In filings this week, both prosecutors and attorneys for Vladislav Klyushin submitted proposed questions for prospective jurors to US District Court Judge Patti Saris that would include determining whether jurors can fairly try a Russian in a time of war. The government alleges his Moscow company hacked into computers containing financial information…
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When advisors communicate about retirement, study says ‘use your words’
The language used in retirement communications is often a more dependable way to communicate than imagery, according to research by Capital Group.
Are you being told by a friend, accountant, or financial planner that you can give away $17,000 per year to your children and do not have to worry if you need nursing home care? Many people have heard of the federal Gift Tax provision that allows them to give away $17,000 per year without paying any gift taxes. Even though the federal Gift Tax law allows you to give away…
The haul from the life-changing prize is smaller in Maine than it would be in New Hampshire, which has no income tax. Maine withholds 5 percent from large lottery prizes and the winner would fall into the state's top income tax bracket at 7.15 percent, meaning the annual payments meaning the annuity payments would add up to about $754 million— or $25.1 million per…
Gavin Newsom's penchant for braggadocio was in full flower eight months ago when he declared that California had a $97.5 billion budget surplus and boasted that "no other state in American history has ever experienced a surplus as large as this." The situation is another reminder that California's public finances are at the mercy of an extremely volatile…
After years of being in debt, Rachel Kramer Bussel came to a realization: "If I don't become proactive about it, I will be in debt for the rest of my life." According to the Federal Reserve, revolving debt, which includes credit card balances, continued to rise throughout 2022, increasing at an annual rate of 10.4% as of October, the most recent numbers available.
Studies: Most Americans see need for improving financial wellness
When looking back on 2022, most Americans see room for improvement in their overall financial wellness and say they are likely to set financial goals this year, according to two recent studies.
Use the new year to focus on things you can do right now to strengthen your retirement plan. Building up an adequate nest egg for retirement is difficult. One reason it's so challenging is we face a lot of distractions along the way.
Jan. 15— The federal government spending package included changes to how many Americans save for retirement. Cody Vaughn is a certified financial planner and a St. Joseph financial adviser with Thrivent. "That gives an opportunity for individuals in our community to save money for a longer period of time before being required by the IRS to pull money out of their…
Looking back at 2022 investors faced new headwinds including high inflation and Russia's invasion of Ukraine disrupting global markets. A recession is likely in the United States, but higher interest rates will rein in inflation. The Federal Reserve's Federal Open Market Committee has been moving towards a "neutral" policy rate, around 2.5%, to find a point…
NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Credit card and other variable-rate debt is getting more expensive as the Federal Reserve raises short-term interest rates to combat inflation. The IRS raised the standard deduction, which is…
NEW YORK- Wall Street closed higher Thursday after a report showed inflation slowed again last month, bolstering hopes the Federal Reserve may take it easier on the economy through smaller hikes to interest rates. While the report on U.S. inflation was clearly encouraging, stocks had already rallied earlier this week in anticipation of exactly such data.
CLAIM: The IRS would collect nearly $850 million in taxes from a more-than $1 billion Mega Millions jackpot. THE FACTS: The winner of the lottery jackpot that sat at $1.1 billion earlier this week, when the claims circulated, would expect to pay at least $135 million in federal income taxes if they choose to receive their earnings all at once, rather than over 30…
DALLAS, Jan. 11, 2023/ PRNewswire/– Integrity Marketing Group, LLC, a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced the closing of its acquisition of Gladstone Wealth Partners, LLC, a leading wealth management firm offering registered independent advisor and…
CEO survey: Recession is the biggest worry in 2023
The Conference Board survey also found that most executives don’t think stronger economic growth will return anytime soon.
While flexibility is a top driver, ethical concerns with corporations figure in gig workers’ choices.
Even though 69% of private industry workers had access to workplace retirement benefits, only 52% participated in them, according to a report by the Department of Labor. "When retirement is a decade or more away, it's easy for individuals to forget to make time to set up their 401 plan," General Manager for Betterment at Work Kristen Carlisle said.
Federal Reserve Chairman Jerome Powell said nothing about rate hikes during a speech in Stockholm Tuesday. Federal Reserve Chairman Jerome Powell's decision to sidestep the issue of inflation and rate hikes during a central banking conference in Stockholm this week, as markets bet against his previous hawkish signals, may prove as pivotal as his late…
LUTCF program returning to NAIFA in 2023
Nearly 40 years after developing the Life Underwriter Training Council Fellow designation, the National Association of Insurance and Financial Advisors will launch a new LUTCF program by mid-year.
A 42- year-old Worcester-based investment advisor who pleaded guilty to defrauding and stealing more than $2.8 million from his clients is expected to be sentenced Wednesday in Boston Federal Court. On Sept. 8, 2022, James Kenneth Couture, 42, of Sutton, pleaded guilty to four counts of wire fraud, four counts of aggravated identity theft, one count of…
