3 Places to Move Your Money Before the Next Fed Meeting

Plus, how much you would get if SS benefits are reduced. Created for {EMAIL} | [Web Version]( September 16, 2024 FOLLOW US:  [LinkedIn]( [Facebook]( [Instagram]( [A Step Ahead]( [SIGN UP](format=multipart) ⋅ [WEBSITE]( [] INTRODUCTION [] [Stepping Into Reduced Social Security Benefits]( The Social Security and Medicare trust funds are limping along; both are projected to run out in the next decade and there isn’t a concrete plan to stabilize or shore up either fund. The Old-Age and Survivors Insurance Trust Fund that pays Social Security retiree benefits is [projected to run out in 2035](. Kiplinger contributor Kathryn Pomroy tells you [how much your Social Security benefit will be reduced]( if nothing is done to ensure the solvency of the SS trust fund. - Donna LeValley, personal finance writer [This Billion Dollar Startup Wants to Help You Retire]( This Princeton grad's startup raised $161 million to help people plan for retirement. If you're one of the whopping 110 million Americans over the age of 50, or wisely planning ahead, SmartAsset's no-cost tool can help match you with up to 3 vetted financial advisors. [Learn more]( ADVERTISEMENT [] FINANCIAL PLANNING [] [3 Places to Move Your Money Before the Next Fed Meeting]( [3 Places to Move Your Money Before the Next Fed Meeting]( (Getty Images) Now is the time to decide about your short-term savings goals and where to invest your money for optimal growth. Remember that the longer you wait to invest, the lower the available savings rates will likely be. [Use my three suggestions to take advantage of the high savings rates]( before the anticipated Fed rate cut erodes APYs and lowers returns. [] HIGH-YIELD ACCOUNTS [] [Is It Worth Getting a HYSA Before the Next Fed Meeting?]( [Is It Worth Getting a HYSA Before the Next Fed Meeting?]( (Getty Images) Right now, rates on high-yield savings accounts are particularly high — over 5%. But they won’t remain this high for long. Kiplinger personal finance writer Erin Bendig explains [why you should consider opening a high-yield savings account (HYSA) before the next Fed meeting]( if you don’t already have one. [How to Develop a Dividend Reinvestment Strategy]( Generate $2,000 a month in dividends with a private REIT, specializing in industrial properties. This fund offers a path to create passive income using dividends and compound interest. With 250k at 10% APY discover how to yield $2000/month to help you reach your financial goals. [READ MORE]( ADVERTISEMENT [] INVESTING IN CERTIFICATES OF DEPOSIT (CDs) [] [Should You Get a Long-Term or Short-Term CD Before the Next Fed Meeting?]( [Should You Get a Long-Term or Short-Term CD Before the Next Fed Meeting?]( (Getty Images) Over the last several years, there’s been a surge in the popularity of [CD accounts](, as rates quickly rose in response to the Fed’s interest rate hiking campaign. But with the Fed expected to start cutting rates what CD should you open before the conclusion of the Fed meeting — a short-term or long-term account? Here's [what you need to know when investing in a long-term or short-term CD]( before the Fed meeting this week. [Earn Money While You Travel]( Discover how to make the most of your money while traveling. Avoid unnecessary fees, get the best exchange rates, and earn rewards on every purchase. Ensure financial peace of mind wherever you go with global support. [Learn More]( ADVERTISEMENT [] OTHER KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [Estate planning: How to protect family treasures]( Items like antiques, art and jewelry, as well as family photos, can carry huge emotional ties. The more specific you are in your plans, the better for everyone. [10 bond portfolio picks before the Fed cuts rates]( How to boost your bond portfolio and take advantage of this perfect storm. [The impossible trinity: Why countries can't have it all]( The impossible trinity in international economics explains the challenges countries face when attempting to achieve three key objectives for economic stability. ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Kiplinger is a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. Our [flagship publications]( include [Kiplinger Personal Finance]( magazine, [The Kiplinger Letter](, [The Kiplinger Tax Letter](, [Kiplinger Retirement Report]( and [Kiplinger Investing for Income.]( All are regarded as the leading publications in their respective fields. 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