Mastodawn

Bernie Sanders’ Social Security Plan https://financialfreedomcountdown.com/bernie-sanders-proposes-200-social-security-boost-funded-by-new-taxes-on-income-above-250000/?utm_source=flipboard&utm_content=JohnDealbreuin%2Fmagazine%2FRETIREMENT

Bernie Sanders Social Security Plan Would Boost Benefits And Extend Program Solvency For 75 Years - Financial Freedom Countdown

Sen. Bernie Sanders has reintroduced legislation that would expand Social Security benefits by about $200 per month on average while strengthening the program’s finances. The proposal would fund the increase by applying Social Security taxes to income above $250,000 and certain investment and business income earned by higher-income households.

Financial Freedom Countdown

Financial Freedom Countdown Mar 9

Retirement nest egg https://financialfreedomcountdown.com/americans-say-they-need-2-million-to-retire-but-most-have-less-than-150000-saved-blackrock-ceo-warns/?utm_source=flipboard&utm_content=JohnDealbreuin%2Fmagazine%2FRETIREMENT

Americans Say They Need $2 Million To Retire; But Most Have Less Than $150,000 Saved, BlackRock CEO Warns - Financial Freedom Countdown

Larry Fink warned that most Americans are far behind on retirement savings, with many believing they need about $2.1 million to retire comfortably while the majority have saved less than $150,000. As reliance on 401(k)s grows and Social Security Administration faces long-term funding pressure, experts say more retirees are returning to work and companies are exploring new strategies to create reliable retirement income.

Financial Freedom Countdown

Financial Freedom Countdown Mar 5

California “billionaire tax” could impact middle class Americans https://financialfreedomcountdown.com/billionaire-tax-could-hit-the-middle-class/?utm_source=flipboard&utm_content=JohnDealbreuin%2Fmagazine%2FEVERYTHING+TAXES

Chamath Palihapitiya Warns California’s Billionaire Tax Could Hit The Middle Class Next - Financial Freedom Countdown

Venture capitalist Chamath Palihapitiya warned that California’s proposed billionaire tax could eventually expand to hit the middle class, saying the state’s budget troubles may push lawmakers to broaden the levy.

Financial Freedom Countdown

Financial Freedom Countdown Mar 5

Proposal to index capital gains tax exemption limits to inflation https://financialfreedomcountdown.com/gop-senators-press-treasury-to-approve-200-billion-capital-gains-tax-break-bypassing-congress/?utm_source=flipboard&utm_content=JohnDealbreuin%2Fmagazine%2FEVERYTHING+TAXES

GOP Senators Press Treasury To Approve $200 Billion Capital Gains Tax Break Bypassing Congress - Financial Freedom Countdown

Sens. Ted Cruz and Tim Scott are urging the Treasury Department to approve a $200 billion capital gains tax cut by indexing gains for inflation without congressional approval, arguing the move would boost investment, create jobs and ease housing market pressures. The proposal faces legal uncertainty and criticism from tax experts who say it would overwhelmingly benefit wealthy households and likely require an act of Congress.

Financial Freedom Countdown

Financial Freedom Countdown Mar 4

Sanders introduces Wealth Tax bill in Congress https://financialfreedomcountdown.com/sanders-introduces-federal-5-wealth-tax-bill-as-democrats-clash-over-california-model-and-2028-ambitions/?utm_source=flipboard&utm_content=JohnDealbreuin%2Fmagazine%2FEVERYTHING+TAXES

Sanders Introduces Federal 5% Wealth Tax Bill As Democrats Clash Over California Model And 2028 Ambitions - Financial Freedom Countdown

Sen. Bernie Sanders and Rep. Ro Khanna plan to introduce legislation imposing a 5% federal wealth tax on billionaires, a proposal projected to raise $4.4 trillion over a decade without increasing taxes on anyone worth less than $1 billion. The revenue would fund $3,000 direct payments to households earning under $150,000, expand Medicare and Medicaid, and is emerging as a potential flashpoint in the 2028 Democratic presidential debate, particularly amid divisions over California’s billionaire tax model.

Financial Freedom Countdown

Financial Freedom Countdown Jan 13

If you have already started collecting benefits early and are offered a job that is financially and personally rewarding, don’t let the earnings test stop you from taking it before reaching FRA.

Maximize Your Benefits: Essential Social Security Strategies For Singles - Financial Freedom Countdown

For singles, smart planning around Social Security benefits can make a big difference in maximizing retirement income. Starting benefits early at age 62 is an option for those needing immediate income, but waiting until age 70 yields higher payouts. Keep in mind potential earnings tests and tax implications, including state-specific taxes on benefits. Consider all income sources and your longevity when deciding the best time to claim, and remember to weigh the impact of Required Minimum Distributions (RMDs) and the Medicare surcharge (IRMAA).

Financial Freedom Countdown

Financial Freedom Countdown Jan 12

In the fourth quarter, single-family homes constituted more than two-thirds of investor acquisitions, accounting for 68.6% (compared to 68.8% a year earlier).