However, the survey also found that the majority of Americans have more than $10,000 saved for retirement: close to 7% have saved between $10,000 to $49,999; 13% have saved between $50,000 and $99,999, 12% have saved between $100,000 to $199,999; 10% have saved between $200,000 to $299,999, and 16% have over $300,000 in retirement savings. Research by the Insured Retirement Institute (IRI) also suggests trouble for some retiring Boomers. According to the study, 45% of Baby Boomers have no retirement savings.
Shares J C Penney Company Inc (NYSE: JCP) fell Friday morning after Reuters reported the struggling department store may have hired debt restructuring experts. JC Penney tasked experts to explore options that would give the company more time to oversee a turnaround in the face of $4 billion of debt which needs to be addressed in the coming years, sources told Reuters. The company has more than $1.5 billion in available capital from its revolving credit line, but this figure isn't large enough to ease investor concerns.
As much of the U.S. faces a heat wave, the appetite for stocks is just as sizzling after Fed Vice Chairman Richard Clarida and New York Fed President John Williams revved up market expectations about rate cuts. Hold your horses, says Mike Wilson, chief investment officer of Morgan Stanley, who tells MarketWatch in an interview that investors should wait for better times to jump into this stock market. “We're not looking for the bottom to fall out like last year, but I do expect a 10% correction in the next three months,” said Wilson, whose end-year S&P 500 target is 2,750.
Medallia Inc. Chief Executive Officer Leslie Stretch discusses the enterprise software provider's initial public offering, diversification efforts, and global expansion plans. He speaks with Bloomberg's Vonnie Quinn on "Bloomberg Markets: European Close."
The U.S. stock market again has moved to an all-time high — and more than a few investors are worried. Finding stocks to buy is exceedingly tough, with growth names in particular at valuations not seen since the heady days of the dot-com bubble. For the most part, stocks have simply climbed the proverbial “wall of worry“. And those investors who have seen many growth stocks as “too expensive” in many cases have missed out on huge gains.
As governor of New Jersey, Chris Christie didn't designate what neighborhoods would be Qualified Opportunity Zones. The program allows holders of capital gains to defer paying taxes on those gains if they are invested in a “qualified opportunity fund,” which then invests in business equity or real estate in a designated zone. No tax event occurs until the seventh year of the investment, and if the asset is held for 10 years, the investor is taxed on just 85% of the original investment, and 0% on any money generated by that initial money.
SAIC Motor Corp. expects annual sales to fall for the first time in at least 14 years as China's biggest automaker battles through a slump in demand roiling the world's largest car market, according to people familiar with the matter. The Shanghai-based company, Volkswagen AG and General Motors Co.'s biggest auto-making partner in China, projects 2019 sales will fall about 7%, said the people, who asked not to be identified because the information hasn't been made public.
As Poland's biggest refiner publicly criticized the deteriorating quality of Russian oil, a suspect in the investigation into pipeline contamination that has severely disrupted Russian supplies is seeking asylum in Lithuania. Earlier today, Reuters cited an official at PKN Orlen, Poland's biggest refinery, as saying that Russian crude oil has been deteriorating in quality--despite the ongoing cleanup following that April contamination scandal that disrupted supplies and launched a tense backlash among buyers.
Employers might be checking up their workers more than they think, according to a new report. Aside from monitoring employees' emails, some companies are keeping track of texts, chat messages, phone calls and ID badges, The Wall Street Journal reported. According to the outlet, workers have been signing agreements for years that say any communication that happens on a company device is the property of the company, but employers are finally coming around to using that information.
If you read Fidelity Investments' latest “Retirement Analysis” report, you'd think that the average American is doing OK when it comes to retirement savings. Yet if you look at rival Vanguard Group's annual “How America Saves” report, you might reach a different conclusion, even though it is analyzing similar data in 401(k) accounts. Consider: According to Fidelity's first-quarter numbers, “the average 401(k) balance rose to $103,700, an 8% increase from $95,600 in Q4 2018” while “the average IRA balance increased to $107,100, a 9% increase from last quarter.
Costco Wholesale Corp. (COST), the members-only, big box discount retailer, charges $60 for it's lowest level membership, the Costco Gold Star membership. This may seem like steep cost to buy things, but Costco uses a subscription model of business for three reasons. With several large supermarkets, Wal-Mart Stores, Inc. (WMT) Supercenters, Target Corp. (TGT), Sam's Club, BJ's Wholesale Club, and a variety of neighborhood groceries and farmer's markets, Americans have lots of choice about where to spend their weekly food budget.
Under the Virginia settlement, three companies under the Think Finance umbrella — Plain Green LLC, Great Plains Lending and MobiLoans LLC — agreed to repay borrowers the difference between what the firms collected and the limit set by states on rates than can be charged. Virginia has a 12% cap set by its usury law on rates with exceptions for some lenders, such as licensed payday lenders or those making car title loans who can charge higher rates. In June, Texas-based Think Finance, which filed for bankruptcy in October 2017, agreed to cancel and pay back nearly $40 million in loans outstanding and originated by Plain Green.
Twenty-five companies will be part of the tech board launch in Shanghai, out of the more than 100 hopefuls that applied to go public on the platform. Endorsement from top officials helped generate such enthusiasm that the firms raised a combined $5.4 billion, about 20% more than planned. Demand from retail investors has outstripped supply by an average 1,800 times, even as some analysts voiced concern over lofty valuations.
But Joseph Stallings, economic development director for the town of Garner, now says 2020 is more realistic amid the more than $5 million in road improvements attached to the project, primarily paid for by the state. And there's still a lot of work to be done on the inside with the internal operations of the facility,” Stallings says. An Amazon spokeswoman said in an email that "timing is still unannounced," and declined to confirm an opening time frame.
Nucor Corp. came up short of analysts' expectations — and its own — as bad weather and high inventories in steel service centers led to a softer market in the second quarter. The steelmaker reported net income of $386.5 million, or $1.26 per diluted share, on sales totaling almost $5.9 billion. CEO John Ferriola admitted the quarter was weaker than Nucor had initially anticipated coming off a strong first quarter and a record-breaking 2018.
The Boeing Co. is looking at south metro Atlanta for a warehouse and distribution center that could approach 1 million square feet — the latest mega project for the region's booming logistics sector. The aerospace giant (NYSE: BA) is working with third-party logistics provider XPO Logistics Inc. (NYSE: XPO), which has been touring south metro industrial properties this year and may be focused on Clayton and Henry counties. Industrial real estate developers with projects along the Interstate 75 corridor south of Atlanta have competed for the Boeing facility, which could range from 800,000 square feet initially to eventually more than 1 million square feet. Developers have seen a request for proposals for the project, according to real estate sources familiar with the process.
Jim Cramer says the best time to buy hot growth stocks is when they sink as part of a broad market selloff that's unrelated to the companies that you're interested in. "We have always said that we wanted to buy the best growth stocks we can find when they are knocked down not because of something that happened to them, [but] because of a market wide selloff," Cramer said during an exclusive video-conference call with members of his Action Alerts PLUS club for investors. For example, Cramer said his charitable trust bought high-flying Shopify and Twilio -- which both have massively high forward price-to-earnings ratios - when they got "crushed" on May 6 as part of a major market downturn.
I don't know if that company is ever going to recover,” Keith Fitz-Gerald, chief investment strategist at Money Map Press, said on Yahoo Finance's “The First Trade. Cloud contest One of those pivots is the cloud, which allows individuals and corporations to store massive amounts of data without the need to buy and maintain their own systems. Amazon Web Services has the true first-mover advantage when it comes to the fast growing cloud computing business.
AT&T (NYSE:T) has begun the hard task of trying to pay back the debt it took on buying Time Warner. The company took to the airwaves this week to try to convince the world that its outsourcing of cloud to International Business Machines (NYSE:IBM) is somehow getting it back into the tech game. IBM said it will run its software defined network operations through AT&T and the two companies will also go to market together.
Thursday was an awful day for Netflix (NASDAQ:NFLX) stock — probably its worst in eight years. That was the last time the company reported a quarterly loss in U.S. subscribers. And this morning, Netflix did just that: Over the last quarter, Netflix reported a net loss of 126,000 U.S. subscribers.
Investors should look at the aerospace giant's fundamentals and the stock chart. Boeing Stock Fundamental Analysis Boeing earnings per share growth has averaged 45% over the past three years, according to IBD's Stock Checkup. In Q1, Boeing earnings fell, and the aerospace giant suspended its share repurchases and guidance following the grounding of its 737 Max.
That's one reason they're looking for self-driving car stocks to buy. For all the doubters out there, though, please realize this technology is coming. I know this for two reasons: that it will save lives and save money.
Canopy Growth (NYSE:CGC) has acted just as we predicted it would. The gap that occurred in January is refilling and the price of CGC stock could fall another $5 quickly. In order to understand gaps you need to understand how support levels form.
Your retirement goals will depend largely on the income you can expect during your retirement and will likely evolve as your plans, risk tolerance, and investment horizon change. While specific investing “rule of thumb” guidelines—such as “You need 20 times your gross annual income to retire” or “Save and invest 10% of your pretax income”—are helpful, it's important to step back and look at the big picture. Consider these six essential rules for smart retirement investing.
Many people make sacrifices in order to put away extra funds in retirement accounts, such as not going on vacation or buying a new car. Once you've made the effort to save and invest, you don't want to compromise your financial future by falling for something that might sound good now, but doesn't contribute to a comfortable retirement. -- Failing to account for inflation.