THE FALLOUT FROM UKRAINE
You don’t need us to tell you that Russia’s invasion of Ukraine—and Western sanctions on Russia—are playing havoc with your finances. You’re reminded of the pain afflicting your pocketbook every time you fill your gas tank. But the collateral damage doesn’t end there. Americans are spending more at the supermarket, mortgage rates are higher, and investors have experienced heavy casualties in their portfolios.
Sanctions on Russia will exacerbate already high inflation, which reached 7.9% in February. Russia’s main contributions to the world economy are commodities—oil, gas, wheat, nickel, aluminum, palladium. To the extent that sanctions cut off those exports, prices will climb still higher. For the global economy, this is the biggest hit since the onset of COVID-19. How bad will the pain get?
Household budgets. The average price of a gallon of regular gas breached $4 in early March, and gas prices were quickly heading higher. To add even more price pressure, on March 8, President Biden said he was banning all imports of oil and natural gas from Russia. The United Kingdom also announced a ban on all Russian oil products by the end of the year. European Union officials unveiled a separate plan to cut Russian gas imports by about two-thirds this year. Replacing all those lost barrels of Russian oil and refined fuels probably can’t be done, at least in the near term, because Russia is the world’s third-largest oil producer after the U.S. and Saudi Arabia.
Bu hikaye Kiplinger's Personal Finance dergisinin May 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Kiplinger's Personal Finance dergisinin May 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
HOW INFLATION ADJUSTMENTS WILL AFFECT YOUR TAXES
We looked at IRS rules for 2025 on everything from tax brackets to how much you can save in retirement accounts.
GUARD AGAINST IDENTITY THEFT IN THE NEW YEAR
Scammers are getting better at impersonating legitimate businesses.
SHOULD YOU BUY PET HEALTH INSURANCE?
You can fend off big veterinary bills with a policy that covers your furry companion.
THE LOWDOWN ON BUYING A VACATION HOME
If you return to a beloved destination again and again, purchasing a home there may be a smart move-but don't overlook the costs and effort that go into it.
HOW COUPLES CAN MANAGE DIFFERING RETIREMENT TIME LINES
Staggered retirement is increasingly common, but it can create financial and emotional challenges.
AVOID THESE CREDIT MISSTEPS
KIPLINGER ADVISOR COLLECTIVE
WHAT YOU NEED TO KNOW ABOUT WORKING FOR YOURSELF
Whether you're looking for a side gig or planning to start your own business, it has never been easier to strike out on your own.
My Top 10 Stock Picks for 2025
SINCE 1993, I have offered an annual list of 10 stocks with the potential to beat the market in the 12 months ahead. My 2024 selections notched the highest return ever: an average of 48.9%. I beat the S&P 500 index by 10.8 percentage points, and every one of my stocks was up-six by more than 30%.
WHAT MAKES AN ETF SUCCESSFUL?
EXCHANGE-traded funds have exploded in popularity, with the industry now reaching the milestone of $10 trillion in assets.
TIPS FROM INSIDERS
When corporate insiders buy or sell, it can offer clues on whether you should do the same.