Personal
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The Controversy Surrounding Ending Taxes on Tips by Trump and Harris
The idea of ending taxes on tips has recently been brought up by both former President Donald Trump and Vice President Kamala Harris. This controversial proposal has sparked a debate among policy experts, with some supporting the idea while others criticizing it. Harris expressed her support for tax-free tips at a rally in Las Vegas,…
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The Flaws of Trump’s Social Security Plan and Larson’s Alternative Solution
Former President Donald Trump recently proposed a new idea for Social Security, suggesting an end to taxes on benefit income. While this plan seems appealing at first glance as it would allow seniors to keep more of their monthly checks, it has been criticized for the fatal mistake of not addressing the revenue loss that…
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The Importance of Emergency Savings: Guidelines for Investors
In today’s uncertain economic climate, with fluctuating growth forecasts and market volatility, it has become more crucial than ever for investors to have a sufficient amount of cash set aside as emergency savings. Despite reports of economic growth in the second quarter, a significant portion of Americans believe that the country is currently in a…
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The Threat of Sequence of Returns Risk on Retirement Nest Eggs
Many investors approaching retirement face the threat of sequence of returns risk, a phenomenon that is often misunderstood and overlooked. This risk arises from poor investment returns combined with withdrawals, particularly in the early years of retirement. This can lead to a significant reduction in one’s retirement nest egg over time. Certified financial planner Collin…
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The Impact of Inflation on Retirement Plans
Inflation Surge Alters Retirement Plans for Many Americans The recent spike in inflation has profoundly impacted the retirement plans of many Americans, especially those on the brink of retiring. With the cost of living climbing rapidly, many nearing retirement age are rethinking their financial futures. According to a survey by Prudential Financial, a significant number…
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Supreme Court Upholds Foreign Investment Tax, Leaves Questions About Wealth Tax
Supreme Court Upholds Repatriation Tax in Moore v. United States: Implications for Future Wealth Tax Proposals In a noteworthy ruling, the Supreme Court recently upheld the constitutionality of a federal tax on certain foreign investments. The case, Moore v. United States, revolved around a Washington state couple who faced taxes due to the “mandatory repatriation…
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Why the “no-spend month” trend might not be the best idea
TikTok’s “No-Spend Month” Trend: A Path to Financial Detox or a Fad? The Rise of “No-Spend Month” on TikTok In the ever-evolving world of TikTok, where viral dance challenges and cooking hacks are a dime a dozen, a new trend has captured the attention of users looking to improve their financial health: the “no-spend month.”…
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The Expansion of Student Loan Forgiveness Program to Early Childhood Educators
Expanding Public Service Loan Forgiveness: A Lifeline for Early Childhood Educators In a groundbreaking move, the U.S. Department of Education has proposed an extension of the Public Service Loan Forgiveness (PSLF) program to include early childhood educators. This initiative addresses the financial challenges faced by individuals in early childhood education settings, where low salaries are…
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The Financial Struggles of Generation X: Navigating Retirement Savings
Navigating the Financial Squeeze: How Generation X is Tackling Retirement Saving As Generation X ages, the pressure of retirement saving becomes increasingly evident, especially for those who find themselves sandwiched between the financial responsibilities of caring for elderly parents and supporting adult children. A report from Natixis Investment Managers revealed that 48% of Gen Xers…
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Unpacking the Challenges of Heirs’ Property and Appraisal Bias in Homeownership
The Complexities of Heirs’ Property and Appraisal Bias in Homeownership Homeownership has traditionally been a cornerstone of wealth accumulation and stability in the United States, often seen as a reliable pathway to building generational wealth. However, recent estimates reveal that over $32 billion in assessed property values across 44 states and Washington, D.C., are jeopardized…