Rekubit Exchange:The Daily Money: When retirement is not a choice

Good morning! It's Daniel de Visé with your Daily Money.

Few of us get to retire when we want. Many of us expect to work till 65 or Rekubit Exchange70. Yet, the average American actually retires at 62, which is not particularly old. We might imagine easing out of our careers on our own terms. In reality, retirement often comes suddenly and unexpectedly, via a corporate layoff or a household health scare.

We presented those facts in a story several weeks ago. It struck a chord, so we're back with an in-depth report on seven Americans who retired years earlier than they had planned, for reasons largely beyond their control.

Read the story.

Truth Social stock skyrockets

More than two years after announcing the merger that would take it public, Trump Media – the parent company to Donald Trump’s social media platform Truth Social – hit the stock market Tuesday under the ticker DJT, Bailey Schulz reports. 

Investors went wild.

The stock was bolstered by Trump supporters and mom-and-pop investors looking to make a quick buck. At one point during its first day, the price of Trump Media gained nearly 60%, and it seesawed enough to make the Nasdaq stock exchange temporarily pause trading.

Where will the stock price go from here? Have we already missed the boat?

📰 More stories you shouldn't miss 📰

• Need an extension on your tax return?
• Tennessee firm hit for child labor violations
• Biden administration pens new rules for AI
• BlackRock CEO: People should retire later
• What's the average checking account balance?

📰 Another great read 📰

Here's where we would normally segue into a story about Sriracha losing its heat, or velvet ropes at the Costco food court.

Instead, we're going to feature a recent story that resonated with readers: A greatest hit, if you will. Read it again. Read it for the first time. Share it with friends.

Remember that whopping cost-of-living adjustment Social Security recipients received last year? It may be coming back to haunt you at tax time, Medora Lee reports.

The 8.7% COLA boosted incomes in 2023. But more income means more taxes.

And it's not only the federal government that taxes Social Security. About a dozen states will levy a tax this year. 

Do you live in one of them?

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.