This will be a quick post. I wanted to suggest a few “year end” sort of personal finance moves for the more retail investor types among us.
First, you should max out your tax advantaged accounts. If you are unable to max them out for 2017, you should increase your contribution in the new year to move in that direction. In the future, I plan a post about why we should automate our savings. For now, pay yourself first by automatically saving. If you are not able to max out available tax advantaged accounts, consider increasing your contributions by 100% of any raises you receive (50% if you are particularly strapped for cash). I will leave the Roth versus Traditional analysis for your consideration. Go to the MadFientist blog for more information to be used in making your decision.
Second, you should consider buying $10,000 (or whatever you desire your bond allocation for this year to be) in U.S. Treasury Series I savings bonds (“I Bonds”). There are compelling reasons why investors should purchase zero additional bonds until they have purchased all of the I Bonds the U.S. allows each year. Continue reading “Year End Moves: I Bonds”