Certificate of Deposit (CD) rates have experienced a dramatic rollercoaster over the past decade, from historic lows during the COVID-19 pandemic to reaching heights not seen in over 15 years. This comprehensive analysis examines three critical benchmarks: national average CD rates, the absolute best rates available from top online banks, and—most importantly—the “reasonable rates” that real consumers can realistically achieve with moderate effort.
Heartbreaking.
“*Makes it easier for small businesses to offer their employees 401(k) plans and adds tax credits and protections on collective Multiple Employer Plans.
*Allows retirement benefits to be extended to long-term, part-time employees.
*Removes maximum age limits on retirement contributions, formerly capped at age 70½.
*Raises the required minimum distribution (RMD) age to 72 from 70½. (The age has been raised to 73 as of Jan. 1, 2023.)
*Allows penalty-free withdrawals of up to $5,000 from retirement plans for the birth or adoption of a child.
*Relaxes rules on employers offering annuities through sponsored retirement plans.
*Allows penalty-free withdrawals of up to $10,000 from 529 education savings plans for the repayment of certain student loans.
*Revises components of the Tax Cuts and Jobs Act that raised taxes on benefits received by family members of students, some Native Americans, and deceased veterans.
*Removed the stretch IRA estate-planning strategy that permitted non-spouse beneficiaries of IRAs to spread disbursements from the inherited money over their lifetimes. The new limit is within 10 years of the death of the original account holder. “
If you know anyone who was a Veteran even briefly during a period of conflict, be sure and have them contact us. We have decades long relationships with VA Accredited Attorneys who can help in ways that may be life changing.
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