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
Recent data suggests that the typical newly built house on the market today is smaller in size compared to a decade ago. The reduction in square footage could be seen as a response to changing buyer preferences. The National Association of Home Builders (NAHB) reported that in 2024, the median size of a single-family home
The housing market continues to shatter records, with home prices hitting another all-time high in April. Despite a rise in mortgage rates and an increase in homes for sale, prices surged by 6.3% compared to the previous year. This marks the second consecutive month that the national index has exceeded its previous peak. The trend
Cisco’s Greater China head expressed “very optimistic” views on the growing business with Chinese electric car companies as they make their way into the global market. The electric vehicle (EV) segment has become Cisco’s second-largest sector in the region, with most revenue coming from manufacturing companies. Within this category, electric cars take the lead, indicating
The ongoing problems with the new Free Application for Federal Student Aid have caused significant delays in the disbursement of financial aid award letters for prospective college students. As a result, many high school seniors and their families are facing challenges in applying for financial aid. The National College Attainment Network reported that only 45%
The recent surge in inflation has not only affected the overall economy but has also had a significant impact on retirees and near-retirees. According to a recent survey conducted by Prudential Financial, a large number of individuals in the 55 to 75 age group are reconsidering their retirement plans due to the current state of
Ferrari, the iconic luxury automaker known for its roaring combustion engines, is making a bold move towards an all-electric model. While the electric Ferrari won’t be available for over a year, early tests indicate that it embodies the driving traits and emotion that define a true Ferrari. According to Ferrari CEO Benedetto Vigna, the final
When couples face financial stress, the most effective approach is to engage in open and honest communication. However, according to a study conducted by Cornell University, many couples tend to avoid discussions about money when they are experiencing stress. The research suggests that individuals who are feeling overwhelmed by financial issues are more likely to
The average 401(k) savings rate has been steadily increasing over the years, according to reports from Vanguard and Fidelity. In 2023, the average combined savings rate was estimated at 11.7%, which matched a record high from the previous year. Similarly, a separate Fidelity report indicated a combined rate of 14.2% for the first quarter of
Target, the Minneapolis-based retail giant, has announced a new partnership with Shopify to bring fresh and trendy brands to its online marketplace. This collaboration aims to leverage Shopify’s platform to discover popular products and offer them to Target’s customers through its website. By teaming up with Shopify, Target is looking to diversify its online assortment