If you start saving and investing early on, becoming a millionaire might not be as hard as you think. If you're putting away $415 a month starting in your 20s, $651 a month starting in your 30s or $1,300 starting in your 40s, and getting a 6 percent return on your investment, you're on the right track to hit that milestone by 67. If you're starting from scratch with zero savings, you need to save $2,200 a month to become a millionaire by March 2037.
Sears Holdings Corp reported its first quarterly profit in nearly two years, sending shares soaring by as much as 20% Thursday morning. Sears Chief Financial Officer Robert Rieckert directly attributed the company's net income, which totaled $244 million for the quarter, to the Craftsman sale. Back out the sale, and Sears losses deepened.
President Trump’s fiscal 2018 budget seeks a major reduction of retirement benefits for the nation’s federal workforce. If the Republican president gets his way, federal retirement benefits will be cut by more than $4 billion in the coming year and by nearly $63 billion over the coming decade. It’s not all bad news for the federal workforce: The 2.2 million civilian federal workers are in line to receive a 1.9 percent pay raise next year, slightly more than previous pay hikes, and Trump has proposed a six-week paid parental leave program that would be available to federal workers, as well as others.