In a time of political urgency as Congress seeks to prevent a government shutdown, attention is being diverted to a significant piece of legislation: the Social Security Fairness Act. This bill, aimed at addressing inequities in Social Security benefits for certain public sector workers, has garnered considerable attention and bipartisan momentum. However, as lawmakers dive
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The potential introduction of tariffs on imported goods has become a contentious topic in economic discussions, particularly concerning the automobile industry. President-elect Donald Trump’s discussions surrounding trade policies have sparked concerns regarding the implications for car prices in the United States. As he emphasizes a more protectionist approach to trade, the multifaceted impact of tariffs
The savings landscape for 401(k) plans has shown a remarkable trend of growth, culminating in an average combined savings rate of 12.7% in 2023, according to a recent survey conducted by the Plan Sponsor Council of America. This figure reflects a noticeable increase from the 12.1% recorded in 2022. The average employee contribution, or deferral,
In 2023, the transition of student loan accounts from NelNet to Mohela faced substantial scrutiny, labeled as a “faulty” transfer by lawmakers. This transfer culminated in widespread consumer credit reporting errors, with serious implications for nearly two million borrowers. A significant number of these individuals discovered duplicate records on their credit reports, which not only
As 2023 draws to a close, numerous investors find themselves at a pivotal crossroads regarding their bitcoin investments. The cryptocurrency market, which has been marked by volatility, witnessed bitcoin reaching new heights, surpassing $100,000 in early December, representing an astounding 130% increase year-to-date. Such remarkable gains prompt a critical evaluation of one’s investment strategy. Financial
In the ever-evolving landscape of finance, taking proactive steps now can yield significant benefits for your retirement savings. Whether you’re just starting your career or approaching retirement, enhancing your 401(k) contributions for 2025 is crucial. Financial experts suggest that increasing your contributions can make a considerable difference in your retirement portfolio, especially given the changing
The digital asset market has seen a remarkable revival since the conclusion of the November U.S. elections, particularly highlighted by Bitcoin’s impressive leap beyond $107,000 earlier this week. This resurgence can be attributed in large part to the economic policies laid out by President-elect Donald Trump, whose pro-cryptocurrency stance has invigorated investor confidence. Despite the
As the Federal Reserve heads towards another expected interest rate cut, savvy consumers stand on the brink of potentially lucrative opportunities. Analysts anticipate a reduction of one-quarter percentage point by December 18, culminating in a total decrease of a full percentage point since last September. Such cuts are pivotal in shaping the landscape of savings
As the Federal Reserve gears up to potentially lower interest rates, a sense of optimism is blooming among American consumers. Recent findings from the New York Federal Reserve reveal a significant shift in how households view their financial futures. In November, 37.6% of households expressed belief in improved financial situations by the following year, a
In a rare display of cross-party collaboration, the U.S. House of Representatives has taken significant steps toward amending critical Social Security regulations with the passage of the Social Security Fairness Act on November 12. This legislative initiative, which garnered an overwhelming majority of 327 to 75 votes, seeks to eliminate provisions that have been perceived