In recent years, a wave of retiring baby boomers and high interest rates have helped fuel record-breaking sales in the annuity market. From 2022 to 2024, annuity sales topped $1.1 trillion, according to Limra, a global research organization for the insurance industry. In 2023 alone, annuity sales increased 23 percent…

Key takeaways Tariffs are a tax imposed on goods that the U.S. imports from other nations. President-elect Donald Trump has shown a penchant for tariffs in his economic policy agenda. In his first term, he imposed duties on $380 billion worth of products from major U.S. trade…

President-elect Trump on Tuesday announced plans to create a new “External Revenue Service” that would be tasked with collecting revenue from tariffs, but economists are pushing back and noting that U.S. importers bear the brunt of the cost of tariffs rather than firms overseas. “For far too long, we have…