Financial Services

As the stock market experiences volatility, Gen Xers nearing retirement are urged to remain calm and avoid rash decisions. Financial experts recommend focusing on key investment questions, such as risk tolerance and time horizon, to guide their actions and ensure their retirement savings remain on track.

Tax debt, a common financial burden, arises when individuals owe more taxes than they've paid, leading to potential consequences like liens, passport restrictions, and even criminal prosecution. The IRS offers various programs to help taxpayers resolve their tax debt, including payment plans, offers in compromise, and penalty abatement.

High inflation and the rising cost of living have led to a surge in credit card debt, with many Americans struggling to make payments. Credit card debt forgiveness programs offer a potential solution, allowing borrowers to negotiate settlements with creditors and potentially reduce their debt by 30% to 50%.

President Trump's executive order to dismantle the Department of Education has raised concerns among experts about the potential impact on federal student loan programs and borrowers. Experts warn that the sudden downsizing of the Education Department, including the dismissal of staff responsible for managing student loan debt, could lead to confusion, frustration, and potentially a spike in loan defaults.

Paul Safarik, a man with Down syndrome, has achieved financial independence thanks to ABLE accounts, a program that allows people with disabilities to save money without jeopardizing government benefits. ABLE accounts offer tax-free investment earnings and can be used for qualified disability expenses, empowering individuals like Paul to build a secure future.