Home equity increased to $7.8 trillion for homeowners 62 and older in the third quarter of 2020, according to the National Reverse Mortgage Lenders Association. That’s good news for retirees because their home could provide the key to long-term security.
Read moreFor the first time in the history of the legal profession, the Arizona Supreme Court has approved nonlawyer ownership of a law firm.
—Global shares were mixed on Monday after a disappointing U.S. jobs report signaled to investors that interest rates will likely stay low. The U.S. economy is regaining momentum as the rate of coronavirus vaccinations rises, but Friday’ s U.S. jobs report was a massive disappointment. Investors have been fretting that a supercharged economy could spur higher,…
The past year has brought all sorts of federal tax adjustments and changes: stimulus payments, untaxed unemployment compensation, more lenient treatment of retirement withdrawals, an extended return-filing deadline and more. President Joe Biden has proposed a near-doubling of the maximum federal rate on capital gains or investments held more than one…
May 7— “Bubble Watch” digs into trends that may indicate economic and/or housing market troubles ahead. Buzz: Southern California home-price appreciation, on a county level, ran between 8.8% and 30.4% in this wild pandemic year. My colleague Jeff Collins and I wish there was a “perfect” home-price index.
The U.S. economy is on the brink of a dramatic year of growth as the COVID-19 pandemic fades into the background. But some sectors of the economy are doing better than others, according to Sara Eisen, co-host of CNBC’s “Closing Bell.”
London and Frankfurt opened higher while Sydney also rose. Wall Street futures were higher after the benchmark S&P 500 index lost 0.7% on Tuesday, dragged down by more declines for tech stocks including Apple and Microsoft. In early trading, the FTSE 100 in London advanced 1.2% to 7,007.14 while the DAX in Frankfurt rose 1.4% to 15,065.04.
Hong Kong and Sydney advanced while Seoul declined. On Monday, a strong dose of positive earnings reports and economic data that showed the U.S. economy is growing pushed the S&P 500 up 0.3%. U.S. futures were lower on Tuesday.
The conglomerate said that besides the investment gains, profit also improved at all of its major divisions — including insurance, utility, railroad, manufacturing and retail companies — as the economy continued to recover from the pandemic.
—Billionaire Warren Buffett warned people not to think investing is an easy way to make a fortune as he answered questions at Berkshire Hathaway's annual meeting Saturday. Buffett spent several hours answering questions Saturday afternoon at an online version of Berkshire’ s annual meeting alongside vice chairmen Charlie Munger, Greg Abel and Ajit Jain.
The Federal Reserve Bank of Richmond issued the following news release:. A company's fate sometimes hinges on the self-fulfilling beliefs of stock buyers, according to the Richmond Fed's latest Economic Brief. The researchers show how small coalitions of buyers– such as those that purchased GameStop and AMC Entertainment shares– can reap large profits while…
Polls found that Americans are more confident about covering their daily expenses and their ability to handle an emergency, but they also mortgaged some of their future to pay for that security today.
How can wealth managers broach the life insurance conversation with their clients? A panel of NAIFA members gave some insights.
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group reported today that optimism among small and medium-sized businesses is the highest it’s been…
Asian shares rose Thursday and U.S. futures also were higher after President Joe Biden delivered a speech to Congress that outlined ambitious plans for jobs creating spending on early education, child care and other public services. Shares rose in Hong Kong, Shanghai, Seoul and Sydney. Benchmarks on Wall Street slipped Wednesday after the Federal Reserve said…
A You ask the $5.4 trillion question. To put that in perspective, the entire Federal spending on New Deal programs from 1933 to 1940 was $50 billion. Since March 2020, the Federal Reserve has pushed interest rates to near zero and has pumped trillions of dollars of liquidity into the economy.
—The U.S. economy is quickly strengthening, inflation is showing signs of picking up and the nation is making progress toward defeating the viral pandemic. But on Wednesday, Chair Jerome Powell made clear that the Federal Reserve isn't even close to beginning a pullback in its ultra-low interest rate policies. The Fed also said it would keep buying $120 billion…
President Biden’s 100th day in office is tomorrow, on April 29. Hard to believe it has been 100 days already, but overall the economy continues to improve and stocks have done very well under our new President.
(DENVER – APRIL 28, 2021) IMA Financial Group, a North American insurance brokerage firm specializing in risk management, insurance, wholesale…
Thirty-one percent of U.S. workers say they are fearful of workplace repercussions, such as getting fired, laid off, skipped over for a promotion/raise or reduced hours, if they take leave, and 29% believe there is a negative perception associated with taking leave.
One-third of Americans estimate it will take two to three years to get their retirement plans back on track, due to such factors as job loss or retirement withdrawals, according to Fidelity Investments’ 2021 State of Retirement Planning Study.
Congress can take steps to strengthen Americans’ retirement security, but any successful effort will require a bipartisan approach, said the ranking member of the Senate Subcommittee on Social Security, Pensions and Family Policy.
Grow Wealth Group, a real estate investment company that helps clients accumulate and preserve wealth in the short and long term, has launched its flagship real estate investment program, “My First Deal or Million,” now available nationwide. The online program is designed to show serious new investors how to find and invest in real estate while treating each deal…
Despite the pandemic, a higher percentage of workers and retirees said they are confident of a secure retirement, according to the 31st annual Retirement Confidence Survey.
And he had issues with Robinhood’ s confetti feature— and much else besides about the trading app— long before l’ affaire GameStop brought it to the attention of other authorities, ones that Robinhood is prepared to listen to. Robinhood said the rule also creates an obstacle for federal regulation, saying the U.S. Securities and Exchange Commission in 2019 adopted…
Recent merger and acquisition momentum is likely to continue, putting this year on pace to be the ninth consecutive record-breaking M&A year, according to a report from Echelon Partners.
The size and scale of monetary and fiscal support from the Federal Reserve and Congress in response to the global pandemic has been unparalleled. At the same time, Congress quickly passed its first fiscal support package in response to COVID-19 known as The CARES Act, a $2.2 trillion stimulus bill. More recently, additional legislation known as The American…
“The COVID-19 pandemic and ensuing economic and market downturn in 2020 tested investors' resolve, but patience and resiliency were key in helping them weather the ongoing storm,” said Veronica Willis, investment strategy analyst for Wells Fargo Investment Institute. The Wells Fargo/ Gallup Investor and Retirement Optimism Index included U.S. adults with…
The wealthy are leaping far ahead of lower-income groups’ long-term goals. The survey found that the majority of affluent Americans are prioritizing many traditional milestones in life, such as buying a house.
Millennials are clearly bucking the “slacker” perception, with 81% saying that they have a plan to protect themselves against outliving their savings, while 71% have a strategy to protect their assets against market risk.
The 12 European clubs planning to start a breakaway Super League have told the leaders of FIFA and UEFA that they have begun legal action aimed at fending off threats to block the competition.
Technology companies helped drag U.S. stocks broadly lower Monday, pulling the indexes below the record highs they reached last week. Chipmaker Intel fell 1.7%, Capital One lost 0.9% and Valero Energy slid 2.3%. “What we’ re seeing in the markets today is that bond yields, after falling last week, are back to rising again,” said Megan Horneman, director of portfolio…
Japan's benchmark quickly lost early gains and fell 0.1% to 29,642.79, the first market reaction after a summit by Prime Minister Yoshihide Suga with President Joe Biden over the weekend. The government measures against COVID-19 infections already in some urban areas, including Tokyo, are being expanded to more parts of Japan, starting Tuesday, but the cities…
With so few properties on the market, bidding wars have erupted, and the median existing-home sales price rose to $313,000 in February, 15.8% higher from one year ago. The median sales price of new houses sold in February 2021 was $349,400, up 5.3% year-over-year. According to an October survey from the National Association of Realtors, nearly half of millennial…
If you are confused about the status of the economic recovery from COVID-19, you are not alone. Whether it be long economic tomes about job growth, detailed data on the stimulus multiplier or politically inspired verbiage representing conflicting points of view, the amount of information on the economy is enough to confuse even the most careful reader.
The firm scored 770 in overall satisfaction, 38 points above the industry average, according to a release from Edward Jones. “We are incredibly honored to be named by investors as delivering the highest level of satisfaction, especially during a year of challenge and volatility,” said Edward Jones Managing Partner Penny Pennington.“ We are constantly looking for…
Wells Fargo& Co. benefited from an improving U.S. economy- particularly more customers being able to pay their bills on time during the pandemic- in posting Wednesday $4.74 billion in first-quarter net income. Diluted earnings for the first quarter of 2021 were $1.05, compared with 1 cent a year ago. The average earnings forecast was 69 cents by 11 analysts…
NEW YORK- Most U.S. stocks rose on Wednesday, but indexes petered out to a mixed finish as momentum weakened following an encouraging start to what's expected to be a thunderous earnings reporting season. Shares of Coinbase Global, an exchange for bitcoin and other digital currencies, surged in their market debut, perhaps a defining moment for cryptocurrencies…
Coinbase made a rousing debut Wednesday on Wall Street, with shares of the digital currency exchange rising as high as $429, briefly giving it a market value over $100 billion. The San Francisco- based company's listing on a public stock exchange is seen by some as an inflection point for digital currencies, as Coinbase's fortunes are closely tied to Bitcoin, the…
—The Senate has approved President Joe Biden’ s choice of Gary Gensler to head the Securities and Exchange Commission, signaling an emphasis on investor protection for the Wall Street watchdog agency after a deregulatory stretch during the Trump administration.
Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity.
The chief executives of three major investor groups are calling on the Biden administration to adopt policies that will enable the U.S. to' build back better' and restore its climate leadership in the world. The organizations of the executives– Paul Simpson of CDP, Mindy Lubber of Ceres, and Fiona Reynolds of PRI– represent hundreds of institutional investors in…
With New York legalizing recreational marijuana, is it time for investors to jump in? There are still federal-level barriers that limit cannabis companies’ growth potential.
MINNEAPOLIS – April 13, 2021 – Although the economy is showing signs of rebounding from challenges brought on by the…
Your doctor needs to know certain numbers to judge your physical health, such as your weight, your blood pressure and your cholesterol levels. Similarly, you need to know certain numbers to monitor your own financial health, including:. For example, if you make $20 an hour after tax and something costs $100, you have to work five hours to afford it.
WASHINGTON, D.C.—The prospect of significant changes to tax policies across the board in 2021 is a stark reality. In preparation,…
Almost $1.2 billion in rental assistance could start flowing as soon as this week, helping low-income tenants in Los Angeles, Orange, Riverside and San Bernardino counties pay down a mountain of rent debt that piled up during the pandemic. That $2.6 billion comes from the federal stimulus bill signed by former President Donald Trump in late December and…
Business confidence in Massachusetts surged to an outright enthusiastic level in March, buoyed by COVID-19 vaccination progress and the final passage of a $1.9 trillion federal spending law. The Associated Industries of Massachusetts' monthly confidence index shot up by 4.5 points last month, capping a gain of 11.6 points since December.
Much like those who ran to California after gold was discovered, people rushing to buy Bitcoin are unlikely to discover the breathtaking fortunes found by the pioneers who came before them.
LOS ANGELES >> A Southern California brother-and-sister team were arrested Tuesday on federal charges alleging they orchestrated a $6 million real estate fraud scam in which they listed homes without the owners' consent and collected money from multiple would-be buyers for each of the not-for-sale homes. Adolfo Schoneke, 43, of Torrance, and Bianca Gonzalez,…
The S&P 500 scraped its way to a record close on Wednesday in a mixed day of trading as the Federal Reserve indicated it would remain committed to policies supporting economic recovery. Eric Schiffer, CEO of the Patriarch Organization told MarketWatch he believes the market still likely “has room to run.” Lindsey Bell, chief investment strategist at Ally Invest…
The bottom line in making your company a place where women can succeed and thrive is to ask yourself whether it is a place you would want your mother, your wife or your daughter to work.
The SEC alleges that actor Zachary Horwitz misappropriated investor funds for his personal use, including the purchase of his multi-million dollar home, trips to Las Vegas, and to pay a celebrity interior designer. Horwitz’s credits as an actor include low-budget features such as “Trespassers.”
Developers of the tower, called 8 Bishopsgate, are confident that when construction ends late next year, workers and firms will return to fill all 50 floors of the gleaming new office space. When the coronavirus struck, nearly 540,000 workers vanished almost overnight from the business hub, known as the City of London, or simply“ the City.” A year on, most haven’ t…
Wouldn't it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Here are several types of income that the IRS does not tax.
–About 6 in 10 Americans took on a new hobby over the past year as the COVID-19 pandemic raged on, according to a new report from LendingTree. “It shouldn’t be surprising that so many Americans dove into new hobbies during the pandemic,” said LendingTree’s Chief Credit Analyst, Matt Schulz. Methodology LendingTree commissioned Qualtrics to conduct an online…
A new survey conducted by Capital Group, home of American Funds, and one of the world’s leading investment management firms, finds that investors of all ages may lack the confidence, knowledge and resources needed to be confidence in their retirement.
Davidson, North Carolina- April 5, 2021- Planning for taxes in retirement is a lot like asking a child to eat their vegetables. And for those who choose the wrong strategy or happen to make a mistake, it could mean losses of potential tax savings or possible issues with the IRS. “To avoid costly mistakes, retirees and those approaching retirement should work with a…
The COVID-19 pandemic has shaken many U.S. adults’ confidence in retiring comfortably or on time, with one-in-five reporting it has forced them to delay their retirement or no longer retire at all, according to the new 2021 Tax-Efficient Retirement Income survey.
KING OF PRUSSIA, PA – March 31, 2021 – George Nichols III, President and CEO at The American College of…
