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Last year, the IRS finalized rules outlined in the SECURE 2.0 Act that change how some workers can make catch-up contributions to their employer retirement plans such as 401(k)s. While many plans are preparing for the change, plans must be fully compliant by Jan. 1, 2027.
Now is a good time to revisit your retirement strategy and assess if and how your contribution strategy will change. Here’s what to know about the new rule.

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What is changing in 2027?
Catch-up contributions allow anyone who is 50 or older to contribute extra money to their 401(k), 403(b), individual retirement account (IRA) and similar retirement plans than the typical contribution limits allowed. However, the new rule says that some high earners must put catch-up contributions in a Roth plan moving forward. That means you must pay taxes on those contributions now, but qualified withdrawals are tax-free in retirement.
The rule takes full effect in 2027 and applies to workers whose prior-year Federal Insurance Contributions Act (FICA) wages from that employer exceeded a certain threshold. SECURE 2.0 set that threshold at $145,000, with annual inflation adjustments beginning after 2025. For 2026, the IRS increased the threshold to $150,000.
Anyone who is 60 to 63 years old can make a “super” catch-up contribution. For tax year 2026, workers ages 60 to 63 can make catch-up contributions of up to $11,250, compared with the standard catch-up limit of $8,000. High earners must designate the super catch-up contributions as Roth contributions.
These changes do not impact your regular contributions. You can designate those as traditional or Roth, depending on your plan.

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Why planning matters
Plans have to be fully in compliance by the beginning of 2027, which means you may still have time to plan for it before the tax change becomes official, if this affects you. Since your contributions are not tax-deferred, you may end up with a higher tax bill. You can assess your prior-year FICA wages to assess if you will cross the threshold and be required to make catch-up contributions in a Roth account.
A raise, bonus or job change can impact who is required to contribute to a Roth plan. While you may end up with a higher tax bill now, being forced to put catch-up contributions in a Roth account can offer more tax diversification in retirement. You can then pull from a Roth retirement plan with tax-free qualified withdrawals for part of your living expenses instead of only leaning into a retirement plan where distributions are treated as ordinary income.
How high earners should adjust their retirement strategy
It’s better to prepare now than scramble at the end of the year. Be sure to review contribution elections before the start of 2027 and give yourself time to ask your HR department questions regarding your retirement plan if you don’t understand how the change will affect you. You can also ask them or the plan provider how your employer will implement the Roth catch-up requirement. Keep in mind that if they don’t offer a Roth option, you generally won’t be able to make catch-up contributions (unless the plan is amended).
You should also assess how your taxes will be different moving forward. High earners who are 50 years or older may need to budget for higher current-year taxes. If you intend to max out catch-up contributions, more of your retirement contributions will be taxed today instead of when you withdraw them in retirement.
Roth contributions aren’t automatically better or worse. It depends on your financial situation, but you must pay closer attention to how your earnings are taxed.

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From ancient civilizations and medieval nobility to modern investors, gold has remained one of the most high-demand assets in human history. The precious metal is considered a store of value with its price stability offering a safe haven for investors and collectors alike.
There are numerous ways to add the precious metal to an investment portfolio, from purchasing physical gold to investing in gold-backed securities. As an investor, you need to determine which approach is the best fit for you given your unique financial situation — and whether investing in gold makes sense for you at all.
If you’re wondering if gold is a good investment, this comprehensive guide will explain how to invest in physical gold, gold mining stocks, gold exchange-traded funds (ETFs and mutual funds and gold individual retirement accounts (IRAs). We survey the advantages and disadvantages of each, and you’ll gain insight into gold prices and how to choose an appropriate investment strategy tailored to your needs.

What is the best way to invest in gold?
There are several ways you can invest in gold, each of which has advantages and disadvantages. It is crucial to carefully evaluate your investment goals before determining which option is best for you. Factors like your timeline until retirement, anticipated income needs (keeping in mind that gold typically does not generate income until you sell it) and your overall risk tolerance should be considered. Also, be mindful that investing in gold is typically not a good short-term strategy as the precious metal performs best in a portfolio when it is held as a long-term investment.
Investing in physical gold
Physical gold includes anything from gold bullion — investment-quality gold with a purity of 99.5% (995) in the shape of bars, ingots, coins or rounds — to jewelry and other collectibles. There are many reputable dealers, custodians and depositories that can help you purchase the physical gold assets and securely store it.
To learn more about reputable sellers, read our guide to the best online gold dealers.
One advantage to investing in pure gold is that there’s robust global demand and transparent pricing. The spot price of gold is the current price at which gold trades internationally, making it easy for investors to know how much their gold is worth in real time. Furthermore, if you’re not interested in paying recurring fees for custodians and depositories, owning physical gold comes with the option of securing it yourself, thereby allowing you to hold the asset in your hands and even trade it face to face, which is appealing to some investors.
On the other hand, purchasing physical gold has its risks and drawbacks. For one, verifying the purity of the precious metal can be difficult, so it’s crucial to ensure you buy from reputable dealers, whether you’re purchasing coins or jewelry in person or via an online metals broker. Additionally, you may have to pay other fees like transaction, processing, insurance and storage costs, which could reduce your overall return on investment.
Read our comprehensive guide on how to buy gold to learn more. If you’d prefer investing in gold through securities — rather than owning the physical metal itself — the following section discusses the various ways investors can add gold to their investment portfolios.
Investing in gold stocks
Stocks of companies focused on mining gold or licensing the rights to the gold at a mining site are another option for investors who want to invest in the precious metal without buying physical assets. These stocks include shares of companies that extract gold through mining — senior miners (well-established companies) or junior miners (startups) — or that finance gold production and/or secure the rights to gold at a mining site (gold streaming companies).
Although these companies should theoretically benefit from an increase in gold prices, some are better positioned to take advantage of higher prices, while others may weather downturns in gold prices more effectively. However, gold mining stocks experience greater volatility than physical assets; therefore, investing in gold stocks can make your portfolio subject to significant price fluctuations.
Additionally, unlike physical gold, which always retains some level of value, there’s a non-zero possibility that an investment in a gold mining company could become worthless if the company goes bankrupt or its mine ceases production. The latter is a valid concern as gold is a finite resource and peak gold — the date at which maximum gold extraction has occurred — is a future reality.
Pros and cons of investing in gold mining stocks

Pros

Some pay dividends, which you can’t earn with physical gold.
Some brokerages and investment apps make fractional shares available to customers.
The price appreciation of shares can be considerably higher than that of the underlying metal.

Cons

The price of gold stocks tend to be more volatile than gold itself.
Stock prices are susceptible to factors outside of the price of gold, like management decisions and broad market trends.
Shares of junior gold mining companies may not provide high liquidity.

Ways to invest in gold stocks
Buying gold stocks is relatively simple and can be done via a brokerage account with an online broker or an investment app. Once you add funds to your account, you can pick a gold mining stock and place a limit or market order.
Some of the major gold companies include:

Barrick Mining Corp (B)
Newmont Corp. (NEM)
Kinross Gold Corp. (K.TO)
B2Gold Corp. (BTO.TO)
AngloGold Ashanti Ltd. (AU)
Sibanye-Stillwater Ltd. (SBSW)
Dundee Precious Metals Inc. (DPM.TO)

It’s important to conduct thorough research by looking into each company’s financial strengths and weaknesses, and understanding the potential risks of investing in any particular gold stock before purchasing shares.
Investing in gold ETFs and mutual funds
For investors who don’t feel comfortable picking individual stocks, gold ETFs and mutual funds provide a way to invest in the gold with greater diversification than you could get by investing in individual gold stocks or by owning the physical metal. These funds can hold stock in gold mining companies or gold streaming companies, and in some cases, physical gold bullion itself, providing you with greater industry exposure and reduced risk since your investment is spread out across numerous holdings.
The funds’ prices are partially influenced by gold’s spot price but are also heavily dependent on how the companies among its holdings perform. Compared to buying individual gold stocks, gold ETFs and mutual funds are generally less volatile and can help you add liquidity and diversification to your portfolio without the risk associated with investing in a single gold mining or gold streaming company.
Gold ETFs
Gold ETFs can own physical gold, stock in companies engaged in gold mining and gold production or a combination of both.
Pros and cons of investing in gold ETFs

Pros

There’s no storage needed for physical gold holdings as ETFs’ gold is stored in vaults.
ETFs present simple, beginner-friendly options that offer exposure to the industry without having to own physical gold or individual gold stocks.
Gold ETFs generally have high liquidity, making buying and selling their shares easy.

Cons

ETFs charge expense ratios — fees investors pay annually for fund management, administration, marketing and other costs incurred.
Successful ETF investing requires some familiarity with the industry or sector the fund is leveraged to.
Gold ETFs experience more price volatility than the physical metal.

Ways to invest in gold ETFs
Investors buy shares in a fund via a brokerage, whether in-person or online. ETFs charge expense ratios — the fees assessed for management, administration and marketing — but they tend to be lower than the fees charged by mutual funds since most ETFs are passively managed.
Typically, expense ratios for ETFs are under 1%, meaning if you invested $1,000 in a fund with that rate, you’d be charged $10 annually. In some instances, gold ETFs will pay dividend yields that can more than offset the expense ratios they charge.
Some popular gold ETFs that trade on major exchanges include:

VanEck Gold Miners ETF (GDX)
SPDR Gold Shares ETF (GLD)
iShares Gold Trust ETF (IAU)
SPDR Gold MiniShares Trust (GLDM)
abrdn Physical Gold Shares ETF (SGOL)
GraniteShares Gold Trust (BAR)
VanEck Merk Gold (OUNZ)

Gold mutual funds
Gold mutual funds — like other mutual funds — pool money from multiple investors and are managed on your behalf in gold investments. They typically invest in gold mining or gold refining companies’ stock, though some own small amounts of gold bullion.
Mutual funds’ expense ratios are typically higher than those for ETFs because they’re usually actively managed, meaning there’s a fund manager or team of people conducting research, analyzing potential investments and then making investment decisions for the fund. Actively managed funds routinely charge 0.5%–1% annually and rarely exceed 2.5%.
Pros and cons of investing in gold mutual funds

Pros

You don’t have to research individual gold stocks.
Shares can easily be purchased through a brokerage or investing app.
Gold mutual funds generally have high liquidity, making buying and selling their shares easy.

Cons

Mutual funds’ expense ratios are typically higher than they are for ETFs.
The price of gold mutual funds can be more volatile than the price of physical gold.
Some mutual funds require minimum investment amounts, which can make them prohibitively expensive for some investors.

Ways to invest in gold mutual funds
Mutual funds can be purchased through a brokerage (in-person or online) or via online stock trading apps.
Some popular gold mutual funds include:

Sprott Gold Equity Fund (SGDIX)
Franklin Gold and Precious Metals Fund (FKRCX)
Gabelli Gold Fund Class AAA (GOLDX)
Invesco Gold and Special Minerals FD (OPGSX)
US Global Investors and Prec Mtls Fd (USERX)
First Eagle Gold Fund (SGGDX)
Van Eck International Investors Gold Fund (INIVX)
USAA Precious Metals and Minerals Fund (USAGX)
Fidelity® Select Gold Portfolio (FGDAX)

Investing in gold futures
Investing in gold futures can produce significant returns, but they’re also accompanied by much higher risk than gold stocks, ETFs and mutual funds. With gold futures, you agree to buy or sell a specific amount of gold at an agreed-upon price on a future date. Most people are unfamiliar with these types of investments, as they’re typically used by professional investors, seasoned traders and financial institutions.
Most people buying and selling these contracts are not interested in physical delivery of the gold but are trying to speculate on future price movements of gold. These contracts are highly leveraged, so small movements in the price of gold are magnified, which is why these instruments can be both potentially lucrative and very risky.
The contracts, whose value can also be settled for cash, can be traded among speculators who hope to make money by betting that the price of gold will increase or decrease in value before the settlement date. Futures contracts are usually for 100 troy ounces of gold, while their prices are quoted in U.S. dollars per troy ounce.
Pros and cons to investing in gold futures contracts

Pros

You can manage positions nearly 24 hours a day.
There is considerably high liquidity and low execution cost.
Gold futures can produce significant returns.

Cons

You can lose more than your original investment.
Gold futures are higher-risk investments.
Derivative contracts aren’t suitable for beginners.

Ways to invest in gold futures
In the U.S., gold futures are traded on the New York Mercantile Exchange (NYMEX). To buy gold futures contracts, you need a brokerage account with a full-service broker that supports futures trading, such as Charles Shwab or E*Trade. You can also open an account directly with CME Group, the derivatives marketplace that manages NYMEX.
Futures exchanges typically require traders to stake only a small fraction of the contract’s overall value to buy or sell a futures contract. However, if the contract falls or rises, the exchange can demand additional collateral on short notice. This feature of futures trading makes it possible to lose more than the initial amount of your investment — even before the settlement date of the contract — making it dangerous for most novice investors.

Investing in gold IRAs
A gold IRA is a special type of retirement account that allows investors to hold physical gold (and other precious metals like silver, platinum and palladium) via a gold dealer, custodian and depository. These self-directed IRAs, as the IRS classifies them, let people hold alternative assets like gold, cryptocurrency or real estate in a retirement account, which is not permitted with a traditional or Roth IRA.
However, similar to traditional IRAs, gold IRAs allow investors to make pre-tax contributions up to a certain amount each year. Growth is tax-deferred, and you pay taxes when you take distributions. There are also Roth versions of gold IRAs that allow investors to make post-tax contributions and make tax-free withdrawals at any point. Additionally, simplified employee pension plan (SEP) gold IRAs are available for self-employed individuals.
Pros and cons of investing in gold IRAs

Pros

Gold dealers work with IRS-approved gold custodians, which follow strict rules and guidelines.
Can help diversify your retirement portfolio, serving as a hedge against inflation or weakness in the U.S. dollar.
Some may let you roll over part of another IRA or 401(k).
Plans offer tax advantages similar to traditional and Roth IRAs.

Cons

Gold IRAs typically charge ongoing fees for account maintenance, storage and insurance.
They require higher initial purchase orders, which can range from $5,000 to $50,000.
This type of IRA requires you to start taking required minimum distributions at age 73 if you were born between 1951 and 1959 — or at age 75 if you were born in 1960 or later.

How to invest in gold IRAs
To buy gold in an IRA you need to open an account with a gold IRA company. Some popular gold IRA companies include:

Augusta Precious Metals
Orion Metal Exchange
Goldco
American Hartford Gold

Reputable gold IRA companies are typically transparent about their fees and offer unbiased educational resources and responsive customer support. They also feature intuitive account setup and options to rollover different retirement accounts. If you’re interested in opening a gold IRA, we recommend you check our guide on how to buy gold in an IRA.
Is gold a good investment?
Determining whether or not gold is a good investment depends on your broader investment goals. For some investors, gold may make sense as a hedge against market volatility or as a way to diversify a portfolio. For others, gold’s lack of income generation or inefficiency as a short-term investment could be dealbreakers.
The following sections explore some of the main advantages and disadvantages of investing in gold.
The pros and cons of investing in gold

Pros

As a tangible asset, gold cannot be defaulted on or printed out of thin air. It has intrinsic value and scarcity relative to demand.
Gold has historically been considered a safe-haven asset, meaning its price tends to increase when other markets are volatile or in decline.
Gold can diversify a portfolio and mitigate the risk of loss during economic downturns, as it can move inversely to stocks and bonds.
You can buy and sell gold in many different forms, including physical gold, stock, ETFs, mutual funds and derivatives.

Cons

Investments in gold have been greatly outperformed by stocks and other asset classes over the past several decades.
Although its price has been reasonably stable over longer periods, gold can be highly volatile in the short term.
Precious metals brokers charge markups from gold’s spot price, and investing in physical gold can also be expensive due to recurring storage and insurance costs.

Tips for making gold investments
The following section includes various tips about investing in gold and will help you get the most out of your assets while avoiding pitfalls that can cost you money.
Verify the purity of physical gold before purchasing it
When considering how to buy gold, verify that physical gold is of the proper purity and weight before purchasing it. Checking gold content or fineness is critical when buying gold bullion, coins or jewelry. This is why it’s important to buy precious metals from a reputable dealer. In other cases, you may want to have an independent third party, like a precious metals testing service, assess the purity of the gold.
Understand how gold prices work
Before investing, it is essential to have a working understanding of the numerous factors that can influence gold prices. Events or circumstances that can affect the spot price of gold include economic and geopolitical volatility, central banks’ policies, demand from industrial and investment markets, as well as supply fluctuations. Conducting your research before you buy can help you make informed decisions about the best times to buy or sell gold and gold-backed securities.
Choose an investment strategy
Before purchasing any gold-related investments, decide on an investment strategy. Figure out your time horizon, risk tolerance and whether you want to invest directly in physical gold or through other instruments like stocks and ETFs. If you need assistance, you can get investment advice from a financial advisor.
Note that any profits on gold investments are subject to capital gains tax, which can reduce overall returns. You owe capital gains tax when you sell an investment and make a profit. Short-term capital gains apply to profits realized on investments held for one year or less. These are taxed as ordinary income. Long-term capital gains tax applies if you hold an investment for more than a year and sell it for a profit.
If you choose to invest in physical gold, you’ll pay a higher long-term capital gains tax rate because gold is considered a collectible by the IRS. When you sell physical gold, your capital gains will be taxed at your marginal tax rate up to a maximum of 28%.
Thoroughly research gold mining companies
Conduct thorough research to make an informed decision before investing in the stocks of gold mining and gold streaming companies. This includes reviewing the company’s financial statements and filings with the U.S. Securities and Exchange Commission and other regulatory bodies, researching their management team, history, past performance, market capitalization and trading volume. Additionally, assess any sociopolitical or environmental risks related to their operations, which can be as simple as researching where their mines are located.

Summary of How to Invest in Gold
Gold has long been seen as a valuable asset due to its relative long-term stability and potential to gain value during times of economic or geopolitical uncertainty. However, it isn’t without its risks, including short-term volatility, a lack of income generation and the high cost to store and insure physical gold.
There are many ways to invest in gold, from buying the physical metal and purchasing stocks of companies associated with gold mining and production, to gold-leveraged mutual funds and ETFs. Options and futures contracts let sophisticated investors trade gold, but these derivatives carry substantially higher risk than other securities and aren’t suitable for most retail investors.
To determine what type of gold investments are right for you, consider the purpose of your investment, your risk tolerance and how much of your portfolio you want allocated to gold. Most financial advisors suggest no more than 10%.
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Beginner’s Guide to Investing in Precious Metals

Buying precious metals in a gold individual retirement account (IRA) can help savers diversify their investments and take advantage of the stability and safe-haven status of gold, silver, platinum and palladium. This lesser-known type of IRA — also known as a self-directed IRA (SDIRA) — provides people who are knowledgeable about precious metals investing with a means of adding alternative assets to a retirement account.
In the last 20 years, gold has rewarded long-term investors with strong returns. More recently, the yellow metal has reached all-time highs, increasing the popularity and demand for these types of accounts. Gold is often included in investment portfolios because it’s considered a hedge against inflation and can rise in value during periods of economic uncertainty, stock market volatility and interest rate cuts.
A gold IRA, which can also hold the aforementioned precious metals silver, platinum and palladium, is one way to invest in precious metals while maintaining the tax benefits of a conventional IRA. These types of SDIRAs can hold precious metals, real estate and cryptocurrency — assets there are not included in conventional IRAs. However, be mindful that gold IRAs often carry high fees.
Purchasing physical gold to hold in a retirement account can have some drawbacks compared to investing in equities like stocks, ETFs or mutual funds, so it’s important to understand all of the associated costs before investing in a gold IRA.
A key selling point of these investment products is that you own the physical gold itself. If this doesn’t matter to you, there are other ways to add exposure to precious metals in a retirement account, such as buying stock in gold mining companies or shares of the best gold ETFs.
Even with a long time horizon, gold investors have no guarantee of making money on their investments in gold IRAs — especially if you plan to rely on a gold IRA company’s buyback program to sell your gold if and when you take distributions (SDIRAs can be either traditional or Roth, with traditional accounts carrying required minimum distributions, or RMDs, after age 73).
Going back to 1971, the average annual return for gold is 7.98%, but investors in gold IRAs don’t always realize those gains. When you withdraw from a gold IRA, buyback programs sometimes only pay you the wholesale price of gold, which can be as much as 30% lower than the current spot — or market price — of the metal. This is referred to as “the spread,” and given the costs of buying and selling gold in an IRA, it can take a long time to turn a profit. But investors can pay lower fees by choosing a reputable company for their investments.
Here’s what you need to know about how to buy gold in an IRA:
Table of Contents

3 steps to investing in a gold IRA
How much are gold IRA fees?
Rules, regulations and restrictions to buying gold in an IRA
FAQs about buying gold in an IRA
Bottom line to gold in an IRA

3 steps to investing in a gold IRA
In order to own IRS-approved physical precious metals in a retirement account, you’ll need to open an SDIRA. The following three steps outline the process:
1. Open a self-directed gold IRA
Many major companies offering retirement accounts do not have an option for investing in physical gold through an SDIRA. There are some exceptions, like Fidelity, which has gold IRA investing, but gold IRA investors typically need to open accounts with a company focused on providing this financial product.
By opening this type of SDIRA with a custodian that handles physical precious metals — which a reputable online gold dealer would refer you to — you’ll be able to invest in gold and other precious metal bullion products in the form of bars, ingots, coins and rounds. It is crucial to do your research when choosing which company to use. (You can read about what to look for when selecting a gold IRA company in our guide to the best gold IRA companies.)
To avoid running afoul of tax regulations, gold IRAs need to have an IRS-approved custodian. This trustee/custodian must be a bank or IRS-approved nonbank trustee/custodian, and eligible bullion must be in the physical possession of a bank or IRS-approved nonbank trustee.

The custodian is a financial firm tasked with executing investment activities and administrative duties that are necessary to keep your account in good standing with the IRS, which is crucial to keep its tax-deferred status.

The depository is the secure third-party storage facility for your precious metal products. Storage is provided in either pooled or segregated safekeeping, and the depository must also be in good standing with the IRS in order to maintain tax-deferred status.

Many gold IRA companies have preferred custodians and depositories they either recommend or require customers to use. Alternatively, you can search for a custodian through the Retirement Industry Trust Association website.
2. Fund your gold IRA
There are numerous ways you can fund your gold IRA. You can elect to use one or more of the following:
Rollover
Many people fund their new account using money held in an existing retirement account. IRS rules permit funding a gold IRA with money drawn from another IRA, 401(k), 403(b), 457(b) or Thrift Savings Plan. To initiate the process, contact the administrator of your current retirement plan and tell them how much you want to roll over.
If you are younger than 59.5 years old and using a rollover to fund a gold IRA, you have a maximum of 60 days to get the withdrawn funds into the new account. Missing the 60-day deadline generally makes the distribution taxable and potentially subject to the 10% additional tax, but IRS waiver/self-certification relief may apply in qualifying situations.
Transfer
To avoid the prospect of missing the rollover cutoff, many people choose to let their gold IRA company coordinate the rollover via a direct institution-to-institution transfer. Since the money never technically passes through your hands, you don’t have to worry about taxes or penalties being assessed.
Cash contribution
You normally don’t want to fund a gold IRA with cash because you will have already paid taxes on that money, and the point of using an IRA as your investment vehicle is to capture the tax advantage that comes with using pre-tax dollars. The exception here is the gold Roth IRA option, which investors fund with after-tax dollars.
3. Decide how much to invest
One important consideration for both IRA rollovers and transfers is to determine how much you want to funnel into your new account.
Keep in mind that most conventional IRAs give you the ability to build a diversified retirement portfolio. An IRA holding nothing but precious metals is, by definition, not diversified, because precious metals comprise a single asset class.
The conventional wisdom is that you should limit your total alternative assets investments, including precious metals, to about 5% to 10% of your overall portfolio to achieve appropriate diversification. That said, you’ll have to meet the minimum investment requirement for your gold IRA, which could be as low as $1,000 or as high as $50,000.
The custodian charges a fixed annual fee (e.g., $225 for account maintenance and storage) whether you invest $1,000 for $1 million. Therefore, the lower amount you invest, the higher the percentage of your investment that fee accounts for. It is suggested to consider investing at least $25,000 or more.
If you have a relatively small investment portfolio, high account minimums could require you to invest more than what financial advisors generally recommend you put in gold, which could expose your nest egg to too much risk.
How much are gold IRA fees?
Having ownership of physical precious metals is the key selling point with these accounts, but storing and insuring precious metals isn’t cheap and it comes with a marginal cost that increases over time as your investment increases.
Unfortunately, most gold IRA companies aren’t transparent about fees on their websites, so finding the details might entail a phone call. Common fees include account setup and maintenance, storage and insurance. You will also be charged a markup — which varies based on the company and the type of item — when you buy your precious metals. There can also be shipping fees if you choose to have gold sent to your home when you withdraw from the account.
Beware of companies that claim they don’t charge fees for account maintenance or storage and insurance. While this might technically be true, that doesn’t mean you won’t pay them in some way. Annual fees usually come from the account custodian, and storage and insurance fees are more often owed to the depository rather than the gold IRA company.
Also, beware of companies that provide claims of offering free metals. Oftentimes, these gold dealers bake in an additional spread to cover the assumed costs so-called “free metals.”
In general, gold IRAs tend to have higher fees than conventional IRAs. If you just want to purchase gold or silver for self-storage, understand that it is ineligible for a gold IRA. Or, if you have a conventional retirement account and want to add exposure to gold, read here about how to buy shares of a gold ETF — an exchange-traded fund that tracks the performance of gold or gold mining companies.
Rules, regulations and restrictions to buying gold in an IRA
When it comes to gold IRAs, knowing the basic rules and regulations about what the IRS does — and doesn’t — permit can save you from making a potentially expensive mistake with your retirement nest egg.
Must invest in IRA-approved metals
You can hold coins or bullion in a precious metals IRA. Despite the colloquial term “gold IRA,” you can also hold silver, platinum and palladium in this account.
If you’re wondering what “IRA-approved” gold is, be aware that there are minimum requirements for metal fineness, purity and specifications about the type, size and weight. Regarding IRS-approved purity:

Gold must be 99.5% pure (certain coins —including specified U.S.-mint coins like Gold Eagles— are exceptions and can be IRA-eligible even below 99.5% purity.)
Silver must be 99.9% pure.
Platinum and palladium each must be 99.95% pure.

According to STRATA Trust Company, one of the major gold IRA custodians, in order to be held in a gold IRA, precious metals must be certified or accredited by a national government mint or one of the following precious metals authorities: NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM or ISO 9000.
Two of the most commonly used types of IRA-approved gold are American Eagle proof coins and bullion, and Canadian Maple Leaf coins.
Age and retirement limitations
Self-directed individual retirement accounts, including gold IRAs, have the same contribution limits and age-based distribution limits as conventional IRAs. For 2026, the IRA contribution limit is $7,500 ($8,600 if age 50 or older).
Taxes
If you withdraw gold from your IRA before you reach the age of 59.5, you will be assessed income tax on the value of that gold as well as a 10% penalty for taking an early withdrawal from a retirement account.
Gold IRA withdrawal
If you opt for a traditional gold IRA, like a traditional IRA, you will have to begin taking RMDs at the age of 73. To avoid this, you can find a gold IRA company that offers a Roth gold IRA, which has the same tax treatment as a conventional Roth IRA, wherein investors use after-tax dollars for purchases, aren’t required to take RMDs and aren’t taxed on gains or qualified distributions.
If you’re looking to access the value of the holdings in a traditional gold IRA, you will be required to take distributions from your gold IRA in one of two ways:

An “in-kind” distribution means you have your gold shipped to you. Note that you will have to pay for shipping and insurance. A key distinction of an “in-kind” distribution is that you are not forced to sell or exit the position and in doing so, you can decide what to do with it and how and when to sell it.
The other option is liquidating your gold and having the gold IRA company send you the funds. While most IRA companies will buy back gold and other precious metals, be aware that the price at which they purchase gold is lower than the price at which they sell gold due to the aforementioned spread.

Gold in an IRA FAQs
What is a gold IRA account?
A gold IRA is a type of self-directed individual retirement account. Along with gold, many people also hold silver, platinum and palladium in gold IRAs.
Self-directed accounts often have higher fees than other types of retirement savings accounts. because of the additional layers of oversight and administrative work necessary. These fees can erode your returns, so have a good understanding of how much it will cost before opening a precious metals IRA.
How to own gold in an IRA?
Gold IRA companies, which are essentially precious metals dealers, will facilitate the creation of a self-directed IRA in which you can legally hold gold and other precious metals. Gold IRA companies can steer you toward IRS-approved account custodians and depositories where your gold will be physically stored. Your gold must be stored in one of these depositories — not at your home or in a safe deposit box.
If you don’t want to hold physical metals, there are other ways to get gold in your investment portfolio, including gold ETFs or the stocks of gold mining companies.
What is IRA-eligible gold?
Since most gold coins are minted specifically to be collectibles, there are very precise regulatory requirements that define which precious metal items are suitable for investing. You can see more of the IRS’s detailed requirements on size, weight and metal purity that govern which kinds of coins and bullion can be held in a gold IRA. The aim of these precise requirements is to ensure that people are keeping investment-grade assets in their accounts, rather than collectibles.

Bottom line to gold in an IRA
A gold IRA is an alternative investment option for retirement savers who want to own gold as a hedge against inflation or to diversify their assets beyond the stock market. You may want to learn how to buy gold in an IRA if you want to own physical gold rather than shares of equities — e.g., stocks, mutual funds or ETFs leveraged to gold. However, gold IRA investing can involve high fees and other risks, so it’s not recommended for most people.
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Payments in a $425 million Capital One class-action settlement could be delayed by a year or more due to an appeal seeking to rescind the settlement, meaning more than 5 million class members will have to keep waiting for their checks.
The distribution of payments was expected to begin this week. Instead, the Capital One settlement administrator shared the update that an objector is appealing the settlement in hopes of returning the matter to litigation.

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“As a result of the appeal, any payments to class members from the settlement fund or in the form of increased interest as provided by the settlement will be substantially delayed (potentially over one year),” the settlement website reads.
Appeals are common in large class-action settlements — and most end up failing — but they’re often the culprit when payouts take longer than consumers expect.
360 Savings lawsuit: Why Capital One was sued
Multiple lawsuits alleged that Capital One paid lower annual percentage yields (APYs) on 360 Savings accounts once it launched 360 Performance Savings accounts in September 2019.
APYs on the Performance Savings accounts have been higher ever since. Aside from the rates, the lawsuit alleged the two accounts are “otherwise identical,” according to the settlement website. At launch, the new accounts paid a 1.9% APY, while the older accounts paid 1%.
The gap widened as the Federal Reserve hiked interest rates in 2022 and 2023. From April 2024 to September 2024, 360 Performance Savings paid 4.35% while 360 Savings paid 0.3%, according to the settlement website.
By June 2024, at least six lawsuits had been filed in California, New Jersey, New York, Ohio and Virginia arguing Capital One underpaid interest to 360 Savings customers. That’s when the proceedings were consolidated in the U.S. District Court for the Eastern District of Virginia.

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Capital One continues to deny wrongdoing but agreed to settle. A judge granted final approval of the Capital One 360 Savings Account Interest Rate Litigation settlement on April 20.
In addition to the $425 million settlement fund, Capital One has agreed to match the 360 Performance savings rate on 360 Savings accounts and continue offering both products for at least two years.
In total, the value of the settlement is estimated by a special master to be just over $1 billion.
After fees, costs and service awards are subtracted, the fund will be divided based on “the approximate amount of interest each Settlement Class Member would have earned if their 360 Savings account(s) had paid the interest rate then applicable to the 360 Performance Savings account,” according to the settlement website. The biggest beneficiaries will be people who had large savings balances. Individual estimates are not available.
Customers are likely included in the class if they had a 360 Savings account at any point between Sept. 18, 2019 and June 16, 2025.
The Capital One settlement appeal
On June 17, a Capital One customer initiated an appeal, arguing that the settlement falls short by hundreds of millions of dollars. The notice of appeal was filed by lawyer Michelle Coles, who is representing herself and posted a $25,000 appeal bond. Coles was an attorney at the Department of Justice in the Civil Rights Division until 2022; she is an active member of the Washington, D.C., bar.
In an earlier filing, Coles and other objectors argued that “Capital One and class counsel have reached an agreement to settle this litigation worth as much as $9 billion for a mere $425 million.”
The legal arguments are complicated, but it boils down to a disagreement over math and how much customers are owed. The settlement website states that the $425 million fund represents around 38% to 57% of what class members could have recovered at trial. Coles argues it’s actually no more than about 15%.
“That means they’re keeping 85% of our damages,” she tells Money. “If they’re paying us $425 million, that means they’re keeping $2.5 billion dollars of the interest that they owe us.”
Coles said her 360 Savings balance averaged around $70,000 during the class period and initially believed she was owed roughly $10,000, according to court filings. Coles presented her objections during the April 20 settlement hearing, which is documented in a court transcript.
Referencing her time at the Justice Department, Judge David Novak said: “You understand that in any litigation, it’s a risk/reward. You have to look at what is the likelihood of success versus what is your outcome, right. It’s kind of like the old Rolling Stones song, ‘you don’t always get what you want, but you get what you need,’” according to the transcript.
That remark from Novak “felt like it was a slap in the face because all the settlement agreement does is it rewards Capital One for its fraud,” she tells Money.
During the April 20 hearing, Novak continued: “I don’t agree with what Capital One has done here. I think what they did is wrong, which is why they’re writing such a big check.”
But, he said, “You have to look at what the risk of litigation is for the plaintiffs against the reward, which is what the class counsel has done here.”
Novak approved the settlement and set the appeal bond at $25,000 — not the $6 million amount that had been requested by the class counsel. Coles says others wanted to appeal, but she was the only one willing to pay the bond.
The lawyers for the settlement class view the appeal as “meritless” and continue to believe “the settlement is overwhelmingly favorable to the class,” according to the settlement website.
What to do if you’re waiting on a Capital One settlement payment
If you’re in the the settlement class, this is an exercise in patience. There’s nothing you actually have to do now. Unlike many settlements, this one did not require a claim form; qualification was automatic. Eligible Capital One customers had until March 30 to elect their payment method.
Coles says she expects to file her appeal documents around September, but the U.S. Court of Appeals for the Fourth Circuit has yet to establish the briefing schedule.
Asked how it feels to be in between 5 million people and their money, Coles says class members have been “deceived” into thinking the $425 million agreement is fair. She adds that she thinks it’s worth waiting more time to make sure the appropriate payments are awarded.
“I am acting in the class’s interest,” Coles says. “We’ve already been waiting six years for Capital One to pay us the interest that they owe us.”

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Amazon Prime customers have just days left to claim up to $51 from the company’s $2.5 billion settlement with the Federal Trade Commission, or FTC.
The deadline to submit a claim is Monday. While many eligible customers automatically received refunds last year, the FTC estimates 35 million customers were affected by Amazon’s Prime enrollment and cancellation practices, and some who didn’t receive automatic payments may still be eligible for a refund.

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The FTC accused Amazon in 2023 of enrolling tens of millions of customers into Prime through what its chairman called “sophisticated subscription traps designed to manipulate consumers” and then made it difficult to cancel once signed up. Although Amazon has denied any wrongdoing, it agreed to pay $1 billion in fines plus $1.5 billion in customer refunds — and to simplify its cancellation policy.
The payout marks the FTC’s largest settlement ever and the second-largest consumer refund in history. (The largest was the Consumer Financial Protection Bureau’s distribution of $1.8 billion to consumers harmed by credit repair companies.)
So who can still get paid, and what do you need to do before the July 27 deadline? Here’s what you need to know.
Who’s eligible for the Amazon Prime settlement?
To qualify for a refund, you must have signed up for Amazon Prime in the U.S. between June 23, 2019, and June 23, 2025. You may also be eligible if you attempted — but were unable — to cancel your Prime subscription during that window.
In other words, both enrollment and any failed cancellation attempts must have occurred within that same time period.
If you received an automatic refund, you don’t need to take any additional action.
For those who are eligible to file a claim, the claims process opened in January. Eligible customers should have received a notice by email or mail with instructions on how to submit a claim form.
If you received a claim notice, you can file online using your Claim ID and PIN through the official settlement website, or follow the instructions provided in your notice.

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How much money will I get?
Most eligible customers will receive up to $51 in refunds.
Amazon was required to distribute automatic payments within 90 days of the FTC’s order, which meant those refunds were issued by Dec. 24, 2025. Those automatic payments went first to customers who used three or fewer Prime benefits within a year of signing up through certain Amazon pages, according to the FTC’s ruling.
Customers who did not receive an automatic refund but received a claim notice either by email or in the mail may still be eligible for up to $51 if they submit a valid claim before Monday’s deadline.
If the total settlement funds aren’t enough to refund all affected Prime customers, Amazon will distribute refunds on a pro rata basis. This means some customers may receive less than the maximum $51 — aka less than what they originally paid.
How do I claim money from the Amazon Prime settlement?
If you received an automatic refund, you don’t need to take any additional action.
For those who are eligible to file a claim, the claims process opened on Jan. 5. Eligible customers should have received a notice by email or mail with instructions on how to submit a claim form.
If you received a claim notice, you have 180 days from the date of notice to submit your claim. You can file online using your Claim ID and PIN through the official settlement website or follow the instructions provided in your notice.
How will payments be issued?
Settlement payments will be sent either through PayPal or Venmo, or by mailed check. You can select your preferred payment method when submitting your claim form.
The FTC also warns that eligible customers will never be asked to pay a fee or provide their Social Security number, Amazon account password or login information to receive a settlement payment.
When is the deadline to file a claim in the Amazon Prime settlement?
You have until Monday to submit a claim for a potential refund.

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Getting a raise is ideally supposed to make your budget a little less tight. But for many workers, any extra income gets quickly swallowed up by rent, grocery bills, insurance premiums and other everyday expenses that have climbed sharply the past few years.
In a new survey from job search site Monster, 93% of workers say their wages haven’t kept up with the cost of living. Although inflation has cooled since its 2022 peak, prices remain well above where they were before the pandemic, leaving workers to feel like a raise really isn’t a raise.

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Feeling financially squeezed has consequences beyond monthly budgets. For many workers, it’s reshaping how they save, spend and even make career decisions.
Nearly 85% of workers surveyed say they’ve withdrawn money from their savings to cover everyday expenses, according to Monster, including 42% who say they’ve used a significant portion of what they set aside. That savings cushion can be especially important for households with little room in their budget. Almost a quarter of U.S. households are estimated to live paycheck to paycheck, and tapping those funds can make it harder to handle the next unexpected expense.
People are also making other tradeoffs to balance tight budgets. About 60% say they’ve cut back on nonessential spending, 38% report relying more than before on credit cards or loans, and 34% have reduced their retirement contributions. While those moves can help free up cash in the short term, they can also make it harder to reach longer-term financial goals like paying down debt or saving for retirement.
After a raise, “many workers see a larger paycheck, but what ultimately matters is purchasing power,” economist Scott Beaulier tells Money. “If housing, insurance, groceries, childcare and other necessities have increased faster than wages, people can legitimately feel like they’re falling behind despite earning more.”
Economists define purchasing power as how much your income can actually buy. Beaulier says people tend to notice increases in recurring bills more than occasional purchases.
“Those are the expenses people encounter every month, so they shape perceptions of financial well-being,” he adds.
How to stretch your paycheck when costs keep rising
Making a paycheck go further isn’t just about spending less — it’s about being strategic with whatever money is coming in. Financial experts say that often means looking beyond small spending cuts and focusing on the expenses that have the greatest effect on your budget.
Start with your biggest expense
When money feels tight, it can be tempting to focus on minor purchases you can eliminate. But cutting a couple bucks here and there may not make much of a difference if your large monthly bills continue to go up.
“People often spend a great deal of energy trying to save a few dollars on coffee while overlooking much larger opportunities to refinance debt, shop insurance policies, renegotiate internet or cell phone plans, or rethink vehicle and housing costs,” Beaulier says. “The old idiom ‘penny wise and pound foolish’ is quite real when it comes to our personal finances.”
That doesn’t mean small savings don’t matter. But reviewing your largest recurring expense can often create more room in your budget. From there, move on to the smaller, routine expenses that repeat every month. Is there a streaming subscription you don’t use anymore that you can cancel? Did your internet bill go up and you didn’t even realize? Is it finally time to kick your adult child off the phone plan?
A few dollars saved here and there won’t completely fix a gap between income and rising costs, but making consistent changes to recurring expenses can give your paycheck more room to work.

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Take advantage of benefits you’re already earning
Your paycheck is only one part of your total compensation package. Employer benefits can help lower costs or free up money in your budget, but many workers don’t take full advantage of what’s available. For example, 72% of private-sector workers had access to an employer-sponsored retirement plan in 2025, but only 53% participated.
Start by reviewing what your employer offers, including retirement plans, health savings accounts (HSAs), flexible spending accounts (FSAs), commuter benefits, tuition assistance and other workplace perks. For example, if your employer offers child care subsidies, it could help offset one of your biggest monthly bills. Commuter benefits can reduce what you spend getting to and from work, while free or subsidized meals at the office can lower your food costs.
These benefits can be especially valuable when everyday costs are rising and you don’t feel like you have enough room to save. Taking advantage of tax-advantaged accounts and other employer-sponsored benefits can reduce out-of-pocket expenses and help stretch your overall salary — even if your paycheck hasn’t grown as much as you’d hoped.
Invest in yourself
Once you’ve optimized your recurring bills and eliminated unnecessary expenses, the next step may be looking for ways to grow your income.
“Every budget has a floor,” Beaulier says. “There is only so much you can realistically cut before reductions begin to affect your quality of life.”
According to the Bureau of Labor Statistics, about 5.2% of employed Americans held more than one job in June, underscoring how many workers are looking beyond their primary paycheck to keep up. But earning more doesn’t always have to mean simply adding another job.
“One overlooked strategy is investing in your own human capital,” he says. “Learning a new skill, earning a certification or developing expertise in an area that’s in demand can produce returns that far exceed what you can save through coupon clipping or minor budget adjustments.”
The idea is to focus not only on reducing expenses but also on your ability to earn more over time. A new skill or credential on your resume won’t necessarily lead to an immediate raise, but building expertise in areas employers value can create more opportunities for career growth and higher pay.

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Key Takeaways

Most pet insurance covers unexpected accidents and illnesses, including surgery, medications, diagnostic tests and emergency care.
Accident and illness plans provide the broadest coverage, though pre-existing conditions and some hereditary conditions may be excluded.
Accident-only plans cover injuries, but not illnesses or routine care.

Pet insurance can help offset expensive vet bills, but it doesn’t cover everything.
Navigating the fine print can be a major hurdle, and may explain why so few pet owners see it as a must-have, even as pet care costs climb.
A new study by Money and Healthy Paws Pet Insurance found that a vet bill below $1,000 would trigger “significant stress” for about half of pet owners, and one in five would feel financial strain by any amount. Yet only about 4% of U.S. cats and dogs are insured, according to the latest data from the North American Pet Health Insurance Association (NAPHIA).
Still, the industry is growing rapidly, and there are more options available than ever. Here’s a breakdown of what’s typically covered, what’s not, and how to choose the right fit for your pet.

What’s covered under pet insurance?
Most pet insurance plans are designed to help pay for unexpected vet bills related to accidents, injuries and illnesses. Costs for surgery, medication, X-rays, blood work and emergency care are typically included.
That said, coverage isn’t guaranteed for every vet bill. Insurers may deny a claim if they can establish a connection between the injury and the owner’s negligence. Certain illnesses may also be excluded if the animal hasn’t received proper preventative care.
Here’s a breakdown of the injuries and illnesses most pet insurance providers will cover:

Accidental injuries

Illnesses

Broken bones

Cancer

Food poisoning

Diabetes

Gastric bloat

Allergies

Trauma

Hip dysplasia

Bite wounds

Eye and ear infections

Torn ligaments

Inflammatory bowel disease

Swallowed foreign objects

Arthritis

Fractured teeth

Gum disease

What doesn’t pet insurance cover?
Coverage varies by insurer, but most pet insurance plans don’t cover:
Pre-existing conditions
Pre-existing conditions, or health issues your pet had (or, in some cases, showed symptoms of) before coverage began typically aren’t covered. This exclusion also applies to new medical complications that can be linked to a pre-existing issue.
Some conditions — infections, allergic reactions and stomach bugs, for example — may eventually be covered, provided your pet is symptom-free and deemed to be cured for a certain length of time (often 180 days). Every insurer has a different definition of what constitutes a curable pre-existing condition, so make sure to dig into the details before you buy a policy.
Routine and preventative care
Most standard pet insurance plans don’t cover elective procedures like grooming and nail trimming, or routine care like vaccinations and teeth cleaning.
Owner-caused injuries and neglect
Pet insurance won’t cover injuries or illnesses that result from the owner’s own actions, such as intentionally harming a pet or subjecting them to organized fighting or racing.
Veterinary bills related to breeding or breeding-related complications are also generally excluded from standard pet insurance policies.
What are the different types of pet insurance?
Most pet insurance companies offer two coverage options: accident-only and accident and illness coverage. Some companies also sell wellness add-ons, but these plans typically cover routine care and aren’t considered pet insurance.
1. Accident and illness plans
Accident and illness plans (also called “comprehensive policies”) cover a wide range of illnesses, from minor issues like vomiting and diarrhea — even if the cause is unknown — to serious conditions like cancer.
Covered services typically include diagnostic testing (X-rays, MRIs and blood work), hospital stays, surgery, medications, chemotherapy and alternative therapies (acupuncture, laser and stem cell treatment.)
Coverage for cancer and specialty care is standard with most accident and illness plans. Here are a few other conditions these policies typically cover:

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Dogs

Cats

Arthritis

Skin allergies

Inflammatory bowel disease

Hip dysplasia

Hyperthyroidism

Elbow dysplasia

Diabetes mellitus

Hypothyroidism

Hip dysplasia

Type II diabetes

Cruciate ligament injuries

Congenital eye defects

Hepatitis

Polycystic kidney disease

Coverage limits and restrictions
Like other medical conditions, hereditary and congenital conditions are generally covered only if they’re first diagnosed after your policy takes effect. If a pet showed signs of one of these conditions before enrollment, insurers usually classify it as pre-existing and exclude it from coverage.
Some pet insurance policies only cover specific conditions after a waiting period has elapsed. A policy may only cover surgery for hip dysplasia if the condition is diagnosed at least six months after the policy takes effect, for example.
Age-based restrictions can apply as well. Treatment for congenital or hereditary dental issues may be excluded if you enroll a pet that’s already one year old, and hip dysplasia is often excluded from coverage if the pet is six years or older at the time of enrollment.
2. Accident-only plans
As the name suggests, accident-only policies reimburse treatment for injuries caused by accidents. The scope of coverage is narrow compared to comprehensive plans but premiums are more affordable, you can enroll senior pets, and waiting periods are typically shorter. Unlike the usual two-week waiting period for accident and illness plans, accident-only plans are often ready to use within 24 hours.
Still, your initial rate may be influenced by how accident-prone your pet’s breed is. Labrador retrievers, for instance, often have higher premiums because they’re known for swallowing things they shouldn’t.
Here’s a quick look at what accident-only coverage typically reimburses — and what it usually doesn’t:

Varo Cash Advance Fees

Covered

May not be covered

Motor-vehicle accidents

Poisoning that’s caused by owner’s negligence

Ingesting foreign bodies

Intentional harm to the animal

Sprains and lacerations

Injuries in organized fights or races

Broken bones

Issues diagnosed as illnesses by the vet

Accidental, unavoidable poisoning

Injured working animals (herding dogs, service animals, etc.)

Diagnostic MRIs and X-rays

Organ transplants

3. Wellness plans
Wellness coverage, sometimes called preventative care coverage, helps cover the cost of routine veterinary care and, in some cases, grooming, training and other services. This plan is usually offered as an add-on or “rider” to an accident and illness policy, though some insurers, animal hospitals and pet care stores offer it as a standalone plan.
In addition to wellness riders, pet insurers add-ons for things like end-of-life expenses, lost or stolen pet recovery, pet boarding while the owner is hospitalized and liability coverage. Some insurance companies bundle these with wellness coverage, while others sell them separately.

Covered

May not be covered

Dental exam and cleaning

Pregnancy or other breeding/whelping expenses

Wellness exams

Routine anal gland expression

Vaccination

Grooming

Flea/tick and heartworm preventatives

Euthanasia

Microchipping

Behavioral evaluation

Spay/neutering surgery

Training

Comparing pet insurance plans
The list below, while not exhaustive, can help you compare the benefits of each pet care plan and guide your choice.

Accident and illness

Accident-only

 Wellness plan

Hospitalization

?

?

?

Surgery

?

?

?

Cancer treatment

?

?

?

Bite wounds and fractures

?

?

?

Prescription medication

?

?

?

Tooth extractions

?

?

?

Hip dysplasia and CCL tears

?

?

?

Allergies and ear infections

?

?

?

Vaccinations

?

?

?

Spaying and neutering

?

?

?

Grooming

?

?

?

Dental cleaning

?

?

?

Pet Insurance Coverage FAQs
Is pet insurance worth it?
Pet insurance tends to be most valuable if your pet develops a serious, long-term condition — like cancer — or experiences a catastrophic accident that requires major surgery. And even if financial payoff is unlikely, insurance can still provide peace of mind for pet owners who want to do everything possible for their pet’s health, regardless of age or severity of illness.
How much does pet insurance cost?
The average monthly rate for an accident and illness plan is $62 for dogs and $32 for cats, according to the North American Pet Insurance Association (NAPHIA).
That said, your insurance quote may be higher than the average rates if your pet is older, predisposed to chronic conditions or live in an area where pet care is expensive.
Does pet insurance cover spaying?
Standard accident and illness policies don’t cover spaying. This procedure is reimbursable only through a preventive care package, which typically caps the payout between $100 to $200. In areas with high vet costs, you may pay part of the bill out of pocket.
Does pet insurance cover dental care?
Most insurers cover surgical extractions if the tooth is damaged in an injury or accident. Though rare, some insurers also cover dental cleanings if the service is part of the treatment plan for a covered illness.
Other dental services like cleanings and root canals are considered preventive care and are not covered by standard plans.

Some federal student loan borrowers could soon see their monthly payments jump by hundreds of dollars after years of paying little — or nothing at all.
Millions of borrowers are now starting a 90-day countdown to choose a new repayment plan as the Saving on a Valuable Education (SAVE) plan comes to an end. Notices explaining the transition are being sent out in waves, giving borrowers three months from the date they receive one to select a new option.
For some, the biggest surprise might not be that SAVE has been discontinued — the plan has been on the chopping block for years, after all — but the size of the payment they’re now expected to make. Because the pandemic-era payment pause was followed by years of administrative forbearance while lawsuits challenging SAVE played out, it’s possible some SAVE borrowers haven’t made regular payments on their student debt in more than six years.

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However, a higher monthly bill doesn’t necessarily mean you’re out of options. Experts say the most important step is to act before the 90-day deadline rather than assume you’ll automatically be placed into the repayment plan that’s best for your financial situation.
Before anything else, compare your repayment options
If you’re expecting your monthly payment will increase because of what you’ve read in the news or heard other borrowers talk about, the first step is to take the time to research your individual situation.
The easiest way to review your options is by using Federal Student Aid’s repayment calculator. The tool estimates your monthly payment under each available repayment plan based on information like your income, loan balance and family size.
The repayment calculator can also help you determine which plans you’re eligible for. Eligibility varies based on your loan type and when you borrowed, and not every borrower will qualify for every repayment option.
Before deciding a payment is unaffordable, make sure it’s being calculated using the most accurate information. For example, if your income has fallen since you last filed a tax return, you may be able to recalculate your payment using more recent documentation, such as a pay stub.
While it’s smart to start researching your options now, you don’t need to rush into a decision. Once you receive notice from your student loan servicer, you’ll have 90 days to select a new repayment plan.
Stanley Tate, a lawyer who specializes in student loans, says borrowers should use that time to understand their options.
“Borrowers assume they have to make a decision right now, and they don’t,” Tate says. “It’s important to use that window strategically. You want to make sure you know what plan you’re switching into and what your estimated payment will be, [and] you may need to use that time to prepare your budget.”
That advice does not mean you can drag your feet and ignore the fact that your repayment plan is changing, though.

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“You can’t just do nothing in this time span, and assume [the Department of Education] will put you in the best repayment plan,” says Megan Walter, senior policy analyst at the National Association of Student Financial Aid Administrators (NASFAA). “If you don’t make a decision, ED will place you into one of the standard plans, regardless of your eligibility for an income-driven repayment plan.”
If you’re concerned about affording your payments, that’s the last thing you want: The standard plan is often the most expensive one because it’s designed to pay off the loan over a shorter period.
If your payment is too high, here are your options
If updating your information still leaves you with a payment you can’t comfortably afford, there are a few options that could help:
Consider an extended or graduated repayment plan
If you can’t comfortably afford the payment amount under your income-driven options, an extended or graduated repayment plan may help lower your monthly bill by stretching repayment over a longer period.
Extended repayment is only available to borrowers with more than $30,000 in outstanding federal student loans. While spreading payments out can make them easier to manage, it also increases the amount you’ll pay in interest. According to Jennifer Finetti, director of student advocacy at ScholarshipOwl, borrowers on an extended repayment plan may ultimately repay “double or triple” what they originally borrowed. These plans also generally don’t qualify for Public Service Loan Forgiveness (PSLF) or time-based forgiveness.
Graduated repayment works a bit differently. Rather than simply extending the repayment period, it starts borrowers with lower monthly payments that increase every two years. That can make your payments more affordable upfront, particularly for recent grads or borrowers experiencing temporary financial hardship, according to Finetti. However, borrowers should be prepared for future payment increases, plus delaying principal repayment typically means paying more interest over the life of the loan. Like extended repayment, months spent in graduated repayment don’t count toward loan forgiveness.
Before you choose to pursue an extended or graduated plan, be sure you’re weighing all the pros and cons for your individual situation.
“If you’re working toward IDR forgiveness and you’re close, you may decide to keep paying even though it costs more in the short term,” Tate says. “If you truly can’t afford the payment, then you need to explore forbearance, deferment, or extended and graduated plans — but you should understand what that costs you.”
Consider temporary forbearance
If you’re dealing with a sudden financial setback or need time to adjust your budget, requesting forbearance from your loan servicer may provide temporary relief.
Unlike switching repayment plans, however, forbearance doesn’t solve the underlying affordability problem. It only pauses your required payments for a period of time.
Experts caution against relying on forbearance for extended periods of time.
“It’s appropriate as a short bridge, a few weeks to a couple of months, while paperwork is processed or a temporary income disruption resolves,” Walter says. “It can become a mistake when borrowers are able to make payments but instead use [forbearance] as a long-term substitute”. That’s because time spent in forbearance doesn’t count toward forgiveness credit and interest generally continues to accrue.
Look at your entire budget — not just your loan payment
Figuring out what your new monthly payment amount is only half the battle. The next step is determining whether it realistically works alongside your rent or mortgage, groceries and other debts and financial obligations.
“Some might say that SAVE borrowers should feel fortunate that they haven’t had to make payments for the last few years,” says Finetti. “But one thing all student loan borrowers know is that there is really no escaping the debt.”
For some borrowers, the new payment will create genuine financial hardship. For others, the biggest challenge may be what experts call “payment shock,” which Walters describes as the psychological and budgeting adjustment that comes with going from little or no monthly payment to a much larger one. And in many cases, the two may overlap. In a recent Federal Reserve survey, 23% of U.S. adults with student loans said they had difficulty making their payments.
“A good share of what looks like an affordability crisis may actually be payment shock,” she says. “The way to tell the difference is by running the actual numbers.
Walter adds that if the payment fits within a reasonable share of your discretionary income after adjusting your budget, the challenge may be one of readjustment. But if the payment still doesn’t work even after cutting back on expenses, that’s a sign it’s time to revisit your repayment options or explore hardship programs.
If that’s the case, the goal is to avoid falling behind while you figure out your next move. Finetti recommends contacting your loan servicer for help understanding your options or considering a nonprofit credit counseling agency that can help you create a budget that incorporates your student loan payment.
The key, she says, is not to ignore the problem and hope it goes away. Borrowers who take action early have more options than those who wait until they’re already delinquent.

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A 529 plan can be a great tool for funding an education, but some parents realize they put too much into this account after a child receives a scholarship or expenses aren’t as high as expected. That money can now be used for another savings goal.
A rule from the SECURE 2.0 Act passed in 2022 lets some families roll their 529 plan funds into a Roth individual retirement account (IRA) in the name of the 529 plan’s beneficiary.

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How the 529-to-Roth IRA rollover rule works
This rollover rule lets you move up to $35,000 from a 529 plan to a Roth IRA for the intended beneficiary of the plan. The annual limit is $7,500 in 2026 for those under age 50 so if you want to roll over the full $35,000, you’ll have to spread the roll overs out over several years. But the beneficiary has to have earned income at least equal to the amount you roll over.
Typically non-qualified withdrawals from the earnings portion of a 529 will incur a 10% penalty and generate taxable income, but this arrangement lets eligible families avoid the 10% penalty and taxes that would normally apply. High earners are allowed to use this strategy even if they wouldn’t normally be eligible for a Roth IRA.

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The restrictions families need to know before moving money
The 529-to-Roth IRA rollover isn’t for everyone. An important requirement is that your 529 plan must have been open for at least 15 years. You also cannot roll over contributions or earnings on contributions that were made in the past five years.
Another restriction is that the rollover must be direct. Funds move straight from your 529 plan to the beneficiary’s Roth IRA. There is no option for an indirect rollover that moves the funds from a 529 plan to your bank account before you put them in a Roth IRA.
Keep in mind that the money you roll over to a beneficiary’s Roth IRA will count toward that beneficiary’s annual IRA contribution limits. If you roll over $7,500 into your child’s Roth IRA for tax year 2026, your child cannot contribute more to their IRA this year.
When this move does and doesn’t make sense
This rollover strategy can make the most sense if all of your children have graduated from college and you are left with a large amount of money in a 529 plan that you aren’t sure what to do with. You can use this plan to max out your child’s Roth IRA, which offers tax-free growth for decades and may free them up to invest more of their money in an employer’s 401(k) or a brokerage account.
Consider speaking with a financial planner or tax professional to discuss your options and see if you are eligible for favorable tax treatment. This option is meant to dispel a common fear parents have about saving too much for college, not for people to overfund a 529 plan just because of a potential conversion to a Roth IRA later down the road.

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Freddie Mac’s average rate for a 30-year, fixed-rate mortgage increased to 6.55%, its highest level since the end of May. Despite rising rates, increased housing supply and stable home prices mean homebuying conditions are slowly improving.

Key Takeaways
Freddie Mac’s average rate for a 30-year, fixed-rate loan inched up to 6.58% for the week ending July 23.

Freddie Mac finds that one additional rate quote saves borrowers about $600 over the loan’s life, up to $1,200 with three.
Discount points cost 1% of the loan to cut the rate 0.25%, while closing costs typically run 2% to 5% of the mortgage.

Mortgage rate trends
Mortgage rates ticked higher for the second week in a row. Renewed tension in the Middle East is pushing oil and gas prices up and raising concerns about the potential for higher inflation in the coming months. Yields on the 10-year Treasury note are also rising, pushing mortgage rates up as well.
In emailed comments, Zillow Home Loans’ senior economist Kara Ng says that prospective buyers still have a bit of tailwind this year because mortgage rates remain lower than they were a year ago. However, other challenges could affect buyers.
“Beyond raising inflation risk and borrowing costs, higher gas prices have the unintended effect of eating away at household budgets, making it harder to save for a down payment and dampening willingness to take on long-term financial commitments like buying a home,” Ng says.
Freddie Mac’s mortgage rates for the week ending July 23, 2026
Freddie Mac mortgage rate trends

For its weekly rate analysis, Freddie Mac reviews rates offered for the week ending each Thursday. The average rate reflects what a borrower with strong credit and a 20% down payment can expect to obtain when applying for a mortgage at this time. Borrowers with lower credit scores will generally be offered higher rates.
If you’re offered a higher rate than expected, ask why and compare offers from multiple lenders. (Money’s list of the Best Mortgage Lenders is a good place to start. Homeowners considering a mortgage refinance should consider our list of the Best Mortgage Refinance Companies.)
Use Money’s mortgage calculator to estimate your monthly payment, considering different rate scenarios.

What you need to know about current mortgage rates
Mortgage rates, along with home prices, are key components of the formula for homeownership. Most importantly, they can help determine how much home you can afford. This guide addresses some of the most frequently asked questions about rates and their impact on the housing market.
Types of mortgage rates
When shopping for a mortgage, you may be offered two types, each with a different interest-rate arrangement: fixed-rate and adjustable-rate loans. Understanding the differences between the two is important when deciding which best suits your needs.
Fixed-rate mortgages
As the name implies, fixed-rate loans have a fixed interest rate that remains constant throughout the loan term. The most common term lengths are 30 and 15 years; however, some lenders offer additional options. Generally, the interest rate on a 30-year loan will be higher than that on a 15-year loan, but the monthly payment will be lower because you’re extending the payback period.
Most homebuyers prefer fixed-rate loans because their monthly mortgage payments remain relatively constant throughout the life of the loan. However, other costs typically rolled into the mortgage, such as homeowners’ insurance and property taxes, can change, leading to fluctuations in your monthly payment over time.
Adjustable-rate mortgages (ARMs)
The interest rate on adjustable-rate mortgages does not adjust from the beginning. Instead, the rate will be fixed for a predetermined number of years. Once the fixed period ends, the rate becomes variable and adjusts at regular intervals, known as the “adjustment period,” with the length of this period defined in the mortgage terms. Depending on market conditions, rates could increase or decrease at the end of each period.
The most common type of ARM is a 5/6 loan, in which the interest rate is fixed for 5 years and then adjusts every six months. There are also options for 7/6 loans and 10/6 loans. Because the interest rates on ARMs tend to be lower than those on fixed-rate loans during the initial (fixed-rate) phase, adjustable-rate loans are a good option for borrowers who don’t plan to stay in the home beyond the fixed-rate period.
Other information you should know about mortgage rates
When comparing rates from different lenders, you’ll see two different numbers: the interest rate and the annual percentage rate (APR).
The interest rate is the amount a lender charges on the principal amount borrowed. Consider it the basic cost of borrowing money for a home purchase.
An APR represents the total cost of borrowing money, including interest and other fees. It includes the interest rate plus any fees associated with generating the loan. The APR will always be higher than the interest rate.
For example, a $300,000 loan at 3.1% interest and $2,100 in fees would have an APR of 3.169%.
When comparing rates from different lenders, look at the APR and the interest rate. The APR represents the total cost of the loan over the full term, including loan origination and lender fees. The interest rate is the amount of interest the lender charges on the borrowed loan amount, excluding additional fees. You’ll also need to consider what you can pay upfront versus what you can pay over time.
Mortgage refinance rates
Homeowners may decide to refinance for various reasons, including lowering their interest rate, extending the loan term, or tapping into their home equity. Refinance rates tend to be higher than purchase rates, so carefully weigh the pros and cons before deciding whether a “refi” is the right step.

Factors affecting today’s mortgage rates
Rates alone do not fully determine the loan’s cost or your monthly payment. The following factors, detailed in your lender’s loan disclosures, also apply.
Loan term
As a general rule, the longer the loan term, the smaller the payments but the more costly the loan overall. Choosing a 15-year mortgage instead of a 30-year mortgage will increase the monthly payment but reduce total interest paid over the life of the loan.
Loan type
With a fixed-rate mortgage loan, payments remain the same throughout the life of the loan. Adjustable-rate mortgages reset regularly (after an introductory period), and the monthly payment adjusts accordingly.
A mortgage whose size exceeds the federal loan limit is known as a “jumbo” or “non-conforming” loan. Such mortgages usually have lower rates but more stringent credit requirements.
Taxes, HOA fees, insurance
Home insurance premiums, property taxes and homeowners association fees are often bundled into your monthly mortgage payment. Consult your real estate agent for an estimate of these costs.
Private mortgage insurance
Private mortgage insurance can cost up to 1.5% of your home loan’s value each year. Borrowers with conventional loans can avoid private mortgage insurance by making a down payment of at least 20% of the property’s purchase price or by building at least 20% equity in the loan principal. FHA borrowers pay a mortgage insurance premium throughout the life of the loan.
Closing costs
Closing costs include origination fees and other loan expenses. These extra charges typically range from 2% to 5% of the mortgage amount and are usually paid up front. Some buyers finance their new home’s closing costs into the loan, which increases the principal and raises their monthly payments.
Loan-to-value ratio (LTV)
The LTV measures the risk a lender takes when financing a property. The figure compares the loan amount to the home’s value. The higher the LTV, the greater the lender’s risk — and, ultimately, the higher the mortgage rate for the borrower.
Economic factors
Lenders use several factors to determine daily mortgage rates. While every lender’s formula varies slightly, it typically factors in the current federal funds rate (a short-term rate set by the Federal Reserve), competitors’ rates, and other relevant factors, sometimes including the number of underwriters available. Your qualifications as a borrower will also affect the rate you are offered.
In general, rates track the yields on the 10-year Treasury note. Average mortgage rates are usually about 1.8 percentage points higher than the yield on the 10-year note. In times of economic uncertainty, such as periods of high inflation, Treasury yields tend to rise. That, in turn, pushes all types of interest rates higher, including those on home loans.
How mortgage rates affect affordability
The rate on your mortgage can make a big difference in how much home you can afford and the size of your monthly payments. That’s true whether buying your primary residence, an investment property or refinancing an existing loan.
Here’s an example. If you bought a $250,000 home and made a 20% down payment of $50,000, you would end up with a starting loan balance of $200,000. On a $200,000 home loan with a fixed rate for 30 years, here’s what you would pay:

At a 3% interest rate = $843 in monthly payment (not including taxes, insurance, or HOA fees)
At a 4% interest rate = $955 in monthly payment (not including taxes, insurance, or HOA fees)
At a 6% interest rate = $1,199 in monthly payment (not including taxes, insurance, or HOA fees)
At an 8% interest rate = $1,468 in monthly payment (not including taxes, insurance, or HOA fees)

Experimenting with a mortgage calculator allows you to find out how much a lower rate or other changes could impact what you pay. A home affordability calculator can also estimate the maximum loan amount you may qualify for based on your income, debt-to-income ratio, mortgage interest rate and other variables. The Consumer Financial Protection Bureau can also provide a range of rates offered by lenders in each state.

How to get the best mortgage rate
One of the most effective ways to find the best mortgage rate is to shop around, according to Freddie Mac. Borrowers who get a rate quote from just one additional lender save an average of $600 over the life of the loan. Those savings can increase up to $1,200 if you obtain three quotes. A larger down payment amount will also result in a lower interest rate.
The best mortgage lender for you is the one that offers the lowest rate and the terms you want. Your local bank or credit union is a good place to start. Online lenders have expanded their market share over the past decade and promise to get you pre-approved within minutes.
You can also lower the offered rate by buying discount points, also known as mortgage points. A point typically costs 1% of the loan amount and can reduce the interest rate by 0.25 percentage points.
Compare loan options, rates, and terms, and ensure your lender offers the mortgage type you need. Not all lenders write FHA loans, USDA-backed mortgages or VA loans, for example. If you’re unsure about a lender’s credentials, request its NMLS number and verify its reputation online.
Once you find the best rate, get a rate lock to guarantee it won’t change before you can close the loan. Obtaining a preapproval letter can also be helpful.

Current mortgage rates FAQ
When will mortgage rates go down?
Mortgage rates have been trending lower after hitting a high of 7.08% last November. While most experts believe rates will eventually move into the 5% range, borrowers should expect them to remain between 6% and 7% for the foreseeable future.
Should I lock in my mortgage rate today?
Yes. Obtaining a mortgage rate lock as soon as you have an accepted offer on a house (and find a rate you’re comfortable with) can help guarantee a competitive rate and affordable monthly payments on your loan. A rate lock means that your lender will guarantee your agreed-upon rate, typically for 45 to 60 days, regardless of market fluctuations. Ask your lender about “float-down” options as well, which allow you to snag a lower interest rate if average rates drop during your lock period. This option usually comes with a fee that ranges between 0.50% and 1% of the loan amount.
What are discount points on a mortgage?
Discount points are a way for borrowers to reduce the interest they pay on a mortgage. By buying points, you’re basically prepaying some of the interest the bank charges on the loan. In return, you get a lower interest rate, which can lead to lower monthly payments and additional savings on the cost of the loan over its full term. Each mortgage point normally costs 1% of your loan amount and could shave up to 0.25 percentage points off your interest rate.
Why is my mortgage rate higher than average?
You may have a higher-than-average mortgage rate for a number of reasons. Credit scores, loan terms, interest rate types (fixed or adjustable), down payment size, home location and loan size will all affect the rate offered to individual home shoppers. One of the best ways to lower your rate is to improve your credit score.
Different mortgage lenders offer different rates. It’s estimated that about half of all buyers only look at one lender, primarily because they tend to trust referrals from their real estate agent. But shopping around for a lender will help you snag the lowest rate out there.
Should I refinance my mortgage when interest rates drop?
Refinancing your mortgage when interest rates drop could make sense if it provides a tangible benefit; be it lower monthly payments or a shorter loan term. Determining whether now is the right time to refinance your home loan involves a number of factors. Most experts say you should consider refinancing if your current mortgage rate exceeds today’s rates by at least 0.50 percentage points. But since there are fees involved, it doesn’t make sense to refinance every time rates inch down.