What’s Poppin’,
​

This is the Master Money Newsletter where we teach you how to master your money in less than 5 minutes a week. Or as your grandma said, in a jiffy.

​

Here’s what we have on deck today:

-The Juicy I-Bond Return is going to change.

-The IRS has Increased 401(K) contribution limits!

-We're Talking Millions!

-The Long Term Investors Advantage

​
Sometimes on The Master Money Newsletter we have to bring the heat with time-sensitive news.

​

Today is one of those days, because that sweet, juicy, 9.62% return on I-Bonds is about to run out. In November, the return is expected to go down.

​

Now, if you have never heard of I-Bonds, we did a podcast on them here. In that episode, we also gave you a step-by-step guide to buying I-Bonds here.

​

So if you want to buy I-Bonds, now is the time. Let me remind you of a few rules.

​

1/ You can invest up to $10,000 per year per person (Yes, you can invest less).

2/ You can also invest up to $10,000 via trust or business.

3/ You have that rate locked in for 6 months, then it adjusts to the current rate for the next 6 months.

4/ You can't sell in under a year unless you want to face a penalty.

5/ I bonds earn interest for 30 years unless you cash them first. You can cash them after one year. But if you cash them before five years, you lose the previous three months of interest. (For example, if you cash an I bond after 18 months, you get the first 15 months of interest.)

6/ The rate is based on 2 factors. A combination of a fixed rate that stays the same for the life of the bond and an inflation rate that is set twice a year.

You have until the last day of October to complete the process. If you buy one before the 31st, you will be locked in to the 9.62% rate for 6 months. Otherwise, you will be locked in at the new rate. Here is the website to buy them.

​

Note: The website is clunky and has been down due to high volume. If it does not work the first time keep trying.

​

The IRS has changed the 401(K) and IRA Contribution Limits!

Master Money 💰 @mastermoneyco The IRS has changed the 401(K) and IRA contributions. This is the Largest-Ever Increase to 401(k) Contribution Limit: 401(k) Under Age 50: $22,500 (+2,000) 401(k) Over Age 50: $30,000 (+2,000) IRA Under Age 50: $6,500 (+$500) IRA Over Age 50: $7,500 (+500) October 26th 2022 0 Retweets 0 Likes

NOTE: If you have a Roth IRA the "IRA" rules would apply. If you have a ROTH 401(K), the 401(K) rules would apply.

High-Performance Book Club 📚

I get a ton of questions from listeners and readers as to what I am reading. So we decided to let you know via the newsletter. The High-Performance Book Club will be a way to share this. If you want to be Elite in your career, business, or with your wealth, then welcome to the club. Want to see previous weeks? Check them out here. ​

​

​We're Talking Millions​

​

10-second tip of the week ⏰

​
The stock market will always attract people who are in a rush to build wealth but will actually build wealth for people who are not in a rush.
​

Podcast/Youtube

​The Million Dollar Money Decisions You Should Be Focusing On​
​

​
​

What to Do Next:

• If you are enjoying this newsletter please it to a friend!
• If you have any questions or suggestions, reply to this email.
• Did someone share this newsletter with you? Sign up here. ​

​