- MarketWatch•2 days ago
Money milestones: This is how your finances should look in your 60s
Larry Marfise, the athletic director at the University of Tampa, was just starting his career when he decided it was important to begin saving for retirement — he saw older people who never got to follow their dreams to travel and enjoy their later years, and he didn’t want that to happen to him. There were times when he had to stretch his income to have food, shelter, clothing, money for his goals as well as retirement savings, but he made it work. Marfise has a point — not everyone is prepared for retirement in their 60s, let alone decades before when they’re at their peak earning years or just starting out in the real world. Near-retirees, for example, had the least amount of money saved for retirement than any other group in a 2015 Wells Fargo survey: Americans 60 and older had about $50,000 stashed away while people 55 to 59 had three times as much.
- Investopedia•2 days ago
If You Invested $100 In Ripple In January 2017, What Would You Have Now?
In the fast-moving world of virtual currencies, it seems there is always at least one currency that's making major moves. Bitcoin and ethereum both saw their values multiply several times over in 2017, largely on the strength of newfound investor interest in the cryptocurrency space, the initial coin offering (ICO) craze, and similar drivers. However, the cryptocurrency with the largest percentage increase in price was ripple (XRP). (See also: How Do I Buy Ripple (XRP) Cryptocurrency?) Though founded in 2012, ripple hovered at just a fraction of one cent per token going into 2017. As of this writing, it is worth more than $3 per token. How much would $100 invested in XRP in early January 2017
- Investopedia•10 hours ago
Top 5 Monthly Dividend Stocks for 2018
Most dividend-paying stocks do so on a quarterly basis, but you can find equities that will pay you each month. If you reinvest dividends, you can grow a position more quickly by buying shares each month. For those who invest in dividend stocks for income
- Bloomberg•2 days ago
Bitcoin Rises as Ripple's Allure Fades for Manic Crypto Traders
The roller coaster that is the cryptocurrency market is alive and well. Ripple, the white-hot cryptocurrency that has more than doubled in the past week, fell as much as 39 percent from the all-high reached yesterday. Bitcoin, which has lost some of its luster as of late to its smaller rival, was up as much as 11 percent Friday. Ripple fell to as low as $2.16 after reaching an all-time high of $3.32 Thursday. The coin was down 16 percent on the day to $2.44 as of 1:12 p.m. in New York. Ripple last week surpassed ether as the world’s second-most valuable cryptocurrency after bitcoin. Coinbase, one of the largest crypto exchanges, said in a Twitter post Thursday by its chief executive officer that
- MarketWatch•20 hours ago
This person asked the internet if it was necessary to save so much for retirement — the response was surprising
When VintageBurtMacklin, as the Reddit user goes by, asked why everyone is advised to “save so much for retirement” — and if it is really the right move — the commenters of the personal finance thread of the online discussion site responded in full force. Apparently, they have been paying attention to the news of the looming retirement crisis affecting the country. VintageBurtMacklin shared his scenario: he took a new job after welcoming a new baby, and analyzed his budget, keeping in mind the typical advice that retirement savings should be maxed out before moving on to other financial goals, such as paying off a house or saving for college and new cars. “While I understand the importance of
- CNBC Videos•2 days ago
These 5 stocks could fuel market to new highs
CNBC's Dominic Chu takes a look at five stocks that could bring the market to the next record level if they hit their target price.
- The Street•2 days ago
How the New Tax Law Affects Medical Deductions, Property Taxes
Ask us anything: We're getting questions from readers about the new tax law. While there's a lot still to be learned about the Tax Cuts and Jobs Act of 2017, people are asking about changes to the retirement savings credit and property taxes. No matter your question, we've got answers from some of the nation's top tax and financial planning experts. So, don't be shy. Send your questions about the new tax law to Robert.Powell@TheStreet.com. We'll try to answer and publish as many as we can about how it's going to affect your investments, retirement savings and taxes. Question: Does the tax law include a 7.5% medical deduction threshold for 2017 and 2018? Answer: All taxpayers who itemize their
- barrons.com•2 days ago
Down, Not Out? Why Costco’s Heading for a Combeback
Shares of Costco (COST) took a tumble on Thursday, following the retailer's December sales update. The shares are down again today, but Tigress Financial argues that there are still gains ahead for the stock. Analyst Ivan Feinseth reiterated a Buy rating on Costco, citing accelerating business performance trends, committed membership base, and value-added shopping experience. Feinsteth writes that Costco is putting up strong same-store sales growth, exceeding expectations despite the challenging backdrop for retail. Moreover, he writes that the fact that Costco can raise its membership fees while still growing the size of its membership base demonstrates how loyal its customers are. As such,
- Zacks•2 days ago
Exelixis Amends Cabozantinib-Tecentriq Phase Ib Trial
Exelixis, Inc. EXEL announced an amendment to the protocol for the phase Ib trial of cabozantinib combined with Roche Holdings’ RHHBY Tecentriq in patients with locally advanced or metastatic solid tumors. The cohorts will include include patients with NSCLC and CRPC, in addition to previously included patients with renal cell carcinoma (RCC) and urothelial carcinoma (UC). The primary objective in the expansion stage of this trial is to determine the objective response rate in each cohort.
- Yahoo Finance•2 days ago
The jobs report shows just how brutal 2017 was for retail workers
Fewer jobs were created than expected during the month of December with the retail sector, in particular, taking a plunge. Within the retail trade category, the biggest loser was department stores, which dropped 8,200 jobs in December compared to November followed by general merchandise stores, which shed 19,100 jobs versus November. Nearly 8,000 retail stores were closed, according to a list compiled by UBS.
- Zacks•yesterday
U.S. Service Sector Growth Down in December: ETFs in Focus
The IHS Markit U.S. Services Business Activity Index reflected slower expansion in service activity in the United States, owing to slower increase in new business received by service providers. IHS Markit services PMI came up with a reading of 53.7 in December 2017 compared with 54.5 in November. Coming to factors driving the expansion, rise in new order volumes drove growth in the sector, as favorable market conditions led to an increase in new business activity, albeit at a slower pace.
- Zacks•2 days ago
Facebook is the Best Place for Digital Ads Per Cowen Survey
Facebook Inc. FB is the most preferred medium for digital advertisements, per a latest survey by New York-based investment firm Cowen. The survey conducted on 50 U.S. ad buyers revealed that 41% of the respondents preferred Facebook video for launching a new ad campaign compared to 25% who opted for TV and 10% who went for Alphabet’s GOOGL YouTube. Analysts at Cowen believe Facebook will emerge as the digital ad leader, replacing Google, given the growing popularity of video advertisements and its photo-sharing application, Instagram.
- Bloomberg•2 days ago
IBM, Comcast Ventures Back Fund for Blockchain Business Startups
International Business Machines Corp. and Comcast Corp.’s venture arm will become the largest supporters of an investment fund for startups that help corporations use blockchain, the digital ledger that’s become a hot technology. The startup accelerator, called MState, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months, co-founder Rob Bailey said in a phone interview. MState, with locations in New York and San Francisco, will also connect its startups with Fortune 500 clients interested in implementing their technologies, said Bailey, who was previously a partner at private equity firm Akkadian Ventures.
- Bloomberg•2 days ago
Capital One CEO Becomes Billionaire After Stock Hits Record High
Richard Fairbank spent three decades building Capital One Financial Corp. into a credit-card powerhouse, using catchy television ads with celebrities asking viewers “What’s in your wallet?” Today, there’s more than $1 billion in his. Fairbank, 67, among the longest-serving bank CEOs in the U.S., has reaped about $500 million from share sales and cash compensation since 2004. The stock has returned more than 2,200 percent since its 1994 initial public offering, including reinvested dividends, compared with about 650 percent for the S&P 500 Financials Index.
- Oilprice.com•yesterday
Canadian Crude Oil Exports Decline On Keystone Pipeline Leaks
Canadian crude oil exports fell 2.4 percent in November as the United States dropped imports from its northern neighbor to 3.26 million barrels per day, according to a new report by Reuters. An 80,000-bpd drop came as the Keystone pipeline was forced to shut down following a leak in South Dakota a couple of months ago. Since then, the TransCanada line has resumed operations, but capacity has been curtailed 20 percent owing to orders by U.S. regulators.
- MarketWatch•20 hours ago
Why retiring in America has become less attractive
Getting old in America isn’t what it used to be. In a worldwide study, the U.S. fell to No. 17 (down three spots from last year) in the Natixis Global Asset Management Global Retirement Index. The index ranks 43 mainly developed countries on their ability to offer its citizens a secure retirement. Norway, Switzerland, Iceland and Sweden top the list. Why did the U.S. have such a dismal showing? The U.S. took hits in income equality, health care spending and life expectancy. While America may have the fifth-highest income per capita, we have the sixth lowest score for income equality, suggesting that retirement saving is difficult for average workers. Our life expectancy fell, yet we spend the
Business Insider•yesterdayThe world is swimming in a record $233 trillion of debt
Global debt levels hit an unprecedented level in the third quarter of 2017, according to the Institute of International Finance. The IIF cautions that this record debt burden could keep global central banks from tightening monetary conditions in the coming months. One possible side effect of this massive debt burden could be a reluctance from central banks to tighten lending conditions, the IIF says.
- CNBC Videos•2 days ago
Former Uber CEO Travis Kalanick to sell $1.4 billion in s...
CNBC's Deirdre Bosa reports on former Uber CEO Travis Kalanick planning on selling 29 percent of his stake in the ridesharing company.
- Phoenix Business Journal•2 days ago
Are you getting a Trump tax cut bonus or raise? (See the list then ask your boss)
Are you getting a raise or bonus after passage of big business tax cuts by President Donald Trump and Congress? American Airlines (Nasdaq: AAL), Southwest Airlines (NYSE: LUV) and JetBlue Airways (Nasdaq: JBLU) are among the latest companies offering bonuses or raises to employees after tax breaks were passed late last year by President Donald Trump and Republicans in Congress. Corporate tax rates are being cut from 35 percent down to 21 percent. There are also cuts for small businesses and personal income tax cuts are being crunched down. A number of companies have announced one-time bonuses and employee raises as part of their windfalls from the Trump tax cuts. American and Southwest are the
- barrons.com•yesterday
Dazed & Confused: Dow Soars 220 Points, Disappointing Jobs Data Be Darned!
Stocks soared to new highs again today, closing out a spectacular start to 2018. The S&P 500 rose 2.6% this week after advancing 0.7% to 2743.15 today, while the Dow Jones Industrial Average advanced 576.65 points, or 2.3%, this week after gained 220.74 points, or 0.9%, to 25,295.87. The Nasdaq Composite gained 3.4% this week after rising 0.8% to 7136.56 today. Today's rally came despite disappointing payrolls data, which proved to be anything but disappointing to traders. As one observer put it before the release, it really was meaningless. The folks at Bespoke Investment Group compare this year to last year: Last year, volatility was at historically low levels with the VIX averaging an unheard
Reuters•yesterdayMorgan Stanley to take $1.25 billion hit in fourth-quarter from tax bill
The net blow of the bill to the bank will include about a $1.4 billion net discrete tax provision, mainly due to the remeasurement of certain net deferred tax assets using the lowered corporate tax rate, the company said in a filing. The sweeping tax code changes enacted in late December cuts the corporate tax rate to 21 percent from 35 percent and were expected to mean short-term pain, but long-term gain for U.S.-based corporations. Morgan Stanley's arch rival Goldman Sachs Group Inc had said on Dec. 29 it expects its fourth-quarter earnings to decrease by about $5 billion due to repatriation tax, the cost of moving money from foreign countries to the U.S., Goldman said in a filing.
- U.S.News & World Report•2 days ago
The Situation Is Getting Desperate For Sears Holding Corp (SHLD)
Sears Holdings Corp (Nasdaq: SHLD) is closing another 103 stores in an effort to keep its business alive in an increasingly difficult environment for department store retailers. The store closings are part of Sears' multi-year cost-cutting efforts, but the company's core business continues to deteriorate. In a statement, Sears says it will close 64 Kmart stores and 39 Sears stores by April.
Business Insider•2 days agoRipple's XRP is tumbling while bitcoin climbs
Ripple's XRP cryptocurrency slumped as much as 34% Friday morning, trading down to $2.45 a coin, after New York Times reporter Nathaniel Popper said he was unable to verify many of the cooperating banks the company had previously announced. Meanwhile bitcoin, the only cryptocurrency worth more than XRP by market cap, was trading up 7.9% at $16,465. Ripple CEO Brad Garlinghouse responded, saying that his company had set up interviews for Popper, and that he would be able to verify the its claims by speaking to those people.
- MarketWatch•2 days ago
Money Milestones: This is how your finances should look in your 40s
Danny Kofke, a 41-year-old middle-school teacher outside of Atlanta, often looks at a picture of a family trip to Disney World from a few years ago — to him, it exemplifies what he’s working toward in his retirement: more trips and long-lasting happy memories. He and his wife, Tracy, a former schoolteacher and now a technology coach, started saving when they were first married in 2000, putting away money every month and increasing their savings as they received raises. They recently had to adjust their contributions to pay off the last of their debt, and plan to be debt-free this fall, but they’re making it up with sound and stringent financial decisions. “Having an eye on the bigger prize helps
- Bloomberg•2 days ago
Trump Tax Reform Has States Hungry for Lower Utility Bills
Regulators from Montana to Kentucky have ordered utilities to act now to ensure ratepayers share in the windfall from the tax bill signed into law by President Donald Trump that slashed corporate rates to 21 percent from 35 percent. “It is consumer money,” said David Springe, executive director of the National Association of State Utility Consumer Advocates. Utilities that are regulated -- to protect customers from being overcharged while also ensuring a fair rate of return -- have to pass along savings to ratepayers when costs fall. Some utilities might be able to boost earnings and cut bills at the same time, said Hugh Wynne, a utilities analyst for Sector & Sovereign Research in Stamford, Connecticut.
