8legs: Investopedia

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#1 out of 3

Fed data show Americans aged 55–64 posted a median income of $82,150 in 2022, reflecting peak midlife earnings.
Homeowners earn more than renters, with medians of $94,040 versus $42,160, widening income gaps.
Net worth for 55–64 sits at a median of $364,270, illustrating wealth gaps beyond income.
A college degree correlates with higher earnings, contrasting with lower figures for those without a diploma.
Earnings disparities reflect broader retirement risks, emphasizing savings and debt management.
The Fed notes income rises through midlife, then levels off in late 50s to early 60s.
The analysis stresses comparing earnings to peers while considering overall financial health.
The report highlights the role of home equity in wealth and retirement planning.
Experts advise comprehensive retirement planning beyond income, including assets and debt management.
The article links retirement readiness to pensions and Social Security as part of a broader income picture.

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#2 out of 3

The ACA subsidy cliff has reappeared, raising premiums for many near the 400% FPL.
Earning just $1 above the threshold can erase the subsidy, raising costs for individuals.
Experts recommend adjusting income to stay under 400% FPL, such as contributing to a 401(k) or an HSA.
Tax-loss harvesting could help reduce taxable income by offsetting gains with losses.
Planning for MAGI accuracy is crucial when applying for premium tax credits in advance.
KFF and Healthcare.gov sources are cited for background on subsidies and eligibility.

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#3 out of 3

This year, baby boomers will collectively pass roughly $84 trillion to heirs by 2045, reshaping the U.S. economy.
Heirs should plan with wills, trusts, and gifting to minimize taxes and preserve wealth.
The step-up in basis rule resets asset cost bases to their current market value for inherited assets.
Annual gift exclusions allow gifting up to $19,000 per person annually without IRS reporting.
Trusts help control asset distribution, avoid probate, and protect beneficiaries.
Estate planning and conversations with planners can prevent disputes during transfers.
The wealth shift will notably affect housing inventories as boomers downsize or pass on homes.
Beneficiaries must understand tax rules to maximize wealth transfer.
The article emphasizes consulting financial planners and CPAs early in the process.
Understanding estate tax exemptions is crucial for large estates.

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