The Hands Off Our Social Security Act, introduced in July by Reps. Melanie Stansbury and John Larson, would require congressional approval before the Social Security Administration (SSA) can make changes to benefits or services. The bill aims to protect SSA operations by blocking unauthorized data use, privatization efforts, workforce reductions, and office closures. 

Supporters, including Social Security Works and the National Committee to Preserve Social Security and Medicare, say the bill is a response to Trump-era staffing cuts and service barriers. 

Critics point to Treasury Secretary Scott Bessent’s recent comments about "Trump accounts" as evidence of ongoing privatization attempts, though he later claimed they would supplement—not replace—guaranteed benefits. Policy strategist Greg Valliere says such proposals have little legislative chance but reflect real pressure on both parties to address looming Social Security insolvency. 

Finsum: Keeping your clients abreast of the latest news in retirement, is a good way to build a trusting relationship. 

Annuities, once sidelined as overly complex or narrowly useful, are now experiencing a surge in demand as investors prioritize stability, protection, and predictable income in a volatile economic landscape. This shift is driven by pre-retirees and retirees rethinking traditional equity-focused strategies and seeking solutions that mitigate risks like sequence-of-returns. 

Fixed and fixed indexed annuities, in particular, offer competitive yields, downside protection, and guaranteed income, features especially appealing to mass-affluent households with limited pension coverage. 

The Great Wealth Transfer is also fueling interest, as boomers explore annuities not just for income but for legacy planning as well. Meanwhile, advances in digital tools and platforms have made annuities more transparent, accessible, and easier to incorporate into holistic financial plans. 

Finsum: Even as interest rates fluctuate, annuities are expected to remain a core solution for those seeking long-term financial confidence over short-term market gains.

Starting your own registered investment advisory (RIA) firm can be a rewarding move, especially amid a booming millennial client base and the $124 trillion wealth transfer underway. Advisors should begin by clarifying their personal and professional goals, then build a strong support team, including legal, compliance, tax, and marketing professionals, to ensure a smooth transition. 

It’s also essential to prioritize time wisely, balancing firm operations with client service and determining whether to outsource areas like investment management. Crafting an efficient tech stack is another foundational step, with core platforms for custody, CRM, portfolio management, and financial planning needed to streamline operations. 

Transitioning clients to the new firm must be handled carefully, ideally with legal guidance and a clear plan for targeting the ideal clientele. 

Finsum: With strategic planning and the right infrastructure, advisors can build scalable, client-centric RIAs ready to serve a changing generation of investors.

The July jobs report showed nonfarm payrolls rising by just 73,000, with major downward revisions to previous months, signaling that the U.S. economy may be slowing more sharply than expected. This has fueled recession concerns, especially as three-month average job gains dropped to just 35,000 and consumer spending, the key driver of GDP, remains tepid. 

Economists point to Trump-era tariffs and weakening labor market data as contributing factors, with some suggesting we may be on the brink of a recession, though GDP still rose 3% in Q2 due to import timing. 

Market reactions were swift: the Fed is now widely expected to cut rates in September, while stocks wavered amid political backlash and uncertain economic signals. Despite the White House expressing confidence, housing and manufacturing data continue to falter, and experts warn of potential consumer pullback. 

Finsum: While some remain optimistic about a soft landing, the outlook is increasingly clouded by high inflation, policy risk, and weakening employment trends.

KKR and Capital Group have announced plans to launch a hybrid investment fund, Capital Group KKR U.S. Equity+, giving investors access to both private and public equities. Slated for early 2026 pending regulatory approval, the interval fund will allocate 60% to publicly traded stocks and the remainder to private companies, with low investment minimums to increase accessibility. 

As private firms remain off public markets longer, the new fund aims to meet rising demand for diversified exposure and the potential outsized returns from private markets. Interval funds like this offer limited liquidity, allowing redemptions only during set periods, balancing investor access with long-term investing goals. 

The partnership builds on an earlier collaboration between KKR and Capital Group, which launched blended credit funds in April that have already attracted $100 million in assets. 

Finsum: With this new venture, investors can their stake in the growing trend of democratizing alternative investments for a broader investor base.