Your employer may automatically re-enroll you if you’re not saving in your 401(k)

Article: Automatic 401(k) Reenrollment: What This Means for You A new trend in company retirement plans has been gaining traction – 401(k) plan “reenrollment.” This trend involves companies automatically enrolling workers into their workplace 401(k) plan if they are not currently participating. While automatic enrollment typically applies to new hires, reenrollment applies to all workers…

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What is the maximum income in 2024 that allows you to still pay 0% in capital gains taxes?

Investors and financial planners are buzzing about the potential for avoiding capital gains tax in 2024, as the IRS released inflation adjustments, including increases in income tax brackets, and income thresholds for capital gains. Certified financial planner Tommy Lucas emphasized the opportunity to take gains next year and the prospect of selling long-term assets or…

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31% of millionaires claim they belong to the middle class

Feeling wealthy is becoming a rare luxury for most people these days. A recent Ameriprise Financial survey found that only 8% of millionaires consider themselves wealthy, while 31% identify as middle class. This feeling of financial insecurity is attributed to inflation, high interest rates, and economic uncertainty. Even highly paid professionals, termed as the “regular…

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Delays in bank deposits pose challenges for customers

Customers at several major banks, including Bank of America, Chase, Truist, U.S. Bank, and Wells Fargo, experienced direct deposit delays due to an industry-wide processing issue on Friday. The outages were reported by banking customers, although the exact nature of the complaints was not specified. However, according to Downdetector, there was a surge of reported…

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