Vice President Kamala Harris has recently outlined her economic agenda, which includes calling for higher taxes on wealthy Americans and corporations. Her plan, endorsed in August, mirrors the tax increases proposed by President Joe Biden in his budget for fiscal year 2025. One of the key components of this plan is the implementation of a
Personal
Recent data from the Kaiser Family Foundation shows a significant increase in the number of Americans aged 55 to 64 opting for Marketplace health insurance. This trend is largely driven by the fact that most Americans are not eligible for Medicare before the age of 65, making this option a crucial one for younger retirees.
Young adults often face the brunt of economic downturns, with many finding themselves disconnected from the labor force. A recent report by the Federal Reserve Bank of St. Louis highlighted that approximately 16% of 18- to 24-year-olds are neither employed nor enrolled in high school or college, earning them the moniker of “disconnected youth.” Factors
As per recent research conducted by Bank of America, travel spending among American households has risen significantly, surpassing pre-pandemic levels. The surge in travel spending is mainly attributed to a growing interest in international trips. Economists Taylor Bowley and Joe Wadford point out that vacationing abroad has become a key driver of travel momentum, leading
As the Federal Reserve considers cutting interest rates, there is uncertainty surrounding the future of the U.S. economy. With the possibility of a recession on the horizon, those approaching retirement are facing heightened concerns about the security of their retirement savings. Anne Lester, author of “Your Best Financial Life,” emphasizes the importance of having a
As the season of fall foliage and pumpkin spice lattes approaches, so does the idea of a potential “September surge” in the job market. The concept suggests that more job postings become available after Labor Day, following a summer slowdown when job recruiters and hiring managers are typically on vacation. While this theory lacks hard
Recent research has shed light on the efficacy of automated retirement savings plans, such as 401(k) plans, that have been implemented by many employers. While the idea of auto-enrollment and auto-escalation initially seemed promising, new findings indicate that the long-term impact may not be as significant as previously thought. This research, published by the National
Retirees who have been struggling with the high costs of prescription drugs will soon receive a much-needed relief starting in 2025. A recent report from AARP indicates that starting in January of that year, annual out-of-pocket drug costs for Medicare drug plan enrollees will be capped at $2,000. This change is anticipated to make a
In the world of investing, asset allocation is a commonly known concept that involves choosing the right mix of stocks and bonds to balance risk and return. However, many investors overlook the critical aspect of asset location, which refers to the types of accounts in which these assets are held. According to financial advisors, asset
The U.S. Department of Education has revealed additional information about the upcoming rollout of the 2025-26 Free Application for Federal Student Aid (FAFSA). The new application will undergo beta testing with limited groups of students starting on October 1, before being released to all students and contributors on or before December 1. According to the