Two executive orders signed on June 22 may have quietly set in motion the biggest shift in American money in decades. |
Most Americans never heard about them. |
But one $20 U.S. company now sits at the center of the story—and the government has already moved to take an ownership stake. |
Former Wall Street banker Dylan Jovine spent eight months investigating what these orders could mean and why he believes investors should be paying attention now. |
👉 See the company and ticker here. |
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📋 BONUS: A $111,000 Answer to Your Required Withdrawal 🌙A required withdrawal, a charitable option that erases it, and the fine print worth reading once a year.
Tonight's Numbers
73 — the age most retirees must now start required withdrawals, up from 72 under prior law.
$111,000 — the 2026 limit on qualified charitable distributions that count toward an RMD tax-free.
4.70% — where the 10-year Treasury closed today, the benchmark income portfolios measure against.
$111,000. That's the amount someone age 70½ or older can send directly from an IRA to a qualified charity this year and have it count toward a required minimum distribution, without adding a single dollar to taxable income. It's one of the more useful, and more overlooked, tools sitting in the retirement rulebook, and Thursday's lens is a good excuse to walk through why it matters, especially with markets digesting a fifth straight Fed hold and two mega-cap earnings reports overnight. The RMD rules themselves shifted meaningfully over the past few years. Retirees now must begin required withdrawals at age 73, not 72, under the SECURE 2.0 Act, and that age moves again to 75 for anyone born in 1960 or later once 2033 arrives. Anyone turning 73 this year has until April 1 of next year to take that first withdrawal, though waiting that long usually means two taxable distributions land in the same calendar year. Missing the deadline outright brings an IRS penalty of up to 25% of the amount that should have come out. It's not a reason to panic, but it's worth understanding exactly when that first deadline lands. The qualified charitable distribution sidesteps a chunk of that math for retirees who give to charity anyway. Because the money never touches adjusted gross income, it can also help keep Medicare premiums and the taxation of Social Security benefits from creeping higher, both tied to income thresholds most retirees never see explained plainly. Rules like this have a long history of getting rewritten quietly. The 1983 Social Security Amendments, signed under a commission Alan Greenspan chaired, raised the full retirement age gradually from 65 to 67 and taxed benefits for higher earners for the first time. Unpopular in the moment, it kept the trust fund paying full benefits for more than 40 years. Retirement rules change. Reading them each year is still worth the ten minutes.
Income Watch Declared: No new dividend declarations broke overnight. The standout from earlier this week still stands: Procter & Gamble's 70th consecutive annual increase, announced in April, the longest active streak among the Dividend Kings. Ex-dates ahead: AGNC Investment Corp and Alliant Energy both go ex-dividend Friday, July 31, the nearest scheduled dates on the income calendar. Yield check: The 10-year Treasury closed at 4.70% today. SCHD, a widely held income ETF, most recently published a trailing yield of 3.31%, in a reading that can lag the market by a few weeks. |
Tomorrow's CalendarEmployment Cost Index (Q2), 8:30 AM ET — The Fed's preferred wage-inflation gauge, watched closely after this week's rate hold.
Chicago PMI (July), 9:45 AM ET — A regional read on manufacturing activity ahead of next week's national ISM report.
University of Michigan Consumer Sentiment, final reading, 10:00 AM ET — Updated inflation expectations from the same survey Fed officials track.
AGNC Investment and Alliant Energy go ex-dividend — A reminder to check settlement dates before assuming a yield is locked in.
Our SMS desk will flag it tonight if Apple or Amazon's numbers move enough to matter before markets open tomorrow. Free, two to three texts a week, opt out anytime. Is a required withdrawal coming due for you or a parent this year? Write in, I read every reply. — Randy Cole, Editor
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