It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
The 2017 tax cuts may not have been as beneficial for middle class Americans as advertised. Many provisions, including increased standard deductions and favorable tax brackets, are set to expire unless Congress extends them. Other hidden costs, such as increased property taxes and excise taxes, can offset some of the savings. Consider consulting a tax advisor for personalized advice on how to minimize tax exposure given these complexities.
Mortgage rates have slightly increased to 7.34%, but their future direction depends on the labor market. Rising homeownership costs also include increasing insurance and taxes, especially in areas prone to natural disasters. While the housing inventory is improving, concerns have been raised about a change in commission arrangements for real estate agents, which may affect home sales.
In the coming years, a large number of baby boomers will turn 65, prompting important decisions about Medicare and Social Security. When to enroll in Medicare's hospital and medical coverage and when to claim Social Security benefits are crucial choices with significant financial implications. Medicare Advantage offers additional benefits but may come with trade-offs compared to traditional Medicare. Social Security benefits are reduced for early claims before full retirement age, and increased for delays in claiming up to age 70.
Berkshire Hathaway reported a surge in operating earnings for both the fourth quarter and full year of 2023, driven by its insurance business. The company's cash on hand reached a record $167.6 billion. Geico reported a profitable year, while BNSF faced earnings decline. Insurance underwriting soared by 430% in the fourth quarter, boosting earnings. Berkshire emphasizes that quarterly investment gains or losses may not fully represent its operating businesses' economic performance.
Despite strong earnings and record cash levels, Berkshire Hathaway's stock prices experienced a downturn. Class A shares fell 2.2% and class B shares closed at $409.14. Analysts speculate that the optimistic earnings outlook is already reflected in the current share price. In his annual letter, Warren Buffett anticipates that Berkshire's performance will exceed the average company but will be influenced by its growing size. The company aims to acquire businesses that contribute significantly and avoid substantial capital losses.
