mediaphotos | E+ | Getty Images Many popular tax-planning strategies are on the chopping block as Democrats debate how to pay for their $3.5 trillion spending package. However, now is the time to consider year-end moves to lower next year’s tax bill, regardless of what happens in Congress. “Year-end tax planning should be done every
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Valeriy_G | iStock | Getty Images If you have a big wad of cash to invest, you may wonder whether you should put all of it to work immediately or spread out over time. Regardless of what the markets are doing, you’re more likely to end up with a higher balance down the road by
A sign featuring Jeff Bezos calls for taxing the rich in front of the U.S. Capitol in Washington, D.C., U.S., on Wednesday, Sept. 15, 2021. Stefani Reynolds | Bloomberg | Getty Images The wealthiest 400 American families paid an 8.2% average rate on their federal individual income taxes from 2010 to 2018, according to a
sorn340 | iStock | Getty Images It’s now been more than seven months since President Joe Biden asked the U.S. Department of Justice to review his legal authority to cancel student debt. The agency hasn’t released its findings yet. And although top Democrats argue that the president can cancel the debt through executive action, Biden
In this article BKCC Ronnie Kaufman | DigitalVision | Getty Images Everyone wants to be happy in retirement. So what will it take to get there? It’s not just saving money, although that is key, according to certified financial planner Wes Moss, chief investment strategist at Atlanta-based Capital Investment Advisors and author of the upcoming
People protest for a moratorium on evictions on Aug. 4, 2021 in New York. Stephanie Keith | Getty Images Millions of renters are at risk of financial hardship as federal and state relief measures wind down. That’s a new warning from the Consumer Financial Protection Bureau, which found that the pandemic-era safety net helped renters
A person reads a list of employers as they attend a job fair at SoFi Stadium on Sept. 9, 2021, in Inglewood, California. PATRICK T. FALLON | AFP | Getty Images There remains little evidence that states successfully nudged people back to work by ending federal unemployment benefits early, according to economists. Twenty-six states withdrew
Sinenkiy | iStock | Getty Images Federal benefits for aged, blind and disabled Americans have not been updated in years. Now, some lawmakers and advocates are pushing for changes to the program — called Supplemental Security Income, or SSI — to be part of legislation being promoted in Congress. However, it is still unclear whether
A detail of the statue of Satoshi Nakamoto, a presumed pseudonym used by the inventor of Bitcoin, in Budapest, Hungary. Janos Kummer | Getty Images News | Getty Images The price of popular cryptocurrencies like bitcoin and ethereum plunged Friday after Chinese officials intensified a crackdown, essentially declaring crypto to be illegal. The government intervention,
Ruby Bugarin owns two restaurants in California and is being hit by rising supply chain struggles and inflation. Courtesy: Ruby Bugarin Restaurants around the county were looking ahead to the economy’s reopening over the last few months, as Covid vaccines became more widespread and pent-up consumer demand was palpable. But headwinds from supply chain disruptions
Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images The Federal Deposit Insurance Corp. will unveil this week a new investment fund backed by corporate giants that
The core of US hegemony is the role of the US dollar as the only world-wide acceptable means of payment. But China would like to supplant the dollar, and the US Congress can make it easy for them — by its inaction. If Congress fails to modify the existing Federal debt ceiling, sometime in October
The US is currently experiencing an uptick in inflation with CPI rising 5.3% in August. For many, this is inflation troubling while others see it as transitional. However, Social Security recipients may be getting an unexpected boost from the rising prices. Social Security benefits are indexed to inflation. Historically, Social Security benefits prior to 1972
What’s a “hidden” 401(k) fee? As the name suggests, it’s likely one that’s not readily disclosed or easily accessible. If you use this definition, almost all fees are hidden because they’re too hard to find. “The plan sponsor/employer does receive an annual fee disclosure,” says Stuart Robertson, CEO of ShareBuilder 401k in Seattle. “However, this
Romance scams surged for seniors during the Covid-19 pandemic, the Senate Aging Committee was told today. Losses reported to the Federal Trade Commission alone by the elderly from phony suitors rose to $139 million last year from $84 million in 2019. The loneliness and isolation during the pandemic made the elderly particularly vulnerable because
On August 31 the Trustees of Social Security and Medicare finally issued their 2021 annual report. The news wasn’t good, but not as bad as many expected. Normally the trustees issue their annual report sometime in the Spring. Last year it was issued April 22. This year the actuaries apparently spent more time massaging the
Parental leave has been on the agenda not merely of Democrats but also of moderate Republicans for quite some time. To be sure, Republican proposals have been far more restrained — Marco Rubio’s ill-fated 2018 proposal to allow parents to “borrow” from their Social Security benefits never went anywhere, but at about the same time,
By Richard Eisenberg, Next Avenue Editor We’ve all known that Covid-19 has taken a cruel toll on the health of older Americans. Now, a new study from The Commonwealth Fund foundation finds that the coronavirus has been equally brutal financially. In fact, the 2021 International Health Policy Survey of Older Adults shows Americans 65+ have been facing greater
By Paul Irving, Next Avenue We learned from the 2020 U.S. Census that the fastest growing metro area in the nation is The Villages, a master-planned retirement community in central Florida. In a demographically changing and urbanizing America, this dominantly white, politically conservative stronghold bucked the trend as retirees lured by warm winters, pastel-hued homes, golf
By Richard Eisenberg, Next Avenue Editor Rudyard Kipling famously wrote: “If you can keep your head when all about you are losing theirs…” And that about sums up a key rule for investing: Make your decisions about when to buy and sell and what to buy and sell based on thinking rationally, not emotionally. It isn’t easy. But my “Friends