President Joe Biden’s student loan relief plan, known as the Saving on a Valuable Education (SAVE) plan, has faced legal challenges recently. However, a federal appeals court decision from the 10th Circuit U.S. Court of Appeals has allowed a key provision of the plan to resume. This decision is seen as a major win for
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Recent years have shown a significant dominance of a few large companies in the U.S. stock market. The concentration of the market raises concerns among experts about whether this trend exposes investors to higher risks. This is evident in the S&P 500, the key benchmark for U.S. stocks, where the top 10 companies by market
When it comes to planning for retirement, many financial experts emphasize the need to keep an eye on your savings rate and the total amount in your nest egg. However, one crucial factor that often gets overlooked is your life expectancy. The uncertainty surrounding how long you will live can be uncomfortable and challenging to
Lawmakers’ interest in taxing the ultra-rich has been on the rise, but a recent Supreme Court ruling could pose a challenge to future wealth tax proposals, according to experts. The case of Moore v. United States focused on the “mandatory repatriation tax,” a one-time levy on certain foreign investments implemented in 2017. The Supreme Court’s
Many Americans find themselves struggling with summer travel expenses long after the season has ended. According to a recent survey by Bankrate, 36% of Americans plan to take on debt in order to travel during the summer months. The payment methods for these expenses vary, with some individuals resorting to personal loans, buy now pay
The American Rescue Plan Act, which was implemented during the COVID-19 pandemic, temporarily enhanced the premium tax credit for health insurance purchased via the marketplace. This act has benefitted more than 21 million participants in 2021 and 2022. However, the Inflation Reduction Act extended these benefits through 2025. After this point, without further action from
The upcoming 2024 presidential debate between President Joe Biden and former President Donald Trump is expected to shed light on their stance regarding tax policy. One crucial issue that will likely be discussed is the expiration of Republicans’ tax breaks, which were implemented through the Tax Cuts and Jobs Act of 2017 (TCJA). Several provisions
Cody Gude, a 35-year-old resident of Tampa, Florida, was eagerly anticipating his student loan payments dropping from $200 to $100 in July. This decrease in payment meant that he would no longer have to work extra hours delivering groceries on Instacart. However, his relief turned to disappointment when federal judges in Kansas and Missouri put
As the specter of a retirement savings crisis looms for many Americans with 401(k) plans, there is a glimmer of hope in the form of “super savers.” These individuals, who are contributing more than 10% of their salaries towards their retirement funds, are setting an example of prudent financial planning, according to research from the
As individuals approach retirement with sizable pre-tax retirement account balances, it is crucial to have a solid plan in place to manage future tax obligations. Certified financial planner Scott Bishop warns that retirees who have diligently saved for their future could face a “tax time bomb” once required minimum distributions (RMDs) kick in. The recent