Should you prepare now for the proposed tax increases? If you’re wealthy and concerned about the possible ramifications, this is the time to strategize. Schwab’s Michael Townsend and Hayden Adams offer a number of ways to protect your portfolio. The fight over the debt ceiling could have “cataclysmic” consequences. That’s according to a new report from Moody’s, which details the potential cost to the U.S. economy. College students may not be prepared for healthcare emergencies. Serena O’Neil and Ryan Crayne provide an essential healthcare checklist.
Will Taxes Rise for the Wealthy? — The U.S. House Ways & Means Committee recently approved a package of tax increases on the wealthy to help fund a $3.5 trillion “Build Back Better Act,” an economic package that includes expanded Medicare, free community college, universal prekindergarten, and more. They may not all be passed into law, but if you’re concerned about the risk to your portfolio, you should prepare for the changes now. Schwab offers a number of strategies. Read more…
U.S. Default This Fall Would Cost 6 Million Jobs, Wipe Out $15 Trillion In Wealth, Study Says — The United States could plunge into an immediate recession if Congress fails to raise the debt ceiling and the country defaults on its payment obligations this fall, according to one analysis released Tuesday. Mark Zandi, chief economist at Moody’s Analytics, found that a prolonged impasse over the debt ceiling would cost the U.S. economy up to 6 million jobs and wipe out as much as $15 trillion in household wealth. Read more…
An Essential Healthcare Checklist For College Students — Parents checked off tasks to get their college students ready to go back to school. If it’s not already on the list, they need to make sure that their college student has appropriate healthcare documents in place for anything that comes their way. Serena O’Neil and Ryan Crayne offer a list of the documents they’ll need. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller