BusinessThe Street•yesterdayA Nation of Broke People Are Killing Retail More Than Amazon: Top Expert
Retail stocks have slumped this year. While many chalk up the declines to competition from online retail behemoth Amazon (AMZN) , famed market expert Peter Schiff, CEO of Euro Pacific Capital, doesn't agree. "Amazon has been here for a long time - this is the worst year for retail - it's worse than 2008 and 2009," he said. "This is because consumers are broke - they have lousy jobs, they're loaded up with debt and they can't afford to buy stuff." He pointed to Foot Locker's (FL) 25% decline on Friday. Schiff isn't comforted by the double-digit gains in earnings growth for the past two quarters in U.S. stocks. "Let's see what happens if we go to a recession which is going to impeded [companies']
- NewsBusiness Insider•yesterday
There are only 3 things you need to focus on if you want to retire early
Early retirement only requires three things: earning, saving, and investing. The key to reaching your early retirement goal is making those three things a priority. Millennials aren't known for following the rules, especially when it comes to money matters.
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How do I cancel 10 credit cards without damaging my credit score?
When I retired, I had two years of expenses in an emergency fund (it is still there), zero credit-card debt and have lived very frugally on my small pension and Social Security Insurance since then. My FICO score is 780 and the notes on the credit-card report said high limits on multiple cards is a negative. This is not the time to worry about your credit score.
