Here's our Roundup of interesting and (mostly) non-political articles for this week. Enjoy!
- Fed holds interest rates steady near zero, says economy is still well below pre-pandemic levels (CNBC). Fed Chairman Powell: "We're strongly committed to using these powerful tools that we have to support the economy...for as long as needed."
- When the siren song of market timing is the loudest (Ben Carlson, A Wealth of Common Sense). The temptation to try to outguess the market is always present, but sometimes the temptation is particularly strong.
- Americans were given the coronavirus option to raid their 401(k). Most didn’t. (The Wall Street Journal via Fox Business). Withdrawal rates are "much less dire than we were thinking back in April," says a Vanguard executive. Fidelity, Principal Financial, and T. Rowe Price also have seen relatively few withdrawals related to COVID-19.
- Today's headlines are tomorrow's footnotes (Ashby Daniels, Retirement Field Guide). "Reading old articles...made me realize how irrelevant the headlines from decades past are with regard to where we stand today."
- This is what your Social Security check will look like next year — and why (Mark Hulbert, Marketwatch). How the Social Security Administration calculates the annual cost-of-living adjustment in benefits — and why some people think a different approach is needed.
- 2021 retirement plan limits (Plan Sponsor Council of America). We mentioned the new limits in the Roundup last week (and linked to an IRS document) but here they are in an easy-to-read format.
- Zero-based budgeting: The ultimate guide (Mint Blog). The zero-based approach involves assigning a role — in advance — for every single dollar of income.
- Charting America's debt: $27 trillion and counting (Visual Capitalist). And speaking of budgets...
- The employees who gave most to Trump and Biden (Bloomberg, soft paywall). OK, one political piece. The second graphic is fascinating: "The 100 occupations with the most workers who donated to each campaign."
- The burden of ownership (Leo Sabo, Christian Stewardship Network). "When I act like an owner, worry, fear, and anxiety are always present because there are many things I cannot control."
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