The Senate tax and spending bill passed a procedural hurdle in a 51-49 vote over the weekend, and the chamber could start a "vote-a-rama" on amendments to the package Monday morning. President Donald Trump has indicated that he wants the bill on his desk by July 4.
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Some people living in US households earning $250,000 or more annually, placing them in the top 10% of earners, still do not feel wealthy due to rising costs of housing, education and utilities. "Even people who are doing pretty well aren't maybe as satisfied as we might imagine," said Matt Killingsworth of the University of Pennsylvania.
Many members of Generation Z are showing motivation to save for retirement, and financial experts note that policy changes such as the SECURE 2.0 package may be contributing to this behavior. "Default enrollment and contributions really skirt around that human behavior component and just gets people started early," said Melody Evans of TIAA. Fintech tools and savings apps may also be playing a role.
The summer stock market rally is expanding beyond technology giants such as Nvidia and Microsoft, with sectors such as financials, industrials and utilities benefiting from the trend. The S&P 500 and Nasdaq Composite Index have reached record highs, driven by improved market breadth as more stocks climb above their 50-day moving averages.
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Estate planning involves more than just setting up the proper legal vehicles and documents, writes Eric Bond of Octave Wealth Management. A comprehensive estate planning playbook can bridge the gaps by detailing asset locations, account access and personal wishes, helping families navigate emotional and logistical challenges after a loss.
Writing in response to reader questions, financial planner Liz Weston discusses issues related to Social Security benefits as well as final tax returns after a person's death. With regard to Social Security, Weston notes that "survivor benefits have different rules than spousal benefits, which are based on the earnings record of someone who is still alive."
