Advisor News

With campus protests grabbing the headlines, it’ s easy to lose sight of an important fact: About 4 million Americans will graduate from college this year and for them, life is about to become more complicated. The median annual wage for recent college graduates aged 22 to 27 was $60,000 last year, according to the Federal Reserve of New York. That’ s a big jump up from…

Ivan F. Boesky, the flamboyant stock trader whose cooperation with the government cracked open one of the largest insider trading scandals in the history of Wall Street, has died at the age of 87.. A representative at the Marianne Boesky Gallery, owned by Ivan Boesky's daughter, confirmed his death. The son of a Detroit delicatessen owner, Boesky was once…

The magic of time Here's a hypothetical scenario that puts things into perspective: Say 22- year-old Bob makes $60,000 a year and retires at 65. Assuming he consistently makes that 12% monthly contribution of $600 and earns a hypothetical 5% rate of return, he'll end up with $1,057,228 at retirement. Sally, however, contributes $1,000 a month at the same…

A survey released last month by AARP puts the sobering facts into perspective. The gloomy outlook raises red flags both for America’ s seniors and states like Florida that have long sold themselves as retirement havens. The figure of 1 in 5 adults over age 50 with no retirement savings came from interviews completed with more than 8,000 people, the AARP said.

US stock markets set new records in New York following the publication of the inflation data, as hopes rose that the Federal Reserve would start cutting interest rates in the coming months. The annual consumer price index came in at 3.4 percent in April, down 0.1 percentage point from March, the Labor Department said in a statement. This was in line with the median…

Federal Reserve Chair Jerome Powell said Tuesday that "it may take longer than expected" for high interest rates to lower inflation and gave no hint that a recently slowing labor market could mean earlier rate cuts. "We'll need to be patient and let restrictive policy do its work," Powell said during a session at a Foreign Bankers Association meeting in Amsterdam.

Social Security– Many people don't realize they may have to pay taxes on their Social Security benefits. You'll want to check with your tax advisor to determine whether your income reaches the threshold where your Social Security benefits will be taxed. The Social Security Administration will not automatically take out taxes from your monthly checks— to have…

High interest rates haven't crashed the financial system, set off a wave of bankruptcies or caused the recession that many economists feared. Monthly interest expenses have soared since the Federal Reserve began raising interest rates two years ago. "It's crazy," said Ora Dorsey, a 43- year-old Army veteran in Clarksville, Tennessee.

As economic ambiguity and inflation heighten investors’ retirement concerns, Americans are coming to terms with a difficult reality: their retirement prospects are more uncertain than they anticipated, and their inability to know what to expect in the future is throwing their plans into flux.