The average 401(k) savings rate in the U.S. has reached a historic high, climbing to 14.3% of income when accounting for both employee and employer contributions, according to a new report from Fidelity Investments.
Jun 06, 2025
Millions of Americans could lose health insurance under the House Republicans’ sweeping tax and spending legislation, the One Big Beautiful Bill Act, according to analyses by the Congressional Budget Office (CBO) and independent health policy experts.
Jun 06, 2025
Denmark will raise its public pension retirement age to 70 by 2040, setting the highest retirement threshold in Europe and sparking renewed discussion over whether the United States might pursue a similar path.
Jun 05, 2025
House Republicans passed a new spending package on Thursday that includes an expansion of the child tax credit, raising the maximum benefit to $2,500 per child between 2025 and 2028.
May 23, 2025
House lawmakers on Thursday passed President Donald Trump’s new tax bill, which includes a provision to create federally funded savings accounts for children, dubbed “Trump Accounts.”
May 23, 2025
House Republicans are advancing a tax package that would eliminate key clean energy tax credits, including those for electric vehicles (EVs) and home energy-efficiency improvements, potentially forcing consumers to act quickly to claim the benefits before they expire.
May 22, 2025
A new Republican-backed tax bill proposes sweeping changes to the Supplemental Nutrition Assistance Program (SNAP), potentially slashing the program’s funding by nearly 30%—a move experts say would mark the largest cut in the program’s history.
May 22, 2025
House Republicans have introduced a proposal for a temporary $4,000 tax deduction aimed at seniors, as part of their “One, Big, Beautiful” tax bill. The deduction is positioned as a more cost-effective alternative to eliminating taxes on Social Security benefits.
May 21, 2025
The U.S. Department of Education has revealed a backlog of nearly 2 million income-driven repayment (IDR) plan applications, leaving federal student loan borrowers in limbo as they await approval or denial of their requests.
May 21, 2025
The delinquency rate for student loan balances has surged following the resumption of federal loan collections, raising concerns over broader financial instability, according to a recent report from the Federal Reserve Bank of New York.
May 20, 2025
Moody’s Investors Service downgraded the U.S. sovereign credit rating from Aaa to Aa1 on Friday, citing the growing burden of the federal government’s budget deficit. The move is expected to lead to higher borrowing costs for consumers across a range of financial products.
May 20, 2025
A growing number of Americans are unprepared for the high costs of long-term care, which experts say can exceed $100,000 and remain largely uncovered by health insurance or Medicare.
May 19, 2025
Following a five-year pause, the Trump administration announced on April 21 the resumption of collection efforts on defaulted federal student loans, including wage garnishment, tax refund seizures, and reductions to Social Security benefits.
May 19, 2025
As property taxes continue to rise across the U.S., experts advise that appealing an inaccurate assessment may result in substantial long-term savings for homeowners.
May 16, 2025
Social Security recipients who have defaulted on federal student loans may soon see a reduction in their monthly benefits, as the Trump administration resumes involuntary collection efforts.
May 15, 2025
The Social Security cost-of-living adjustment (COLA) for 2026 is currently projected to be the lowest increase in five years, with early estimates pointing to a 2.4% rise in benefits, according to projections by policy analyst Mary Johnson and The Senior Citizens League.
May 14, 2025