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How the Fed’s Latest Move Impacts Savings Rates

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kiplinger.com

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Fri, Mar 22, 2024 06:48 PM

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And, learn where you can find the happiest places to live in America in 2024. Created for {EMAIL} |

And, learn where you can find the happiest places to live in America in 2024. Created for {EMAIL} | [Web Version]( March 22, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Instagram ]( [Youtube]( [SIGN UP]( ⋅ [WEBSITE]( [] Introduction [] [Stepping Into Nursing Home Care]( If the prospect of paying a mortgage or college tuition seems daunting — how to pay for nursing home care can be downright disconcerting. It comes at a time in your life when you are living on a fixed income and physically vulnerable. I know all too well that after a certain age, making sure there is a plan in place becomes more urgent. Kiplinger personal finance writer Erin Bendig gives a clear picture of [how to finance nursing home care]( when Medicare won’t pay those expenses. - Donna LeValley, personal finance writer [Prepare For Retirement Using a Dividend Growth Investment Strategy]( If you invested in an S&P 500 index fund starting in January 2000 until September 2020 your average annualized return would have been 4.2%, a cumulative return of 136%. But if you reinvested all dividend payments your annualized return would have been 6.2%, a cumulative return of 247%. Just reinvesting dividends would have nearly doubled your gains. [READ MORE]( ADVERTISEMENT [] TOP STORY [] [What the Fed's Latest Move May Mean For Savings Accounts]( [What the Fed's Latest Move May Mean For Savings Accounts]( (Getty Images) I’m part of the crowd that is eagerly awaiting a rate cut from the Fed. But these rate cuts will signal the end of the great savings rates that CDs and high yield savings accounts have been paying. There is strong sentiment that there will be [three rate cuts this year]( starting in June. Keep reading to [find the best places to lock in a 5% savings rate]( before it's gone. [] DATA PROTECTION [] [10 Riskiest Places to Give Your Social Security Number]( [10 Riskiest Places to Give Your Social Security Number]( (Getty Images) I like to joke that the first thing I learned in college was my Social Security number; I was asked for it at every turn. Being judicious of who you share your number with is vital to protecting your identity. Here's [how to lower the chances of your Social Security number falling into the wrong hands — and what to do if it does](. [Is your money working hard enough?]( It should be! Learn how Betterment's automated investing and savings technology can make your money hustle, while you don't. [LEARN MORE]( ADVERTISEMENT [] EARNING TRAVEL REWARDS [] [Save on Airbnb and VRBO with Credit Card and Airline Rewards]( [Save on Airbnb and VRBO with Credit Card and Airline Rewards]( (Getty Images) Would you like to earn rewards when you pay for your accommodations? Here is [a guide to earning and redeeming points or miles by booking an Airbnb or VRBO](. Our credit card expert Ellen Kennedy gives you a number of options to earn maximum points and some insight about whether you save on a stay by booking a short-term rental as opposed to a hotel. [Growth Investing: Tapping Trends Beyond the Mag 7]( Innovation at the Magnificent Seven tech giants has driven strong returns, but other companies are also poised to benefit from innovation. At Parnassus Investments, we see promising secular trends in AI, life sciences, cloud computing and digital payments. [LEARN MORE]( The Parnassus Funds are distributed by Parnassus Funds Distributor, LLC. Mutual fund investing involves risk, and loss of principal is possible. ADVERTISEMENT: [] OTHER KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [Happiest places to live in America in 2024]( I don’t think it’s any surprise that many of the happiest places to live have abundant sunshine. [Free Hyundai anti-theft clinic in Las Vegas this weekend]( I think this is a great idea. More localities should help their citizens this way. [Social Security chief testifies in senate about plans to stop ‘clawback cruelty’]( The Social Security Administration has a revised plan to recoup overpayments. [Mercedes-Benz recalls 116,000 vehicles over fire risk]( Stay abreast of the latest safety recall for Mercedes Benz vehicles. [Sign Up for Kiplinger's Free Tax Tips E-Newsletter for Money-Saving Tax Planning and Compliance Advice]( ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Kiplinger is a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. Our [flagship publications]( include [Kiplinger Personal Finance]( magazine, [The Kiplinger Letter]( [The Kiplinger Tax Letter]( [Kiplinger Retirement Report]( and [Kiplinger Investing for Income.]( All are regarded as the leading publications in their respective fields. Every day, millions of readers rely on our [free e-newsletters]( for help on everything from getting the best rate on a mortgage or car loan, to managing their businesses in an uncertain world, avoiding an IRS audit, building wealth for a secure retirement, or investing wisely in any kind of market. Now it’s your turn to reap all the rewards Kiplinger has to offer. Visit [Kiplinger.com](, your gateway to all of the above and much more. Check in any time for our latest advice on how to make more money, and keep more of the money you make. Stay right on the money, with Kiplinger. [Sign Up]( | [Print Publications]( | [Unsubscribe]( [Privacy Policy]( | [Cookies Policy]( | [Terms and Conditions]( CONTACT US: [FEEDBACK](concat('mailto:',$brief_feedback_email)) | [ADVERTISE]( [Future]( Future US LLC © Full 7th Floor, 130 West 42nd Street, New York, NY, 10036

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