A 2023 study by T. Rowe Price found that participation in an employer-sponsored retirement plan was highest for white people at 57.7% but lowest for Black people at 40.5% and Hispanic people at 31.9%. That auto-enrollment provision is well-intentioned, says Yemi Rose, but it needs to be part of a bigger solution. According to the Federal Reserve 2022 Survey of…
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The broadest measure of U.S. blue-chip shares has risen more than 21% since bottoming out in late October, confirming a solid bull market heading into the start of the year, powered by the end of the Federal Reserve's rate-hiking cycle, stronger-than-expected fourth-quarter earnings, and a surprisingly resilient domestic economy. For example, the equal…
Rose, president and chief executive officer of SHE Beverage Co., has pleaded not guilty to the charges and has been released from custody on a $20,000 bond. According to a grand jury indictment unsealed this week, the 54- year-old Palmdale woman marketed SHE Beverage as a women-owned company that sold beer, wine, bottled water and other products primarily to…
A new research report found that other than more profits, no single reason will lead more small businesses to offer retirement plans.Â
More women say they have the primary responsibility for managing finances and making financial decisions for their household, according to an Allianz Life study.
Tax season is officially underway, but there’s still time to make a smart money move that’s often overlooked by taxpayers eager to file their tax returns and pocket any refunds they’re due: saving for retirement.
Legislation introduced today would expand retirement savings opportunities for millions of workers by requiring businesses with 10 or more employees to offer a workplace retirement plan.
Gradually raising the early retirement age, the full retirement age, and the late retirement age are all on the table as ways to save Social Security from insolvency with minimal harm while producing an increase in the payroll and income tax revenues coming from greater and longer work effort. Although there is some offsetting leakage into disability,…
Following are some of the issues you should be re-viewing in 2024 regarding making withdrawals from your retirement accounts, making charitable contributions, considering Roth conversions and making decisions regarding investment options in 2024.. It is likely that if you had significant investments in equities in your retirement accounts, your…
WASHINGTON D.C.— On Tuesday, the Securities and Exchange Commission announced settled accounting fraud charges against Cloopen Group Holding Limited, a China- based provider of cloud communications products and services whose American depositary shares formerly traded on the New York Stock Exchange. The SEC determined not to impose civil penalties…
The country's current national credit card balance is $1.08 trillion, a record-high figure. The average interest rate crested 21%, another record- the highest logged by the Federal Reserve in almost three decades. According to a Bankrate survey from mid-2023, 47% of American credit card consumers carried their credit card debt from month to month. Wells Fargo…
Lifting communities by raising credit scores
Credit scores are the difference between thriving communities and communities of despair, a financial literacy advocate said.
Dozens of students, teachers and activists gathered Sunday afternoon outside City Hall to launch the Green New Deal for Chicago Public Schools campaign, urging officials to increase investments in green schools and climate resiliency. Supporters clutched hand-painted signs listing demands as Chicago civic and educational leaders addressed the crowd.
WASHINGTON- Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year, a move that's expected to begin as early as May. Powell, in an interview recorded Thursday for the CBS news program "60 Minutes," also said the nation's job market and economy are strong, with no sign of a…
—A South Korean court acquitted Samsung Electronics Chairman Lee Jae-yong who was accused of stock price manipulation and accounting fraud in relation to a contentious merger between two Samsung affiliates in 2015 that tightened his grip over South Korea’ s biggest company. The ruling by the Seoul Central District Court on Monday could ease the legal…
Oregon’s Division of Financial Regulation (DFR) joined a multi-state settlement alleging that Raymond James & Associates, Inc. and Raymond James…
Seniors, retirees will benefit from AI advances, experts say
According to tech and financial experts, seniors will greatly benefit from AI, without ever needing to know it’s working for them.
Study: Consumers favor flat fees for financial planning, investment services
A new study finds flat fees are emerging as a favored way for consumers to pay for financial planning and even for investment management.
WASHINGTON— The Internal Revenue Service offered a checklist to help taxpayers as they prepare to file their 2023 tax returns during filing season. These six easy tips will help make tax preparation smoother in 2024. Social Security numbers for everyone listed on the tax return.
With all the Federal Reserve dominating the news lately, some of you may be tempted to ask, "Fed, Shmed, what's all this got to do with me?" "When inflation is too high, the Federal Reserve typically raises interest rates to slow the economy and bring inflation down," the Federal Reserve Bank of Cleveland said on its website. " When inflation is too low, the Federal Reserve…
