Average retirement-age Americans have this much in their 401(k), report says

Americans who are nearing retirement age have about $200,000 in their 401(k) accounts on average, a new survey found. According to Vanguard's “How America Saves 2019” report, published this month, the average American worker aged 65 and older has about $192,877 in their 401(k) and a median balance of around $58,035. While their median balance is slightly below that age group as well ⁠⁠— by about $3,700, it's still considerable since many start tapping into their 401(k) starting at 65.

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  Want to save more in your 401(k) retirement plan? Ditch these stock market myths

  USA TODAY
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  Maxing out a 401(k) is surprisingly rare — but may be easier than you think

  MarketWatch

Chinese asset buyers unfazed by Brexit drama show strong interest in acquiring British companies

The UK is emerging as a preferred destination for Chinese outbound investment as they shun the US amid the US-China trade war and tougher regulatory scrutiny, say investment bankers. According to Charles Maynard, founding partner of investment adviser BDA Partners, it is natural for the Chinese to look at the UK for M&A opportunities at this time given the state of relations between the world's two most powerful economies. "Brexit or not, the UK is open for business," said the London-based financial adviser.

Kraft Heinz is running out of cash: top analyst

Saving macaroni and cheese maker Kraft Heinz (KHC) may be one of the toughest gigs in Corporate America today (well that and trying to run what's left of Sears). The iconic company has been embarrassed by two years of terrible sales growth, a $15 billion write-down to the Kraft and Oscar Meyer trademarks, a depleted corporate culture, an awful stock price and a subpoena from the U.S. Securities and Exchange Commission related to an investigation of its accounting practices. “In our view, Patricio faces a monumental challenge to put Kraft Heinz on a path to success as a standalone company,” contends Guggenheim Securities analyst Laurent Grandet.

These U.S. states are hit hardest by Trump's tariffs

With trade tensions between the U.S. and China rising since about March 2018, the economic effects are becoming clearer. Following the most recent 25% tariffs on Chinese imports that Trump announced on May 10, a note from JP Morgan took a look at which states are most susceptible to this latest round. Tennessee, Illinois, and California were the states hit the hardest when weighing imports as a percentage of state GDP, according to JP Morgan's analysis.

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  Who Meets Xi - Common Sense Trump or Tariff Man?

  Bloomberg
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  Market Recap: Pink Tariffs and an All-Time High

  Market Realist

Time for Investors to Move Some Holdings Into India Mid-Caps, Says HDFC Securities's CEO

Dhiraj Relli, chief executive officer at HDFC Securities, discusses Indian stocks and where he's putting his money. He speaks on “Bloomberg Markets: Asia. Corrects guest's title in headline.

SCOTUS just FUCT the US Patent and Trademark Office

The US Supreme Court has just decided Iancu v. Brunetti (pdf), a First Amendment case about “immoral or scandalous” trademarks, ruling that the US Patent and Trademark Office (USPTO) violated an entrepreneur's free-speech rights when it denied trademark registration for his clothing brand FUCT. The majority opinion, written by justice Elena Kagan, follows the 2017 ruling in Matal v. Tam, which held that the USPTO could not deny an Asian-American band called The Slants a trademark based on its interpretation that the name was a racist slur and thus a “disparaging” mark.

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  EU's top court finds cutting retirement age for Poland's Supreme Court unlawful

  Reuters
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  U.S. Supreme Court allows foul language trademarks in F-word case

  Reuters

Which jobs make the most money?

The data is used by the government to track the number of people in different jobs, focus government education programs, and forecast which jobs will grow in the future. p It's an astonishing trove of information for people looking for a job.

This Biotech Stock Is Facing A 'Whale' As Pfizer Unveils Gene Therapy Data

Sarepta Therapeutics will face a "whale" of an overhang Friday when Dow Jones stock Pfizer unveils the results of its gene therapy in Duchenne muscular dystrophy, an analyst said Monday. Instinet analyst Christopher Marai says Sarepta stock could pop as much as 20%-30%, or dive as much as 10%-15% on the results. In midday trading on the stock market today, Sarepta stock slipped 0.9%, near 128.80.

Cement Produces More Pollution Than All the Trucks in the World

Manufacturing the stone-like building material is responsible for 7% of global carbon dioxide emissions, more than what comes from all the trucks in the world. After wresting deep cuts from the energy industry, policymakers looking to extend the fight against global warming are increasingly focusing on construction materials and practices as a place to make further reductions. “There is so far too little demand for sustainable materials,” said Jens Diebold, head of sustainability at LafargeHolcim.

Are These Marijuana Stocks A Good Buy Now? Look Past The Hype

Marijuana stocks have received enormous hype, as legal recreational sales took hold in Canada and sales became legal in some form or another across more than half of the U.S. Producers in Canada listed on the big U.S. exchanges, while their U.S. counterparts sought listings in Canada. But are any of the marijuana stocks on major U.S. exchanges a good buy now? Innovative Industrial Properties, a real estate investment trust focused on the cannabis industry, has strong IBD ratings as it blasted out of a base.

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  Here's Why the Hottest Marijuana Debut of 2019 Is Bad News

  Motley Fool
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  Supreme Cannabis to Launch Investment Platform Supreme Heights

  CNW Group

Rules That Warren Buffett Lives By

Berkshire Hathaway CEO Warren Buffett is arguably the world's greatest stock investor. Buffett personally lost about $23 billion in the financial crisis of 2008, and his company, Berkshire Hathaway, lost its revered AAA ratings. Buffett invests only in companies he thoroughly researches and understands.

Retirement Income: A Lower Risk Recipe To Yields Of 2.5% To 7% — Or More

That's based on Fidelity's rule of thumb that says your savings should total 10 times your income by retirement, even though Fidelity assumes you retire at age 67. So how do you get $43,000 out of a retirement savings balance of $700,000? Vanguard's No.

Bristol-Myers Will Divest Celgene Blockbuster to Close Deal

Under an agreement with the Federal Trade Commission, Bristol-Myers will sell off the psoriasis pill Otezla to appease antitrust regulators' concerns, the company said in a statement. Bristol-Myers shares fell as much as 7.6% to $45.57 in New York, the biggest intraday drop since the deal was announced on Jan. 3. Celgene declined as much as 5.2% to $93.74.

• Bristol-Myers Squibb Provides Update on Pending Merger with Celgene

  Business Wire
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  Bristol-Myers plans to divest Celgene's psoriasis drug

  Reuters

Goldman Sachs plans to disrupt banking like Amazon did retail, Apple in music

With its startup consumer bank Marcus, Goldman Sachs (GS) wants to disrupt banking the way Amazon (AMZN) disrupted retail and and Apple (APPL) upended music. Specifically, the 150-year old bank's goal is to transform "the distribution and consumption experience of financial services," according to Harit Talwar, the head of global consumer business for Goldman Sachs. The diapers she buys at Walgreens or the diapers she buys at Amazon are the same diapers,” Talwar explained Yahoo Finance last week, on the sidelines of the Fortune Brainstorm Finance event in Montauk, New York.

Millennials, you've got this all wrong. You need to stop 'saving' for retirement.

All personal finance books harp on why it's critical to save for retirement. Brokerage firms publish studies about how much people are saving for retirement. OK, I get it: You're putting money aside for the future and letting it accumulate as a reserve, which is the very definition of saving.

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  Tax Season May Be Over, but You Can Make These 4 Moves to Lower Your 2019 Taxes

  Motley Fool
• Here's What the Average Older American Has in a 401(k)

  Motley Fool

Savers: Here Comes Bad News (And It Could Get Worse)

Stock investors love the Fed's apparent willingness to cut short-term interest rates. The yield on five-year certificates of deposit dropped to 1.39% as of June 21, says Greg McBride, chief financial analyst at Bankrate.com. Banks are pre-emptively cutting CD yields to protect themselves in case the Fed moves rates lower, McBride says.

A 'pretty simple' reason why there's no female big bank CEO: Krawcheck

The lack of gender diversity in the upper echelons of Wall Street is not a pipeline issue, banking veteran Sallie Krawcheck, the CEO of Ellevest, said recently. According to Krawcheck, the answer is rather straightforward. It's pretty simple," Krawcheck told Yahoo Finance during an interview at the Fortune Brainstorm Finance event in Montauk, New York.

U.S. Supreme Court takes up insurers' $12 billion Obamacare dispute

The justices will hear an appeal by a group of insurers of a lower court ruling that Congress had suspended the government's obligation to make the payments. The insurers have argued that the ruling would allow the government to pull a "bait-and-switch" and withhold money they were promised. Insurers including Moda Health Plan Inc have said the government was supposed to help them recover from early losses they suffered after the passage of the 2010 Affordable Care Act, often called Obamacare, under Democratic former President Barack Obama.

• Supreme Court rules against newspaper seeking access to food stamp data

  Politico
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  Justices side with business, government in information fight

  Associated Press

Stocks edge up as investors await Trump-Xi meeting

President Donald Trump said Monday that he would impose sanctions on Iran, as a response to Iranian forces downing an unmanned U.S. drone last week, according to multiple reports. Further impositions on the country would extend a pressure campaign the U.S. began last year, after Trump removed the U.S. from a 2015 nuclear deal and imposed sanctions to try and push Iran to accept limits to its nuclear program. The sanctions have hit Iran's key oil sector, and are part of the Trump administration's ambitions to send Tehran's oil exports to zero.

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  Best Market in 6 Decades Could Soar Higher on G-20 Trade Deal Progress

  Investopedia
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  Wall St. flat as healthcare losses limit tech gains

  Reuters

From 'Prada to nada' and back: Has America really recovered from the Great Recession?

As many economists predict a new recession starting sometime next year, it's important to understand how far Americans have come in the last decade during what will be the longest economic expansion next month. Equally important, how prepared are they for another recession? The part that makes me cry' In 2009, it began to fall apart for Michelle and Michael Phillips of Dingman's Ferry, Pennsylvania.

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  Prada Intends to Use Only Recycled Nylon by 2021

  Teen Vogue
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  Prada to launch recycled nylon bag collection made from ocean plastic

  The Independent

Must-Know Rules for Converting a 401(k) to a Roth IRA

Roth vs. Traditional IRA A traditional IRA allows an individual to defer the income tax owed on the portion of income that is saved for retirement. If the person is saving through an employer plan, the money is deducted from pre-tax salary. The self-employed can open an IRA account and contribute pre-tax income to it.