If you’ve hit the $5 million mark in retirement savings, you’ve achieved a major milestone that you should be proud of. But does that mean you can finally stop saving? Up Next: 4 Retirement Expenses Boomers Didn’t Plan for — but Should Have Try This: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too GOBankingRates asked financial experts to weigh in on whether this milestone signals financial freedom, or just another checkpoint. Retirement Flexibility Matters More Than You ...

Many nonprofits are facing financial challenges because of federal funding cuts and termination of contracts. Now, the government shutdown is adding to disruptions just as the most popular season for charitable giving gets underway. Sharon Eper joins us right now with more on your money and upcoming tax changes for donations.Good morning, Sharon. Good morning, Becky. You know, whether it's providing disaster relief, child care, support for seniors, or other needs in local communities, many nonprofits are co ...

Core Viewpoint - The South African arm of Ford Motor is planning retrenchments due to decreased European orders for its Ranger pickup truck, influenced by recent tax changes in the UK and weak export volumes for its plug-in hybrid Ranger model [1] Summary by Relevant Categories Company Impact - Ford's South African operations are directly affected by lower demand for the Ranger pickup truck in Europe [1] - The planned retrenchments are a response to these declining orders, indicating potential operational adjustments within the company [1] Industry Context - The automotive industry is facing challenges related to changing tax regulations in key markets like the UK, which can significantly impact sales and production strategies [1] - The sluggish performance of the plug-in hybrid Ranger model in export markets highlights broader trends in consumer preferences and market dynamics within the automotive sector [1]

Tax Policy Impact - Tax changes under President Trump's megabill create winners [1] - Older Americans donating from traditional IRAs benefit from the tax changes [1]

Charitable Giving Landscape - Charitable giving reached a record $590 billion in the past year, primarily driven by stock market wealth [2] - Tax changes could cause a significant shift in who gives and how much [2] Tax Law Changes - New charitable deduction of up to $1,000 for individuals and $2,000 for married couples taking the standard deduction [3] - Itemizers, mainly the wealthy, will not be able to deduct the first 0.5% of their gross income given to charity [3] - Deduction limits for those in the top tax bracket allow claiming only a 35% tax deduction for charitable gifts, down from 37% [4] Impact Assessment - Supporters believe the changes will encourage more giving by everyday Americans [4] - Others estimate the changes will reduce overall giving by more than $8 billion [4]