NEW YORK- Wall Street roared higher again on Thursday with hopes the Federal Reserve may finally be done with its market-rattling hikes to interest rates. More importantly for financial markets, investors also took comments by the Fed's chair to mean that recent jumps in longer-term Treasury yields were acting like rate-hike substitutes and could obviate…
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–When you think about net worth, some of the world's wealthiest people may come to mind, like Jeff Bezos or even Oprah. The Federal Reserve released its Survey of Consumer Finances in October, outlining the average net worth of Americans by age– so you can see how you stack up to your peers. According to the Federal Deposit Insurance Corporation, net worth is your…
OMAHA, Neb.- Warren Buffett's company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns- particularly the insurers- generally performed well. Berkshire Hathaway said Saturday that it lost $12.8 billion, or $8,824 per Class A share, in the quarter. That's significantly bigger than the…
Many Americans at crossroads with financial priorities, survey finds
Concerns about the economy, fear of recession, and high levels of debt are causing many Americans to make difficult choices.
Nearly Half of the Sandwich Generation Report a Time They were Unable to Meet Essential Expenses Due to Costs of Caregiving, Finds Special Edition of New York Life Wealth Watch Survey
U.S. adults who are part of the Sandwich Generation, defined as those who care for both children and aging loved ones, are skewing increasingly Millennial and male compared to 2020, according to findings from a special edition of New York Life’ s Wealth Watch survey focused on the Sandwich Generation. However, women caregivers continue to report carrying a…
4 tactics for turning client referrals into introductions
Helping build client confidence can also help build a practice by increasing client referrals.
“A lot of macroeconomic indicators are pointing to a big slowdown in spending,” says Jeff Galak, associate professor of marketing at Carnegie Mellon University’ s Tepper School of Business. Signs include record-high consumer credit card debt— balances reached over $1 trillion in the second quarter of 2023, according to the Federal Reserve Bank of New York— a…
Oct. 30— An Atlanta area man described as a friend of John J. Woods, the former Chattanooga businessman who has pleaded guilty to a wire fraud charge related to a Ponzi scheme, is accused by federal regulators of aiding the alleged activity. (c) 2023 the Chattanooga Times/Free Press. Visit the Chattanooga Times/Free Press at www.timesfreepress.com.
Attorney General Ken Paxton's long-delayed trial on securities fraud charges has been set for April 15. State District Judge Andrea Beall scheduled the trial during a hearing Monday morning in Houston. Dan Patrick presided over that trial and has faced intense criticism for taking $3 million from a pro-Paxton group in the lead-up to the trial.
President Biden to announce new actions to protect retirement security by cracking Down on junk fees in retirement investment advice.
Biden Labor Department taking direct aim at FIAs in new fiduciary rule
Federal regulators are taking yet another crack at extending a fiduciary rule to annuity sales, this time with tighter messaging and full-throated White House backing.
How to use a client portal to drive better client outcomes
Financial technology – especially client portals – can have a profound impact on advisors and their clients, according to a recent study.
In this sneak peak from the Action Alerts PLUS investing club, team member and technical analyst Bob Lang explains the key clues the bond market holds about the Federal Reserve, markets and more. BOB LANG: Well, when yields rise, J.D., it means borrowing costs are much more expensive, and it costs more money to buy a house, to get a loan. I think not only– when you talk about…
SAN FRANCISCO– One year ago, billionaire Elon Musk walked into Twitter' s San Francisco headquarters with a white bathroom sink and a grin, fired its CEO and other top executives and began transforming the social media platform into what is now known as X. X looks and feels something like Twitter, but the more time you spend on it the clearer it becomes that it's…
Many surveyed say retirement confidence shaken
More than one-third of U.S. adults surveyed express shaken confidence in their retirement preparedness, according to a recent study.
How to use your powers of persuasion to increase referrals
Persuasion is a skill that helps you present your ideas in such a way that someone wants to take action.
For younger generations, money trumps marriage for personal happiness
Many younger Americans believe that financial stability is a stronger determinant of personal happiness than the person they marry, a recent study finds.
If you've invested in an IRA for many decades, it may well turn into a key source of income for your retirement. Still, you might not deplete your IRA in your lifetime, especially if you also have a pension or a 401 and other investment income. So, if your IRA still has sizable assets after your passing, it would likely end up in your estate plan.
When is a $1.47 million retirement fund not actually $1.47 million? Many baby boomers also have pensions and Social Security, two leading sources of income that people tend to overlook and fail to consider how these will affect their tax rate. There is no doubt that a 40 i is one of the best savings vehicles for retirement; however, while a $1.47 million balance is…
Williams, 33, pleaded guilty to 15 felonies, which included misusing Social Security numbers, making false statements to the IRS, and wire fraud. She also used Social Security numbers that did not belong to her to open accounts with credit card companies and banks, causing financial losses to victim companies. Furthermore, Williams opened bank accounts using…
