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Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to develop renewable energy capacity to help power data centers.
The companies described the deal as the largest of its kind.
The U.S. faces surging electricity demand as the advent of artificial intelligence coincides with the expansion of domestic manufacturing and the electrification of the nation’s vehicle fleet.

Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella speaks at a live Microsoft event in the Manhattan borough of New York City, October 26, 2016.
Lucas Jackson | Reuters

Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to develop renewable energy capacity to power the growing demand for artificial intelligence and data centers, the companies announced on Wednesday.
Brookfield will deliver 10.5 gigawatts of renewable energy for Microsoft between 2026 and 2030 in the U.S. and Europe under the agreement. The companies described the deal as the largest single electricity purchase agreement signed between two corporate partners.

The 10.5 gigawatts of renewable capacity is 3 times larger than the 3.5 gigawatts of electricity consumed by data centers in Northern Virginia, the largest data center market market in the world.
A Brookfield spokesperson said the deal would lead to more than $10 billion of investment in renewable energy.
The scope of the deal could increase to include additional energy capacity in the U.S. and Europe, as well as Asia, Latin America and India, the companies said. The agreement will focus on wind, solar and new carbon-free technologies.
The U.S. faces surging electricity demand as the advent of AI coincides with the expansion of semiconductor and battery manufacturing in the U.S., as well as the electrification of the nation’s vehicle fleet. After a decade of flat growth, total electricity consumption in the U.S. is expected to surge by 20% through the end of the decade, according to an April Wells Fargo Research note.
Microsoft has pledged to have 100% of its electricity matched by zero-carbon energy purchases by 2030.

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The Biden administration announced that it would forgive more than $6.1 billion in student debt for 317,000 former students of The Art Institutes, the once-giant chain of for-profit schools.
The U.S. Department of Education concluded that the schools and its parent company, the Education Management Corporation, or EDMC, made “pervasive and substantial” misrepresentations to prospective students about post-graduation employment rates, salaries and career services.
Eligible borrowers will get the forgiveness automatically, whether or not they went through the formal process for loan relief for defrauded borrowers.

A general view of the atmosphere during The Art Institute of Atlanta commencement ceremony at Riverside EpiCenter on June 17, 2022 in Austell, Georgia. 
Marcus Ingram | Getty Images

The Biden administration on Wednesday announced that it would forgive more than $6.1 billion in student debt for 317,000 former students of The Art Institutes, the once giant chain of for-profit schools.
The relief will go to borrowers who enrolled at any of the dozens of Art Institute campuses across the country between Jan. 1, 2004 and Oct. 16, 2017.

The U.S. Department of Education, which reviewed evidence provided by the attorneys general of Iowa, Massachusetts and Pennsylvania, concluded that the schools and its parent company, the Education Management Corporation, or EDMC, made “pervasive and substantial” misrepresentations to prospective students about post-graduation employment rates, salaries and career services.
“For more than a decade, hundreds of thousands of hopeful students borrowed billions to attend The Art Institutes and got little but lies in return,” U.S. Secretary of Education Miguel Cardona said in a statement.
“We must continue to protect borrowers from predatory institutions — and work toward a higher education system that is affordable to students and taxpayers,” Cardona added.
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The Education Dept. said The Art Institutes falsified average salaries among graduates, among other abuses.

“For example, according to a former employee, one Art Institute campus included professional tennis player Serena Williams’ annual income to ‘skew the statistics and overinflate potential program salaries,'” the department said.
Eligible borrowers will get the forgiveness automatically, whether or not they went through the formal process for loan relief for defrauded borrowers.

EDMC sold its remaining Art Institute campuses in Oct. 2017, and all existing schools closed under separate ownership in Sept. 2023, the Education Dept. said.
EDMC filed for bankruptcy in 2018. At one point, Goldman Sachs owned a large share of EDMC.
In response to a request for comment on the news, a spokesperson for Goldman Sachs said that it exited the investment more than 10 years ago. More

Stubborn inflation may lead the Federal Reserve to keep interest rates where they are for longer.
That’s good news for cash savers, experts say.

Jamie Grill | The Image Bank | Getty Images

Higher interest rates may be here to stay for a while longer, thanks to persistent inflation.
That’s good news for cash savers, who have the best opportunity to earn returns on their money in 15 years.

What’s more, prospective yields on those investments — whether through liquid savings or timed deposits such as certificates of deposit — are also well above inflation, noted Greg McBride, chief financial analyst at Bankrate.
“It’s a good time to lock in,” McBride said.
To secure today’s high rates, individuals may turn to CDs, Treasury bills and Treasury Inflation-Protected Securities, or TIPs.
Series I bonds — a U.S. government savings bond aimed at providing inflation protection — will pay 4.28% for the next six months, the Treasury Department announced Tuesday.
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While that’s down from a peak of 9.6%, today’s I bond rates have an advantage in that they provide an after-inflation return, according to McBride. The new 4.28% interest rate effective through October includes a 1.3% fixed-rate portion, which has formerly been as low as 0%.
Of course, many of the mentioned investments require savers to stay put for a specified time period and may require some funds to be forfeited if they are cashed in early.
Online high-yield savings accounts provide more flexible terms for accessing cash and still have top annual percentage yields of 5% or more.
Yet 67% of Americans are earning interest rates below that threshold, according to a recent Bankrate survey.

Consider when you need the money

When choosing between locking in returns on cash or finding a better rate on a liquid savings account, the timing of your goals should be your priority.
“The fundamental determinant is, ‘When do you need the money?'” McBride said.
Ask yourself whether you need to have access to your cash at a moment’s notice or whether you can afford to lock it up for multiple months or years, he said.

For investors who have ample cash, it may make sense to break up deposits among online savings accounts, short-term CDs and even long-term CDs or Treasury notes, said Ken Tumin, senior industry analyst at Lending Tree and founder of DepositAccounts.com.
“No one really knows where interest rates are going to fall,” Tumin said. “So you can try to kind of hedge your bets.”
However, for savers without much savings, a high-yield online savings account still makes the most sense, he said.
All savers — regardless of deposit size — should make sure their deposits are properly insured by the Federal Deposit Insurance Corp., if deposited with a bank, or the National Credit Union Administration, if deposited with a credit union.

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The Biden Administration plans to reclassify marijuana as a Schedule III substance, placing it alongside Tylenol with codeine, anabolic steroids, and testosterone, four sources familiar with the decision told NBC News.
Marijuana has been a Schedule I substance for more than 50 years, the same category as heroin and methamphetamines.
Stocks linked to cannabis surged on an otherwise down day for the market.

Trade Roots, a Wareham-based Cannabis dispensary grows cannabis plants for making CBD with THC in their greenhouse, and manufactures CBD products for sale in their shop and distribution to buyers. 
John Tlumacki | Boston Globe | Getty Images

Cannabis stocks leapt on Tuesday afternoon, buoyed by a Biden administration decision to ease federal restrictions on marijuana.
The U.S. Drug Enforcement Administration is expected to approve an opinion by the Department of Health and Human Services to reclassify marijuana as a Schedule III substance, NBC News reported, citing four sources with knowledge of the decision.

For more than 50 years, marijuana has been labeled a Schedule I substance, the same category that drugs like methamphetamine and heroin fall into. Drugs in that category are defined as substances with “no currently accepted medical use and a high potential for abuse,” according to the DEA.
A move to Schedule III would place marijuana alongside Tylenol with codeine and anabolic steroids – that is, “drugs with a moderate to low potential for physical and psychological dependence.”
Investors in cannabis stocks cheered the move, with the AdvisorShares Pure US Cannabis ETF (MSOS) surging nearly 20% in afternoon trading. Amplify U.S. Alternative Harvest ETF (MJUS) jumped about 19%.

Stock chart icon

MJUS performance 1-day

Individual marijuana stocks with small market capitalizations also rallied. Curaleaf Holdings surged 19% to touch a new 52-week high, while Trulieve Cannabis climbed nearly 30%.

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Some student loan borrowers have until the end of Tuesday to take advantage of an opportunity to get their debt forgiven sooner than they would have otherwise.
Here’s what to know about the Biden administration’s temporary student loan consolidation policy.

Some student loan borrowers have until the end of Tuesday to take advantage of an opportunity to get their debt forgiven sooner than they would have otherwise.
Borrowers with multiple student loans who request a so-called loan consolidation by the end of the day on April 30 — a move that will combine their federal student loans into one new loan — may benefit from the Biden administration’s temporary policy.

Applying for consolidation is a straightforward process: It should take under 15 minutes to fill out the forms, said Jane Fox, the chapter chair of the Legal Aid Society’s union.
Here’s what borrowers should know ahead of the deadline.

Bundling your loans could bring you closer to relief

Many former students have multiple education loans, either because they borrowed on repeated occasions throughout college or returned to school at some point. If these borrowers are enrolled in an income-driven repayment plan, it can mean that they’re also on multiple different timelines to forgiveness. (Depending on the plan, borrowers can get any remaining debt excused after 10, 20 or 25 years.)
Under the temporary policy, borrowers who consolidate will get payment credit on all their loans based on the timeline for the one they’ve been paying on the longest.
“This will ensure folks get the maximum number of months of credit towards student debt cancellation,” Fox said.

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Consolidating while this policy is in place could be an especially good deal for many, experts say.
For example, say a borrower graduated from college in 2004, took out more loans for a graduate degree in 2018, and is now in repayment under an income-driven plan with a 20-year timeline to forgiveness.
Consolidating before May 1 could lead them to quickly qualify for forgiveness on all those loans, experts say, even though they’d normally need to wait at least another 14 years for full relief.
“Many borrowers will get complete debt cancellation, particularly those who have been paying for over twenty years,” Fox said.
Usually, a student loan consolidation restarts a borrower’s forgiveness timeline to zero, making it a terrible move for those working toward cancellation.

What to know about consolidating your student loans

All federal student loans — including Federal Family Education Loans, Parent Plus loans and Perkins Loans — are eligible for consolidation, said higher education expert Mark Kantrowitz, in a previous interview with CNBC.
You can apply for a Direct Consolidation Loan at StudentAid.gov or with your loan servicer.
“So long as the application is submitted by April 30, they should be fine, even if the servicers take longer to process it,” Kantrowitz said.
Some borrowers who took out small amounts may even be eligible for cancellation after as few as 10 years’ worth of payments, if they enroll in the new income-driven repayment option, known as the SAVE plan.
Consolidating your loans shouldn’t increase your monthly payment, since your bill under an income-driven repayment plan is based on your earnings and not your total debt, Kantrowitz said.
The new interest rate will be a weighted average of the rates across your loans.

Before consolidating, try to get a complete payment history of each loan. In doing so, according to experts, you can make sure you’re getting the full credit you’re entitled to.
You should be able to get a history of your payments at StudentAid.gov by looking into your loan details. You can also ask your servicer for a complete record.
If a borrower believes there is an issue with their payment count, they can talk to their loan servicer or submit a complaint with the Department of Education’s Federal Student Aid unit.

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Series I bonds, an inflation-protected and nearly risk-free asset, will pay 4.28% through October 2024, the U.S. Department of the Treasury announced Tuesday.
The latest I bond rate is down from the 5.27% yield offered since November.
Short-term investors have more competitive options for cash. But the fixed rate could still appeal to long-term investors, experts say. 

Jitalia17 | E+ | Getty Images

Series I bonds will pay 4.28% annual interest from May 1 through October 2024, the U.S. Department of the Treasury announced Tuesday.
Linked to inflation, the latest I bond rate is down from the 5.27% annual rate offered since November and slightly lower than the 4.3% from May 2023.

Current I bond owners will also see their rates adjust, depending on when they bought the assets. There’s a six-month timeline for rate changes, which begins on the original purchase date.
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Despite falling rates, the I bond’s fixed-rate portion is still “very attractive” for long-term investors, said Ken Tumin, founder of DepositAccounts.com, which closely tracks these assets.

How I bond rates work

There are two parts to I bond rates — a variable- and fixed-rate portion — which the Treasury adjusts every May and November. The history of both rates is here. 
Based on inflation, the variable rate stays the same for six months after purchase, regardless of when the Treasury announces new rates. 

After the first six months, the variable yield changes to the next announced rate. For example, if you bought I bonds in September of any given year, your rates change each year on March 1 and Sept. 1, according to the Treasury. 
By comparison, the fixed rate, which is harder to predict, stays the same after purchase. Every May and November, the Treasury can adjust or keep the fixed rate the same.  

Still ‘great’ for long-term investors

Millions of investors piled into I bonds after the annual rate hit a record 9.62% in May 2022, and rates have since fallen amid cooling inflation. 
Currently, short-term savers have better options for cash. But I bonds could still appeal to long-term investors, according to Milwaukee-based certified financial planner Jeremy Keil at Keil Financial Partners.    
“The only reason you’re buying I bonds is for the fixed rate,” which is 1.3% for new purchases from May 1 through October, he said.

Long-term savers may also like the tax benefits, said Tumin. There are no state or local levies on interest and you can defer federal taxes until redemption.   
“It’s great for long-term holdings of your emergency fund,” Keil added.   
Of course, you need to consider your goals and timeline before purchasing. One of the downsides of I bonds is you can’t access the money for at least one year and there’s a three-month interest penalty if you tap the funds within five years. 
You can buy I bonds online through TreasuryDirect, with a $10,000 per calendar year limit for individuals. However, there are ways to purchase more, including $5,000 in paper I bonds via your federal tax refund.

Frequently asked questions about I bonds
1. What’s the interest rate from May 1 to Oct. 31, 2024? 4.28% annually.
2. How long will I receive 4.28%? Six months after purchase.
3. What’s the deadline to get 4.28% interest? Bonds must be issued by Oct. 31, 2024. The purchase deadline may be earlier.
4. What are the purchase limits? $10,000 per person every calendar year, plus an extra $5,000 in paper I bonds via your federal tax refund.
5. Will I owe income taxes? You’ll have to pay federal income taxes on interest earned, but no state or local tax.

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YOUR GUIDE TO NAVIGATING YOUR FINANCIAL FUTURE

While long-term care insurance rate increases can be expected, most people are shocked by how much rates can go up over the long term.
The National Association of Insurance Commissioners has reported rate spikes as high as 500%.
For those with limited financial means, a significant premium increase can be overwhelming and devastating, often forcing people to choose between financial security and compromising their parents’ quality of life and access to quality care.

Halfpoint Images | Moment | Getty Images

Supporting aging parents is an extremely difficult situation that comes with both emotional and financial complications.
The cost of long-term care insurance is a prime example.

This insurance, essential for covering costs not typically included in standard health insurance or Medicare, such as nursing home stays or in-home support, can be a financial lifeline. However, it’s not without challenges, especially when faced with an unexpected premium increase.
I know this situation all too well, having purchased long-term care policies for both of my parents in 2000.
For my dad, who was 68 at the time, I purchased 5% simple inflation protection, which accrues interest only on the original benefit. By the time my dad needed in-home care starting in 2014, his daily benefit had grown from $125 to $212.50.

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Given our family history of longevity, and because my mom purchased her policy when she was a young 54 years old, we selected 5% compound inflation protection. The daily benefit with compound inflation grows quickly because the interest earns interest.
Now, with that compound inflation protection, her daily benefit has increased from $125 to $403.

But her costs have increased, too, in part because that compound inflation protection costs more. Since 2000, my mom’s long-term care insurance premium has jumped 54%, from $1,224 to $1,885 per year. Along the way, we have experienced three rate increases.

How much can long-term care insurance increase?

While rate increases can be expected, most people are shocked by how much rates can go up over the long term, specifically for policyholders who have had their policies for a decade or more. It’s not uncommon for rates to increase by 50%. However, the National Association of Insurance Commissioners has reported rate spikes as high as 500%.
For those with limited financial means, a significant premium increase can be overwhelming and devastating, often forcing people to choose between financial security and compromising their parents’ quality of life and access to quality care.
We all want what’s best for our aging parents. Here are some ways I recommend clients navigate premium increases to protect their long-term care coverage.

3 ways to handle long-term care insurance premium hikes

Halfpoint Images | Moment | Getty Images

A significant premium increase can threaten your or your parents’ financial stability, but so does not having the right insurance coverage. It’s a catch-22 that often leaves people feeling trapped. I don’t believe that people should be forced to choose between simply accepting the increase or dropping the policy.
The good news is that you have options that don’t result in an all-or-nothing choice.
As a certified financial planner professional, I often encourage my clients to start by exploring three options — accepting the rate increase, freezing benefits or adjusting policy terms.
1. Accepting the rate increase
In some situations, the best course of action is to do nothing. If your parents’ financial situation allows them to comfortably absorb the higher rate, accepting the premium increase can ensure continuous coverage without sacrificing any benefits.
From my personal experience, this was the best choice for my mother’s situation. Despite a 54% premium increase, we chose to accept the rate rather than settle for fewer policy benefits. I know all too well the cost of in-home care, as my dad had Parkinson’s disease for nine years and needed 24-hour care the last four months of his life.

2. Freezing the benefits
If you have financial concerns about a higher premium, you may be able to eliminate or reduce the rate increase by electing to freeze your benefits. When this happens, you agree to pause the inflation protection benefit for a predetermined time frame in exchange for a lower rate. Freezing benefits helps to keep premium costs down without losing coverage altogether. It can be a good choice for parents in their early to late 80s, especially if the premium increase exceeds 20%.
Recently, I advised one of my clients to freeze their benefits when faced with a 22% premium increase since they are in their late 70s and the cost difference wasn’t a good fit for their situation. This change allowed them to maintain the current daily benefit amount but forgo future increases, helping manage costs while still providing some coverage.

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3. Finding a middle ground
Sometimes, the full premium increase isn’t manageable, but you’re not ready to freeze benefits completely. If you’re able to accept some but not all of the premium increase, it’s best to call your insurance company to negotiate your rates.
For example, if the cost is going up 15% but you can only afford 10%, discuss it with your insurer. You could uncover alternatives that an adjusted premium might offer, like a shorter benefit period, longer elimination period or reduced daily benefit amount. However, reducing daily benefits should be a last resort because it decreases the insurance payout and can increase out-of-pocket costs for your parents’ care.

Making the best long-term care insurance decisions

Age is just a number, but so is the cost of long-term care insurance. Begin by having transparent conversations with your parents and siblings, so you can work together to ensure that everyone’s needs and concerns are met. This discussion should cover everyone’s perspectives and financial considerations, especially the needs and preferences of your aging parents.
This can be a difficult conversation to navigate.

If you’re feeling stuck weighing the long-term implications of your available options, it’s important to seek guidance from a financial professional for clarity and insight. A financial expert can go over the specifics of your situation, offer tailored advice, and even suggest alternatives you might not have considered.
In the end, the decision should balance financial foresight with the care and comfort of your loved ones.
 — By Marguerita (Rita) Cheng, a certified financial planner and the CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland. She is also a member of the CNBC Financial Advisor Council. More

Having a diversified portfolio means you should have some of your money in bonds.
Bonds can not only offer some protection against market volatility, but they also generate income.
Morningstar gives some of its top bond funds.

Travelism | E+ | Getty Images

Having a diversified portfolio means you should have some of your money in bonds. The assets can offer not not some protection against market volatility, but also generate income.
Yet deciding how to construct the fixed income portion of your portfolio may seem confusing, especially after the bond rout in 2022 and continued volatility last year. In October, the 10-year Treasury yield crossed 5%. Bond yields move inversely to prices, so when yields rise, prices decline.

This year, investors are closely watching the Federal Reserve to see if and when it will begin to cut interest rates.
“As the Fed pivots toward cutting rates, stock and bond returns should once again move in opposite directions, re-establishing a mix of the two as an attractive risk-return profile,” Morgan Stanley said in its 2024 bond market outlook.
However, investors shouldn’t try to time the market, said Morningstar senior analyst Mike Mulach.
“Try to have as much diversification as you can,” he said. “There will be some volatility; there’s been more volatility lately. But there will be a time when you can’t just sit in cash.”

Bonds vs. bond funds

If you want to own individual bonds, only do so with high-quality ones, said certified financial planner Chuck Failla, founder of Sovereign Financial Group.

For instance, Treasurys can be bought through the TreasuryDirect website.
“When you go into individual bonds, you have a very predetermined duration,” Failla said. Along the way, you will collect income and you get your principal back when the bond matures.
If you’re going this route, ladder the bonds — which means staggering maturities — to meet your specific time goal, he said.
That said, in general, most investors would be best served buying a diversified bond fund, said Mulach.
“It doesn’t have to be super fancy in terms of using a sector fund, but just focusing on high-quality bonds and high-quality bond funds that will traditionally provide the best diversification benefit against riskier assets, like equities, in your portfolio,” he said.

What to look for in bond funds

There are several factors to consider when investing in a bond fund.
“Narrowing your choices to the cheapest in the universe is a great place to start,” Mulach said.
Yet price alone isn’t a barometer. Investors should be aware of interest rate risk, which is the impact of interest rate changes on the asset’s underlying price. The best way to assess this is through the bond fund’s duration, Mulach said.
Then there is credit risk. The higher the quality of a bond, the less credit risk for investors.
“Those investment-grade bonds, high-quality bond portfolios tend to offer the greatest diversification benefits relative to the equities in your portfolio,” he explained.
You’ll also have to decide if you want a fund that is actively managed, which typically comes with higher fees, or a passive fund, which is tied to a specific index. Active bond funds outperformed their passive peers last year, according to Morningstar.
Because of that outperformance, Mulach generally recommends actively managed funds.
Still, it isn’t that simple. Both Mulach and Failla said it is important to look for funds that have high-quality managers.
“Look at the track record, but don’t rely on it,” Failla said. Also look at the default rate, how long the managers are tenured with the funds and what their process is for selecting assets, he added.
“You want to make sure that they have a real process in place … to mitigate the risks that are in that space,” he said. “There are a lot of good managers out there, you just have to do your homework.”
Mulach suggests sticking with intermediate-core, short-term and ultra-short term Morningstar categories. Ultra-short funds typically have durations less than one year, while short-term funds stick with one to 3.5 year durations. Intermediate-core durations typically range between 75% and 135% of the three-year average of the effective duration of the Morningstar Core Bond Index.
“Even within those categories, just mak[e] sure they’re diversified strategies, mainly investing across … investment-grade government-backed securities, corporate-debt securities and securitized-debt securities,” he said.
Here are some of Morningstar’s top actively managed bond funds.

Top Morningstar Bond Funds

Ticker
Fund
Morningstar Category
Type
30-day SEC yield
Adj. Expense Ratio

BUBSX
Baird Ultra Short Bond Fund
Ultra Short
Mutual fund
4.89%
0.40%

MINT
PIMCO Enhanced Short Maturity Active ETF
Ultra Short
ETF
5.30%
0.35%

BSBSX
Baird Short-Term Bond Fund
Short-term
Mutual fund
4.42%
0.55%

FLTB
Fidelity Limited Term Bond ETF
Short-term
ETF
5.27%
0.25%

BAGSX
Baird Aggregate Bond Fund
Intermediate-Term Core
Mutual fund
4.11%
0.55%

FBND
Fidelity Total Bond ETF
Intermediate-Term Core Plus
ETF
5.31%
0.36%

HTRB
Hartford Total Return Bond ETF
Intermediate-Term Core Plus
ETF
4.67%
0.29%

BCOSX
Baird Core Plus
Intermediate-Term Core Plus
Mutual fund
4.30%
0.55%

Source: Morningstar, Fund websites

In some cases there are managers who have success rates lower than 50%, according to Morningstar’s active/passive barometer.
“If you’re throwing a dart at the category, maybe you’re better off picking a passive strategy,” Mulach said.
For instance, the iShares Core U.S. Aggregate Bond ETF can be a great option to simply replicate that index, he said. It can also be a way to avoid any extra risk, since active mangers typically take on more risk to beat their benchmark, he said.

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iShares Core U.S. Aggregate Bond ETF year to date

Failla also isn’t opposed to passive exchange-traded funds for Treasurys.
“High-quality Treasurys is a very efficient market,” he said. “You don’t need some high-powered analyst team.”
Meanwhile, if you have a higher risk tolerance, you can snag some attractive yields with lower-quality bonds. Just be aware that high-yield bonds have a greater risk of default.
Failla thinks they are a good investment right now. He sticks with actively-managed high-yield funds for his clients.
“1%, 2%, 3% of bonds in that portfolio will default, but if I have 500 of them I don’t really care,” he said. “That is where bond funds shine.”
He looks at each individual’s time horizon to determine asset allocation and reserves high-yield bonds for what they’ll need in about 10 years or more.
Lastly, keep in mind that income from bonds are taxed as income, compared to stocks, whose gains are taxed at a lower capital gains rate. For this reason, Mulach suggests keeping your bond funds in a tax-advantaged account, like an individual retirement account or 401(k). More