The Federal Reserve finished the year with yet another interest rate hike. If inflation slows as expected, analysts still expect further increases of at least 75 basis points. You know how rising rates hurt your retirement savings, but there are ways you can take advantage of them. Benefiting from an environment of high interest rates
Retirement
Here are the critical questions about retirement plans you need to review as the close of this year approaches. Are beneficiary designations correct? There can be dreadful consequences to not designating beneficiaries or having outdated beneficiary designations. The account is likely to go to the wrong person or people, or it might go to the
So many Americans run into unexpected health care situations, natural disasters, or other unforeseeable tragedies that also become financial tragedies. We’ve seen research showing that nearly half of Americans would struggle to cover an unexpected $400 expense and that 56 percent of Americans could not cover an $1,000 expense with savings. These numbers and surveys
Key Takeways The $1.7 trillion government spending bill has passed, which means they’ll be able to keep the lights on until at least September next year. With over 4,000 pages worth of legislation, it’s not the type of thing that can be summarized easily. With that said, we’ve pulled out some of the key areas
Back when the SECURE Act passed in 2019, I wrote an article for Forbes called the “Why The SECURE Act Makes 2020 The Year of Missed RMDs.” The reality then was that the two biggest and most impactful provisions of the SECURE Act 1.0 were around required minimum distributions (RMDs) from retirement accounts. With the
Key takeaways Lucid Group has raised an additional $1.5 billion to support ongoing operations, with $915 million being contributed by the Saudi Arabia Public Investment Fund. It keeps the Fund’s stake in Lucid at around 62%, continuing their status as a majority owner of the company. Despite almost $1 billion in additional investment, it’s a
Key Takeaways Disney stock has plummeted almost 45% so far this year, which is looking set to be the worst performance since 1974. The latest fall has come after the opening weekend of Avatar: The Way Of Water fell short of huge opening weekend expectations. Disney is under pressure from many fronts, with its streaming
Key Takeaways There are reports that the SAFE Banking Act will be excluded from a must-pass bill, marking the third time it’s failed to get through the Senate. The Act would give cannabis companies access to banking services, which is currently a challenge to the legal status of cannabis at a Federal level. Some are
Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. The Secure Act 2.0 is expected to become law later this week. Some of the measures in the bill include increasing the required minimum distribution age, raising catch-up contribution limits, permitting some
The spending bill congressional leaders agreed to early this morning creates significant new incentives for retirement savings and broadly eases rules for withdrawing funds. Like earlier versions, the measure would both help low- and moderate-income workers save for retirement and create yet another tax windfall for high-income savers. The measure, called SECURE 2.0, adopts elements