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Wall Street is excited about growing backlogs at some AI infrastructure companies, but some experts caution that there's no guarantee all those orders will be carried out.
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Social Security's cost-of-living adjustment could be as much as 3.6% in 2027.
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Members of Trump's cabinet remained on decoy plane, after Trump's quiet exit BBCEven Some Cabinet Members Didn't Join Trump's Secret Flight. Here's Who Did. The New York TimesJoe Rogan Calls Out Trump's Secret Plane Switcheroo The Daily BeastClose aides, but no Cabinet officials, joined Trump in airport catering truck The Washington Post
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Live updates: Total solar eclipse sweeps across Europe CNNMillions in UK and Europe left wowed by once-in-a-generation solar eclipse BBCTotal Eclipse Blacks Out European Sun The New York TimesCruise ships, quiet towns and an all-day festival: millions flock to eclipse viewing spots across Europe theguardian.com2026's only total solar eclipse darkens skies across Northern Hemisphere. See photos, video from the best viewing locations. CBS News
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Readings for July on the prices consumers pay for goods and services came in pretty much on target.
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Trump in a social media post argued that the policy was costing the city by driving away wealthy people who would otherwise pay taxes there.
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Strong AI earnings lift S&P 500, Nasdaq as inflation data calms rate-hike jitters ReutersHere's the inflation breakdown for July 2026 — in one chart CNBCInflation cooled last month as gas prices fell, though costs remain elevated PBS
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The consumer price index is expected to show only a modest increase for July.
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"The landlord has not been here in months, so I assume it was a previous tenant."
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It's no surprise that many people who inherit millions of dollars are uncertain about what to do with their newfound wealth. The possibilities of becoming a multimillionaire overnight can be overwhelming, especially during a period when most are grieving the loss of a parent or other loved one.
SEE MORE How Much of Your Estate Will Be Lost to Taxes?
I often work with people in many different age groups who have suddenly become wealthy as the result of a windfall inheritance. While there is a need to develop a comprehensive financial plan, it's not the first step. Instead, I try to determine each person's starting point with money. Many people fall into one of three categories:
They are anticipating how they will handle their wealth, but the money hasn't yet arrived.They have their inheritance — often several million dollars — but they are still grieving the loss of a loved one and are looking for guidance on next steps.
The inheritance has been in their bank account for a long period, but they still lack direction and can't make any decisions.
It is important to listen to each person's personal story with a windfall of money. Losing an important person in your life is difficult, and reflecting on the impact that person made is just as important. Many people express a desire to do something to honor a parent's wishes.
Figuring out how to make the best use of an inheritance
Here is how I generally approach these conversations to help a person make the best use of their inheritance:
Define their relat
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Editor's note: This is part six of a seven-part series. It dives more deeply into the second strategy for defusing a retirement tax bomb, implementing asset location. If you missed the introductory article, you may find it helpful to start here.
Most investors have heard of asset allocation, but asset location is another story - and it could help investors with large tax-deferred savings reduce their tax bills in retirement.
SEE MORE When It Comes to Your RMDs, Be Very, Very Afraid!
Asset allocation refers to how a portfolio is allocated to various asset classes that have different historical investment returns and standard deviations. The simplest example is a stock-bond allocation, such as a 60% stock, 40% bond allocation, which is a common allocation for retirees. But there are dozens of more granular asset classes that can be managed as well, for example, U.S. large cap stocks or international small cap value stocks. Asset allocation is critical to effectively diversify your portfolio and reduce risk.
Asset location is different portfolio management strategy: one that few clients I meet have heard of. Few financial advisers implement it as well. Asset location seeks to minimize taxes by placing different asset classes in specific tax buckets (taxable, pre-tax, tax-free).
Putting Asset Location into Practice
In a nutshell, here's how asset location works:
Typically, you want to place investments with low expected returns, such as bonds, into tax-deferred accounts.Place investments with high expected returns, such as small value or emerging market st
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