Well, we’re not out of the woods yet in terms of rising inflation. Over the last few months, the wide-ranging CPI number seemed to be peaking, but the May number came in this morning slightly higher than expected. As I’m sure you guessed, investors are reacting VERY calm and rationally this morning. (sarcasm)
Here’s what I’ve been reading this morning:
‘U.S. Inflation Hit 8.6% in May’ – Gwynn Guilford – The Wall Street Journal
- The highest reading for CPI that we’ve seen in decades came out this morning. Though it’s not a total surprise, it’s still noteworthy. This article digs into which sectors of the economy are leading the way.
‘More Companies are Offering an After-Tax 401(k) Option to Big Savers’ – Kate Dore – CNBC
- If you can afford it from a monthly cash flow stand point, maxing out your 401(k) contributions is a great way to get ready for retirement. This article discusses how some companies are letting those who hit their max save MORE with after-tax contributions.
‘Financial Slimming’ – Jonathan Clements – Humble Dollar
- There is absolutely no shortage of account options to put your money in today’s world. Whether it’s in bonds, stocks, savings accounts, credit cards, you name it, people can have their money just about anywhere. Jonathan writes about why he tries to MINIMIZE the number of places he has money these days.
‘Why Saving in a 401(k) May Be Tough For Frequent Job Switchers’ – Greg Iacurci – CNBC
- Like we mentioned in the article above, if you can swing it, saving in a 401(k) is a great way to prep for retirement. However, if you constantly switch jobs, it might be difficult. This article talks about why that’s the case.