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The reason withdrawals from a Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is that policymakers wanted to create a disincentive to use these savings for anything other than retirement.

Grantor retained annuity trusts (GRATs) gained popularity in 2000 after a favorable ruling by the U.S. Tax Court toward a wealthy family in the retail business.

Stocks finished the last week of June and Q2 mixed as investors digested a fresh round of economic data.

In February 2018, Jerome Powell was appointed as Chair of the Board of Governors of the Federal Reserve System. He became the 16th chair to take over the helm of the world’s most influential central bank.

A money market fund, not to be confused with a money market account, is a type of mutual fund that invests in instruments like cash equivalents and short-term debt-based securities, which can also include U.S. Treasury Bonds.