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When it comes to planning for retirement, it’s essential to explore all available options to lower your tax bill and boost your savings. One lesser-known strategy that can benefit married couples is the spousal IRA. This unique opportunity allows non-working spouses to contribute to an individual retirement account, providing a current-year tax break and increasing
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In a recent letter to shareholders, BlackRock Chair Larry Fink highlighted the growing crisis surrounding Americans’ ability to afford retirement as life expectancies increase. Fink pointed out that there is a significant decrease in the capacity of individuals to retire in a financially secure manner, labeling it as one of the key economic challenges of
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Recently, Democratic lawmakers, including Sen. Elizabeth Warren and Sen. Ron Wyden, raised concerns about the potential reduction in Social Security benefits for millions of older adults who are behind on their student loans. According to the lawmakers, when borrowers are in collections, their Social Security benefits could be reduced by an average of $2,500 annually.
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The Mega Millions jackpot, which reached an astounding $1.1 billion, poses significant financial challenges for potential winners. While the grand prize is not as high as last year’s record $1.6 billion, winners still need to navigate through various obstacles to secure their winnings. With two payout options available – a lump sum of $525.8 million
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The latest analysis on the housing market reveals a slowing down in the rate at which home prices are growing. In February, U.S. home prices increased by 0.6%, aligning with the average monthly gain over the past eight years leading up to the onset of the Covid-19 pandemic. This phenomenon, as stated by Daryl Fairweather,
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