Living in a world where prices seem to be constantly on the rise can put a significant strain on individuals and families. According to a survey by CNBC/SurveyMonkey, 65% of U.S. adults attribute their financial stress to inflation. This economic pressure has led to a situation where a large percentage of people are living paycheck
Personal
In an attempt to level the playing field and provide better opportunities for higher education, Connecticut has implemented various initiatives to increase access to college and reduce the burden of student debt. While the state has a long-standing wealth gap issue, it is striving to make college more affordable and accessible to all its residents.
President Joe Biden’s economic advisor recently addressed the forthcoming discussion surrounding the expiration of trillions of dollars in tax breaks implemented by former President Donald Trump. Without any modifications from Congress, certain provisions from the Tax Cuts and Jobs Act (TCJA) of 2017 will terminate after 2025. These include lower federal income tax brackets, an
When considering a Roth individual retirement account (IRA) conversion, it is important to understand the potential tax savings that can be achieved. A Roth conversion involves transferring pretax or nondeductible IRA funds to a Roth IRA, where they can grow tax-free. While there is an upfront tax liability on the converted balance, the long-term benefits
President Joe Biden is aiming to initiate the forgiveness of student loans for millions of Americans ahead of the November presidential election. However, before this plan can be put into action, his administration must carefully review the public comments submitted by individuals regarding his debt relief proposal. These comments were made available in the Federal
As the baby boomer generation ages, there is a significant shift in wealth underway. Liz Koehler, head of advisor engagement for BlackRock, states that baby boomers are projected to pass on over $68 trillion to their children as part of the “great wealth transfer.” However, recent reports indicate a growing disparity between the expectations of
The annual trustees’ report released by the Social Security Administration recently stated that the trust funds used to pay benefits are now expected to run out in 2035, which is one year later than previously projected. At this projected depletion date, it is anticipated that 83% of benefits will still be payable if Congress does
Rebekah Alstede Modery and Sarah Alstede, who grew up on a New Jersey farm, have decided to continue their careers on the family farm. Rebekah, who graduated in 2023 with a double major in agricultural business and sustainable agricultural production, felt a strong connection to the farm and its marketing aspects. Sarah, on the other
In a competitive job market, equity compensation has become a sought-after benefit for many employees. According to a 2023 survey from Morgan Stanley, 72% of companies offer some form of equity compensation, up from 65% in 2021. These perks can motivate employees and help them achieve their long-term financial goals. However, despite its popularity, some
The popular Public Service Loan Forgiveness program is currently undergoing a partial processing pause, which started on May 1 and is expected to last through July. This pause is part of the Biden administration’s efforts to revamp the federal student loan program, which has faced numerous challenges since its inception in 2007. Signed into law
