Izusek | E+ | Getty Images Exchange-traded funds are generally known for passive strategies. But there has been a surge in actively managed ETFs as investors seek lower costs and more precision, experts say. Active ETFs represented just more than 2% of the U.S. ETF market at the beginning of 2019. But these funds have […]
Maximum Social Security retirement benefit: Here’s who qualifies
Twenty47studio | Moment | Getty Images Millions of Social Security beneficiaries will benefit from the 2.5% cost-of-living adjustment for 2025, set to take effect in January. With that increase, the maximum Social Security benefit for a worker retiring at full retirement age will jump to $4,018 per month, up from $3,822 per month this year, […]
There’s a key change coming to 401(k) catch-up contributions in 2025
Aire Images | Moment | Getty Images Many Americans face a retirement savings shortfall. However, setting aside more money could get easier for some older workers in 2025. Enacted by Congress in 2022, the Secure Act 2.0 ushered in several retirement system improvements, including updates to 401(k) plans, required withdrawals, 529 college savings plans and […]
Here’s how to get a tax deduction for natural disaster losses
David Hester inspects damage to his house after Hurricane Helene made landfall, in Horseshoe Beach, Florida, Sept. 28, 2024. Chandan Khanna | Afp | Getty Images After a natural disaster, some victims may be eligible for tax relief — but qualifying can be tricky, tax experts say. In late September, Hurricane Helene ravaged parts of […]
Medicare open enrollment lets retirees shop for new health-care coverage
Morsa Images | Digitalvision | Getty Images Medicare open enrollment for 2025 is set to begin on Tuesday. Beneficiaries have from Oct. 15 until Dec. 7 to evaluate their Medicare coverage options and select new plans for next year. Experts say it’s an important opportunity retirees should not ignore. However, just 30% of people on […]
How to incentivize your kid to start investing for retirement
Momo Productions | Stone | Getty Images Once you’ve decided that opening a Roth individual retirement account for your child is a great idea, now comes the hard part: convincing the child to save for a far-off retirement instead of spending that hard-earned money. I have some ideas for making the case to your child. […]
Trump’s tax cuts could expire after 2025. How advisors are preparing
Republican presidential nominee former President Donald Trump attends a rally at the site of the July assassination attempt against him, in Butler, Pennsylvania, Oct. 5, 2024. Brian Snyder | Reuters More from FA 100: Here’s a look at more coverage of CNBC’s FA 100 list of top financial advisory firms for 2024: It’s unclear which […]
Here’s the deflation breakdown for September 2024 — in one chart
Jeff Greenberg | Universal Images Group | Getty Images Inflation has eased gradually across the broad U.S. economy, and some areas of consumer spending, such as furniture and gasoline, have even deflated over the past year. Deflation is when prices decline for goods and services. It is rare for prices to fall from their current […]
Here’s why the Social Security COLA is smaller for 2025
Lordhenrivoton | E+ | Getty Images The Social Security Administration on Thursday announced that the cost-of-living adjustment will be 2.5% in 2025. When that increase goes into effect, it will be the lowest adjustment to benefits that beneficiaries have seen since 2021, when the cost-of-living adjustment, or COLA, was 1.3%. The Social Security cost-of-living adjustment […]
Hiring a questionable contractor may come with risks, experts say
Visoot Uthairam | Moment | Getty Images Home repairs and renovations are expensive. To lower costs, 1 in 3 homeowners are willing to hire a contractor with holes in their resume. About 33% of surveyed homeowners say they’d consider hiring a contractor with a questionable reputation to save money, according to a new report by […]