As parents, one of the most significant gifts you can give your children is the ability to manage their finances effectively. One way to instill a sense of long-term financial responsibility is through the establishment of a Roth Individual Retirement Account (IRA) for your child. While opening such an account is a tremendous step toward
Personal
As we approach 2025, a significant shift in the tax landscape looms on the horizon, echoing the complexities introduced by the Tax Cuts and Jobs Act (TCJA) of 2017. As the expiration dates for numerous tax provisions approach, financial advisors are preparing clients for potential increases in their tax liabilities. Understanding these impending changes and
As the economic landscape evolves, so do the parameters governing Social Security and its impact on American workers. In 2025, millions of retired individuals will receive a 2.5% cost-of-living adjustment (COLA) in their benefits, but alongside this familiar adjustment comes a significant shift for high-income earners due to a change in the taxable earnings threshold.
The Social Security Administration (SSA) recently unveiled the cost-of-living adjustment (COLA) for 2025, which is set at 2.5%. This announcement comes amid an ongoing conversation about the adequacy of benefits in the face of rising inflation rates. While this figure represents a modest increase, it is the lowest adjustment since 2021, a year that saw
As the year draws to a close, many Social Security beneficiaries are anxious to discover the size of their Cost-of-Living Adjustment (COLA) for 2025. Projections indicate that the upcoming increase might be a disappointment for many, with estimates suggesting a modest adjustment of approximately 2.5%. This anticipated move follows a period of unusually high increases
Filing taxes can often be overwhelming, with deadlines, regulations, and the complexities of personal finances weighing heavily on individuals. In April 2023, approximately 19 million taxpayers opted to file for an extension, allowing them an additional six months to complete their federal income tax returns. As the October 15 deadline approaches, many taxpayers are scrambling
In recent years, the landscape of investment fraud has evolved significantly, drawing the attention of regulators and concerned citizens alike. One of the most alarming trends is the emergence of cryptocurrency scams that exploit the vulnerabilities found in emotional connections. Research and law enforcement agencies are sounding the alarm as victims increasingly fall prey to
In the United States, discussions about money often rank as one of the most uncomfortable topics, overshadowed only by subjects like politics and religion. Recent surveys reveal that Americans would rather divulge their voting preferences in a presidential election than discuss their financial situations. A research study conducted by U.S. Bank, involving 3,500 respondents, corroborates
The recent expiration of the one-year grace period for student loan repayments has left many Americans in a precarious financial position. While the initiative aimed to provide a temporary respite as borrowers adjusted to the return of monthly payments, it seems that the reality is far less forgiving. Now, millions are faced with the daunting
As the November elections approach, many Americans find themselves grappling not only with their voting choices but also with how the potential outcomes might influence their financial decisions. According to a recent survey by the CFP Board involving 1,005 individuals, a considerable 63% of Americans are choosing to postpone significant financial commitments such as vacations,
