to guard against package theft

There are ways to guard against porch pirates. While security cameras can help, they aren’t always a deterrent — which means it’s worth taking other steps as well to ensure the safe arrival of your parcels.
If possible, you should sign up to receive an email or text message when your package is supposed to arrive and when it’s actually delivered, Murray said. Each of the major delivery services — the U.S. Postal Service, UPS and FedEx — lets you sign up for the notifications. If you’re ordering on Amazon, the notifications are generally automatic.

However, this also means you need to keep an eye on your email and texts. “Checking your email once a day or whatever doesn’t cut it,” Murray said.
Once you receive the delivery alert, fetch the package immediately or call a neighbor who’s home to retrieve it. “You don’t want packages sitting outside for hours, whether day or night,” she said.
You also could try scheduling the delivery for a day and time you know you’ll be home, Stickle said. “Or get it delivered it to an alternative address like work or a trusted neighbor,” he said.

Alternatively, you can pick up your package from, say, a UPS or FedEx store or an Amazon Hub Locker, instead of having it delivered. Sometimes you can make the choice after your package has shipped, Murray said.
“In other cases, you need to select this option when you make the purchase or before it’s shipped,” she said.

If your package gets stolen, contact the shipper

If your package ends up stolen despite your efforts to prevent the theft, there are some things you can do.
For starters, you can reach out to the retailer you made the purchase from. “They’re not required to replace the item or give a refund, but they often will,” Stickle said. 
You also could try requesting a refund from the delivery company if that doesn’t work, although they often require the shipper, not the recipient, to file a claim, according to ConsumerReports.org.
“I also encourage people to reach out to the police, but only about 5% to 8% do that,” Stickle said.

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Domino’s will roll out 800 custom-branded 2023 Chevy Bolt electric vehicles at locations across the U.S. in the coming months.

Despite the encouraging signs that the economy is throwing our way, the lingering fear of a recession occurring in 2023 has not left the market. Amid this uncertainty, a longer-term outlook will help investors decide the best course to build their portfolios. To help the process, here are five stocks chosen by Wall Street’s top analysts, according to TipRanks, a service that ranks analysts based on their track record.

Dentsply Sirona

In the past few years, including 2022, DENTSPLY SIRONA (XRAY), a manufacturer of professional dental products and technologies, has been managed by a string of teams which have delivered suboptimal operational executions. This had a strong hand in the significant value depreciation of the stock this year, thus far.

Nonetheless, Barrington Research analyst Michael Petusky remains bullish on DENTSPLY. “While 2022 has been a semi-disaster both operationally and for shareholders, it is our view that several items are likely to be more favorable (or at least less awful) in FY/23 (and beyond) than they were in FY/22 including FX headwinds, supply chain challenges, China, and top-line comparisons (which will be far easier in FY/23 than in FY/22),” observed the analyst.
At first glance, DENTSPLY’s balance sheet, given the third quarter cash and cash equivalents of $418 million against a total debt of $1.98 billion, looks highly leveraged. However, the company has reduced its debt from $2.03 billion on a sequential basis. Petusky expects further debt reduction, to about 1.4 billion, over the next 12 months. (See DENTSPLY SIRONA Dividend Date & History on TipRanks)
Based on his observations, the analyst reiterated a Buy rating on XRAY stock with a price target of $40.
Importantly, Petusky comes 871st among more than 8,000 analysts tracked on TipRanks. In the past year, 51% of his ratings have been successful and each rating has generated an average of 7.5% returns.

Oracle

The next on our list is IT giant Oracle (ORCL), which reported strong results for second-quarter fiscal 2023 last week. The solid execution exhibited by the company against a difficult economic backdrop, especially for the tech sector, managed to impress several Wall Street analysts. Among the Oracle bulls was Monness Crespi Hardt analyst Brian White, who affirmed his Buy rating and $113 price target.

“In our view, Oracle offers investors a high-quality, value play with the opportunity to participate in an attractive cloud transformation and gain exposure to the digital modernization initiatives emerging in the healthcare vertical,” said White, justifying his stance. (See Oracle Financial Statements on TipRanks)
The analyst is also encouraged by the long-term financial objectives that management at Oracle had set in October. The goals are to grow organic revenue to reach $65 billion by fiscal year 26, with a 45% operating margin, while achieving more than 10% annual earnings per share growth.
Interestingly, since the end of November, White has mostly been cautious in his stock ratings. Oracle is the only company to enjoy his bullish conviction during this period.
Ranked at Number 703 among more than 8,000 analysts, White has a success rate of 54%. Moreover, each of his ratings has generated 8.5% average returns.

Domino’s Pizza

According to BTIG analyst Peter Saleh, pizza chain owner and operator Domino’s Pizza (DPZ) “is a secular market share gainer in the pizza category owing to the significant competitive advantages it has established on digital ordering, national marketing and value.” The analyst thinks that these efforts have considerably boosted retail sales and market share in recent years.
Saleh expects comparisons for same-store sales to ease in the first half of 2023, which will be a major catalyst for top-line growth. Moreover, sales performance is expected to improve organically in 2023, fueled by an increase in the supply of drivers. (See Domino’s Pizza Blogger Opinions & Sentiment on TipRanks)
Also, Saleh looks at higher pricing for Domino’s $7.99 carryout offer next year. This will help the company “reclaim the $2.00 gap vs. the Mix and Match,” and expand franchisee margins.
Saleh, who had previously been cautious about Domino’s, upgraded the stock to a Buy from Hold, with a price target of $460. Giving us good reason to consider the analyst’s convictions is his 370th position among more than 8,000 analysts followed on TipRanks. Additionally, 63% of his ratings have been profitable, generating average returns of $11.8%.

Lululemon

Canadian athletic apparel retailer Lululemon (LULU) is still reeling from a sell-off following weak guidance for the holiday quarter. Intensifying competition rises and weakening end-markets are keeping investors jittery about the stock.
Nonetheless, Guggenheim analyst Robert Drbul maintained his bullish stance with a Buy rating and a $475 price target. “We remain BUY-rated as we believe LULU stands to benefit from favorable secular tailwinds (health, wellness, casualization, and fitness, including at-home). We also favor the company’s limited seasonality in its product offering, virtually no wholesale exposure, and a robust e-commerce business (all mitigating inventory risk),” explained the analyst.
The growth runway in Lululemon’s Digital, Men’s, and International collections is also solid, according to Drbul. The company is also on track to expand its international business by four times by the end of 2022, ensuring continued top-line growth and “structurally higher” operating margins in the forthcoming years. (See Lululemon Athletica Stock Investors sentiments on TipRanks)
That said, given Drbul’s standing among more than 8,000 analysts on TipRanks, it makes sense for investors to follow his opinions. Standing at the 402nd position, 63% of the analyst’s ratings have been profitable. Each of his ratings has garnered average returns of 8.3%.

Nike

Athletic footwear, apparel, accessories, and equipment maker Nike (NKE) remains the “Best Idea” for 2023, according to Robert Drbul. The company has been riding on the unexpected strength in consumer spending even amid supply-chain issues, inflation, and demand concerns. (See Nike Stock Chart & Stock Technical Analysis on TipRanks)
Drbul conceded that the fiscal year of 2023 does have several overhangs, including supply-demand imbalances and headwinds in the China market. However, he is upbeat about the “structural advantages of its Brand Equity, its massive Demand Creation war chest, a data heavy DTC and Digital business, and management talent to realign its business and progress towards its long-term financial goals in FY24.”
The analyst is confident that in the long-term, Nike’s brand will maintain its dominant market share, which he expects will grow significantly with the expansion of the Digital segment, flow of new product innovations, and investments in growth-driving efforts while peers adopt cost-saving measures.
The analyst reiterated his Buy rating on NKE stock with a price target of $135.

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A shopper browses inside a Bath & Body Works store in Las Vegas, Nevada, U.S., on Sunday, Nov. 7, 2021.
Bridget Bennett | Bloomberg | Getty Images

Company: Bath & Body Works (BBWI)

Business: Bath & Body Works is a specialty retailer of home fragrance, body care, soaps and sanitizer products. In August 2021, Bath & Body Works (formerly known as L Brands) completed the separation of its Victoria’s Secret business.
Stock Market Value: $9.2B ($40.31 per share)

Activist: Third Point

Percentage Ownership: 6.02%
Average Cost: $38.16
Activist Commentary: Third Point is a multistrategy hedge fund founded by Dan Loeb that selectively takes activist positions. Loeb is one of the true pioneers in the field of shareholder activism and definitely one of a handful of activists who shaped what has become modern day shareholder activism. He invented the poison pen letter in a time when a poison pen was often necessary, and as times have changed, he has transitioned from the poison pen to the power of the argument. Third Point has amicably gotten board representation at companies like Baxter and Disney, but also will not hesitate to launch a proxy fight if they are being ignored.

What’s happening?

Behind the scenes

BBWI is a solid company and brand that has a long history of good performance and years of delivering 20%+ operating margins. During the Covid pandemic, the company gained customers and did well, but this year the tides have turned. The company has been in a leadership transition phase, and is facing a tough macroeconomic environment and made a series of execution missteps.

On May 12, Andrew Meslow stepped down as CEO and board chair Sarah Nash was appointed as interim CEO. On Aug. 15, Chris Cramer resigned from the COO role and the company announced that it would not fill the position.
Nash was awarded an astronomical $18 million compensation to serve as interim CEO despite her having been paid $700,000 annually to serve as chair. The president’s salary was increased by 15% to $1 million and the company signed retention agreements with the president, CFO and head of human resources where they were paid an additional combined $4.2 million in equity. This is what Third Point was talking about in its 13D filing when it said it is concerned about executive compensation and excessive awards being made.
To put it into context, one of BBWI’s larger peers, Ulta Beauty, pays its CEO $8.5 million and its highest paid nonemployee director $300,312.
On top of the leadership issues, the company bought back $1.3 billion in stock at about $49 per share prior to making multiple cuts in earnings guidance, which then sent the stock to $30 per share. And through this all, the company could have been communicating better to the market, as it does not even have an internal investor relations executive, which is unusual for a company of this size — particularly one whose stock price is struggling.
On a positive note, on Dec. 1, Gina Boswell took over as the new CEO, after what seemed to be a comprehensive search to find a qualified executive.
However, the missteps since the company spun off Victoria’s Secret on Aug. 3, 2021, have clearly indicated that management needs better counsel from the board and members with experience in capital allocation, executive compensation, market communication; who will hold management accountable. I am not sure I have seen a board that needed shareholder representation more than this one. The good news is that this is a good company with a strong brand that under the right leadership will generate shareholder value.
Third Point is not coming in here to make drastic changes and they certainly are not targeting a new CEO who appears to be qualified for the position. On the contrary, they are looking for board refreshment to support the new CEO and put her in the best position to succeed.
The only negative to Boswell is that she has never been a public company CEO before. That is alright, it just means that it is even more important to have a strong board to advise and support her. That means a board that can guide capital allocation decisions, such as buying back shares at thoughtful prices; that has experience with investors and communicating with the market; and will be diligent about paying management fairly but not excessively. There is not a lot of change that is needed here, just continued refreshment of the board with experienced retail and personal care executives and directors with financial expertise.
At this juncture, we would expect Third Point to seek board representation, support the new CEO and encourage hiring an IR person. We would love to see an industry director and a Third Point person added to the board, but we would not consider it a failure if Third Point decides not to take a board seat in deference to other qualified new directors.
Third Point is known by many for confrontational activism and poison pen letters, but that is the Third Point of 15 years ago. The modern day Third Point succeeds at its activism through the power of argument and respect. So, we would expect this to end amicably. However, Third Point can still fight a proxy fight if necessary and they are as good as anyone at it. If pushed to the edge, we do not expect them to cave. The director nomination window opens on Feb. 11, 2023, so we have a couple of months to see how this plays out.
Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and he is the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist 13D investments. Squire is also the creator of the AESG™ investment category, an activist investment style focused on improving ESG practices of portfolio companies. 

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The 254,000 beneficiaries whose personal information may have been compromised should receive a letter from the Centers for Medicare & Medicaid Services about the data breach.
Those impacted will be issued new Medicare cards and ID numbers in the coming weeks.
Free credit-monitoring services also is available to beneficiaries who are affected.

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Up to 254,000 Medicare beneficiaries’ personal information may have been compromised in an online ransomware attack at a government subcontractor, officials warned this week.
Letters are being sent to the beneficiaries who were impacted by the potential data breach, said the Centers for Medicare & Medicaid Services. Those affected — who represent less than 0.4% of Medicare’s 64.5 million beneficiaries — will also receive a replacement Medicare card with a new identification number in the next few weeks.

“The safeguarding and security of beneficiary information is of the utmost importance to this agency,” CMS Administrator Chiquita Brooks-LaSure said in the announcement.
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“We continue to assess the impact of the breach involving the subcontractor, facilitate support to individuals potentially affected by the incident, and will take all necessary actions needed to safeguard the information entrusted to CMS,” Brooks-LaSure said.
The personal information that could have been compromised include name, address, date of birth, phone number, Social Security number, Medicare beneficiary identifier, banking information (including routing and account numbers) and Medicare entitlement, enrollment and premium information.

Free credit-monitoring also is being offered to the impacted individuals; the letters being sent include information on how to sign up for the service.

No CMS systems were breached, and no Medicare claims data were involved, according to the announcement. The agency also is not aware of any reports of identity fraud or improper use of the personal information as a direct result of the incident.
The subcontractor, Healthcare Management Solutions, experienced the ransomware attack on its corporate network on Oct. 8, according to CMS. The company handles the agency data as part of processing Medicare eligibility and entitlement records, as well as premium payments.

CMS was alerted the day after the attack, and on Oct. 18, officials “determined with high confidence that the incident potentially included personally identifiable information and protected health information for some Medicare enrollees,” according to the CMS release. 
For its part, Healthcare Management Solutions told CNBC that it acted swiftly to take its network offline to contain the cybersecurity incident and an investigation remains ongoing. In a statement, the company said it also regrets “any concern this incident may have caused our community and will notify impacted individuals pursuant to legal and contractual obligations.”
In the first half of 2022, more than 53 million individuals in the U.S. were affected by data compromises, according to Statista. In 2021, the three most affected industries were healthcare, financial services and manufacturing.

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Many Americans are bracing for a new reporting change for third-party payment networks like Venmo or PayPal.  
Starting in 2022, you’ll receive Form 1099-K, which reports income to the IRS, for business transfers over $600.
Experts cover what to do if you receive 1099-Ks for personal payments by mistake.

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As the tax season approaches, many Americans are bracing for a new reporting change for third-party payment networks like Venmo or PayPal.  
Starting in 2022, you’ll receive Form 1099-K, which reports income to the IRS, for business payments over $600. But experts say it’s possible you’ll receive 1099-Ks for personal transfers by mistake.

“As tax preparers, we are more or less expecting the worst,” said Albert Campo, a certified public accountant and president of AJC Accounting Services in Manalapan, New Jersey.
“We’re expecting most of our clients to get these things,” he said. “So we’re trying to be proactive in addressing it.” 
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Companies file 1099-Ks annually to report credit card and third-party payments in what’s known as an “information return,” with copies going to the IRS and the taxpayer.
Before 2022, taxpayers received 1099-Ks with more than 200 transactions worth an aggregate above $20,000. But the American Rescue Plan Act of 2021 dropped the threshold to just $600. Now, even a single transaction can trigger the form.

How to handle 1099-Ks for personal transfers

The IRS says the reporting change does not apply to personal transfers, such as gifts or reimbursements between friends and family. However, the agency explains what to do if you’ve received a 1099-K in error.   
“If the information is incorrect on the 1099-K, taxpayers should contact the payer immediately, whose name appears in the upper left corner on the form,” the IRS said in a release on Dec. 6. “The IRS cannot correct it.”
But experts say it may be easier to address the 1099-K on your tax return, rather than waiting for Venmo, PayPal or other issuers to send a corrected form. 

At the end of the day, you want the IRS computers to recognize that the 1099-K was reported on your return.

Albert Campo
President of AJC Accounting Services

Tommy Lucas, a certified financial planner and enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida, suggests reporting the 1099-K on Schedule D by showing the income and the same amount as an expense to “zero it out.”
For example, if you receive a 1099-K with $800 of income, you can report $800 under “proceeds” and $800 under “cost” for a net profit of $0, he explained.   
Alternatively, you can use the same strategy on Schedule C by reporting the earnings under “gross receipts or sales” and the same amount under “other” in the expense section, Campo said.
If you receive a 1099-K for business transfers, you’ll also report that income, along with possible deductions on Schedule C.

“At the end of the day, you want the IRS computers to recognize that the 1099-K was reported on your return,” he said. Otherwise, the system may flag your filing and send an automated notice, which takes time to resolve.
“The biggest thing, as always, is avoiding that notice,” Lucas said. “Because you just can not get a hold of the IRS right now.”

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The Biden administration’s most recent extension of the pandemic-era relief policy was more complicated than previous ones.
Here’s what borrowers need to know.

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The Biden administration’s most recent announcement that the pause on federal student loan bills would be extended left borrowers with more uncertainty: It didn’t provide a date for when the payments would resume.
The pandemic-era relief policy suspending federal student loan bills and the accrual of interest has been in effect since March 2020. Turning the $1.7 trillion lending system back on for some 40 million Americans is a massive task that the U.S. Department of Education has been reluctant to undertake.

The administration had hoped to ease the transition for borrowers by first forgiving a large share of student debt, but its plan to do so, unveiled in August, soon faced a barrage of legal challenges and remains tied up in the courts. That development is why borrowers have gotten even more time without a student loan bill.
Here’s what you need to know about the latest payment pause extension.

Student loan bills could resume as soon as May 1

The Education Department has left things a little open-ended when it comes to the timing of federal student loan payments resuming.
It has said the bills will be due again only 60 days after the litigation over its student loan forgiveness plan resolves and it’s able to start wiping out the debt.
If the Biden administration is still defending its policy in the courts by the end of June, or if it’s unable to move forward with forgiving student debt by then, the payments will pick up at the end of August, it said.

Most recently, the Supreme Court has said it will hear oral arguments around the president’s plan in February.
That means the earliest that payments could restart would likely be May 1, if the justices reach a quick decision, said higher education expert Mark Kantrowitz.

Borrowers who are behind may get a ‘fresh start’

The U.S. government has extraordinary collection powers on federal debts and it can seize borrowers’ tax refunds, wages and Social Security checks if they fall behind on their student loans.
During the extended payment pause, however, the Education Department is also ceasing all collection activity, it said.
Borrowers in default on their student loans should also look into the recently announced “Fresh Start” initiative, in which they’ll have the opportunity to return to a current status.

Refinancing may be worth considering

Kantrowitz had previously recommended that, despite the chance of picking up a lower interest rate, federal student loan borrowers refrain from refinancing their debt with a private lender while the Biden administration deliberated on how to move forward with forgiveness. Refinanced student loans wouldn’t qualify for the federal relief.
Now that borrowers know how much in loan cancellation is coming — if the president’s policy survives in the courts — borrowers may want to consider the option, Kantrowitz said. With the Federal Reserve expected to continue raising interest rates, he added, you’re more likely to pick up a lower rate with a lender today than down the road.
Still, Kantrowitz added, it’s probably a small pool of borrowers for whom refinancing is wise.

It would be deeply unfair to ask borrowers to pay a debt that they wouldn’t have to pay, were it not for the baseless lawsuits brought by Republican officials and special interests.

Miguel Cardona
Secretary of the U.S. Department of Education

He said those include borrowers who don’t qualify for the Biden administration’s forgiveness — the plan excludes anyone who earns more than $125,000 as an individual or $250,000 as a family — and those who owe more on their student loans than the administration plans to cancel. Those borrowers may want to look at refinancing the portion of their debt over the relief amounts, Kantrowitz said.
Borrowers need to first understand the federal protections they’re giving up before they refinance, warns Betsy Mayotte, president of The Institute of Student Loan Advisors.
For example, the Education Department allows you to postpone your bills without interest accruing if you can prove economic hardship. The government also offers loan forgiveness programs for teachers and public servants.
“Your rate doesn’t matter if you lose your job, have sudden medical expenses, can’t afford your payments and find that defaulting is your only option,” Mayotte said, in a previous interview about refinancing.

Make the most of extra cash during the payment pause

Boy_anupong | Moment | Getty Images

With headlines warning of a possible recession and layoffs picking up, experts recommend that you try to salt away the money you’d usually put toward your student debt each month.
Certain banks and online savings accounts have been upping their interest rates, and it’s worth looking around for the best deal available. You’ll just want to make sure any account you put your savings in is FDIC-insured, meaning up to $250,000 of your deposit is protected from loss.
And while interest rates on federal student loans are at zero, it’s also a good time to make progress paying down more expensive debt, experts say. The average interest rate on credit cards is currently more than 19%.

Some may want to keep paying during the pause

If you have a healthy rainy-day fund and no credit card debt, it may make sense to continue paying down your student loans even during the break, experts say.

There’s a big caveat here, however. If you’re enrolled in an income-driven repayment plan or pursuing public service loan forgiveness, you don’t want to continue paying your loans.
That’s because months during the government’s payment pause still count as qualifying payments for those programs, and since they both result in forgiveness after a certain amount of time, any cash you throw at your loans during this period just reduces the amount you’ll eventually get excused.

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If you’ve opted into your company’s group disability insurance, it may be less coverage than you think, experts say.
You’ll need to check how much income is protected, the policy’s definition of “disability,” exclusions and limitations.
“There can be a false sense of security with the employer plan,” said John Ryan, founder and CEO of Ryan Insurance Strategy Consultants.

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If you’ve opted into your company’s group disability insurance plan, you may assume there’s sufficient income protection if you can’t work due to illness or injury. But experts say your workplace coverage may not be enough.  
John Ryan, founder and CEO of Ryan Insurance Strategy Consultants, urges employees to embrace group disability insurance, but warns “there can be a false sense of security with the employer plan.” 

For employees, group disability insurance offers guaranteed coverage at low or no cost, but you need to know what’s “under the hood,” he said, speaking at the Financial Planning Association’s annual conference in Seattle on Wednesday.
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It’s estimated that 35% of private industry workers have access to workplace long-term disability insurance plans and 43% have access to short-term disability coverage, according to a September report from the U.S. Bureau of Labor Statistics.
There are two types of group disability insurance: short-term, which pays a temporary benefit, and long-term, which lasts for an extended period of time.
You’ll want to check the plan’s “exclusions and limitations,” outlined in the policy’s summary plan description, Ryan said. If anything raises a red flag, speak up and ask for clarification. 

It’s also important to know how much income is covered, since some policies protect only your base salary, not bonuses or commission. What’s more, you need to know whether the benefits received are before or after taxes, Ryan said.  

Why the policy’s definition of ‘disability’ matters

Another key detail is how your group plan defines disability, Ryan said. The most generous definition, “own occupation,” allows you to collect benefits if illness or injury prevents you from working in your current profession. Another, “any occupation,” means you’re not able to work any job.
Ryan said company plans typically use “own occupation” definition for the first two years of a claim. Once the definition changes, it may be harder to claim disability benefits if you can still work another job. It’s most difficult to claim benefits with the “any occupation” definition.
However, many policies are “more favorable than people think,” after the two-year period, he said. For example, the definition may include “the significant and substantial duties of an occupation that’s reasonable based on prior training, education and experience,” he said. 

“That’s a lot better definition,” Ryan said. “Reasonable” has been determined by the court system to be an occupation where you must earn at least 60% of your previous income within a 12-month period. “So that rules out selling pencils on the street corner,” he said.

How to ‘cover the gaps’ in group disability coverage 

If you discover shortfalls in your group disability plan, it’s possible to “cover the gaps” with an individual policy, Ryan said. But it can be a “tough underwriting process” and pricing may be a concern, he said.
However, individual policy pricing may be more flexible with certain features scaled back, Ryan said. It’s more important to have “some level of coverage” than to skip extra protection when it’s needed, he said.
For guidance, Ryan encourages consumers to tap an experienced disability insurance broker who works with more than one company. 
Currently, 14% of consumers have individual disability insurance coverage, down from an all-time high of 31% in 2012, according to LIMRA, an organization of financial services and insurance companies.

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With inflation eroding wage gains, the number of Americans living paycheck to paycheck is increasing, according to a recent report.
Even the share of six-figure earners feeling financially strained spiked from the previous month.
Regardless of income, these money moves can keep your budget in check heading into the new year.

As rising prices continue to weigh on households, more families are feeling stretched too thin.
As of November, 63% of Americans were living paycheck to paycheck, according to a monthly LendingClub report — up from 60% the previous month and near the 64% historic high hit in March.

Even high-income earners are under pressure, LendingClub found. Of those earning more than six figures, 47% reported living paycheck to paycheck, a jump from the previous month’s 43%. 
“Americans are cash-strapped and their everyday spending continues to outpace their income, which is impacting their ability to save and plan,” said Anuj Nayar, LendingClub’s financial health officer.
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Although consumer prices rose less than expected in November, persistent inflation has caused real wages to decline.
Real average hourly earnings are down 1.9% from a year earlier, according to the latest reading from the U.S. Bureau of Labor Statistics.

This leaves many Americans in a bind as inflation and higher prices force more people to dip into their cash reserves or lean on credit just when interest rates rise at the fastest pace in decades.
Already, credit card balances are surging, up 15% in the most recent quarter, the largest annual jump in more than 20 years.
At the same time, credit card rates are now more than 19%, on average — an all-time high — and still rising.

Compared with a year ago, 32% of all consumers are saving less than they were before, LendingClub found. Among those who said they are struggling financially, half are unable to save and have no savings at all.
One-third of working adults — 33% — feel somewhat or very uncomfortable about their ability to pay an emergency $400 expense, a separate survey by the Bipartisan Policy Center also found. Nearly 8% wouldn’t be able to afford it at all.
“With average savings stagnating, if not decreasing, setting financial goals for the new year will become increasingly difficult for many consumers,” Nayar said.

How to get your finances on track

“These challenges aren’t going to go away when we flip the calendar, so it is best to make a plan for mitigating ongoing risks to financial stability like inflation and market volatility in the year ahead,” said Kelly LaVigne, vice president of consumer insights at Allianz Life.
“It helps to have a documented strategy for your money — particularly one developed with the help of a financial professional — to review when you’re feeling financially overwhelmed,” LaVigne said.  
Thomas Racca, manager of the personal finance team at Navy Federal Credit Union, offers these four tips to get your finances in check:

Do your own audit. Start with a list of all of your assets and liabilities, Racca advised. “You won’t be able to make decisions for next year if you don’t take stock of where you currently stand,” he said.
Make a plan to save. Prioritize a plan to set money aside every month. Even putting a small amount toward your savings account, emergency fund or tax-advantaged retirement account “will make a huge difference in the long run,” Racca said.
Reevaluate your budget. Check in with your proposed budget regularly to see how close you’re staying to it. “You’ll stay more on track with your financial goals if you’re honest about what you have and can spend,” Racca added.
Make changes if necessary. Finally, don’t be afraid to make adjustments. “If you thought you would spend $50 a week on groceries but are actually spending closer to $70, find ways to re-prioritize your spending to make up the $20 difference,” Racca said.

For its part, the Federal Reserve hiked its target federal funds rate half a point to the highest level in 15 years.

The U.S. central bank also indicated even more increases are coming in 2023, until inflation shows clear signs of a pullback.
During a news conference, Chairman Jerome Powell said it is important to keep up the fight against inflation so that the expectation of higher prices does not become entrenched.
LendingClub’s paycheck-to-paycheck report is based on a survey of nearly 4,000 U.S. adults in November.
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