There was a return to volatility this week, although nothing like the throes of March. Markets spiked on positive vaccine news that evaporated as fast as landed, then retreated on weak economic news from around the world. That’ll likely be the pattern for the next month or so.
Investors, especially older ones, have been moving money out of stocks into money markets and high-yield savings accounts. Some are assessing their gains and considering tax moves and strategies to book their gains and hold onto them. And of course, some hungry investors were looking for gains in gold, which has been one of the best performing assets this year.
These were the top spiking articles on Investopedia this week:
Some of our readers are looking to either open a Roth-IRA or convert to one given some of the tax advantages that are being amplified by the CARES Act. This has been a recent trend, and a good strategy for many.
Money in the bank seems pretty safe right now, even though yields on even the highest yielding savings account are around 1.5%. Besides money markets, high-yield savings accounts are a magnet for money right now, and readers were looking for the best options on this article.
Some investors may have been looking to book some gains from the market recovery and seeking the most tax advantageous ways to do that.
Now that it appears many of us will be working from home for awhile, some readers in the U.S. may be looking to relocate to more tax-friendly states. Florida and Texas fit that description, but they are both getting hit hard from the economic impacts of the pandemic.
Will a trend in motion stay in motion? Many of our readers hope so as they learn how to invest in gold through stocks and ETFs like GLD. Gold has been the safe haven for the better part of the year, and also one of the best performing securities on the planet.