Jan-Pieter Jansen, a 77-year-old retiree from the Netherlands, had high hopes for a worry-free retirement after having saved diligently into a pension during his working life. “This is causing me a lot of stress,” says Mr Jansen, who retired 17 years ago and hoped to use his pension pot to treat his grandchildren and afford good hotels on holidays. Mr Jansen is not alone in experiencing pension pain.
The FBI tried to warn Bank of America against an ill-fated leveraged buyout led by former Blackstone dealmaker Chinh Chu, telling an executive that “the entire transaction was setting alarms off, and there was a concern that someone was attempting to defraud” the bank. BofA faces steep potential losses after ignoring the warnings about now-bankrupt Constellation Healthcare Technologies, which are detailed in FBI files made public by a federal court last week. It was the first acquisition for his investment vehicle CC Capital, which he created after ending his 25-year stint working on multibillion-dollar transactions for Blackstone.
Dow Jones futures fell slightly Sunday, along with S&P 500 futures and Nasdaq futures. The stock market rally looks great as the Dow Jones, S&P 500 index and Nasdaq composite continue to set highs. Apple and Microsoft are thriving with chips such as AMD stock and Applied Materials are thriving.
Stocks on Wall Street have soared to fresh record highs, but it's not because the economy is flashing a big thumbs-up sign. The economy is still expanding, to be sure, and sporadic worries about recession have faded again. More evidence of a slowdown emerged in a pair of recent reports on industrial production and retail sales — windows into how businesses and consumers are faring.
Reports from the U.S. Census Bureau show the average national retirement age in 2019 was 63—64 for men and 62 for women, according to a 2015 report by the Center for Retirement Research. A 2015 paper published by the National Bureau of Economic Research, for example, found that “retirement improves both health and life satisfaction,” in part by factoring in the number of people who are forced to retire due to health issues. Relatively few people have the financial resources to support an extended retirement.
Canaccord Genuity strategist Tony Dwyer has been bullish on the U.S. stocks in recent years, predicting after rising more than 23% in 2019, the S&P 500 will reach 3,350 by the end of 2020, a more than 8.3% increase from Tuesday's close. Indeed, from the close of trade on April 30, through June 30 the S&P 500 declined 6.9%, before rising to record highs in late July and again in recent weeks. “Our core thesis remains positive, with low inflation, an easy Fed, a re-steepening of the yield curve, slowing but positive growth, better-than-expected [earnings per share] and valuation expansion, although the tactical backdrop suggests a minor correction over the near term,” Dwyer wrote in a Tuesday note to clients, referring to a widening gap between interest rates of varying maturities that had flattened in recent months, often viewed as an accurate predictor of coming economic weakness.
For 2020 Roth IRA contributions are not allowed for single filers with a modified adjusted gross income (MAGI) of $139,000 (up from $137k in 2019) or more and married couples filing jointly whose MAGI exceeds $206,000 (up from $203k in 2019). A Roth IRA allows for tax-free qualified distributions in retirement, which may be invaluable if you anticipate landing in a high tax bracket when you retire. Fortunately, there is an available solution to the Roth IRA roadblock for affluent taxpayers: a backdoor Roth IRA.
Marijuana stocks received enormous hype after 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. Are any marijuana stocks on major U.S. exchanges a good buy now? Overall, the marijuana industry is showing little profit growth as weed producers burn through money to expand.
Canada Pension Plan Benefits Similar to the U.S. Social Security system, the Canada Pension Plan provides several types of benefits: Retirement pension. You can start full CPP retirement benefits at age 65. You can get a permanently reduced amount as early as age 60, or as late as age 70 with a permanent increase.
America's coal plants are turning off the boilers, facing brutal economics and customers fleeing for natural gas and renewable energy. This week, Arizona's 2.25-GW Navajo Generating Station burned its last load of coal after no buyers turned up during a two-year search. Trade publication Utility Dive reports that the fate of the financially ailing plant was sealed after a bid to force an Arizona water agency to buy its electricity failed.
This weekend's Barron's cover story explains how to generate income in retirement. Other featured articles discuss big tech's take on banking and retailers that have been left behind. Also, the prospects for a medical devices maker, a financial services play, a retail giant still growing and more.
Exxon Mobil Corporation (NYSE: XOM) was America's biggest publicly traded oil and gas company in 2019, and one of the largest companies in any industry. It reported consolidated revenue of more than $290 billion in 2018 across its worldwide upstream and downstream oil and gas operations. Exxon Mobil's core businesses include oil and gas exploration and production, petroleum refining, chemical manufacturing, and the marketing of petroleum and chemical products.
Bullish buyers have sent the S&P 500 Index soaring to a series of record highs this month, but wealthy investors are bracing for a significant market decline by the end of 2020, and now hold, on average, 25% of their assets in cash, according to a worldwide survey by UBS Global Wealth Management that drew more than 3,400 responses. “The rapidly changing geopolitical environment is the biggest concern for investors around the world,” as Paula Polito, client strategy officer at UBS GWM, observed in a statement. UBS polled investors with $1 million or more in investable assets, which include cash and marketable securities, but exclude residences and personal property.
One thing is clear: investors are constantly searching for serious growth names. For investors that have settled on this strategy, what's the best way to find these tickers with growth prospects that go above and beyond? The platform's Stock Screener tool simplified our research process by allowing us to filter our search results by analyst consensus and upside potential from the current share price.
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each Friday that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Fossil Group Inc. recently was downgraded to Sell with a D rating by TheStreet's Quant Ratings.
With their attractive income and yields, dividend stocks not only offer solid returns in an era of ultralow bond yields that doesn't appear to be ending soon, but also hold the promise of price appreciation. The S&P 500 index's yield was recently around 1.9%, about even with that of the 10-year U.S. Treasury note—itself a common source of income for retirement savers. Dividends also offer a number of advantages beyond income, one being that qualified dividend income is taxed as a capital gain and at a lower rate than ordinary income receives.
Aurora Cannabis Inc. shares suffered through their worst trading session in more than five years Friday, after an earnings report that included disappointing numbers and plans to cut spending sent analysts racing to cut their forecasts for the Canadian marijuana producer. Aurora's (ACB) revenue declined by 24% sequentially in its fiscal first quarter, and the second largest public weed company by sales cancelled or delayed plans for multiple further facilities expansions and converted C$155 million in debt into shares as it seeks to conserve cash. Investors responded by sending the stock on a 17.2% decline to $2.73, the largest single-day percentage decline for Aurora shares in more than five years and the lowest closing price since October 2017.
As retirement looms for many Americans, some are deciding to take a retirement hiatus or not retire at all — but not for the reasons you think. According to a new survey by TD Ameritrade, there are many Americans between the ages of 40-70, who are not retiring even though they are financially able to because they enjoy the routine, it staves off depression, or are pursing a new dream. TD Ameritrade polled 2,000 adults for its survey.
The slogan was: There are some things money can't buy; for everything else, there's Mastercard. Fast forward more than two decades and the world of fintech and digital payment processing has changed, and Mastercard has changed right along with it.
The IRS gets a little grumpy if you contribute to a Roth IRA without what it calls earned income. The good news is that you don't necessarily need a formal job to contribute to a Roth IRA. Although it's not true in all cases, if you're paying taxes on any type of income from working, there's a good chance that you can make Roth IRA contributions.
After years of fund raising, private-equity funds “are awash in capital,” according to Bain's 2019 private-equity report. Take (WBA) (ticker: WBA): The $70-plus billion drugstore chain is up 15% over the past month on reports that it could get bought out by the legendary private-equity firm (KKR) (KKR). It's tempting to run sophisticated screens looking at factors that attract private-equity investors, such as management age (perhaps a retirement is pending and no succession plan is in place) or lower-than-average profit margins.
So far in November, according to OilX data, Venezuela has exported an average of 530,000 bpd, up from 523,000 bpd in October. Bloomberg reports, citing shipping data, that Venezuela had loaded almost 11 million barrels of crude in just the first 11 days of November, which is more than twice as much as it did in the same period last month. Most of the oil seems to have gone to India and China, with half of the vessels transporting it turning their transponders off to avoid detection.
A key reading on the health of the housing market comes out Thursday, and the Federal Reserve will release minutes from its October meeting midweek.
Will India give the world a technology titan like America's Google, Facebook and Amazon or China's Baidu, Alibaba and Tencent? With all the smart, entrepreneurial talent available — very often the same talent the rest of the world relies on to imagine and nurture its own tech companies — it is reasonable to ask what is taking us so long. The first wave of technology development in India gained momentum in the 1990s, with companies such as the one I co-founded, Infosys, riding a tide of global outsourcing and consulting.
How much you will pay in taxes on an individual retirement account (IRA) withdrawal depends on the type of IRA, your age, and the purpose of the withdrawal. In other cases, you owe income tax on the money you withdraw and sometimes an additional penalty if you withdraw funds before age 59½. There are a number of IRA options and a variety of places to get these account types, but the Roth IRA and the traditional IRA are by far the most widely held types.