- NewsMarketWatch•6 hours ago
Where did baby boomers go wrong? This generation isn’t financially prepared for retirement
Retirement is right around the corner for baby boomers — if they haven’t already entered it — yet so many are financially unprepared. Baby boomers, or those born between 1946 and 1964, expect they’ll need $658,000 in their defined contribution plans by the time they retire, but the average in those employer-sponsored plans is $263,000, according to a survey of 900 investors by financial services firm Legg Mason. Older boomers, who are 65 to 74, have an average of $300,000. Their asset allocation for all of their investments are also conservative, according to QS Investors, an investment management firm Legg Mason acquired in 2014, with 30% in cash, 24% in equities, 22% in fixed income, 4% in
- BusinessMarketWatch•14 hours ago
Watch out: ‘Kids’ are making the most money in this stock market
We are now officially in a “kids market.” Invest accordingly. The concept of a “kids market” was introduced by Adam Smith, the pseudonymous author, in his classic book from the late 1960s entitled “The Money Game.” He used that phrase to refer to an investment environment in which the advisers and traders making the most money are those too young to remember the last bear market. The 2007-2009 financial crisis and bear market is now more than eight years in the past.
- NewsMarketWatch•9 hours ago
Altria's stock falls further but RBC says don't buy the dip
Shares of Altria Group Inc. continued to fall in premarket trade Monday, in the wake of a new Food and Drug Administration proposal to lower nicotine levels in cigarettes, with RBC Capital warning investors not to buy the dip. RBC analyst Nik Modi upgraded Altria to sector perform from underperform but kept his stock price target at $62, which was 7.4% below Friday's closing price of $66.94. Among his concerns, Altria is not a buyout candidate, valuation is only "fair," fundamentals remain under pressure following disappointing second-quarter results and "we are not going to make a leap of faith" on the launch of the company's new smokeless cigarette product IQOS in the U.S. given limited visibility on regulatory issues.
