On May 4, 2022, the Federal Open Market Committee (FOMC) of the Federal Reserve raised the benchmark federal funds rate 0.50%. This is part of a series of increases that the FOMC expects to carry out over the next two years to combat high inflation.1 Along with announcing the current increase, … [Read more...]
What Do Rising Interest Rates Mean for Your Money?
Required Distributions from IRAs – An Update
The rules for required minimum distributions (RMDs) recently changed when the SECURE Act was passed in 2019. Retirement accounts inherited after 2019 are now subject to a ‘10-year rule’ that requires the account to be emptied within 10 years of the death of the original owner, with some … [Read more...]
Falling Bond Prices
The ups and downs of the bond market aren’t typically as dramatic as stock market fluctuations. However, this isn’t always the case, as we’ve seen so far in 2022. The Federal Open Market Committee has started raising the federal funds rate and plans to continue to raise it further, which has caused … [Read more...]
Adjusting to Life Financially after a Divorce
There's no doubt about it — going through a divorce can be an emotionally trying time. Ironing out a divorce settlement, attending various court hearings, and dealing with competing attorneys can all weigh heavily on the parties involved. In addition to the emotional impact a divorce can have, it's … [Read more...]
Five Questions about Long-Term Care
1. What is long-term care? Long-term care refers to the ongoing services and support needed by people who have chronic health conditions or disabilities. There are three levels of long-term care: Skilled care: Generally round-the-clock care that's given by professional health care providers … [Read more...]