Retirement planning
Your last chance to secure 9.62% annual interest for Series I bonds is Oct. 28
Insta_photos | Istock | Getty Images If you’re eager to secure 9.62% annual interest for Series I bonds for six months, the deadline is quickly approaching. You must purchase I bonds and receive your confirmation email by Oct. 28 to lock in the record 9.62% rate, according to TreasuryDirect. The rate is expected to drop […]
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There’s still time for big savers to use ‘after-tax contributions’ to funnel more into 401(k) plans for 2022
If you’ve already maxed out 401(k) plan contributions for 2022 and you’re eager to save more for retirement, some plans have an under-the-radar option, experts say. For 2022, you can defer $20,500 into a 401(k), plus an extra $6,500 for investors 50 and older. But the total plan limit is $61,000 per worker, including matches, […]
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JPMorgan Chase uses Advancing Black Wealth Tour to boost financial literacy, address racial wealth gap
JPMorgan Chase brought its Advancing Black Wealth Tour to Philadelphia on October 8, 2022. Photo: Steven CW Taylor & Salim Weldon of Steven Taylor Photography A new endeavor from JPMorgan Chase is trying to help close the racial wealth gap. The bank’s Advancing Black Wealth Tour, launched this spring, aims to give attendees the tools […]
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How to get the ‘best of both worlds’ for Series I bond interest rates before November
RyanJLane | E+ | Getty Images After a difficult year for the stock market, investors have poured money into Series I bonds, a nearly risk-free and inflation-protected asset that’s paying a record 9.62% annual interest through October. With the rate expected to drop to roughly 6.48% in November, there’s a brief window to secure higher […]
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Series I bond interest expected to fall to roughly 6.48% in November. But that’s still a ‘really good rate,’ experts say
Morsa Images | E+ | Getty Images Fixed rate for I bonds will ‘most likely be zero’ I bond rates have two parts, a fixed rate, which remains the same after purchase, and a variable rate, which changes every six months based on inflation. The variable part is the percentage change in inflation over the […]
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Social Safety price tag-of-dwelling adjustment will be 8.7% in 2023, best increase in 40 many years
Azmanjaka | E+ | Getty Illustrations or photos Amid document large inflation, Social Stability beneficiaries will get an 8.7% boost to their benefits in 2023, the optimum maximize in 40 many years. The Social Security Administration declared the alter on Thursday. It will result in a profit raise of more than $140 extra for every […]
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Young, wealthy investors are flocking to alternative investments, study shows. What to know before adding to your portfolio
More advisors are using alternative investments Alternative investments typically fall into four categories: hedge funds, private equity, “real assets” like real estate or commodities and pre-packaged investments known as “structured products.” Amid double-digit losses in the stock and bond markets this year, there’s been an uptick in advisors turning to alternative investments, as planners seek […]
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These are common (and costly) Roth IRA conversion mistakes. Here’s how to avoid them
Ridofranz | Istock | Getty Images Roth individual retirement account conversions may be alluring when the stock market dips. But it’s easy to make mistakes, financial experts say. The strategy, which transfers pre-tax IRA funds to a Roth IRA for future tax-free growth, may pay off when the market drops because you can buy more […]
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IRS delays guidelines, waiving penalties for some inherited retirement accounts until 2023
Zinkevych | iStock | Getty Images If you inherited a retirement account in 2020 or 2021, the IRS is waiving penalties for some heirs who needed to start taking required minimum distributions right away, according to a notice issued Friday. The new rule won’t apply until 2023. Typically, there’s a 50% penalty when you skip […]
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Here’s how to pay 0% capital gains taxes with a six-figure income
Luminola | E+ | Getty Images It’s natural to fixate on portfolio losses, especially with the S&P 500 down more than 20% for the year. But you may still have gains after years of growth, and the profits could qualify for a 0% tax rate, depending on your earnings. The thresholds may be higher than […]
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