Every newborn in America will become the owner of their very own Trump account. The latest tax legislation passed by Congress and signed into law creates new tax advantaged investment accounts for every child born from the beginning of 2025 through the end of 2028. These new accounts are designed for children and designed to provide some savings vehicle for families that are interested in creating savings accounts for their children.the $1,000 contribution from the government. That's for eligible newborns, ...

Personal Finance Principles - Prioritize self-investment, including retirement savings, education, and certifications, as a key strategy for long-term financial well-being [1] - Budgeting and living below one's means are crucial for effective saving [2] - Saving thousands of dollars, such as $20,000, early in life can compound significantly over time, potentially leading to millionaire status by age 60 [2] - Early earning years are critical for maximizing the benefits of saving and investment [2]

What's the biggest financial biggest financial mistake that you see people make that you wish that they knew better than. I think I'll just take from my own playbook that invest in things you know. I made that mistake every time invest in things you know.It's always something I don't know. But I don't know anything about candy. I just don't know anything about candy and how but it tastes delicious.I want to eat. Tell me candy. It's so good. It's gluten-free candy.No. But so I would say invest in what you. ...

Well, President Trump and Elon Musk's on again, offagain feud is back on again after the Tesla CEO says he wants to start a new political party over the weekend. Investors may be growing tired of Mus political rhetoric and wishing he would put business first. To that end, we're joined now by senior columnist Rick Newman.Rick, welcome. What is the latest. Hey Josh.Well, uh, Musk threatened before Congress signed the big tax bill and Trump signed before Congress passed it and Trump signed it. He hated that ta ...

Nvidia CEO Jensen Wong met with President Donald Trump at the White House just days before a planned trip to China for the chip designer's chief executive for more on the latest from Nvidia. The only member of the $4 trillion market cap club. Let's welcome in now.Got Dan Ies, Wedbush Securities managing director, global head of technology research. Dan, it is good to see you my friend. I love the look today, Dan.It does look like you know what it looks like today. It looks like I'm interrupting your tea tim ...

Soccer me star Cristiano Ronaldo sign a jaw-dropping 2-year $675 million contract extension with Alnasar to stay in the Saudi pro league. Ronaldo will see his player salary increased by 9% to $245 million per year. According to the Sun, Ronaldo's extension also contains a ridiculous amount of bonuses, including a 15% ownership stake in Alnasar worth $45 million, a $33 million signing bonus that goes up to $52 million if he accepts the secondyear player option in the deal, $82 million in promised sponsorship ...

What do you make of what we've seen so far in terms of some of these agreements between the US and other countries. As a former trade negotiator, the minute I heard about their objectives here, I just thought they were totally unrealistic. Trade negotiations take time.And the notion you're going to be simultaneously negotiating with dozens of countries just really limits the bandwidth of the negotiating teams. And so, yeah, I think more time is needed. August 1 now is the next deadline.And even though the p ...

Social Security Overpayment Recovery - The Social Security Administration is recouping overpayments by withholding 50% of a beneficiary's monthly check until the total overpayment is reclaimed [1] - Beneficiaries can contact the Social Security Administration to request smaller payment amounts or petition to waive the payment altogether if they cannot afford it [6][7] - Beneficiaries can also request a reconsideration if they believe they were not overpaid or it wasn't their fault [7] Impact of Income on Social Security Benefits - Capital gains from selling a house are not considered earned income and will not directly affect Social Security benefit amounts [10] - Increases in provisional income can lead to a greater portion of Social Security benefits being subject to income tax; provisional income is calculated as adjusted gross income (AGI) plus municipal bond interest and half of Social Security benefits [11] Senior Tax Deduction - A new tax policy includes an additional deduction of up to $6,000 per taxpayer aged 65 and older, regardless of whether they currently receive Social Security benefits [12][13] - The senior deduction is age-based, not benefit-dependent, and is available to both itemizers and those using the standard deduction, requiring a valid Social Security number [13][14] - The deduction is temporary, set to expire in 2028, and is subject to modified adjusted gross income phase-outs beginning at $150,000 for joint filers [14][15] - The White House projects this deduction will increase the number of beneficiaries paying no tax on their benefits from 40-50% to 88% [15] Roth IRA Conversion Planning - A $6,000 deduction equates to $12,000 per couple, but this deduction is reduced to zero between $150,000 and $250,000 of modified adjusted gross income, creating a potential tax cliff for Roth conversions at the $150,000 level [16][17] - Taxpayers should model Roth conversions before executing them to determine whether it's more beneficial to convert before or after age 65 [18] Medicare Premiums - The $6,000 senior deduction can lower adjusted gross income, potentially impacting Medicare premiums, which are determined by adjusted gross income on a sliding scale [20] - Changes in adjusted gross income affect Medicare premiums with a two-year lag; for example, 2025 premiums are based on 2023 income [21] - The Medicare Part B premium is estimated to increase 11% to above $200 for 2022 [21]

Market Overview & Strategy - Investors are seemingly overlooking tariffs, focusing on earnings and the Federal Reserve, though potential risks remain [1][2] - The economy shows signs of weakening, with less than 50% of industries hiring in the past 3 months and consumer spending growth slowing [5][6] - The S&P 500's valuation at 245 times trailing 12-month earnings and 23 times forward 12-month earnings, with an expected 7% growth, appears optimistic [8] - Investors should broaden horizons, considering small-cap stocks, which are at their second-lowest valuation relative to large-cap stocks in 31 years [9] - International stocks are up around 20% year-to-date and are expected to continue performing well, potentially boosted by a weaker dollar [10] Small Cap & Interest Rates - Small-cap stocks present opportunities, especially with deregulation and lower tax rates potentially stimulating growth [9][13] - While historically lower rates reset the cycle for small caps, companies are adapting to current rates [12][13] - Investors with a time horizon beyond the next three minutes should consider small-cap stocks for the next 3-7 years, anticipating a cycle of different market leadership [15] Earnings Season & Forward Guidance - Forward guidance is crucial for investors to assess the impact of tariffs on individual companies [16] - Investors should pay attention to what they are paying for earnings revisions, as some large-cap stocks outside of technology trade at 40-60 times forward earnings [17] - A return to basics is advised, focusing on a margin of safety, valuation, and macroeconomic headwinds that may favor international and small/mid-cap stocks [18] Market Pullback & Investor Behavior - Historically, after reaching market peaks, the market continues to rise over 12-18 months, averaging 26%, but with drawdowns of 7% and 12-15% [20][21] - Long-term investors are advised to stay the course, while active investors should add optionality to their portfolios, considering low valuation stocks or hedging strategies using options [23][24] - A market dip is expected to be bought by retail investors, consistent with post-2020 behavior [27][28] AI & Tariff Impact - Structural AI leaders continue to be attractive, with adoption occurring across industries for both cost-cutting and revenue enhancement [33] - The market's shrug in response to recent tariff letters may be premature, given the potential for deals to be struck before August 1st [36][37]

Company Performance & Strategy - Nvidia's CEO Jensen Huang met with President Trump, indicating the importance of trade policy for Nvidia's future, especially concerning AI and China [1] - Netflix is scheduled to report earnings on July 17, prompting anticipation regarding the company's performance and outlook [1] Market Trends & Economic Factors - The Fed's July FOMC meeting and potential rate cuts are under close observation, with Wall Street insiders providing insights on the outlook for these rate cuts [1]