#tax-advantaged-accounts

#tax-advantaged-accounts

By 2034, he says, Social Security's reserves are expected to run out of money if nothing changes. "Depending on what Congress does (or doesn't do), future retirees might need to prepare for the possibility of reduced benefits, and workers might see a hike in Social Security taxes," added Ramsey. Bottom line - we can't count on the government to take care of us in retirement.

These accounts are intended to operate as long-term, tax-advantaged investment vehicles or savings accounts, in which the federal government will put $1,000 per child (born during Trump's second term) to work. Via the power of compounding, the hope is that this $1,000 the government invests in our youth of today will turn out to be a much more meaningful sum 18 years (or longer) down the line,

If you're near retirement, consider pushing your savings as close to the max as you can afford. The 401(k) already has high contribution limits, $23,500 in 2025.