When it comes to assessing one’s retirement readiness, many individuals tend to compare their 401(k) balances with others in their age group. However, recent data from Fidelity suggests that looking at balances by industry may provide a more accurate comparison point. The average 401(k) balance for investors on Fidelity’s platform in the first quarter was
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As we approach the second-quarter estimated tax deadline for 2024 on June 17, it is crucial to understand the significance of making timely payments to avoid penalties. The IRS mandates that individuals who earn income without withholdings, such as from contract jobs, freelancing, gig economy work, or small businesses, must make quarterly estimated tax payments.
The real estate market is currently experiencing a surge in new listings, with an increase of 13% from a year ago. However, despite the rise in properties being listed for sale, homes are taking longer to sell as potential buyers are facing high prices and interest rates. This is creating a situation where the number
As the effects of climate change continue to become more apparent, coastal real estate is facing unprecedented challenges. From California to New York, coastal properties are experiencing heightened risks of flooding and erosion. The recent hurricane season has already begun, with above-normal activity predicted, leading to concerns about the future of coastal real estate. The
As Congress engages in a crucial discussion regarding the impending decision on trillions in expiring tax breaks, the spotlight has been on several Democratic proposals aimed at increasing taxes on corporations and wealthy Americans. Advocates of these plans argue that they are necessary to address income inequality and the federal budget deficit. Among the topics
In the past week, mortgage rates experienced significant fluctuations due to economic data releases and overall market conditions. The Mortgage Bankers Association reported a surge of nearly 16% in total mortgage applications, driven by a decrease in rates for 30-year fixed-rate mortgages. However, this trend was short-lived as rates bounced back up following a stronger-than-expected
The U.S. Treasury Department and Internal Revenue Service have recently announced that more than $1 billion in tax credits is being provided as an upfront cash incentive to buyers of electric vehicles. This initiative was established through the Inflation Reduction Act, which allows for tax credits worth up to $7,500 for new EVs and $4,000
Major League Eating dropped a bombshell when they announced that they would be parting ways with 16-time champion Joey “Jaws” Chestnut ahead of the Nathan’s Famous Fourth of July hot dog eating contest. The decision came after Chestnut decided to represent a rival brand that sells plant-based hot dogs instead of the traditional meat version.
The Supplemental Security Income (SSI) program was established 50 years ago as a federal lifeline for people with disabilities and older adults. Since its inception, the maximum monthly benefit has increased to $943 for individuals and $1,415 for eligible couples. However, the average monthly benefit for individuals remains at around $698, falling significantly below the
GameStop shares took a significant hit on Monday, dropping by approximately 12%. This decline comes on the heels of a substantial sell-off that occurred last Friday. The stock, which reached about $25 per share on Monday, had already fallen by nearly 40% the previous day. The downward trend was initiated by an underwhelming earnings report