As the season of fall foliage and pumpkin spice lattes approaches, so does the idea of a “September surge” in the job market. It is often believed that more job postings become available after Labor Day, signaling the end of a summer slowdown as recruiters and hiring managers return from vacation. However, career experts caution
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The concept of auto-enrollment and auto-escalation in 401(k) plans has long been hailed as a game-changer in retirement savings. However, recent research has shed light on the harsh reality behind this seemingly foolproof strategy. The National Bureau of Economic Research published a paper revealing that certain factors, such as workers cashing out their 401(k) balances
Retirees who are concerned about the rising costs of prescription drugs can look forward to some much-needed relief starting in 2025. Beginning in January, Medicare drug plan participants will have their annual out-of-pocket drug costs limited to $2,000. As a result, an average of 1.4 million Medicare Part D enrollees will experience savings of $1,000
When it comes to investing, many people focus solely on asset allocation without paying enough attention to tax implications. Asset allocation involves choosing the right mix of stocks and bonds to balance risk and return. However, where these assets are held in terms of account types can significantly impact after-tax returns, particularly for wealthier investors.
The U.S. Department of Education has recently provided more information regarding the implementation of the new Free Application for Federal Student Aid (FAFSA) for the upcoming year. The 2025-26 FAFSA will be released to select groups of students through beta testing starting on Oct. 1 before being accessible to all students and contributors by Dec.
Tax-gain harvesting is a strategy that involves strategically selling profitable assets in your brokerage account during lower-income years to rebalance your portfolio and save on future taxes. This tactic is particularly effective during strong stock market years when the S&P 500 and other indices are performing well. By realizing gains at a 0% capital gains
Minnesota Governor Tim Walz recently highlighted the vital role of Social Security survivor benefits in his family’s life during the Democratic National Convention. After his father passed away when he was 19, leaving his family with significant medical debt, Walz shared how Social Security benefits provided them with the ability to maintain their standard of
The federal government has implemented a strict measure to ensure that individuals with seriously delinquent tax debt do not escape their financial responsibilities. When an American taxpayer accumulates a federal tax debt exceeding $62,000 and repeatedly fails to address it, the IRS and Treasury Department notify the State Department. This notification leads to the potential