The Money Section | Americans aged 65 and older are increasingly joining the workforce

͏Also, the U.S. economy is expected to experience a “soft landing” in 2024. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [Fort Worth Star-Telegram]( December 28, 2023 • Issue #65 [The Money Section] This week, we’re looking at the new highs reached by major stock indexes, when you need to file taxes in 2024, and how the FAFSA application will change. A market recovery? [All Time Highs]( Rangely García for Money All major stock indexes reached new highs, and experts predict records before 2024. A modest increase of around 200 points could propel the S&P 500 to its all-time high. [See which factors have contributed to a robust market recovery in 2023.]( 📉 What goes up must come down. Wall Street predicts the Fed will cut rates six times in 2024, potentially boosting the stock market. The Fed’s aggressive rate hikes are expected to reverse due to a substantial rate drop. [Read more to find out why falling interest rates historically have a positive impact on stocks.]( 💰 A more stable year ahead? In 2024, the U.S. economy is expected to experience a “soft landing,” with inflation approaching the Fed’s 2% target. While GDP growth surpassed expectations in 2023, it is anticipated to slow next year. [Read more about the factors influencing the economy.]( When are taxes due in 2024? [Deadline]( Shutterstock Though most people need to file by April 15th, 2024, there might be some slight variations depending on where you live. [Read more to learn about the key deadlines.]( 💸 Here’s a tiny boost. The Social Security cost-of-living adjustment (COLA) for 2024 is set at 3.2%, the smallest increase in years. Effective from December but reaching most recipients in January, the increase will raise the average benefit check by $49, reaching $1,907. [Read more.]( 🏦 How much is enough? Savers in their 40s are putting away an average savings rate of 9.1% of their annual salary. Fidelity’s data shows the average balance for savers in their 40s at the end of Q3 was $105,000. [Here’s what Fidelity suggests savers should aim for by age 50.]( The new and improved FAFSA. [FAFSA]( Money; Shutterstock The redesigned FAFSA, known as “Better FAFSA,” will soon have a shorter and more straightforward application process, incorporating direct data transfer from the IRS and reducing the number of questions by over half. [Read more about all the changes headed your way.]( ⏳ Will the bankruptcy route become an option? Biden promised to ease discharging student loans through bankruptcy court, but the effectiveness remains varied. Historically, only about one in a thousand student loan discharges have been successful in bankruptcy court. [Read more about the factors that may determine outcomes.]( 🎓 Gen Z is rethinking the value and price of college. Employers are shifting towards skills-based hiring, valuing practical abilities over degrees, and opening doors for nontraditional paths. [Is the perceived necessity of college fading?]( Smart Money Move Protect your new furry family member with pet insurance [Paw] [Paw] Did you get a new four-legged family member for the holidays? If so, make sure to protect them – this is a time for celebration and joy, but it’s also a time for increased veterinary emergencies. Pet insurance can help you pay for covered unexpected incidents so you can focus on enjoying the season instead of worrying about huge veterinary bills. [View our best pet insurance list to find companies with up to 90% reimbursement options and coverage starting at just $10 per month.]( Stories we're reading this week - [50 (Totally Legal) Ways to Make Extra Money]( - [The Year in Review: Top Stories From 2023]( - [The Best TV Shows Of 2023, According To Everyone]( - [What Is Mortgage Fraud and How to Avoid It?]( - [The Most Dangerous People on the Internet in 2023]( - [More People Are Skipping Home Insurance to Save Money — and It Could Backfire]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails or newsletters from the Fort Worth Star-Telegram. If you no longer wish to receive emails of this type, you may [unsubscribe]( or [update your email preferences](. We are unable to monitor replies to this email. Please [contact customer service]( if you have any questions or concerns. [Privacy Policy]( | [Terms of Service]( | [View in Browser]( Copyright © 2023 Fort Worth Star-Telegram. All Rights Reserved. 2300 W 7th Street Ste. 108, #230, Fort Worth, TX 76107