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Nvidia's market cap reached new heights, surpassing Microsoft and Apple and driving the S&P 500 to new records. The author questions whether this rally can be sustained and compares it to the Bitcoin hype of 2021/2022.

These unexpected expenses can derail your retirement. Here's how to get ahead of them.

To fully enjoy your golden years, it's crucial to be aware of potential unexpected expenses that could arise during retirement. Here are some hidden costs that retirees often encounter.

Last week, the Federal Reserve hinted at just one rate cut by year-end, likely in November or December, as inflation slows but stays above 3%. Despite mixed economic data, the S&P 500 and Nasdaq hit new highs, driven by optimism around AI and solid earnings.

October is always a big month for seniors on Social Security. The reason? It's the month when the Social Security Administration announces what cost-of-living adjustment, or COLA, recipients will be privy to in the coming year.

With school out and families gearing up for slower times this summer, it looks like they are going to have some company. The economy may be looking to get some time off and is cooling pretty quickly as well. And consumers are finally beginning to buckle under the weight of interest rates and inflation. After the summer is done and the bills come due, the party may start coming to an end.

Last week's focus was on economic weakness, evident in two key areas: the revised first-quarter gross domestic product (GDP) figures and several bond auctions. Additionally, elevated inflation has persisted for over three years, with the last reading below 3% occurring in April 2021 (2.6%). While 3% may not seem significant, we experienced an annual inflation rate between 7% and 9.1% from December 2021 through November 2022, peaking at 9.1% in June 2022.

Try these strategies to minimize taxes on money you set aside for retirement.

President Biden vows to allow key provisions of the Tax Cuts and Jobs Act to lapse next year if re-elected, potentially leading to increased tax burdens for millions of Americans. Explore the implications and potential impact on individual taxpayers and the economy.

More than 1 in 3 American travelers plan to go into debt for their summer vacations this year.

In 2024, 52% of consumers plan to travel as much as they did in 2023, with another 40% expecting to travel more despite inflationary pressures. While 72% of respondents anticipate spending over $2,000 on travel, nearly half are likely to adjust their plans to mitigate costs, including taking fewer trips or opting for budget-friendly alternatives.

Markets started the week quietly before turmoil hit midweek due to strong jobs and manufacturing data, coupled with Fed minutes hinting at prolonged high rates, causing the Dow's worst day this year. Despite a modest recovery on Friday, uncertainty looms with upcoming PCE data potentially adding volatility and the 10-year Treasury yield stuck at 4.5%.

This week's market commentary highlights the contrasting forces at play. While stock markets hit new highs on hopes of inflation subsiding and potential rate cuts, inflation data remains stubbornly high. The Federal Reserve's response to inflation will be key in determining the market's future trajectory.

Stocks are surging on hopes of Fed rate cuts. A soft GDP and rising unemployment haven't dampened spirits, thanks to the Fed's dovish tone. However, a slowing economy and persistent inflation pose risks. The market rally may hit a wall, so be cautious. Focus on your long-term plan and consider portfolio rebalancing as volatility could pick up.

Markets sold off hard on Tuesday, and it was the worst day for markets in over a year. In a brief four-month period, we have gone from expecting as many as six or seven rate cuts this year to anxiety that the Fed wouldn’t confirm no rate raises in the next few months. But Powell did indeed confirm the Fed plans to stay put (with the appropriate disclaimers, of course) and markets initially liked what they heard.

If you have a 401(k) plan — and about 60 million Americans do — chances are you are invested in a target-date fund. Undoubtedly, such funds can be a handy tool, helping to make retirement planning easier. Yet, they aren’t a cure-all for everyone.

Here are two hypothetical examples of Roth conversions made at different times that show a stark difference in what could be left for your beneficiaries.

Wealthy Americans would lose some of the tax perks they can currently access through various retirement savings accounts under the budget recently proposed by President Joe Biden.