Lowell Money Manager Pleads Guilty to Defrauding Clients of Millions of Dollars. U.S. District Court Judge Nathaniel M. Gorton scheduled sentencing for Feb. 23, 2023. In total, Xigoros defrauded his clients of more than $3.5 million, including the entire life savings of one elderly couple, who entrusted $1.3 million to him to make investments on their behalf.
Experts weigh in on how homeowners should react to softening home values
We asked real estate agents and other experts to weigh in on how homeowners should react to softening home values in the face of rising interest rates and inflation.
One thing we know about the financial markets is that they are, by definition, volatile. Ironically, it is this volatility that is a necessary element for the higher returns historically provided by stocks. The quantifiable elements include things like assessments of the economy, interest rates, government and Federal Reserve policy, corporate profits, and…
One of the rewards for working over several decades is the ability to contribute to tax-advantaged retirement accounts, which can help provide needed income for you when you do retire. As the years went by, you may well have accumulated several retirement accounts, such as IRAs and 401 s or similar employer-sponsored plans. But you might find it advantageous to…
As we shared in Retirement Planning Part 1- Taking Control of Your Finances, retirement planning is the process of determining your retirement income along with the actions and decisions necessary to achieve them. After you have the basic knowledge of understanding, controlling and maximizing your finances, it is time to take a look at the specifics, from…
Data from a recent Redfin report shows record levels of price cuts in the U.S. real estate market as the Federal Reserve continues to hike its policy interest rate to stymie persistent red-hot inflation. Markets like Oakland, and San Francisco have seen prices drop by 2% and 3% and New Orleans has seen a 2% price drop in some cases. "Even in Atlanta, or Orlando, we're…
The economy shrank 1.6% in the first quarter and 0.6% in the second. And inflation hit 8.2% for the latest 12 months. Many top economists, such as Harvard's Larry Summers, say the economy is likely to enter a recession this year or next, thanks to the large interest-rate increases from the Federal Reserve.
The president and a top officer of the Secaucus- based real estate investment company National Realty Investment Advisors LLC have been charged for their roles in a scheme to defraud more than 2,000 investors in a $650 million Ponzi scheme, and with conspiring to evade $26 million in tax liabilities, U.S. Attorney Philip R. Sellinger has announced.
Amid high inflation, survey finds retirees spending more than they can afford
With inflation at an all-time high, retirees are finding it difficult to make ends meet and many are spending more in 2022 than they can afford, a recent survey finds.
Beyond building your nest egg, understanding your “paycheck” when you retire is key.
Fewer minority consumers receiving advice, but more are open to it
BIPOC populations are more open to working with a financial professional even though fewer BIPOC Americans are getting that professional advice.
The 2023 numbers from Social Security and Medicare provide an opportunity for clients and advisors to discuss retirement plans, the role of Social Security, Medicare premiums, and other healthcare costs that need to planned for in retirement.
Keith Ingersoll, a former associate of disgraced Seminole County Tax Collector Joel Greenberg, has agreed to plead guilty in federal court to charges that he took part in a real estate scheme that defrauded an investor of millions of dollars, according to court documents. A hearing is scheduled for Tuesday before U.S. Magistrate Judge Embry Kidd in the Federal…
On Monday, disgraced Theranos CEO Elizabeth Holmes will play one of her last cards to avoid a prison sentence when a federal judge questions a key prosecution witness who expressed post-trial regrets about testimony that helped convince a jury to convict her for investor fraud. That witness, former Theranos lab director Adam Rosendorff, made an uninvited…
The Employee Benefit Research Institute announced the launch of a re-envisioned Ballpark E$timate calculator to help individuals estimate their savings needs and future spending during retirement.
If you’ re celebrating your 65th on Nov. 15, for example, your initial enrollment window runs from Aug. 1 to Feb. 28, 2023. “Three months before your 65th, take a look at employer’ s insurance and compare it with what you’ ll be paying for traditional Medicare and a Medigap policy or a Medicare Advantage plan,” said Kathy Sarmiento, SHINE Medicare/Medicaid counseling…
A proactive approach to inflationary rates
With the recent spike in interest rates by the Federal Reserve, Americans are feeling more pressure in their wallets as inflationary rates make waves across all industries.
New data from the federal government was released Thursday indicating the Consumer Price Index reached 8.2% for the 12- month period ending in September. The persistence of inflation has caused the Federal Reserve to raise interest rates in hopes of cooling inflation. But with the interest rate hikes come a greater risk of sending the U.S. economy into a…
Social Security just announced the biggest increase in beneficiaries' cost‐ of‐ living adjustment in 40 years: 8.7%. The trouble is, Social Security is using an outdated measure that's driving up benefit costs. Social Security benefits are indexed for inflation to protect beneficiaries from a decline in purchasing power when the prices of goods and services…
