ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money, investment edition. |
Common wisdom dictates that as we steer our savings toward retirement, we should gradually bulk up on bonds. |
Bonds are supposed to be safe, predictable, boring: the perfect antidote to mercurial stocks. |
Lately, though, bonds have felt anything but safe. Between August 2020 and October 2022, a benchmark Bloomberg bond index plunged 18%. Even now, the index remains roughly 10% below that 2020 high. |
The bond bloodbath has prompted some investors to question whether it is time to rewrite the rules of retirement saving. |
When is the time to convert to a Roth IRA? |
To convert or not convert traditional retirement savings into a Roth IRA - that's likely a big question Generation X will have to answer soon as they head into retirement, Medora Lee reports. |
Roth accounts offer retirees a lot of benefits that traditional 401(k)s don't. Roth accounts have tax-free withdrawals, aren't subject to required minimum distributions (RMD) and aren't taxable to heirs. |
But Roth IRAs didn't exist until 1997, a decade or more after Gen X (born between 1965 and 1980) started working, which means there's a good chance most of Gen X savings are in traditional accounts. With retirement closing in, they may be scrutinizing their retirement accounts and wondering if they should convert their savings to a Roth to better manage taxes in retirement. |
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This Friday is a special one because it's Fry Day. National French Fry Day, that is. |
The annual event happens each year on the second Friday in July, which makes it July 12 this year, Mike Snider reports. |
For years, the made-up holiday was held on July 13. But in 2022, fast-food chains Checkers and Rally's organized an online petition to get the National Day Calendar to move National French Fry Day so that it would always fall on a – wait for it – Friday. |
Now, down to business: Here's where to get free fries. |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | Bonds took a bath in 2022, leading investors to question their place in a retirement savings account. | | | |  | Gen X relied on 401(k)s for retirement savings, They should consider converting some of that to Roth IRAs, experts say. | | | | National French Fry Day on Friday, July 12, and you can get free fries or discounts on fries at McDonald's, Burger King and other fast-food spots. | | | | Annual inflation slowed more than expected in June as gas prices dropped while rent rose again, the CPI report said. | | | | The recognition that college isn't the only path to a well-paying job represents a long-overdue cultural shift. | | | | A financial filing by the company showed not only that it plans to close 35 to 40 locations this year, but also reported millions in lost sales. | | | | Starting Sept. 1, U.S. and Canada "Gold Star" membership fees will cost $65, while "Executive Memberships" will cost $130. | | | | Is retirement now a luxury? With rising costs and without pensions, millions of seniors can't afford to stop working into their 70s, even 80s. | | | | Albertson's and Kroger released the list of stores it will sell to C&S Wholesale in the proposed merger of the two grocery giants. See the full list. | | | | Homes are selling below list price at the peak of the housing season, a sign that the market is getting better for buyers and worse for sellers. | | | | |  | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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