Markus Andrews

Student loan borrowers are encountering delays and backlogs while trying to access debt forgiveness programs.
Meanwhile, a law that shielded student loan forgiveness from taxation is expiring at the end of 2025.
These combined events could leave borrowers owing an unexpected tax bill to the IRS.

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Delayed loan relief may trigger a new ‘penalty’

The American Rescue Plan Act of 2021 made student loan forgiveness tax-free at the federal level through the end of 2025. Trump’s “big beautiful bill” did not extend or make permanent that broader provision.
Without action from Congress, student loan borrowers who get their debt forgiven under the U.S. Department of Education’s income-driven repayment plans, or IDRs, would face a federal tax bill again starting in 2026. IDR plans cap people’s monthly payments at a share of their discretionary income and cancel any remaining debt after a certain period, typically 20 years or 25 years.
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The recent delays to loan forgiveness are a result of multiple changes. Among them:

The Education Department said earlier this summer that it was pausing the loan discharge component on the Income Based Repayment, or IBR, plan, while it responds to recent court orders. That freeze remains in place. “They have given no guidance as to when they may resume,” said Nancy Nierman, assistant director of the Education Debt Consumer Assistance Program in New York.

Loan forgiveness is also paused on other IDR plans, including the Income-Contingent Repayment, or ICR, plan, the Education Department says. Meanwhile, millions of borrowers enrolled in a new repayment plan — which was supposed to expedite loan forgiveness for many borrowers — under the Biden administration that is now defunct.

As of the end of July, more than 1.3 million applications were pending at the Education Department from borrowers trying to access an IDR plan, recent court documents show. Many of these borrowers are likely trying to leave a program in which loan forgiveness is paused or unavailable.

Unless the U.S. Department of Education “acts quickly” to forgive the debt of eligible borrowers, they “could face significant tax bills on debt relief that should have been granted to them without penalty,” lawmakers, including Sen. Bernie Sanders, I-Vt., recently wrote in a letter to Education Secretary Linda McMahon.

Loan forgiveness tax liability could be significant

The tax bill on student loan forgiveness can be significant.
The average loan balance for borrowers enrolled in an IDR plan is around $57,000, said higher education expert Mark Kantrowitz.
For those in the 22% tax bracket, having that amount forgiven would trigger a tax burden of over $12,000, Kantrowitz estimates. Lower earners, or those in the 12% tax bracket, would still owe around $7,000.

Borrowers could also be on the hook for state taxes. Many states mirror the federal government’s tax policy on student loans, meaning more states may start to levy the aid next year as well, experts say.
Debt relief granted under the Public Service Loan Forgiveness program is not subject to federal taxes, although borrowers may owe their state a bill. As of July 31, there was a 72,730-person backlog of borrowers waiting to have the Department of Education help them access their PSLF loan forgiveness.

What to do about the possible tax bill

Borrowers who expect they’ll become eligible for student loan forgiveness in 2025 “should save all payment records with their servicers,” Nierman said.
“If necessary, they can use this information to prove they were entitled to forgiveness during a year in which it is not subject to tax,” she said.
For borrowers who anticipate the relief after Jan. 1, 2026, Nierman recommends starting to plan for the tax bill by salting away some money when you can in preparation.

The headquarters of the Department of Education on March 12, 2025 in Washington, DC.
Win McNamee | Getty Images

Borrowers often don’t have to pay the entire tax bill in one sum, she added.
“They can request a plan through the IRS to spread the payments over a longer period of time,” Nierman said. Meanwhile, if your liabilities exceed your assets or you’re dealing with a serious financial hardship, you may be able to reduce or eliminate the bill altogether, she said. More

“Quiet cracking” refers to the idea of persistent unhappiness in the workplace, leading to disengagement, poor performance and a desire to quit, according to a new report.
However, workers feel less encouraged to switch jobs as companies slow down hiring.
Here’s what frustrated employees should consider, according to experts.

Maskot | Maskot | Getty Images

Before employees engage in “quiet quitting,” first come signs of “quiet cracking.”
“Quiet quitting” refers to the idea of an employee doing the bare minimum at work, according to ResumeBuilder.

Meanwhile, “quiet cracking” is a “persistent feeling of workplace unhappiness that leads to disengagement, poor performance, and an increased desire to quit,” according to a new report from cloud learning platform TalentLMS, which coined the term. While they are both different responses to burnout and stress, quiet cracking could lead to quiet quitting in some cases, experts say.
“Unlike burnout, it doesn’t always manifest in exhaustion. Unlike quiet quitting, it doesn’t show up in performance metrics immediately. But it is just as dangerous,” the report notes.
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More than half, 54%, of surveyed employees say they experience some level of quiet cracking, according to the TalentLMS report. About 47% said they rarely or never feel that way.
The survey polled 1,000 employees in the U.S. across industries in March.

Frank Giampietro, chief wellbeing officer at the Americas offices of EY, a professional services and accounting firm, said via email that quiet cracking and quiet quitting are “two sides of the same coin.”
“Both are responses to burnout in the workplace, and both can be an issue for organizations, if unaddressed,” he said.

‘They feel detached, but they also feel stuck’ 

Terms like quiet cracking, quiet quitting and the so-called great resignation all showcase underlying trends in the broader labor market, said Cory Stahle, a senior economist at Indeed, a job search site. 
“If we look at the great resignation, a lot of that was about people jumping jobs,” he said. “And that really mirrors what we saw in the underlying data.” 
But now, the job market isn’t so good — more people are staying put in current roles, and there’s not an easy outlet to remedy the experience of quiet cracking.

Quiet cracking is another way of describing employee detachment, where workers feel “less connected, less satisfied with their employer, more likely to be looking for other work,” said Jim Harter, a workplace expert at Gallup.
“They feel detached, but they also feel stuck, and it’s not good for employers,” he said.
The cost of disengagement in the U.S. is approximately $2 trillion in lost productivity, according to an August report from Gallup.

‘People have been less encouraged to switch jobs’

In late 2021 and throughout 2022, at the height of the great resignation, if a worker felt like it was time for them to move on from a current role, there were plenty of job opportunities to choose from, said Stahle. At the same time, wages were rising at a fast pace, so many individuals engaged in job-hopping. 
Such conditions “encouraged people to resign,” said Stahle.
About 60% of workers who switched jobs from April 2021 to March 2022 saw an increase in their real earnings over the same month the year prior, according to a 2022 report by the Pew Research Center. Among workers who stayed at their current roles, 47% experienced wage growth.

They feel detached, but they also feel stuck.

Jim Harter

However, the economy has slowed down since then. Due to growing economic uncertainty fewer workers have been quitting their jobs and companies have slowed down hiring, experts say.
The idea of job switching to grow your income has also flipped — since February, wages for job stayers have outpaced the earnings of job switchers, according to Federal Reserve data.
“As job postings have become less plentiful, as wages have slowed down, people have been less encouraged to switch jobs,” said Stahle.

A ‘two-way street’

Several factors can cause worker disengagement and burnout, such as a lack of clear goals, the workload and poor relationships at work, experts say.
There are ways workers can reclaim a sense of agency in the situation, said Harter. Workers who feel disengaged and frustrated need to reach out to their manager, express what they’re experiencing and perhaps ask for guidance, he said.
However, it should also be a “two-way street,” he said. 

While organizations may be going through business challenges as well, Harter said leaders have the power to impact their organizational structure. 
“Employers can do a lot about it if they’ve got great leadership and good management that are in touch with people,” said Harter. 

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Customers shop at a Home Depot store on August 19, 2025 in Chicago, Illinois.
Scott Olson | Getty Images

Investors seeking steady returns amid macro uncertainties ought to consider adding dividend-paying stocks to their portfolios.
Given the vast universe of dividend-paying stocks, it can be challenging for investors to identify the most attractive ones. To this end, the recommendations of top Wall Street analysts could make the task easier, as the decisions of these experts are based on in-depth financial analysis.

Here are three dividend-paying stocks, highlighted by Wall Street’s top pros, as tracked by TipRanks, a platform that ranks analysts based on their past performance.

MPLX LP

We begin with MPLX LP (MPLX), a diversified, master limited partnership (MLP) that owns and operates midstream energy infrastructure and logistics assets and provides fuel distribution services. The company recently announced an agreement to acquire Northwind Delaware Holdings LLC for about $2.38 billion. The deal is expected to enhance the company’s Permian Basin natural gas and natural gas liquids (NGL) value chains.
Meanwhile, MPLX reported distributable cash flow (DCF) of $1.4 billion for the second quarter, enabling the return of $1.1 billion of capital. MPLX offers a current dividend yield of 7.5%.
Recently, Stifel analyst Selman Akyol reaffirmed a buy rating on MPLX stock and increased the price forecast to $60 from $57. The analyst explained that while MPLX’s Q2 results fell short of his expectations, he remains encouraged by the company’s growth, further bolstered by its recent Northwind acquisition and its gathering and downstream operations. The analyst added that it may take 12 to 18 months to see the full impact as expansions roll out.
“Management remains confident in its ability to grow its distribution at 12.5% for the next several years,” said Akyol. The analyst highlighted that MPLX has grown both its EBITDA (earnings before interest, tax, depreciation, and amortization) and DCF at a compounded growth rate of 7% over the last four years. He expects this trend to continue with assets that produce durable cash flows coming online.

Overall, Akyol is bullish on MPLX, thanks to its diverse asset base and the Northwind acquisition. Interestingly, TipRanks’ AI Analyst has an “outperform” rating on MPLX with a price target of $55.
Akyol ranks No. 319 among more than 9,900 analysts tracked by TipRanks. His ratings have been profitable 66% of the time, delivering an average return of 10.6%. See MPLX Ownership Structure on TipRanks.

EOG Resources

Oil and gas exploration and production company EOG Resources (EOG) is the next dividend pick this week. The company paid $528 million in dividends and repurchased $600 million shares in the second quarter. EOG has declared a quarterly dividend of $1.02 per share, payable on Oct. 31. With an annualized dividend of $4.08 per share, EOG offers a dividend yield of 3.4%.
Recently, RBC Capital analyst Scott Hanold reiterated a buy rating on EOG stock with a price target of $140. TipRanks’ AI Analyst is also upbeat about EOG and has an “outperform” rating with a price target of $133.  
EOG is bolstering its position in the Utica shale with the acquisition of Encino Acquisition Partners. Hanold expects the company’s solid track record of improving operations to reflect in the Utica region over the upcoming quarters. “The Utica should garner a lot of investor attention moving forward, as we think it can become a foundational asset for EOG in fairly short order,” said the analyst.
Hanold also expects EOG’s first mover activity in the Gulf Nations (Bahrain and UAE), targeting unconventional activity to present longer-term value opportunities. Moreover, Hanold expects EOG’s growing natural gas exposure to exceed 3 Bcf/d (billion cubic feet per day), on a net basis, by the end of 2025, thanks to the company’s Dorado pure-gas focused development and the opportunity in the Utica.
The analyst added that the long-term secular outlook for natural gas remains robust and EOG is well-positioned to capitalize on that opportunity. Given that EOG was an early mover to secure premium gas commercial agreements, Hanold thinks its two gas plays could attract attention from hyperscalers due to their massive scale.
Finally, Hanold pointed out that EOG’s solid balance sheet, which remains best in class across the energy spectrum, enables management to generate high levels of shareholder returns, despite macro uncertainty. He stated that increasing the fixed dividend at a leading rate continues to be a “core tenet” and is supported by the company’s lower break-even level.
Hanold ranks No. 26 among more than 9,900 analysts tracked by TipRanks. His ratings have been successful 66% of the time, delivering an average return of 28.9%. See EOG Resources Statistics on TipRanks.

Home Depot

Finally, let’s look at home improvement retailer Home Depot (HD). While the company’s Q2 adjusted earnings and revenue fell short of Wall Street’s expectations, it maintained its full-year guidance. Home Depot said that momentum continued to improve in its core categories throughout the quarter. At a quarterly dividend of $2.30 (annualized per share dividend of $9.20), HD stock offers a yield of 2.2%.
Following the Q2 print, Truist analyst Scot Ciccarelli reiterated a buy rating on Home Depot stock and increased his price forecast to $454 from $433, citing improving underlying trends in the core business. In comparison, TipRanks’ AI Analyst has a price target of $458 with an “outperform” rating on HD stock.
Ciccarelli noted that Home Depot witnessed its broadest sales growth across categories and geographies in over two years. He added that the company delivered its third consecutive quarter of comparable sales growth in the U.S., with accelerating trends as weather normalized.
The analyst contended that while large (financed) project spending remains subdued, demand continues to rise, with big-ticket (over $1,000) transactions growth accelerating to 2.6% in Q2 FY25. Moreover, Home Depot is experiencing a double-digit increase in sales to professionals, who use their new trade credit and leverage the same/next-day delivery services.
Additionally, Ciccarelli noted that Home Depot is more insulated from tariff-led volatility than other companies in Truist’s coverage. The analyst attributed HD’s ability to sail through the ongoing tariff challenges without raising prices to its buying power and diversified sourcing model.
Ciccarelli ranks No. 11 among more than 9,900 analysts tracked by TipRanks. His ratings have been profitable 76% of the time, delivering an average return of 19.2%. See Home Depot Insider Trading Activity on TipRanks. More

Some 86% of retirement plans, such as 401(k)s, offered Roth contributions in 2024, but only 18% of investors with the option participated, according to a Vanguard report.
Roth contributions are after-tax, and your balance grows tax-free. These accounts also avoid required minimum distributions in retirement.
But you need to weigh your broader tax plan when deciding between Roth or pre-tax deferrals, experts say.

Marco Vdm | E+ | Getty Images

For many investors, workplace retirement plans build long-term savings via automatic paycheck deferrals. But most employees don’t make Roth contributions, which can grow tax-free. 
Some 86% of retirement plans, such as 401(k)s, offered Roth contributions in 2024, but only 18% of investors with the option participated, according to Vanguard’s 2025 analysis of more than 1,400 qualified plans and nearly 5 million participants.

That’s up slightly from 17% who made a Roth 401(k) contribution in 2023.
One reason for low adoption is that plans typically default to pre-tax contributions, meaning investors must switch to the Roth option, experts say.
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“I don’t know that people understand the benefits of the tax-free growth,” said certified financial planner Jordan Whitledge, lead advisor at Donaldson Capital Management in Evansville, Indiana. 
Younger or higher-income investors are more likely to make Roth contributions, according to the Vanguard report.

Here are some key things to know about Roth 401(k) contributions — and how to know if this option is right for you.

How Roth 401(k) contributions work

Most workplace retirement plans offer two choices for employee deferrals: pre-tax or after-tax Roth. (A smaller percentage of plans also offer after-tax contributions, which are different from Roth, and allow big savers to exceed the employee deferral limit.)  
For 2025, you can defer up to $23,500 into your 401(k), plus an extra $7,500 in “catch-up contributions” if you’re age 50 and older. That catch-up contribution jumps to $11,250 for investors aged 60 to 63.
While pre-tax contributions offer an upfront tax break, you’ll owe regular income taxes on withdrawals in retirement, depending on your tax bracket.
Pre-tax funds are subject to required minimum distributions, known as RMDs, or you may face an IRS penalty. The first deadline for RMDs is April 1 of the year after you turn 73, and Dec. 31 is the due date for future years.

By comparison, Roth contributions are after-tax, but your balance grows tax-free. For Roth accounts, the original account owner won’t face RMDs, but certain heirs are subject to the 10-year rule, meaning the account must be emptied within 10 years of the original owner’s death.
For some investors, especially for those with a large pre-tax balance, RMDs can be a pain point in retirement, Whitledge said.
This can also be an issue for heirs who may have to empty pre-tax accounts and boost their adjusted gross income during their peak earning years, experts say.

Pre-tax vs. Roth contributions

While tax-free growth may be appealing, you should consider your broader tax plan before picking Roth contributions, experts say.  “Many financial advisors recommend a mix if possible, but prioritizing based on your current tax bracket and expected future rates,” said CFP Mike Casey, president of American Executive Advisors in McLean, Virginia.
If you expect higher tax rates in retirement, “Roth options shine for locking in today’s rates,” he said.  More

Michael Siluk | Education Images | Universal Images Group | Getty Images

Company: Medtronic PLC (MDT)
Business: Medtronic PLC is an Ireland-based company, which provides health-care technology solutions. The company’s products category includes Advanced Surgical Technology; Cardiac Rhythm; Cardiovascular; Digestive & Gastrointestinal; Ear, Nose & Throat; General Surgery; Gynecological; Neurological; Oral & Maxillofacial; Patient Monitoring; Renal Care; Respiratory; Spinal & Orthopedic; Surgical Navigation & Imaging; Urological; Product Manuals; Product Ordering & Inquiries; and Product Performance & Advisories. Its products include Cardiac Implantable Electronic Device (CIED) Stabilization, Aortic Stent Graft Products, CareLink Personal Therapy Management Software, CareLink Pro Therapy Management Software. Its services and solutions include Ambulatory Surgery Center Resources, Care Management Services, Digital Connectivity Information Technology (IT) Support, Equipment Services and Support, Innovation Lab, Medtronic Healthcare Consulting, and Office-Based Sinus Surgery.
Stock Market Value: $118.78B ($92.71 per share)

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Medtronic shares in 2025

Activist: Elliott Investment Management

Ownership: n/a
Average Cost: n/a
Activist Commentary: Elliott is a very successful and astute activist investor. The firm’s team includes analysts from leading tech private equity firms, engineers, operating partners – former technology CEOs and COOs. When evaluating an investment, the firm also hires specialty and general management consultants, expert cost analysts and industry specialists. Elliott often watches companies for many years before investing and has an extensive stable of impressive board candidates. The firm has historically focused on strategic activism in the technology sector and has been very successful with that strategy. However, over the past several years its activism group has grown, and Elliott has been doing a lot more governance-oriented activism and creating value from a board level at a much larger breadth of companies.
What’s happening
On Aug. 19, Medtronic PLC announced the appointment of John Groetelaars (former interim CEO of Dentsply Sirona and former president and CEO of Hillrom) and Bill Jellison (former vice president, CFO of Stryker) to the board following engagement with Elliott. Further, the board announced the formation of the Growth Committee and the Operating Committee. Jellison will serve on both, while Groetelaars will join the Growth committee.
Behind the scenes
Medtronic is the largest medtech company in the world by revenue, with a history of medtech innovation and market leadership dating back to the 1940s. While its cardiology segment remains its legacy core business (37% of revenue), Medtronic is now a diversified operator, with its other segments including Neuroscience (29%), Medical Surgical (25% and largely built from their acquisition of Covidien, which closed in 2015) and Other (9%, primarily diabetes treatment). Despite this positioning as a one-stop shop for medical devices, Medtronic’s stock price has stagnated – appreciating just 15% over the past decade and down 8% in the last five years.

This stock performance underscores long-term investor frustration in Medtronic’s growth profile. Investors have been long waiting for a growth inflection due to the company’s attractive end markets and scale, but Medtronic has been delivering underwhelming mid-single digit revenue growth for the past 10 years. Many have speculated that Medtronic’s growth has disappointed due to its strategy of diversification. While Medtech peers like Boston Scientific and Intuitive Surgical are pursuing depth rather than diversification, executing tuck-in merger and acquisitions, and building scale in focused markets, Medtronic has sat on the sidelines since the Covidien acquisition, leaving it with a larger – but slower growing revenue base than peers.
However, for the first time in many years management is sending a message to the market that it not only acknowledges this issue, but it’s doing something about it. That message comes in the form of establishing a Growth Committee and adding as a member newly appointed director Bill Jellison (former vice president and CFO of Stryker). Notably, these actions were taken following engagement by Elliott. The Growth Committee is oriented towards portfolio management, including finding tuck-in M&A opportunities to supplement organic growth, allocating research and development more effectively, and reviewing its existing portfolio of businesses for inefficiencies to pursue future asset sales. Jellison will be a value-added director to that end. In addition, Elliott has shown that even without a board seat for an Elliott principal it can be a valuable active shareholder, particularly with evaluating and executing M&A opportunities.
Medtech has also seen margin challenges in recent years and management is also addressing that by forming an Operating Committee. This committee is focused on creating room in the P&L and gross margin expansion. As is the case with most MedTech businesses, Medtronic has been under a lot of bottom-line pressure since the Covid-19 pandemic. However, while peers have generally experienced 100 to 200 basis points of margin pressure, Medtronic’s gross margins (now around 65%) have eroded approximately 500 bps. This is another area where we have seen Elliott assist portfolio companies as an active shareholder.
While these two committees are new, they will be able to start with a little momentum. Medtronic announced in May that it will be spinning off its diabetes business within the next 15 months, which should help the company focus on its core businesses. There are also two product developments that could meaningfully contribute to long-term growth: (i) PulseSelect, a pulse field ablation system used to treat atrial fibrillation, launched in the U.S. in 2024 and has grown rapidly over the course of this year; and (ii) Symplicity Spyral, a renal denervation product used for the treatment of hypertension, recently received a favorable reimbursement decision from the Centers for Medicare & Medicaid Services that’s being finalized in October, which should significantly increase access and adoption of the product. While these product developments are certainly reasons to be optimistic, more important to shareholders like Elliott is a professional and sophisticated process, and with these operational and governance changes, shareholders should be confident that the company finally has a process that can deliver long-term growth. To paraphrase from the book “Built to Last: Successful Habits of Visionary Companies,” it is the difference between being a time teller and a clock builder. The most successful and enduring companies have been clock builders.
Elliott is one of today’s most prolific activist investors, and it has already successfully completed the activist phase of this engagement. Now is the time for phase two: a turnaround of the business. Elliott has helped add two directors to the board who are purpose-built for this situation. Both Jellison and Groetelaars have extensive medtech experience, with Jellison having served on the boards of two other medtech companies as the result of activist engagement – Masimo for Politan Capital and Anika Therapeutics for Caligan Partners. What makes this engagement unique is that Elliott did not enter into any formal agreement with Medtronic, signaling that management did not see it as necessary and that Elliott is supportive of its efforts. While presently the stage is set for a long-term mutually beneficial relationship between the two parties, Elliott has put itself in position to have unique flexibility should things not go as planned, but we do not expect that they will have to rely on that contingency.
Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist 13D investments. More

Surveyed Americans said retirement age “should” be 58, on average, according to a recent report by Empower.
As of 2024, on average, men retire at age 64 while women retire at age 62, according to the Center for Retirement Research at Boston College.

Alistair Berg | Digitalvision | Getty Images

While you may hope to step out of the workforce sooner rather than later, it’s easier said than done, experts say. 
On average, surveyed Americans, asked “What age should you be” for retirement, said 58, according to a recent report by Empower, which polled 1,001 adults on June 2.

That’s much younger than the current typical retirement age. On average, as of 2024, men retire at age 64 while women retire at age 62, according to the Center for Retirement Research at Boston College.
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Even at those average ages, workers may not have planned to retire. Many Americans, 58%, end up retiring earlier than they expected, according to a 2024 report by Transamerica Center for Retirement Studies in collaboration with Transamerica Institute.
Of those who retired early, 46% pointed to health-related reasons, 43% cited employment issues and 20% family reasons. Just 21% said they retired early because they are financially stable.

What you risk with an early retirement

For those targeting retirement at age 58, they may be “looking at 30 to 40 years of not working,” as people are living longer, said Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida.

If you decide to retire earlier, make sure you have enough saved to tide you over for that length of time, especially in case of economic downturns such as recessions, said McClanahan, a member of CNBC’s Financial Advisor Council.
“You may end up coming up short [or] not having enough money if you quit work too early,” McClanahan said.
What’s more, you need to consider health care, as Medicare typically kicks in at age 65 — if you stop working at age 58, you’ll need to come up with health care coverage for those gap years.

Starting your retirement savings early and aggressively is key to making this goal happen. It’s also crucial to know how much money you need to live on during retirement and how much you’d need to save to get there.
The “magic number” that surveyed Americans said they need to retire comfortably is an average $1.26 million, according to an April report by Northwestern Mutual.
While that figure is lower than the prior year’s average of $1.46 million, many of those surveyed said they feel unprepared for retirement. More than half, or 51%, said they think it’s somewhat or very likely they will outlive their retirement savings, according to the report.

Some retirees end up going back to work

Citing data from the Federal Reserve, a separate report by wealth management firm T. Rowe Price said 2.4 million Americans retired during the Covid pandemic. About 1.5 million of those retirees had gone back to work by March 2022.
More than half, or 52%, of workers said they plan to work at least part-time in retirement, according to a March report by the Transamerica Center for Retirement Studies. About 80% of respondents who plan to work in retirement or past age 65 said it was due to financial reasons.

Some adults simply “have a lot of trouble retiring,” said Gloria Garcia Cisneros, a certified financial planner at LourdMurray, an investment and wealth management firm.
Garcia Cisneros said she has clients that have the option to retire but still work a few hours a week at jobs that don’t require a lot of them, are not hard on their body and are “not for the money.”
“We don’t just turn off and then live half of our life just doing nothing,” said Garcia Cisneros. 
Overall, working for slightly longer can be beneficial; by delaying the year you start collecting Social Security benefits, you reduce the risk of outliving your savings. 
For example, say there’s a 62-year-old who earns $100,000 per year, already has $900,000 saved for retirement and expects to spend roughly $65,000 per year in retirement, according to the T. Rowe Price report. 
If that person retires at age 62, there’s a 64% chance they will not outlive their funds in retirement, researchers wrote. But if they retire at age 65 instead, there’s a 92% chance they won’t outlive their savings.  More

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Ether surged 15% late Friday, rising as high as $4,885.00 and surpassing its November 2021 record of $4,866.01.
The moves came during Powell’s annual address from Jackson Hole, Wyoming, in which he indicated conditions “may warrant” interest rate cuts.
Ether has more than doubled over the past two months, outperforming bitcoin over the period.

Omar Marques | Lightrocket | Getty Images

The price of ether smashed through its 2021 record on Friday after Federal Reserve Chair Jerome Powell hinted at upcoming rate cuts and investors returned to risk-on mode.
The second-largest cryptocurrency surged 15% late Friday, rising as high as $4,885.00 and surpassing its November 2021 record of $4,866.01.

Bitcoin rose 4% to $117,008.29.

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Ether (ETH) bounces after Powell’s Jackson Hole speech

The moves came during Powell’s annual address from Jackson Hole, Wyoming. “With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” said Powell.
“Traders seem to have been caught completely off-sides by Powell’s dovish comments today,” said Jordi Alexander, CEO at crypto trading firm Selini Capital. “The market positioning in recent sessions has seen clear risk-off moves in assets like crypto and tech, and today’s setting up of a September rate cut is causing a panicked repositioning, which could continue through the illiquid weekend as shorts get squeezed.”
“Momentum is back on the menu with the administration and the Fed seemingly aligned on easing,” he added.
Around the time of the speech, ETH saw about $120 million in short liquidations in a one-hour period, according to CoinGlass. When traders use leverage to short ether and the coin’s price rises, they buy ETH back from the market to close their positions. In turn, this pushes the coin’s price even higher and results in more positions being liquidated.

Shares of companies focused on accumulating ether, which were some of the hardest hit this week when investors rotated out of tech names, bounced with the coin Friday. Bitmine Immersion and SharpLink Gaming jumped 12% and 15%, respectively. Bitmine fell more than 7% on the week, its first down week in three.
Shares of Peter Thiel-backed ETHzilla tumbled more than 31% at one point Friday after the ether treasury company offered up to 74.8 million of its shares for resale. It ended the session off 31.4% following Powell’s Jackson Hole remarks.
Elsewhere, Solana-focused treasury firm DeFi Development surged 21%, and crypto exchange Coinbase and bitcoin proxy Strategy advanced 6% each.
In the past two months, ether has emerged as a leader in the crypto market. That shift was catalyzed by regulatory tailwinds that prompted a boom in institutional interest around stablecoins, which account for 40% of all blockchain fees and more than half of which are powered by the Ethereum blockchain.
Ether is “the biggest macro trade over the next 10 to 15 years and a lot of it has to do with the fact that stablecoins have become the Chat GPT moment for crypto,” Fundstrat’s Tom Lee recently told CNBC’s “Worldwide Exchange.” “And now we have the GENIUS Act and Project Crypto from the SEC, which is essentially Wall Street running onto the blockchain.”
—CNBC’s Nick Wells contributed reporting

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Student loan borrowers in default could soon see the U.S. Department of Education take a portion of their paychecks.
But borrowers still have time to get current on their loans and avoid the collection activity, experts say.

A student studies in the Perry-Castaneda Library at the University of Texas at Austin on February 22, 2024 in Austin, Texas. 
Brandon Bell | Getty Images

When the Trump administration first announced in April that it would soon resume student loan collection efforts, it said notices for wage garnishment would resume “later this summer.” It’s still a time frame the Education Department has cited in comments, as recently as earlier this month.
But with Labor Day coming up, it has yet to reveal a specific date.

The department did not respond to a request for comment on the timeline of wage garnishments.
“Getting these programs set back up takes time,” said Scott Buchanan, executive director of the Student Loan Servicing Alliance, a trade group for federal student loan servicers. “I would expect at least a month or more” before garnishment begins, he said.
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Collection activity on federal student loans has been mostly paused for around five years, since the start of the Covid pandemic in 2020. It’s a significant change for borrowers to have their paychecks at risk again, consumer advocates say.
As of a May announcement, more than 5.3 million student loan borrowers are in default.

“I would strongly advise borrowers to not wait to take action until wage garnishment begins,” Buchanan said.
Here’s what to know about protecting your wages if you’re behind on your student loans.

Federal government can take up to 15%

The U.S. Department of Education can garnish up to 15% of your disposable, or after-tax, pay, said higher education expert Mark Kantrowitz.
By law, you must be left with at least 30 times the federal minimum hourly wage ($7.25) a week, which is $217.50, Kantrowitz said.
It is more difficult for the federal government to garnish the wages of someone who receives 1099 income, Kantrowitz said.
“If there is no employer, wage garnishment can’t happen,” he said.

You can challenge the garnishment

Borrowers in default should receive a 30-day notice before their wages are garnished, experts said.
During that period, you should have the option to have a hearing before an administrative law judge, Kantrowitz said. The Education Department notice is supposed to include information on how you request that, he said.
Your wages may be protected if you’ve recently been unemployed or filed for bankruptcy, Kantrowitz said.
Borrowers can also challenge the wage garnishment if it will result in financial hardship, he added.

Your employer can’t terminate you

Most employers will already be familiar with the wage garnishment process, Kantrowitz said. In addition to student loans, companies can also be asked to withhold a portion of their employees’ wages for child support, alimony and unpaid taxes.
Your boss is not allowed to terminate you because of the wage garnishment, Kantrowitz said.

Now is the time to get out of default

You can contact the government’s Default Resolution Group and pursue a number of different avenues to get current on your loans, including enrolling in an income-driven repayment plan or signing up for loan rehabilitation. 
“Once garnishment begins there will be a flood of calls, and processing times for rehabilitations could be much longer depending on volume,” Buchanan said. “Use the next month or so to call the Default Resolution Group and discuss your options to avert garnishment.”

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