According to the 2024 UBS Global Wealth Report, the U.S. is home to more than 22 million millionaires. That’s about 1 in 15 Americans claiming membership in the two-comma club. Some, of course, got rich the old-fashioned way — they inherited it — but most built their wealth from scratch. According to Northwestern Mutual’s 2024 […]
When Americans measure success, they’re not often thinking about their net worth or account balances. About 59% of polled Americans say that happiness — specifically, the ability to spend money on things that make them happy — is the most important benchmark of success, according to a new report by Empower, a financial services company. […]
Helping your teens and adult kids get started saving for their future can give them a tremendous advantage in the future. Here are a few ways you can help them start off on the right foot, in no particular order. 1. HSA opportunities for everyone Health savings accounts (HSAs) have a couple of features that […]
Energy prices have increased this autumn and are set to rise further in January as Ofgem announced it was raising the price cap by 1.2%. As well as driving up the average energy by £21 a year, it comes as the Winter Fuel Allowance has been removed for many pensioners and amid the coldest time of […]
Social Security is a complex system. Run by the Social Security Administration (SSA) most people assume it is just retirees who receive checks ever month to cover monthly expenses, but this could not be farther from the truth. The SSA runs five main programs, each with their own quirks and details that can be unknown […]
“I will govern by a simple motto: Promises made, promises kept.” President-elect Donald Trump said those words during his victory speech on Nov. 6, 2024. He made multiple promises during the presidential campaign. One pledge was especially important for America’s senior citizens. Federal taxes on Social Security benefits could be eliminated if Trump has his […]
Winter is making its way to mid-Michigan with signs of the first snowfall on the way Neighbors in Lansing are seeing increased rates to their energy bills Video shows one expert offering tips on how to save money on your energy bill As winter makes its way to mid-Michigan, neighbors will more than likely turn […]
As some Americans struggle to save for retirement, key 401(k) plan changes could soon make preparing easier for certain workers, experts say. Enacted by Congress in 2022, “Secure 2.0” ushered in sweeping changes to the U.S. retirement system, including several updates to 401(k) plans. Some of these provisions will go into effect in 2025. Meanwhile, […]
Thousands of farmers protested this week over changes to inheritance tax (IHT) announced in the Budget. They say capping Agricultural Property Relief (APR) at £1m could end family farming in Northern Ireland and threaten food production. But just how many farms here are likely to be affected? What’s it all about? APR began in 1984. […]
Social Security is a complex system. Run by the Social Security Administration (SSA) most people assume it is just retirees who receive checks ever month to cover monthly expenses, but this could not be farther from the truth. The SSA runs five main programs, each with their own quirks and details that can be unknown to those that do not […]
The Social Security Administration recently announced the cost-of-living adjustment (COLA) for 2025, and beneficiaries can expect a 2.5% raise (amounting to around $50 per month for the average retiree) heading into next year. But that’s not the only change coming for Social Security. A new year brings a slew of new income limits that could […]
If you’re saving for retirement in a workplace plan, pay attention. Signing up for your workplace 401(k) plan is one of the best things you can do for your retirement. The neat thing about 401(k)s is that they’re funded automatically through payroll deductions. This means that once you sign up, your employer is the one […]
