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Business Insider
41 minutes ago
- Business Insider
Photos show the US Army's 250th anniversary parade held on Trump's birthday
The US Army held a parade in Washington, DC, for its 250th anniversary on Saturday. The display featured 150 vehicles, 50 aircraft, and about 6,600 troops. President Donald Trump, who turned 79 on Saturday, was in attendance with Melania Trump. President Donald Trump has long expressed interest in holding a military parade. He finally got one for his birthday. The US Army celebrated its 250th anniversary on Saturday in Washington, DC, with a parade featuring 6,600 troops, 150 vehicles, and over 50 aircraft. June 14 also marked Trump's 79th birthday. Trump attended the event accompanied by first lady Melania Trump and other family members. The president stood to salute troops as they passed his viewing box. In May, a US Army spokesperson told CNBC that the event could cost between $25 million and $45 million in total. Prior to the parade, the National Mall was lined with displays of tanks, planes, cannons, and other weaponry to educate onlookers about the US Army's history and modern capabilities. The US Army also held a fitness competition where service members competed against one another in various drills. Anti-Trump "No Kings" counterprotests, organized by the grassroots group 50501, were held nationwide ahead of the parade. Protest signs across the country condemned Trump's policies and expressed support for progressive causes. President Donald Trump attended the parade with first lady Melania Trump. Vice President JD Vance and second lady Usha Vance were also present. The Trump family members in attendance included Donald Trump Jr. and girlfriend Bettina Anderson, Eric and Lara Trump, and Tiffany Trump's husband, Michael Boulos. The parade featured service members dressed in historic uniforms dating back to the Revolutionary War, honoring the origins of the US Army. Historic tanks such as the Sherman tank used in World War II rolled through the streets. The Golden Knights, the US Army's parachute demonstration and competition team, leapt from planes and landed in front of the White House during the parade. Lines of uniformed service members stretched all the way down Constitution Avenue.
Miami Herald
10 hours ago
- Miami Herald
Suze Orman warns Americans on sudden Social Security problem
American workers recognize that Social Security will be an important source of financial assistance for their everyday expenses during retirement. Bestselling author and former CNBC personal finance editor Suze Orman often highlights the necessity of grasping key aspects of retirement planning to build a stable future. She now issues a significant warning to Americans about Social Security, citing a recent development that poses a serious risk to many retirees' monthly income. Don't miss the move: Subscribe to TheStreet's free daily newsletter Orman has always stressed the importance of timing when it comes to Social Security benefits. Although American workers have the option to start collecting at age 62, she explains that those who do so then end up significantly reducing their monthly payments. To receive their full benefits, individuals must wait until their designated retirement age, which is 67 for those born in 1960 or later. Related: Jean Chatzky sends strong message to Americans on Social Security Orman strongly encourages delaying benefits even further, up to age 70, for those who can afford to do so. She argues that waiting allows payments to grow, ensuring a more substantial financial cushion during retirement. She cautions that claiming benefits too early is a costly mistake, as it prevents individuals from maximizing their monthly income. But now, Orman has a new warning on Social Security - and this one involves a change in government policy regarding repayment of student loans. Getty During the past five years, the federal government has refrained from pursuing repayment from individuals who have defaulted on federal student loans (including reduced Social Security checks). However, that policy shifted in early May when officials announced the reinstatement of various methods to recover outstanding college debt through the Treasury Offset Program. "American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies," said U.S. Secretary of Education Linda McMahon in an April 12 Department of Education statement. Starting in May, the government began intercepting federal tax refunds from borrowers in default, applying those funds toward their unpaid loan balances. More on retirement: Jean Chatzky shares major statement about Social SecurityShark Tank's Kevin O'Leary has blunt words on 401(k) plansDave Ramsey strongly cautions U.S. workers on Social Security "Beginning in June, Social Security benefits can be seized to offset college debt in default," wrote Orman in an email newsletter, also noting that this may be something parents who borrowed under the federal PLUS loan program ought to be concerned about. "Later this summer, the government has announced it plans to send out notices that it will also garnish wages," Orman added. "Up to 15% of after-tax income can be seized to pay down defaulted student loans." Orman explains that approximately five million borrowers are already in default, meaning they are directly affected by the government's decision to resume collection efforts. She also highlights the fact that another four million borrowers are struggling to keep up with payments and are approaching the 270-day mark of non-payment - the point at which their loans officially transition from delinquent to default. Orman stresses the urgency of the situation, warning that those on the brink of default could soon face serious financial consequences if they don't take action. Related: Tony Robbins sends strong message to Americans on 401(k)s, IRAs In order to avoid reduced Social Security benefits, Orman advises borrowers to first verify their payment status to stay informed about their federal student loans. She explains that every borrower has a Federal Student Aid ID number, which they can use to access their account on the Federal Student Aid website. Through this dashboard, they can review their payment history, check for any outstanding balances, and identify their loan servicer - the company responsible for handling their loan repayments on behalf of the government. Orman emphasizes the importance of keeping their contact information updated with the loan servicer. "I hope everyone with student debt will stand in their truth and look into their status and make it a priority to restart payments with a loan repayment plan," Orman wrote. "Ignoring that this is happening or thinking you can hide from the government debt collectors will only make things worse." Related: Scott Galloway bluntly predicts major change for Netflix The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
a day ago
- Yahoo
Data Shows Rich American Families Buying US Stocks To 'Highest Level In Years' Despite Volatility For 'Preserving Wealth Across Generations'
Successful investors often stand out by maintaining a long-term outlook despite market turbulence. Recent data shows wealthy American families are doing just that. Global family office data for early 2025 released by UBS last month indicates that wealthy American families were increasing their exposure to stocks despite recession worries and global trade tensions. About 32% of their portfolios were allocated to equities as of April 4, compared with 28% last year. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – The report is based on a survey covering 317 single-family offices worldwide, each managing an average of $1.1 billion. CNBC Wealth Editor Robert Frank said that the survey data shows that US family offices are increasing their allocation to stocks to the "highest level" in years. "At the same time, they are trimming their private equity holdings, going to 35% from 27%," Frank said. "This marks a sweeping reversal for family offices, which of course, had been moving to private markets away from public markets before this." Trending: Maximize saving for your retirement and cut down on taxes: . When asked why private equity is lagging in investment portfolios, Frank said that the lack of IPOs and merger & acquisition activity is impacting the performance of private equity. He also believes investors are preferring public markets to gain exposure to artificial intelligence. "The number one investment theme for family offices right now is AI. So to play AI, you really have to do it through the public market," according to Frank. "So private equity is less attractive and public markets are more attractive because that's where they can get into the AI trade." The UBS report also shows that American family offices strongly favored domestic equities, with US stocks making up 86% of their portfolios, while Western Europe and Asia Pacific accounted for about 7% and 3%, Mathews, head of UBS Private Wealth Management, told CNBC that investors preferred US stocks partly due to the American market's better performance relative to the rest of the world. "But I think really it's the family offices are just—they're staying close to what they understand, what they know," Mathews added. Over 70% of family offices viewed a trade war as the biggest risk to their financial goals over the next 12 months, followed by major geopolitical conflict and inflation, the UBS survey showed. Despite these concerns, most family offices were planning to maintain the same level of portfolio risk in 2025 as they did in 2024. "Our latest report serves as a good reminder that family offices around the world are first and foremost pursuing a steady, long-term approach, as they focus on preserving wealth across the next generations," the report said. Read Next:'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Data Shows Rich American Families Buying US Stocks To 'Highest Level In Years' Despite Volatility For 'Preserving Wealth Across Generations' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
