The recent electoral victory of President-elect Donald Trump has profound implications for tax policies, particularly regarding capital gains taxes on high earners. The political landscape, influenced by a Republican majority, signals a likely stasis in the current tax structure, particularly benefiting those with significant investment income. Experts agree that proposals for higher taxes on capital
Personal
The emotional turmoil following the death of a spouse can be overwhelming, but the accompanying financial repercussions often exacerbate the situation. Among these is the reality that widowhood can lead to increased tax liabilities, a fact that many retirees overlook during their planning phases. However, financial professionals suggest that with prudent foresight and planning, surviving
In an age where financial markets are more accessible than ever, there is a glaring disconnect between parents’ awareness of the importance of investment education and their confidence in imparting that knowledge. A recent survey conducted by the SIFMA Foundation highlights this gap, revealing that while the overwhelming majority of parents agree on the necessity
The integration of artificial intelligence (AI) into personal finance management has catalyzed a transformative shift in how individuals approach budgeting, investing, and savings. With the rise of generative AI tools like ChatGPT, a growing number of users—especially among younger generations—are exploring these technologies to assist with various financial tasks. According to a recent report by
In today’s consumer-driven society, impulse spending has become a prominent issue for many. The phenomenon, characterized by spontaneous purchases often made without thoughtful consideration, can lead to unmanageable debt and financial stress. The relentless barrage of advertisements and sales promotions can exacerbate this behavior, leading consumers to spend money on items they do not truly
In an announcement made by the IRS, the contribution limits for Roth individual retirement accounts (IRAs) in 2025 are set to maintain the same upper limit of $7,000 as established in 2024. This consistency is beneficial for savers who rely on the predictability of these limits to plan their retirement strategies. Furthermore, those aged 50
The struggle of many Americans to manage credit card debt has reached a critical point, primarily driven by soaring interest rates. With the Federal Reserve enacting a series of rate hikes since March 2022, the average annual percentage rate (APR) on credit cards has followed a considerable upward trajectory, climbing from 16.34% to over 20%
The U.S. Department of the Treasury has recently unveiled the newest interest rates for Series I bonds, effective from November 1 through April 30, 2025. The new composite rate stands at 3.11%, a notable decrease from the 4.28% yield that was in effect since May, and significantly lower than the 5.27% reported in November 2023.
Halloween, a festive occasion marked by costumes, decorations, and trick-or-treating, is not just a time for fun; it also brings an array of risks that can lead to increased homeowners insurance claims. Surprisingly, incidents on this spooky night contribute to a notable rise in claims, with statistics indicating a 14% uptick in claims compared to
The Free Application for Federal Student Aid (FAFSA) is an essential bridge for students seeking financial assistance for higher education in the United States. This year, the rollout of the new FAFSA for the academic year 2025-26 is in progress. The U.S. Department of Education announced that the application is on track for a phased