In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024. The first provision allows for tax- and penalty-free rollovers from a 529 plan... Read more
Economists have been predicting a recession for the U.S. economy ever since the Federal Reserve began aggressively raising interest rates in 2022. This is Econ 101. High interest rates, which make it more expensive to borrow, are intended to tame... Read more
A recent AARP study found that nearly half of all private sector employees ages 18 to 64 had no access to a retirement plan at work. It also found that small businesses are more likely to lack a work-based plan,... Read more
The IRS issued about 95 million federal income tax refunds by May 12, 2023 (for tax year 2022), averaging $2,812.1 You might consider this type of windfall a stroke of good fortune, but is it really? You probably wouldn’t pay... Read more
With the COVID pandemic receding in most areas of the world, Americans are traveling again. U.S. citizens took more than 80 million international trips in 2022, an increase of almost 66% over 2021.1 If you’re planning a foreign vacation, here... Read more
A couple of federal personal tax credits are available for the installation of certain energy efficient or clean energy property in your home. The energy efficient home improvement credit is available for qualifying expenditures incurred for an existing home or... Read more
A 2023 survey revealed a notable shift in public opinion over the past decade about the value of a college degree: 56% of Americans think a four-year college degree isn’t worth the cost due to students graduating with significant debt... Read more
Mutual funds pool investment dollars from many individual investors to purchase a group of selected securities aimed at meeting a particular objective. This offers a convenient way to invest across a wide range of market activity that would be difficult... Read more
The U.S. Department of Health and Human Services considers child-care costs to be affordable when they are at or below 7% of annual household income — but many families face costs that are far above that threshold. In fact, about... Read more
Headline inflation, which refers to the 12-month increase in the Consumer Price Index (CPI), increased 9.1% in June 2022 — the highest rate since 1981 — before the U.S. economy began the fraught process of disinflation.1 Disinflation means the rate... Read more
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