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Independence Day is a good time for barbecues and fireworks, but it’s also a good time to think about money matters, given that half of the year has been reached. In the United States, vaccinations allowed the economy to resume its ascent and despite persistent supply chain problems and inflation fears, financial markets cheered. As of June 30, 2021, the S&P 500 Index had a total return of 16%. Below you’ll find a wealth of stories designed to help you with everything from Roth IRAs to income taxes and student loans.
S&P highs, crypto lows
The stock market profited his second best first semester in 23 years, highlighting a strong economic recovery. But it’s not all fun and games: Here’s what to do with the crypto crash pulling down the speculative market. As the price of bitcoin hovers around $ 33,000, some 650 U.S. banks will soon be able to offer bitcoin purchases to around 24 million customers in total. Additionally, as the Robinhood stock trading app gears up for its highly anticipated IPO (for which he publicly filed his S-1 on Thursday), he must deal with a $ 70 million fine from financial regulators.
Party like a Roth star
Are you a pre-retiree, between 60 and 72 years old? Principal contributor William Baldwin describes seven strategies for managing your income. For those who are still diligently adding to your retirement accounts, consider the value of a traditional vs. Roth 401 (k) and maybe even learn some lessons from billionaires and their Roth IRAs. Despite a few disturbing recent headlines, rest assured that if you are alive and reading this newsletter, the pandemic is unlikely to shorten your life expectancy.
Alternatives to student loans?
A new federal report reveals that a large number of student loan officers are engaged in systematic mismanagement of the popular civil service loan forgiveness program. At the same time, a growing number of borrowersavoid student loans with “income sharing agreements”, in which they agree to pay a percentage of their salary for a fixed period.
“Another month, another explosive rise in house prices,” writes contributor Richard McGahey. Here is why America’s failure to build new housing could be to blame. And as the country emerges from the pandemic, families still struggle to understand how to manage the high costs of child care.
New graphic: With vaccines in arms, Americans return to the skies for Independence Day.
Inside the tax fight for remote work
Remote work is here to stay for many Americans. Yet the Supreme Court just said it won’t hear a case that could have changed the way remote worker incomes are taxed across the country, but here is why this tax battle is far from over. Can’t reach the IRS by phone? Climate change could be the culprit.
Soften the salt plug
A new survey found that a slim majority of Americans believe the federal government should end the improvement in weekly unemployment of $ 300 as soon as possible. In 2020, states collectively reduced their budgets by $ 4.1 billion to avoid deficits despite billions of pandemic aid from Washington. And 14 states and counting have implemented a workaround to help their taxpayers avoid the Trump-era SALT tax cap Return.