Recent studies have found that Americans are becoming increasingly concerned that they will outlive their savings, with more than 30 percent of Americans expecting that they will need more than $1 million in retirement, according to NerdWallet. For those looking to maximize their retirement income by minimizing their taxes, here are the seven states without an individual income tax. Despite its cold climate, Alaska offers some of the best benefits and services to retirees.
‘From a markets perspective, it’s going to be interesting. Paul Tudor Jones, a hedge-fund luminary, said he’s stress-testing his portfolio of corporate debt because he expects a tumultuous road ahead on the back of the Federal Reserve’s apparent commitment to normalizing interest rates and buttressed by corporate tax cuts from the Trump administration. Speaking at an economic forum in Greenwich, Conn., a hotbed for hedge funds, Jones said the Fed faces real challenges amid “the end of a 10-year run” of economic growth that many anticipate will soon come to a screeching, cyclical end.
Three weeks after someone hit the biggest Mega Millions jackpot in history, the winner has still not stepped forward to claim their prize, according to South Carolina lottery officials – and there might be a strategy behind the move. “I’m actually not surprised at all that it’s taking them some time to claim the prize,” Michael A. Silver, a financial advisor at Morgan Stanley, said on Wednesday. The winning ticket, which was sold in a KC Mart in the South Carolina town of Simpsonville, is worth about $1.5 billion in annual installments over three decades, or an $877 million lump-sum cash package.
Not long ago, the iPhone maker was the toast of the market as the first U.S. company worth more than $1 trillion. Apple stock plunged 17%, wiping out nearly $190 billion in shareholder value. In September, Apple (ticker: AAPL) released the $999 iPhone XS and the $1,099 iPhone XS Max, followed by the midrange $749 iPhone XR in October.
Verizon Communications Inc.'s ( VZ) stock has underperformed the broader stock for the past five years rising 20% versus the S&P 500 rise of 52%. Technical analysis suggests the stock may increase 7% more in the coming weeks. Suddenly investors are focusing and looking to Verizon's future as the company begins to roll out the fifth generation of high-speed wireless technology, also known as 5G.
has top-tier assets, with a huge presence in the oil-rich Permian Basin. With low operating costs, the company can support its growth plans and sustain its dividend, even with these low oil prices. Occidental has a high dividend yield of around 4.4% and a long history of annual dividend increases.
Google parent Alphabet Inc.’s stock chart has just produced a bearish “death cross” chart pattern for the first time in over two years, that may put the future of the internet giant’s 7-year old bull market in doubt. Some chart watchers believe the cross marks the spot when a shorter-term slump morphs into a longer-term downtrend. The last time Alphabet’s stock (GOOGL)produced a death cross was June 24, 2016.
Retirement expert Ed Slott discusses the timing of conversions when the market is up.
There are plenty of things that can ruin a person’s retirement plans — divorce, illness, job loss, overspending. A recent study has revealed for the first time the 10 biggest causes of financial regret among those who have retired or are near to retirement. The survey was conducted by researchers from the RAND Corporation and the Max Planck Institute in Munich, Germany.
While it is far from the only company to release disappointing third-quarter results, chip and graphics card manufacturer Nvidia Corp. ( NVDA) represents an acute shift in the industry. This marks an important chapter in the company's story after its fortune was made in part by intense demand over the past two years for graphics cards used to power cryptocurrency mining rigs. First, it's important to note that Nvidia's reported revenue of $3.18 billion was shy of analyst expectations of $3.24 billion, while the earnings per share of $1.84 came in higher than the expected $1.71.
Given that they are living longer, Americans need to be more prepared than ever for retirement, whether that’s in building their own savings in tax-advantaged accounts or investing with a professional financial advisor. Below, we examine data on retirement accounts like 401(k)s and IRAs to see how Americans are adapting to these changes. In order to track retirement savings and retirement account usage, we analyzed data from the Federal Reserve’s SCF (Survey of Consumer Finances) and specifically looked at data from 1989 to 2016.
Investors with at least $1 million invested in a brokerage account aren't making major changes in their portfolios after the midterm elections. Investors think the end of the record bull run is almost here — but they aren't blaming the change of power in Congress.
CannTrust Holdings Inc. said late Wednesday that it sold nearly as much recreational pot in September as Canadian cannabis rivals worth much more, and it is pursuing a listing on the New York Stock Exchange, pushing shares to large gains Thursday. The Vaughan, Ontario-based cannabis producer’s third-quarter earnings showed sales of C$500,000 in recreational pot, positioning it alongside large rivals with deep pockets such as Canopy Growth Corp. (CGC) , (CA:WEED) in the race to dominate the recreational-pot market that Canada kicked off less than a month ago. CannTrust (CNTTF)(CA:TRST) experienced early issues with supplying Canada’s recreational market with pot like other pot producers, but it was able to ship as much recreational weed as Aurora Cannabis Inc. (ACB)(CA:ACB) , which said Monday it moved about $500,000 of recreational product.
The Wall Street Journal reported, citing people familiar with the situation, that Apple has slashed orders for the iPhone XR, XS and XS Max models. Apple told its suppliers it planned to slash production of the XR by a third of the approximately 70 million units it had asked them to build between September and February, the Journal reported. Shares of Apple AAPL fell in the premarket Monday after a report said the tech giant has cut down on iPhone production orders.
Oil prices have declined sharply in November, but natural gas’ rise has been even more striking with prices for the heating fuel having soared by more than 30% for the month to date, recently touching their highest level in more than four years. “The price will move up and down with the weather, but the upside moves will be greater than the downside,” says James Williams, energy economist at WTRG Economics. December natural gas (NGZ18) rose 18% to settle at $4.837 per million British thermal units on Wednesday.
Applied Materials Inc., the world’s largest maker of equipment used to manufacture semiconductors, confirmed an industry slowdown Thursday, but also said it will be more modest than past downturns. In a conference call to discuss the company’s fiscal fourth-quarter earnings and disappointing outlook, Applied Materials (AMAT) executives said that industry spending on manufacturing equipment will be lower in 2019 compared with this year, citing a pullback on spending on memory chips and macroeconomic conditions. Just on Thursday, Nvidia Corp. (NVDA) plunged more than 16% in late trading following its earnings report, which also seemed to cause a drop for rival Advanced Micro Devices Inc. (AMD) after Nvidia said it has a big backlog of inventory of its Pascal products.
Wall Street doesn’t think much of Dell Technologies, the privately held tech conglomerate assembled by Michael Dell and Silver Lake Partners. Judging from the current price of the Dell tracking stock for (VMW) investors are effectively assigning a negative value to Dell’s core business outside its valuable 81% stake in (VMW) (ticker: VMW), a leading software company, and its stakes in two other publicly traded tech companies, (PVTL) (PVTL) and (SCWX) (SCWX). Barron’s derived this calculation based on the current price of the Dell tracking stock for VMware, (DVMT) (DVMT).
Nvidia shares dropped 19% to $164.43 to end the day. "Last quarter [CEO Jensen Huang] said 'we are masters at managing our channel', which turned out not be the case," Bernstein analyst Stacy Rasgon told Real Money. For one, Nvidia's high price to earnings ratio makes it somewhat prohibitive compared to peers like Intel Corp.
French carmaker Renault saw its share price tank after partner Nissan accused its chairman of serious misconduct and announced plans to oust him. NISSAN BOSS: Nissan Motor Co.'s chairman Carlos Ghosn is to be dismissed after the company said an internal investigation found he under-reported his income by millions of dollars and engaged in other "significant misconduct." The Yokohama-based company, one of the world's largest automakers, said the violations were discovered during an investigation over several months that was instigated by a whistleblower. The announcement came after Japanese stock markets had closed so there was no impact on Nissan's share price.
It’s time to stop lumping Netflix Inc. (NFLX) in with the other FAANG stocks, Imperial Capital analyst David Miller wrote in a note to investors Friday. The FAANG stocks are a quintet of large-capitalization technology and internet companies widely followed by investors, comprising Facebook Inc. (FB) Apple Inc. (AAPL) Amazon.com Inc. (AMZN) Netflix and Alphabet Inc.’s Google (GOOG) They’re often lumped together, but Miller says it’s time to “decouple” Netflix from the rest of FAANG.
Over the last week, we’ve seen surveys indicating investors turning more cautious, Wall Street have a falling out with its favorite stock (Apple), and data showing just how harshly investors judged poor earnings over the last quarter. The more than 18% drop in shares of Nvidia (NVDA) on Friday — which followed the company’s earnings report on Thursday that missed expectations — was but the latest evidence of a market ready to hammer yesterday’s winners for not living up to the hype. Through Friday’s close, Nvidia shares are down 38% from their all-time high.
JD.com, which is backed by Walmart Inc, Alphabet Inc's Google and China's Tencent Holdings, has already lost nearly half of its market value this year as it fights intense competition for Chinese online consumers. On Monday executives said slower sales in its core e-commerce business, particularly big ticket items, dented third-quarter earnings growth, adding that they expect an upturn in profits next year. The company also forecast fourth quarter sales growth between 18 and 23 percent, below an average analyst estimate of 23.5 percent.
The drop in Nvidia's stock reflects, in part, the reaction of a market blindsided by results after CEO Jensen Huang's comments during the company's second-quarter earnings call that downplayed crypto's impact on the company. "Last quarter [CEO Jensen Huang] said 'we are masters at managing our channel', which turned out not be the case," Bernstein analyst Stacy Rasgon told Real Money. "We came into Q3 with excess channel inventory post the crypto hangover," Huang told analysts on Thursday night.
You probably don’t need a bunch of charts to tell you just how sketchy the stock market’s behavior has been of late, but we’ll give them to you anyway. Shares of Apple have plunged over 10% in the past three months. Apple isn’t the only FAANG stock whose chart was blaring out warning signs this week.