More than 50,000 taxpayers in Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington and Wyoming have so far used the new online IRS Direct File program this tax season, according to the agency. The IRS estimates that 19 million taxpayers are eligible to use the new program in advance of the April 15 tax…
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Empty buildings, tight credit, high interest rates set stage for commercial real estate collapse
Remote work, a holdover from the pandemic, is leaving downtown office space empty and depressing property values even as billions in loans come due. At the same time, in an effort to tame inflation the Federal Reserve raised interest rates to the highest point in decades, which makes it difficult to refinance distressed loans. “Another quarter of vacancy increase…
Do I need to notify Social Security and Medicare about the move? Yes, if you're a Social Security and Medicare recipient you definitely need to let these Federal agencies know when and where you move so there are no hiccups in your benefits or coverage. You can update both your Social Security and Medicare contact information online by simply using the "My Profile"…
The result was a week of big gains and losses, especially on Thursday when geopolitical concerns and musings on how many interest-rate cuts the Federal Reserve will make this year, freaked markets. Crude oil climbed to $86.91 a barrel, 4.5% gain for the week. The national retail price of gasoline averaged $3.59 on Saturday.
RALEIGH, N.C.– It seems the cost of just about everything is going up these days while most paychecks seem to stay the same. "The Fed has raised the interest rate eleven times so that's a lot of raising," she said. According to the U.S. Federal Reserve's most recent Survey of Consumer Finances report, the personal savings rate has dropped to 3.4 percent.
As retirement crisis looms, here's one billionaire's plan to fix it
Remy Blaire brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Thursday, April 4. REMY BLAIRE: I'm Remy Blaire- reporting from the New York Stock Exchange. This figure will be crucial when the Federal Reserve makes its next decision on interest rates– currently markets are pricing in a 97 percent chance…
Analyst who predicted interest rates recent rise unveils new target
The Federal Reserve has increased the federal funds rate by 5.25 percentage points since spring 2022, causing Treasury yields and mortgage rates to jump to levels last seen in the 1990 s. Over the winter, homebuyers got some relief when optimism of Fed rate cuts in 2024 helped yields on the 10- year Treasury note yields used by banks to set mortgage rates to dip.
As Truth Social goes, so shall go the Trump campaign. If Truth Social is riding high, so will Donald Trump; if not? Donald Trump's cash crunch eased somewhat when an appellate court lowered the sum he needs to post bond in a New York civil fraud case, and his social media company, Truth Social, initially took off like a rocket on Wall Street.
Empowering Gen Z with financial literacy
Generation Z knows they need to prioritize their financial well-being but many of this age cohort don’t know where to start.
Hello, Toni: My husband, Jay, retired six years ago when he turned 65. I spoke with a representative at the Social Security office and asked if Jay would receive a penalty for delaying enrollment in Part B. The rep said he would not, but that Jay will need to provide evidence that he has been enrolled in my employer health insurance. Hi Shirley: I have good news for you…
Wealth management giant Vanguard is moving into a newly built 91- acre campus in University City after managed health insurance company Centene abruptly backed away from its billion-dollar plans to locate there in 2022.. What happened with the Centene deal. In 2020, St. Louis- based Centene detailed plans to build its East Coast headquarters in Charlotte and…
Americans’ “magic number” for retirement is surging to an all-time high – rising much faster than the rate of inflation while swelling more than 50% since the onset of the pandemic.
Goldman Sachs asset management survey finds ‘cautious optimism’
A major survey of 359 CIOs and CFOs, representing more than $13 trillion in global balance sheet assets, indicated some “cautious optimism.”
One of your important sources of retirement income will likely be Social Security— but when should you start taking it? You can start collecting Social Security benefits at 62, but your checks will be considerably bigger if you wait until your full retirement age, which is likely between 66 and 67. However, if you have adequate financial resources to meet your…
The S&P 500 jumped 10% in the first quarter, its largest gain since the first quarter of 2019.. A combination of strong earnings, a buoyant economy, and anticipation of interest-rate cuts from the Federal Reserve sparked the move. David Solomon, CEO of Goldman Sachs, which adjusted its stock Conviction List.
A third of young investors looking to switch advisors, study finds
Almost one in every three millennial investors plans to switch advisors within the next year, according to new research.
In a year where more Americans are reaching 65 than ever before, lingering economic concerns are casting a shadow over many workers’ retirement prospects.
Black Americans financially stressed, but optimistic, study finds
Although Black consumers frequently report facing financial stress, many report optimism that their financial health will improve.
The ‘triple whammy’ keeping women from saving for retirement
Three factors contribute to women’s inability to save for a secure retirement, a financial expert said.
Four important considerations to effectively advise women on wealth
Women are controlling more money but experiencing more challenges. What you need to know to help them make effective financial decisions.
