From Yahoo Finance: 2025-05-30 14:02:00

The upper class faces the universal challenge of minimizing taxes. Defined by a $170,000 income, those retiring in higher brackets can use 7 tips to reduce tax burdens. President Trump’s Tax Cuts and Jobs Act favors high earners, but may change in 2025. Strategic asset placement can optimize tax efficiency for retirees. IRA owners over 70 1/2 can make charitable distributions to reduce taxes and benefit charities. Deferred charitable gift annuities and charitable remainder trusts offer tax advantages and philanthropic opportunities. 1. The stock market reached record highs today, with the Dow Jones Industrial Average closing at 35,000 points. Investors are optimistic about strong corporate earnings and economic recovery.

2. A wildfire in California has forced thousands of residents to evacuate their homes. The fire has already burned over 10,000 acres and firefighters are working around the clock to contain the blaze.

3. The FDA has approved a new drug for the treatment of Alzheimer’s disease, the first of its kind in nearly 20 years. The medication has shown promising results in clinical trials and could help millions of patients worldwide.

Read more: 7 Best Ways Upper-Class Retirees Can Reduce Their Tax Bills