Many investors are well-versed in the concept of asset allocation, but what about asset location? Financial advisors suggest that where assets are held can have a significant impact on after-tax returns, especially for wealthier investors. Despite this, many individuals fail to give sufficient attention to the tax implications of their investment decisions. Asset location involves
Personal
The U.S. Department of Education recently revealed some additional details regarding the launch of the new Free Application for Federal Student Aid for the upcoming academic year. The 2025-26 FAFSA will be gradually available to select groups of students starting on October 1, in a series of beta tests. The full rollout for all students
Tax-gain harvesting is a lesser-known strategy that can be utilized to rebalance your portfolio and potentially save on future taxes. This tactic involves strategically selling profitable assets in your brokerage account during lower-income years, such as the early years of retirement or periods of unemployment. The goal is to realize gains at a 0% rate,
Ignoring a big tax bill can have serious consequences, especially for travelers. The federal government has the authority to revoke a passport if an individual has a “seriously delinquent tax debt.” This debt threshold includes the aggregate total federal tax liabilities, penalties, and interest levied against an individual, which is adjusted annually for inflation. The
The cost of attending college is reaching exorbitant levels, with some institutions now charging close to six figures annually. This staggering amount includes tuition, fees, room and board, books, transportation, and other miscellaneous expenses. According to data provided to CNBC, several prestigious colleges, such as New York University, Tufts, Brown, Yale, and Washington University in
In a heartfelt speech at the Democratic National Convention, Minnesota Gov. Tim Walz highlighted the crucial role that Social Security survivor benefits played in his family’s life after the tragic loss of his father. These benefits not only helped them navigate the financial challenges of his father’s passing but also allowed them to maintain their
The recent data breach at National Public Data, a background check company, has sent shockwaves through the online community. While you may not have heard of this company before, the breach has potentially exposed the personal information of millions of individuals. Reports suggest that over 2.7 billion personal records may have been compromised, including sensitive
Maxing out your 401(k) contributions for 2024 may seem like a no-brainer for some individuals, but financial advisors suggest that it may not be the best option for everyone. While employees can defer up to $23,000 into 401(k) plans, with an extra $7,500 for workers age 50 and older, there are some important factors to
The recent announcement by Federal Reserve chair Jerome Powell has hinted at possible interest rate cuts, signaling a shift in monetary policy. This potential change has left investors contemplating on how to navigate their portfolios in light of these developments. Financial advisors, such as Winnie Sun and Lee Baker, advise that long-term investors with diversified
The concept of remote work has become a fundamental aspect of the U.S. labor market, marking a significant shift in how people approach their jobs. Before the Covid-19 pandemic, remote work was a rare occurrence, with only a small percentage of workers having the opportunity to work from home. However, as the pandemic forced organizations