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SmartAsset
A $1.5 Million Annuity Earns This Much Annually
Annuities are a form of hybrid financial product. Part investment and part contract, they’re primarily sold by insurance companies as a way to save for retirement. While in recent years they have come under criticism for below-market returns, many retirees … Continue reading → The post How Much Would a $1.5 Million Annuity Pay? appeared first on SmartAsset Blog.
SmartAsset
Fidelity’s Genius Way to Convert Your 401(k) into Income
Creating reliable streams of retirement income is one of the most important elements of a person’s financial plan. A retirement industry giant says it now has a new way for retirees to meet this vital challenge. Fidelity Investments plans to … Continue reading → The post There’s a New Way to Convert Your 401(k) into a Pension-like Stream of Income appeared first on SmartAsset Blog.
SmartAsset
This Is How Much A $5 Million Annuity Pays
Annuities can be complex, and it’s easy to be overwhelmed by the different types and sub-types, but they are one of the best ways to receive guaranteed income in retirement. While $5 million sounds like plenty of money to retire … Continue reading → The post How Much Would a $5 Million Annuity Pay appeared first on SmartAsset Blog.
Barrons.com
Senators Propose Letting Americans Buy $30,000 in I Bonds
The current cap on yearly buys of I bonds is $10,000 per person plus $5,000 through federal tax refunds. Two senators propose raising that limit to $30,000 in total.
SmartAsset
Should I Delay Retirement? What the Numbers Say – 2022 Study
Delaying retirement is one impactful way to extend the life of your retirement savings. Waiting several years – or decades – to leave the workforce can grow your investment accounts, increase Social Security benefits and reduce the number of years … Continue reading → The post Should I Delay Retirement? What the Numbers Say – 2022 Study appeared first on SmartAsset Blog.
Bloomberg
Florida’s Chaotic Insurance Market Braces for Hurricane Ian
(Bloomberg) — Hurricane Ian is bearing down on Florida, threatening to further destabilize a homeowners-insurance market already teetering on the edge of disaster.Most Read from BloombergGermany Suspects Sabotage Hit Russia’s Nord Stream PipelinesPutin’s Mobilization Hits Russia’s Economy in Its Weak SpotsAlzheimer’s Progression Slowed by Drug in Major TrialUS Housing Prices Fall for First Time Since 2012Everything-Selloff on Wall Street Deepens on 98% Recession OddsThe storm is expected to mak
MarketWatch
Medicare premiums are decreasing in 2023 – this is how much older Americans will save if they’re on Part B
Medicare beneficiaries will see their Part B premiums go down for the first time in more than a decade, President Biden said during a press conference on Tuesday. Monthly Part B premiums, which are currently set at $170.10 in 2022, will decline to $164.90 in 2023 – a $5.20 a month savings, or about $64 a year, according to the Centers for Medicare and Medicaid Services. The annual deductible for Part B will be $226, down $7 from $233 in 2022.
SmartAsset
Is $20,000 Enough to Have in Savings?
How much money should I keep in my savings account? This is a valid question to ask if you’re interested in making the most of your money. Savings accounts can offer liquidity, so you have convenient access to your money. And … Continue reading → The post How Much Money to Keep in a Savings Account appeared first on SmartAsset Blog.
Reuters
UPDATE 2-FEMA warns Florida against complacency as Hurricane Ian nears
The U.S. federal emergency agency warned Florida residents not to be complacent about Hurricane Ian, while President Joe Biden has called mayors in three Florida cities in the storm’s path to offer support. It has been over 100 years since Tampa, where Ian is forecast to make landfall, has taken a direct hit from a hurricane. Ian slammed into Cuba on Tuesday, forcing evacuations, cutting power to nearly 1 million people and tearing roofs off homes.
Bloomberg
The Pension Problem That Threatened to Wreck the Gilt Market
(Bloomberg) — Most Read from BloombergApple Ditches iPhone Production Increase After Demand FaltersGermany Suspects Sabotage Hit Russia’s Nord Stream PipelinesPutin’s Mobilization Hits Russia’s Economy in Its Weak SpotsRussia Declares Victory in Sham Ukraine ‘Referendums’US Housing Prices Fall for First Time Since 2012The collapse of the pound and UK government bonds in the wake of Prime Minister Liz Truss’s historic tax-cutting plan has exposed vulnerabilities in a usually sleepy corner of fin
Reuters
Door slams on Fed ‘put’ as market pain takes back seat to inflation fight
In the month since Federal Reserve Chair Jerome Powell laid down a hard line on inflation, stocks have suffered double-digit losses, chasms have opened in global currency markets, and yields on the safest U.S. government debt have surged to their highest levels since the dark days of the financial crisis nearly a decade and a half ago. U.S. central bank officials have been clear, however, just as Powell was in his remarks at the Jackson Hole economic conference in Wyoming and following the central bank’s policy meeting last week: There’s no rescue coming. If the long-touted “Fed put” – a perceived tendency to run to the aid of financial markets – isn’t dead, it has been put in deep hibernation, with U.S. officials making clear in recent days they are looking beyond both the sea of red on Wall Street and the avalanche of concern overseas that the U.S. central bank may be pushing the world to the brink of recession.
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