As the political landscape shifts with the election of Donald Trump, discussions surrounding tariffs have intensified, raising concerns about their potential ramifications on various industries, particularly automotive manufacturing. The prospect of increased tariffs on imports, especially from China, Mexico, and Canada, poses significant implications for vehicle pricing and availability in the United States. Tariffs serve
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In the ever-evolving landscape of retirement planning, 401(k) savings rates have shown a notable upward trend, according to a recent survey from the Plan Sponsor Council of America. As of 2023, the average combined savings rate has increased to 12.7% — a modest yet significant rise from the previous year’s 12.1%. This increase is a
In 2023, a problematic transfer of student loan servicing from NelNet to Mohela resulted in significant consumer credit reporting errors, raising alarms among lawmakers. The faulty transition reportedly led to the appearance of almost two million duplicate student loan records on borrowers’ credit reports. This situation not only impacted the accuracy of borrowers’ credit scores,
Bitcoin has been a hot topic among investors, particularly in light of the significant bull run it experienced in recent months. The digital currency surpassed the monumental $100,000 mark earlier this December and has yielded an impressive gain of over 130% in value year-to-date. As such gains materialize, investors are faced with critical decisions: should
As we look ahead to 2025, it’s crucial for those planning for retirement to consider bolstering their 401(k) contributions. Financial advisors indicate that the upcoming changes provide a unique opportunity to increase retirement savings. The 401(k) contribution limit is set to rise from $23,000 in 2024 to $23,500 in 2025, offering savers the chance to
As the Federal Reserve prepares to potentially lower interest rates again, individuals and investors alike are faced with a critical juncture in cash management. With forecasted cuts of 0.25% expected soon, the opportunity for higher returns on cash savings becomes increasingly appealing. Experts, such as Greg McBride from Bankrate, signal that current lucrative rates on
Since the conclusion of the November U.S. elections, the digital asset market has experienced a remarkable upswing, highlighted by Bitcoin’s impressive performance, peaking above $107,000 recently. This increase can be partially attributed to anticipated pro-cryptocurrency policies from President-elect Donald Trump. The momentum suggests a growing interest in cryptocurrencies, yet it is crucial to approach these
As the Federal Reserve prepares to lower interest rates during its impending two-day meeting, reports indicate a notable shift toward optimism among American consumers. After enduring a prolonged phase of high inflation, households are beginning to express more favorable views regarding their financial futures. The New York Federal Reserve recently reported a significant increase in
The Social Security Fairness Act, recently passed by a decisive majority in the House of Representatives, stands as a prime example of the complexities surrounding social welfare policies in America. While proponents heralded its bipartisan support as a significant step toward rectifying perceived injustices against public sector workers, critics argue that its implications could result
As we approach 2025, a cloud of tax uncertainty looms over individuals and businesses due to Congress’s anticipation of negotiations around President-elect Donald Trump’s signature economic agenda. While it may seem daunting to adjust to yet another potential makeover of the tax landscape, financial experts suggest that investors can glean valuable lessons from Trump’s 2017