Here is our heading-into-Memorial-Day weekend roundup of interesting reads on investing, personal finance, and stewardship.
The number of 401(k) millionaires hits a new high (Washington Post). But it didn’t happen overnight. Most 401(k) millionaires have been saving steadily for about 30 years.
What if this turns out to be a terrible time to retire? (Morningstar). The same forces fueling retirement confidence now have the potential to work against new retirees in the years ahead. Food for thought about "sequence of returns" risk.
I.R.S. warns states not to circumvent state and local tax cap (New York Times). Several states, including New York and California, have tried to blunt the impact of the recent federal tax law’s $10,000 cap on the state and local tax deduction.
Proposed tax bill would make charitable deduction universal (ThinkAdvisor). The ink is hardly dry on the latest tax law, but here comes another proposed piece of legislation: The bipartisan Charitable Giving Tax Deduction Act, which would allow all taxpayers to write off donations to charity whether or not they itemize.
RetailMeNot buys LowestMed (Silicon Hills News). We mentioned the price-comparison site LowestMed.com in our April article, Finding the Right Prescription: How to Save on Medications. Now, after being purchased this month by the online-coupon site RetailMeNot, LowestMed has been rebranded as RetailMeNot Rx Saver.
And from the blogosphere...
Borrow…if you dare (Nick Maggiulli, Of Dollars and Data). Why borrowing to invest is one of the most dangerous things you can do as an investor.
Claiming Social Security early to invest it: What rate of return (discount rate) should we assume? (Mike Piper, Oblivious Investor). Taking SS retirement benefits early and investing them might not be a bad idea, but don’t be overly optimistic about the potential for gains.
Trends in college savings (Mark Kantrowitz, SavingForCollege.com). College savings are up, but less than half of savers are using tax-favored college-savings accounts such as 529 plans and Coverdell accounts. Go figure.
What is the primary reason for Christian giving in the Bible? (Juicy Ecumenism). A transcript of a remarkable testimony by tech-entrepreneur-turned pastor Dominic Sputo, author of Heirloom Love: Authentic Christianity for this Age of Persecution.
Radio transition (Compass – finances God’s way). Tuesday’s "SMI on the Radio" post noted that our executive editor Mark Biller was on MoneyWise this week, but it didn’t mention Compass, the ministry that’s been producing that program for the past several years. That’s because Compass has handed off MoneyWise. Compass founder Howard Dayton has details at the link.
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