A 75-Year-Old With $3 Million in a 401(k) Realizes Three Years of Required Minimum Distributions Will Result in $42,000 in Medicare Surcharges
quick read A $3 million 401(k) at the age of 75 would mean an RMD of $122,000, pushing the Modified Adjusted Gross Income (MAGI) to $200,000 and resulting in a $564 monthly Medicare surcharge. Consider a Roth conversion before RMDs kick in and roll those funds into an IRA to enable $111,000 in qualified charitable […]
The RBA aims to eliminate surcharges on debit and credit cards, but banks are resisting.
Banks’ Credit Card Fee Increases Looming Credit card fees are on the rise, and banks are warning it might soon get harder to earn rewards. This does make one wonder: are we nearing the end of credit card usage as we know it? And what will become of those loyalty programs? Bank Reaction The Reserve […]
RBA calls for a ban on surcharges for debit and credit card payments
Proposed Changes to Credit Card Fees Highlights Potential Savings Protection Banks argue that eliminating extra credit card charges could save consumers approximately $1.2 billion annually. Starting in July 2026, additional fees for debit and credit card payments via EFTPOS, MasterCard, and Visa will be removed. Additionally, the new RBA proposal suggests that businesses utilizing card […]
American consumers hit with tariff surcharges amid trade war
American consumers are noticing a new line of shopping receipts: tariff surcharges. Even if President Donald Trump suspends 90 days on tariffs, businesses and customers are feeling the impact of importing products, particularly from China. Additional charges have appeared in several industries, affecting almost everything from clothing prices to car manufacturing. Some companies charge flat […]
China tariff surcharges are showing up on American consumers’ receipts
O'Leary Ventures Chairman Kevin O'Leary explains how the US can fix trade and economic problems with China “once once” in “Editing the Evening.” American consumers are noticing a new line of shopping receipts: tariff surcharges. Even if President Donald Trump suspends 90 days on tariffs, businesses and customers are feeling the impact of importing products, […]
McDonald’s brushes off surcharges on eggs, will offer $1 McMuffins
McDonald said Tuesday that it will launch the $1 McMuffins on the app in a move that will attract US consumers without charging an additional fee when serving eggs as part of the meal. “Unlike others who have been making news recently, there's no doubt that McDonald's US will issue an extra fee for eggs. […]