Should the Fed Cut Rates? | TIPS vs I-Bonds | These Estate Plans Protect Your Loved Ones From Themselves

Is the Fed Already Late to Cut Interest Rates? | Does Your Estate Plan Protect Your Loved Ones From Themselves? | 5 Things Everyone Who Inherits an IRA Should Know Created for {EMAIL} | [Web Version]( July 30, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Instagram]( [SIGN UP]( ⋅ [WEBSITE]( [] Top Story [] [Is the Fed Already Late to Cut Interest Rates?]( [Is the Fed Already Late to Cut Interest Rates?]( (Getty Images) The Federal Open Market Committee is meeting this week, and we’re expecting more of the usual in tomorrow’s announcement: the federal funds rate will remain where it has been, keeping us in this limbo-like economic space. This has all been happening because of how the Fed gauges inflation – but what if their measure is wrong? [Moody’s Analytics chief economist Mark Zandi shares his ideas with Kiplinger.]( [] Smart Estate Planning [] [Does Your Estate Plan Protect Your Loved Ones From Themselves?]( [Does Your Estate Plan Protect Your Loved Ones From Themselves?]( (Getty Images) Many people build wealth with the hopes of leaving their children with something to improve their lives. But equally, many of those same people worry about raising “trust fund babies” who struggle to find happiness and purpose for themselves. If you’re concerned about passing your money along, including if your children or loved ones are very young, ill, disabled, or face challenges with financial responsibility, there are [estate planning options to set up guard rails](. [Banks Offering Over 4% Interest Savings Accounts]( With some banks offering above 4% on a High Yield Savings Account, now may be a good time for you to lock in your rate. [Learn More >]( ADVERTISEMENT: [] Taxes [] [5 Things Everyone Who Inherits an IRA Should Know]( [5 Things Everyone Who Inherits an IRA Should Know]( (Getty Images) The [IRS recently cleared up confusion over inherited IRAs](, making it all the more important to be up to date on tax rules and policies around inheriting an IRA. Between annual distributions, RMD penalties, and tax implications, there’s a lot to keep track of. Ultimately, inheritance and tax laws can be complex, and individual circumstances vary, so seeking professional guidance can help beneficiaries make informed decisions, and these five points will give you a good place to start. [] In Case You Missed It [] [Medicare Upgrades Could Disqualify Your Private Plan]( [Medicare Upgrades Could Disqualify Your Private Plan]( (Getty Images) Upgrades coming to Medicare prescription drug coverage under the Inflation Reduction Act may actually cause problems for some people who delay enrolling in Medicare because they are covered by health insurance from their employer. To avoid penalties, learn from Kiplinger retirement expert Elaine Silvestrini [what the upgrades mean for those covered by an employer’s health insurance](. [Fixed Annuity Rates That Can't Be Ignored]( Start reaping the benefits of a high yield fixed Annuity. Lock in your rate today by easily opening an account online in minutes. [Learn More >]( ADVERTISEMENT: [] Personal Finance [] [Should You Get TIPS or I-Bonds?]( Trying to decide if TIPS (Treasury Inflation Protected Securities) or I-bonds belong in your investment portfolio? They have similar pros and cons, making it sometimes difficult to figure out which is better. With that in mind, Kiplinger personal finance writer Donna LeValley breaks down the differences to help you decide. [Read More]( [] Credit Cards [] [Credit Cards With No Foreign Transaction Fee]( If you’re traveling abroad this summer, foreign transaction fees could really drive up the costs of your trip. To avoid that added cost, there are plenty of credit cards that don’t have foreign transaction fees – but do have annual fees. They also, however, often come with other types of rewards, too. Are these credit cards worth it for the travels you’ve got planned? [Read More]( [Earn up to $2,500]( Enjoy premium, international banking with priority services and global support, and no HSBC fees on everyday transactions. Live, work, and travel with HSBC Premier privileges & status around the world. [Learn More]( ADVERTISEMENT ABOUT KIPLINGER When we write about money, we get it right. 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