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Closed-end funds are considered to carry higher risk but may provide a higher income stream than traditional mutual funds holding similar securities.
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It’s important for heirs to consider how a windfall might be used to strengthen their finances now and over the long term.
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Unlike retirement accounts, there are no federal contribution limits for variable annuities, and the investment gains won’t be taxed until they are withdrawn.
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The One Big Beautiful Bill Act (OBBBA) provides an annual deduction of up to $10,000 for interest paid on qualifying new auto loans, effective for tax years 2025 through 2028.