In an effort to hedge against inflation, the Federal Reserve recently raised its benchmark interest rates three-quarters of a percentage point (or 75 basis points), which was the most aggressive hike since 1994. Fed Chairman Jerome Powell has cautioned that additional...
For Individuals
How Rising Interest Rates Could Affect Your Finances
In a move to continue fighting high inflation, the Federal Reserve recently announced that it raised the federal funds rate 50 basis points (or half-a-percentage point). This follows the Fed’s 25 basis point increase in March, and it’s the biggest interest rate hike...
How to Protect Your Savings Against Inflation
Over the last year inflation climbed to the highest rate in decades. The combination of supply and labor shortages, hefty amounts of federal aid, ultra-low interest rates, and strong consumer spending sent inflation soaring. With little indication that it will slow...
How to Adjust Your Retirement Plan to Offset the Impact of the Three Is: Inflation, Infrastructure, and Interest Rates
Inflation, which rose considerably last year, is likely to remain high through 2022, and some experts think that infrastructure legislation will only add to inflation. Throw in rising interest rates that were just enacted by the Federal Reserve, and you have a perfect...
Troubleshooting Taxes: How to File Extensions and Amended Returns
Tax issues can be stressful. No matter the circumstances—a family or health emergency, an unexpected work trip, an unorganized filing method—sometimes you just need more time to file your taxes. And sometimes, even if you managed to file your taxes on time, you...
Don’t Be Fooled by These Common Retirement Misconceptions
When it comes to saving for retirement, it’s important to remember that standard retirement savings advice is not one-size-fits-all. Be aware of the following common misconceptions so you can meet your savings goals with clarity and confidence. The 4% Rule is...
How to Make a Retirement Distribution Plan for Long-Term Financial Security
With some strategic planning you can establish a game plan for withdrawal designed to provide the income you need to fund your retirement without the fear of running out of money. Some of these strategies, discussed below, will even help you stay ahead of inflation....
