Federal Reserve officials are battling the fastest inflation in four decades, and as they do they are parsing a wide variety of data sources to see what might happen next. If they check in on how executives are describing their companies' latest financial results, they might have reasons to worry. "While we are seeing signs of economic slowing, consumers and…
J. Mitchell Lowe, previous CEO of the movie ticket subscription service, and Theodore Farnsworth, former leader of the company's now-defunct parent firm Helios& Matheson Analytics Inc, allegedly schemed to defraud MoviePass investors by producing "materially false and misleading representations" of business activities to boost stock prices and attract…
The trial is set to start Jan. 23 in Walterboro, and Murdaughâ s lawyers, Dick Harpootlian and Jim Griffin, had petitioned the court to allow Murdaugh to cash out his 401 to pay for expert witnesses and other trial expenses. Meanwhile, court appointed receivers have been given approval to sell the island, which is in Beaufort County and west of Hunting Island.
Tesla shares fell into a funk after Musk took a stake in Twitter, agreed to buy it and then tried to wiggle out of the deal. Tesla shares didn't react much after Musk clinched the acquisition, then took a whack along with much of the market Wednesday, when Federal Reserve Chairman Jerome Powell said the central bank will keep raising interest rates to tame inflation.
Final figures aren't available, but Lee County asserts that Hurricane Ian destroyed about 5,000 homes and severely damaged 13,000. The Category 4 hurricane also targeted other counties, states and countries. Reportedly, 127 people in Florida died because of Ian. Taxpayer-funded costs for the Federal Emergency Management Agency include more than $500…
According to the Federal Bureau of Investigation, in 2021 there were 92,371 older victims of fraud resulting in $1.7 billion in losses. Government imposter scams: These are fraudulent telephone calls from people claiming to be from the Internal Revenue Service, Social Security Administration or Medicare. Or they may say your Social Security or Medicare…
Riders to the rescue? LTC needs can be met if agents know the facts, expert says
Some chronic illness riders have monthly charges like LTC riders with predictable benefits. Others do not. It’s up to producers to know what they are selling, one expert told NAIFA members.
Southington writer Phil Hall was not short of material for his new bookâ 100 Years of Wall Street Crooks.â published this month by Bicep Books. The criminals range from household names like Howard Hughes, Bernie Madoff and Martha Stewart to lesser-knowns such as Billie Sol Estes, Pat Vesco and Jordan Belfort. Hall, a Southington resident who has lived in…
âThink you're a sure bet for Wednesday night's estimated $1.2 billion Powerball jackpot? If so, you need to decide whether to take cash, which would actually pay out $596.7 million, or choose the $1.2 billion annuity option that is twice as large but is paid out over 29 years. All that losing has let the Powerball jackpot grow to be the fourth-largest in U.S. history.
Americans expect to need $1.25M for a comfortable retirement, study finds
Given inflation spikes and volatile markets, Americans surveyed expect theyâll need $1.25 million for a comfortable retirement â a 20% increase over last yearâs expectations, according to recent study.
The Mega Millions lottery drawing has garnered quite the buzz after a winner has yet to claim the big prize, with the nationwide jackpot now at $1.2 billion. The largest jackpot won by a North Carolina resident was a $344 million Powerball jackpot in 2019.. Van Denton, director of communications at North Carolina Education Lottery, gave The Charlotte Observer a…
Stocks on Wall Street gave up early gains and closed lower Tuesday after an unexpectedly strong report on the job market raised concerns that the Federal Reserve will need to keep the pressure on inflation with aggressive interest rate increases. The S&P 500 fell 0.4% after having been up as much as 1% shortly after trading opened. The Labor Department…
Planning for LTC: The 4 words that drive the conversation
Although people find it easy to talk about the experiences of a friend or family member who is going through a long-term care event, they are reluctant to have a conversation about their own need for care.
LTCi Awareness Month approaches, as need for care is likely for many
During November, which is Long-Term Care Insurance Awareness Month, financial professionals will share the message with clients and prospects that obtaining LTCi can help cover the cost of care which the majority of seniors are expected to need.
A survey from Goldman Sachs finds millennials are feeling the crunch to catch up on retirement savings. Reaching $1 million in savings was once considered a good benchmark for easing into your golden years. For younger generations, $1 million in savings likely will not cut it according to a report from Wealthcare Financial, a financial planning firm based in…
Here's an interesting statistic: Some 72% of retirees say one of their biggest fears is becoming a burden on their families, according to a 2021 survey by Age Wave and Edward Jones. Both before and during retirement, what steps can you take to avoid burdening your loved ones in the future? Here are a few suggestions:.
Why the 4% rule may no longer be the retirement golden rule
Even the father of the 4% retirement rule, William Bengen, admits that itâs time to rethink that rule.
Social Security recipients are likely already aware that their payments will be 8.7% higher starting in January. On average, this translates into a $140 monthly increase. Retirees had become used to miniscule Social Security cost of living increases which were often largely offset by increases in their Medicare Part B premiums.
Kansas City- based James B. Nutter& Co., one of the nationâ s largest private mortgage lenders that since its founding in 1951 helped hundreds of thousands of Americans buy their first homes, has announced that it is going out of the home loan business. The alleged misconduct occurred from 2008 to 2010, the suit said, and resulted in the Federal Housing…
