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It's not just about the OpenAI and Anthropic game-day ads — football's biggest event is even being powered by AI technology
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‘I think we'll be the main event': Justin Gaethje confident Ilia Topuria fight is next for him at UFC White House MMA FightingView Full Coverage on Google News
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The action in stocks on Thursday showed just how quickly simmering concerns in one corner of the market can boil over into a large-scale rout.
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Let's say you purchase a used car from a dealership and later want to bring it back for a refund. Do you have the legal right to get your money back regardless of the reason? Does the "Three-Day Cooling Off Period" apply?
That's what "Mack" thought.
‘I Looked Under the Seats and Found Drug Paraphernalia!'
"I bought a used SUV two days ago and want to take it back to the dealer for a refund, but when I told them why they laughed at me and refused," Mack told me in a call recently.
When I asked if there was anything mechanically wrong with the vehicle, he replied, "No, it drives fine, but it is what I found under the front seats that scares me: dangerous drug paraphernalia." His tone of voice grew increasingly strident the longer we spoke.
And what was he looking for under the front seats?
SEE MORE PODCAST: Car-Buying in an Inflated Market with Jenni Newman
"For money or jewelry sometimes that winds up there, but instead I found vaping equipment! That's illegal! I don't know what other illegal items are in the car, and I want my money back! Also, don't I have three days to cancel the contract?"
I explained to Mack that while there is such a thing as a Three-Day Cooling-Off Rule, in most all cases - including this one - it doesn't apply to car purchases. And besides, in his state, mere possession of vaping hardware is not illegal. Unless he had the right to bring the car back for a refund - spelled out in the sales contract - the dealership could decline his request.
Car Buyers Shouldn't Believe the 3-Day Myth
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Editor's note: This is the final part of a seven-part series. It dives more deeply into the third strategy for defusing a retirement tax bomb, which is Roth conversions. If you missed the introductory article, you may find it helpful to start here.
Because they offer tax-free qualified withdrawals, Roth IRAs and Roth conversions can be a critical strategy for defusing the retirement tax bomb that traditional IRAs, 401(k)s and other pre-tax savings accounts can set you up for in retirement.
A Roth conversion is when you transfer money out of a pre-tax retirement account into an after-tax Roth. Typically, every dollar you convert is taxed as ordinary income, unless the pre-tax account was also funded with after-tax dollars.
SEE MORE Don't Move to Another State Just to Reduce Your Taxes
Here's the problem though: Most people who are facing a retirement tax bomb and are still working probably have high incomes and are in a high marginal tax bracket. The last thing they want is a Roth conversion, which adds to their income and would be taxed at high tax rates.
Instead, this is a good strategy to consider in low-income years, especially for people who retire early in their 50s and early 60s who may have several years to do conversions before Medicare means testing surcharges, Social Security income and RMDs kick in. Many of my clients do several years of annual Roth conversions starting early in retirement.
Three Windows for Roth Conversions
The first window for Roth conversions is the years before enrolling in Medicare, but recal
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