Vice President Kamala Harris has recently outlined her economic agenda, calling for higher taxes on wealthy Americans and corporations. At the heart of her proposal is a 25% minimum tax on total income, including “unrealized gains” exceeding $100 million. Despite her efforts to address income inequality, experts believe that her plan is unlikely to gain
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Many younger retirees in the United States rely on Marketplace health insurance due to their ineligibility for Medicare before the age of 65. This option offers lower monthly premiums through 2025 thanks to boosted tax breaks. However, without proper planning, retirees can face a costly tax surprise, according to experts. Data from the Kaiser Family
As the labor market experiences cracks and challenges, it is often young adults who feel the impact first. According to a recent report from the Federal Reserve Bank of St. Louis, approximately 16% of 18- to 24-year-olds are neither employed nor enrolled in high school or college, earning them the label of “disconnected youth.” These
Despite the ongoing impacts of the pandemic, Americans are showing a strong enthusiasm for international travel. According to research from Bank of America, travel spending among American households has surpassed pre-pandemic levels, with a significant portion of this spending allocated towards vacations abroad. This trend is further supported by data indicating that about 17% of
As the Federal Reserve considers lowering interest rates, there is a divide among experts regarding the future of the U.S. economy. While some fear a recession, others believe in the possibility of a “soft landing.” For those nearing retirement, the stakes are high. A sudden market decline or recession could drastically impact their retirement savings
The concept of automated 401(k) plan savings has been gaining popularity among employers in recent years. This strategy involves automatically enrolling workers in their company’s 401(k) plan and gradually increasing their savings rate over time. The intention behind this approach is to encourage employees to save more for retirement by leveraging their inherent inertia. However,
As fall approaches, many career experts speculate that there is a “September surge” in job postings. This surge is believed to be a result of job recruiters and hiring managers returning from vacation after a summer slowdown. The idea is that with more people back in the office, there are more job opportunities becoming available.
As of 2025, retirees who have been anxiously watching their prescription drug costs skyrocket will finally receive some much-needed relief. The new legislation passed by Congress, known as the 2022 Inflation Reduction Act, will bring significant changes to the Medicare Part D program. One of the most notable changes is the introduction of an annual
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
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