ECB sources told Reuters the market had overinterpreted chief Mario Draghi's comments that the central bank was ready to start withdrawing stimulus.Read More »
If you’re like many adults, the thought of taking an early retirement (could you retire at 45?) has probably crossed your mind at least once or twice. The “four percent rule” – a widely accepted financial rule of thumb – states that your savings should last through 30 years of retirement if you withdraw 4% of your nest egg during the first year of retirement and then adjust each year thereafter for inflation. If you have $500,000, the math comes out to $20,000 a year, assuming a 4% withdrawal strategy.
United Parcel Service (NYSE:UPS) is the latest company to freeze employee pension plans, according to a report published Tuesday. A growing list of American corporations are freezing pension benefits or transitioning to 401(k) retirement plans. By November 2016, 38 companies in the Fortune 100 rankings had frozen their defined benefit plans, according to Willis Towers Watson.
Citigroup ( C) broke out of a six-month ascending triangle consolidation pattern four weeks ago as it rallied above $62.69. The breakout triggered a bullish trend continuation of the long-term uptrend (starting from the 2009 $9.70 low) and a breakout of the intermediate 16-month uptrend (begun from the February 2016 $34.52 low). It also put Citigroup at its highest price in over eight years.