News From the Control Tower - 12/8/2022

News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.

This week’s reads include:

1.       Want a Free Yeti Cooler? Hundreds Are Washing Up on Alaska’s Coast

A freighter spill launched an armada of the high-end coolers now drifting to Alaska and as far as Hawaii; ‘Oh, my God, what’s coming to our beaches?’

2.       How Colleges and Sports-Betting Companies ‘Caesarized’ Campus Life

In order to reap millions of dollars in fees, universities are partnering with betting companies to introduce their students and sports fans to online gambling.

3.       Eight Questions to Ask Your Aging Parents (and Yourself) to Keep Their Phones Safe From Hackers

People over 60 lose a lot of money to phone scams. Some simple steps can make them more secure.

4.       Here’s what to do if a payment app reports your cash gifts to the IRS

An email notice had a bride-to-be worried cash gifts being processed by PayPal would be taxed. But they’re ‘absolutely not taxable’ under a new IRS rule.

5.       I-Bonds Aren’t the Only Way to Fight Inflation

After this year’s mauling, you can finally get a steady stream of retirement income from Treasury inflation-protected securities, or TIPS.