The recent imposition of tariffs by the U.S. government is poised to have significant consequences for consumers and the broader economy. With President Donald Trump signing off on tariffs affecting key trade partners—25% on imports from Canada and Mexico, and 10% on those from China—economists are voicing concerns about the long-term implications. The complexity of
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In 2025, Social Security beneficiaries will see a cost-of-living adjustment (COLA) of just 2.5%, which is the smallest increase since 2021. This adjustment translates to an average monthly increase of about $50, as reported by the Social Security Administration (SSA). While any increase is welcomed, this modest adjustment highlights ongoing concerns regarding the purchasing power
Tariffs have emerged as a focal point of economic discourse, particularly during the Trump administration. President Donald Trump’s agenda concerning tariffs has stirred both support and skepticism. As he moves forward with plans to impose substantial tariffs on imports from Canada, Mexico, and China—set to take effect on February 1—economists warn that these decisions may
For renters in the United States, recent data suggests a promising development in the rental market. By December 2022, the median asking rent price had fallen to $1,695, marking a slight decrease of 0.5% from the previous month. This dip, while modest, represents a significant shift compared to the peak rental prices experienced in mid-2022.
The Child Tax Credit (CTC) offers significant financial relief for millions of families annually. However, many tax filers often make critical errors that can delay their refunds, leading to unnecessary financial strain. As we approach the 2024 tax season, it’s crucial for taxpayers—especially those with children—to understand how to correctly navigate this credit and optimize
Mergers and acquisitions (M&As) are common occurrences in the corporate sector and can significantly reshape the landscape of companies involved. While these transactions offer businesses opportunities for growth and strategy alignment, they often leave employees feeling anxious, especially concerning their retirement benefits. This article outlines the implications of M&As on retirement plans, the legal protections
As the tax season commenced on January 27, the Internal Revenue Service (IRS) has been inundated with millions of tax returns as individuals rush to secure their refunds. This rush is not merely for economic convenience but rather out of necessity; a recent survey by Credit Karma revealed that nearly 40% of taxpayers are counting
As recent reports shine a light on millennials’ financial gains, the narrative surrounding this generation is shifting dramatically. Once labeled “lazy” and “entitled,” millennials have made substantial strides in building wealth. According to analysis by the St. Louis Federal Reserve, millennials collectively hold approximately $15.95 trillion in net worth as of 2022, a significant increase
In today’s landscape, many young adults find themselves grappling with financial instability, leading to significant stress regarding their economic wellbeing. Recent surveys have revealed alarming insights into the financial stresses faced by individuals aged 18 to 35. According to a survey conducted by Intuit, a staggering 61% of respondents in this age group reported feeling
As we transition into a post-pandemic economy, many older investors are grappling with the implications of governmental policy shifts on their retirement finances. With the dawn of President Donald Trump’s second term, it is crucial for those nearing retirement to stay vigilant about upcoming changes effective in 2025. Despite many being caught off guard by