When saving for retirement, you can often pick between traditional and after-tax Roth contributions — and determining the right choice may be trickier than you expect.
President Donald Trump’s “no tax on tips” deduction offers financial planning opportunities for some workers. Enacted via Trump’s “big beautiful bill,” the provision allows certain workers to deduct up to $25,000 in “qualified tips” per year from 2025 through 2028.
President Donald Trump’s “big beautiful bill” includes a new savings plan for children with a one-time deposit of $1,000 from the federal government for newborns.
Investors may feel an impulse to move to cash amid the recent tumult in the stock market. While cash might feel safer than stocks, it can also pose risks for long-term savers.
In a landmark decision, the U.S. Senate has passed H.R. 82. This legislation repeals two provisions—the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO)—that have long reduced Social Security benefits for public servants and retirees receiving pensions from non-Social Security-covered employment.
After decades of building your nest egg, you will eventually have to start taking required minimum distributions, or RMDs, from pretax retirement accounts. The first RMD can be tricky, according to financial experts.
In 2022, the IRS proposed mandatory yearly withdrawals for heirs if the original account owner had already started their required minimum distributions, or RMDs. But the agency has since waived penalties for heirs’ missed RMDs amid confusion.
