Money, Wealth & Power—A Daily Look at the Financial World
New federal regulations are about to reshape how millions of Americans save for retirement through their 401(k) plans, and the changes will hit higher earners hardest. The Treasury Department and IRS have finalized rules under the SECURE 2.0 Act that force certain workers to route their catch-up contributions into after-tax Roth accounts, while a separate…
Millions of Americans in their 60s roll funds out of employer-sponsored 401(k) plans every year, often aiming to consolidate savings into an Individual Retirement Arrangement for broader investment choices. Yet one specific version of that transfer, the indirect rollover, quietly ruins retirement plans when the process goes sideways. The tax consequences of a botched rollover…
Billionaire Mark Cuban built his fortune through a mix of sharp timing and disciplined spending habits, and several of his plainest money rules apply directly to retirees trying to protect a fixed income. Cuban’s financial advice, drawn from his own blog and multiple interviews, centers on eliminating the small, recurring costs that quietly drain savings….
Warren Buffett’s decision to step down from Berkshire Hathaway at the end of 2025 carries a message that extends well beyond corporate succession. For anyone within a few years of retirement, the combination of Berkshire’s disclosed financial risks and Buffett’s own defensive cash positioning amounts to the clearest caution he has ever issued about the…
Millions of Americans reach their mid 60s with little or no money in retirement accounts, yet they still manage to leave full‑time work. The reason is simple: Social Security checks arrive every month whether or not someone ever built a large nest egg. The harder question is whether relying mainly on that check is sustainable…
The window for converting a traditional IRA to a Roth IRA at current tax rates is narrowing, and the stakes are climbing. Final regulations from the Treasury and IRS now confirm that mandatory Roth catch-up contributions will apply to taxable years beginning after December 31, 2026, which means higher earners over 50 will soon face…
Missing a required minimum distribution from your retirement account can trigger a 25% penalty, a costly mistake that catches thousands of retirees off guard each year according to IRS enforcement data. Three major RMD rule changes take effect in 2026 that fundamentally alter when you must start withdrawals, which accounts require them, and how inherited…
Market volatility has surged in recent months, leaving the 60 million Americans who hold 401(k) accounts according to Department of Labor data wondering whether their retirement savings can weather another potential downturn. With the Leading Economic Index declining for six consecutive months and unemployment metrics approaching recession thresholds, I’ve identified five critical warning signs that…
Retirees are staring at a strange mix of wanderlust and worry: bucket list dreams on one side, inflation headlines on the other. Yet right now, some key travel costs are unusually favorable, from January 2026 gas prices at $2.81 per gallon to a limited Amtrak rail pass sale at $250, which opens the door to…
Baby boomers are walking away from hundreds or even thousands of dollars at tax time, often because the rules for people 60 and older are scattered across forms and new laws. I see Adults 65 and up miss enhanced deductions, layered credits, and special worksheets that quietly shrink their bill. Here are eight tax breaks…