As the eligibility for Medicare begins at age 65 for most Americans, many younger retirees turn to Marketplace health insurance for coverage. This option provides lower monthly premiums until the end of 2025, thanks to enhanced tax breaks. The data from the Kaiser Family Foundation shows a significant increase in Marketplace coverage among Americans aged
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In recent years, the labor market has shown signs of strain, with young adults bearing the brunt of the impact. A worrying 16% of 18- to 24-year-olds are currently not employed and not enrolled in high school or college, leading to a categorization as “disconnected youth.” These individuals, also known as NEETs, are choosing to
Recent research from the Bank of America indicates that travel spending among American households continues to surpass pre-pandemic levels. This trend is largely fueled by a surge in international trips, according to economists Taylor Bowley and Joe Wadford. They highlight that vacationing abroad is a key driver of the current travel momentum. Despite a slight
The Federal Reserve’s decision to cut interest rates has left experts in a state of uncertainty regarding the future of the U.S. economy. The possibility of a recession looms over the horizon, causing concern among individuals, especially those nearing retirement. The risk of facing a sudden market decline poses a threat to the retirement nest
As the season of fall foliage and pumpkin spice lattes approaches, job seekers may find themselves in a more promising job market. Many career experts believe in the “September surge,” a phenomenon where more job postings become available post-Labor Day. This surge is attributed to the end of the summer slowdown when job recruiters and
Automated 401(k) savings plans have been heralded as a game-changer in the realm of retirement planning. However, recent research has uncovered some critical flaws in the system that cast a shadow on their effectiveness. While policies like auto-enrollment and auto-escalation have been lauded for their potential to enhance workers’ nest eggs, the reality is far
Retirees who have been concerned about the skyrocketing costs of prescription drugs can breathe a sigh of relief starting in 2025. A new change will take place in January of that year that will cap the annual out-of-pocket drug costs for Medicare drug plan enrollees at $2,000. This new measure is projected to bring significant
When it comes to investment strategies, many investors are familiar with the concept of asset allocation. However, what often gets overlooked is the importance of asset location, particularly for wealthier investors. Asset location focuses on minimizing taxes to boost after-tax returns, making it a crucial component of financial planning that should not be ignored. The
The U.S. Department of Education recently announced additional details regarding the rollout of the new Free Application for Federal Student Aid (FAFSA) for the upcoming academic year. The 2025-26 FAFSA will be implemented through a phased rollout approach, which aims to address the issues that plagued the last year’s college aid application cycle. The 2025-26
In a booming stock market environment, it is essential to consider alternative strategies to rebalance your portfolio and potentially save on future taxes. One such tactic, tax-gain harvesting, involves strategically selling profitable assets in your brokerage account during lower-income years, such as early retirement or periods of unemployment. With the S&P 500 surging more than