Here's our waning-days-of-summer Roundup of worthwhile reads on investing, personal finance, and stewardship.
- Fed was divided about interest rate cut (New York Times). Some members of the Federal Reserve's Open Market Committee argued for standing pat. Others wanted a bigger cut.
- Relying on basic Medicare with no backup insurance might be a costly mistake (CNBC). There are many medical expenses Medicare doesn't cover.
- The hidden retirement crisis: Older Americans' debt (Next Avenue). "Debt-related stress is a growing concern, given the growing amount of debt held by older adults as they enter retirement."
- The longevity of the world’s largest ETF rests on the lives of 11 U.S. millennials (Los Angeles Times). The interesting (and little-known) backstory of SPY — the SPDR S&P 500 ETF Trust.
- How US churches cover millions in medical debt (Christianity Today). A startup nonprofit is buying medical debt for pennies on the dollar and inviting churches and other charitable donors to settle the reduced debts. "As an act of love in the name of Jesus Christ, your debt has been forgiven."
And from the bloggers and pundits...
- "Make It Stop" (Michael Batnick, The Irrelevant Investor). Why younger investors should welcome market downturns.
- Compound Annual Growth Rate (CAGR) calculation and examples (Pinyo Bhulipongsanon, Moolanomy). An explanation of "annualized" returns.
- Best bank account interest rates (DepositAccounts.com). No surprise, but with the odds of additional Fed rate cuts rising, banks are lowering savings account and CD rates. But a few good deals still exist.
- Pay it down (Jonathan Clements, Humble Dollar). Clements argues for pre-paying your mortgage.
- The IRS announces changes to HSA-eligible HDHP's for chronic conditions (G.E. Miller, 20somethingfinance). A helpful change in Health Savings Account rules for people with certain chronic health conditions.
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