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Despite missing deadline, Congress avoids government shutdown by passing spending bill without Trump's debt ceiling raise FortuneGovernment Shutdown Live Updates: Latest News on Spending Bill and House Vote The New York TimesCongress avoids a shutdown but leaves 'a big mess' for Trump and Republicans in 2025 NBC NewsGovernment funding bill clears Congress and heads to President Biden, averting a shutdown The Associated Press
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Biden withdraws education rules on student loan relief, trans athletes The Washington PostBiden-Harris admin rolls out another $4.28 billion in student loan handouts Fox NewsBiden forgives $4.28 billion in student debt for 54,900 borrowers CNBC
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Congress passes RFK bill in surprise move, giving D.C. control of stadium site The Washington PostD.C. a realistic option for Commanders' stadium after political Hail Mary The Washington PostSenate passes RFK Stadium bill NBC SportsAnother Commanders Hail Mary: Senate passes RFK Stadium bill in overnight vote WJLA
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Health care reforms, a crackdown on junk fees, pay hikes for lawmakers and more were jettisoned from the legislation
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Trump Media & Technology Group Corp.'s stock fell about 6% Friday after Donald J. Trump transferred his entire $4 billion stake in the company into a revocable trust, according to filings.
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Biden Withdraws Proposed Regulations on Student Loans and Trans Athletes The New York TimesBiden forgives $4.28 billion in student debt for 54,900 borrowers CNBCBiden announces $4.28 billion in student loan relief for 55,000 borrowers ABC News
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The legislation avoids a shutdown, funding the government through March 14.
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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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