The financial news that actually matters
Retirees often expect their tax bill to drop once the paychecks stop. In reality, federal income taxes can eat into a fixed-income budget long after full-time work ends. For households headed by someone ages 65 to 74, average federal income taxes reached $5,404 a year in the latest data. That is money that could go…
Nationwide Building Society has trimmed fixed mortgage rates in a move that could intensify competition across the UK home-loan market just as buyers and homeowners are searching for clearer signs of relief. The timing matters. Borrowing costs are no longer at the painful highs seen after the market turmoil of recent years, but they are…
A major retirement-plan change is now in force for some older, higher-paid workers. The costly mistake, however, is assuming last year’s 401(k) catch-up election can stay on autopilot. Beginning in 2026, many employees age 50 and older who used to make pre-tax catch-up contributions must now make those extra contributions as Roth instead. That matters…
The U.S. housing market is no longer moving to the rhythm sellers enjoyed during the pandemic boom.Across much of the country, homes are sitting longer, buyers are negotiating harder, and more sellers are trimming asking prices to attract attention. The pressure point is affordability. After years of sharp price gains and a long stretch of…
The IRS has put inherited IRA beneficiaries back on alert, but not in the way many headlines suggest. The agency did not rewrite the rulebook for inherited retirement accounts in early 2026. What it did was signal that another round of required minimum distribution rules could start applying after a short transition period. For families…
The Internal Revenue Service has released its annual inflation adjustments for tax year 2026. The 2026 tax bracket adjustments release updated federal income tax brackets, the standard deduction, and dozens of other tax provisions. Apparently, this will shape returns filed in 2027. For most households, the practical takeaway is straightforward: more income will stay in…
The standard deduction is getting another lift for the 2026 tax year. For millions of Americans, the 2026 standard deduction increase will be the most important federal tax number to know heading into next year. The Internal Revenue Service says the 2026 standard deduction increase for single filers and married people filing separately will rise…
States that skip a personal income tax can look like an easy win for workers, retirees and business owners. More of each paycheck stays in hand, at least on paper. But the money for schools, roads, police, fire protection and other core services still has to come from somewhere. In practice, that often means heavier…
Employer contributions to 401(k) plans have become a more visible part of the competition for workers, and the numbers show why. Recent plan data indicates the average maximum employer match has climbed to 4.7% of pay, while Fidelity’s broad retirement-plan analysis has also put the average employer contribution rate at about 4.7%. For workers, that…
The latest Social Security overpayment crackdown has left some retirees confronting a jarring possibility: a benefits problem they did not know existed can suddenly turn into a demand for repayment that cuts deeply into the monthly income they rely on to cover housing, food, utilities, and medicine. That is the practical effect of a rapid…