Reported 2 days ago
A 68-year-old divorced retiree with two children, renting a home and possessing $750,000 in investments, is contemplating whether to establish a revocable trust. Financial advice suggests that if the estate is straightforward, a trust may not be necessary but could be beneficial for asset control after death. Additionally, the retiree is encouraged to consider their investment strategy, long-term care policies, and update essential legal documents such as healthcare directives and wills.
Source: YAHOO
Reported 2 days ago
US stocks experienced gains after a September jobs report revealed 254,000 new jobs added, exceeding forecasts and reducing unemployment to 4.1%. However, Spirit Airlines stock faced declines due to looming bankruptcy reports, while other notable tickers included Rivian, JetBlue, and American Airlines.
Source: YAHOO
Reported 2 days ago
President Biden's student loan forgiveness initiative has once again been halted by a federal judge in Missouri. Jan Miller, a student loan consultant, discusses alternative options for borrowers, notably the administration's 'Plan B' and 'SAVE' programs, which could lead to affordable payments and potential forgiveness for millions in the future. Miller highlights the significant impact of student debt on borrowers' financial ambitions and insists that while current plans face uncertainty, other relief options may emerge.
Source: YAHOO
Reported 2 days ago
The U.S. Supreme Court will decide if it's more challenging for white and heterosexual workers to prove discrimination in workplace bias lawsuits, following an appeal by Marlean Ames, who claims she was discriminated against by her employer. The case questions whether Title VII of the Civil Rights Act should impose higher standards for majority group members in discrimination claims, a stance supported by some but disputed by others. The court's decision could impact future lawsuits regarding workplace equity and discrimination policies.
Source: YAHOO
Reported 2 days ago
In a recently released report showing the US economy added 254,000 jobs, SDS Global Enterprises President Shirley Davis offers key job-seeking strategies. She highlights the importance of leveraging one's network for referrals and insights. Davis encourages job seekers to be clear about their skills and to thoroughly research salary expectations. Additionally, she warns of attractive but potentially misleading job offers known as 'golden handcuffs' from current employers. For more in-depth advice, viewers can watch the full episode on Yahoo Finance.
Source: YAHOO
Reported 2 days ago
In a recent podcast episode, hosts David and John Auten-Schneider emphasize the unique financial challenges faced by the LGBTQ community, highlighting the importance of utilizing financial tools like retirement accounts and wills. They stress that while many financial practices are universal, personal finance is significantly influenced by individual identities and experiences. To achieve financial security, they advocate for proactive planning and open discussions with financial advisors about personal goals, particularly regarding retirement planning.
Source: YAHOO
Reported 2 days ago
Christopher DeVocht, a carpenter from Vancouver Island, turned an initial investment of C$88,000 into C$415 million by trading Tesla options, but lost everything after the stock's decline in 2022. He is now suing Royal Bank of Canada and an accounting firm, claiming negligent financial advice led to extreme concentration in Tesla shares, resulting in a total loss of his portfolio. He argues that his limited financial understanding was not adequately considered by the advisors.
Source: YAHOO
Reported 2 days ago
Christopher DeVocht, a carpenter from Canada, rose from an account worth C$88,000 to C$415 million trading Tesla options, only to lose it all in 2022. He claims negligent financial advice from Royal Bank of Canada and an accounting firm led to his downfall, as they failed to recognize his limited knowledge beyond trading Tesla. Now, DeVocht is suing for damages, alleging the negligence caused significant financial loss while attempting to minimize taxes.
Source: YAHOO
Reported 2 days ago
According to a National Retail Federation (NRF) survey, Halloween spending in the U.S. is expected to hit a record $11.6 billion this year, with nearly half of shoppers beginning their purchases before October. Katherine Cullen from NRF highlights that costumes, decorations, and candy are significant contributors to this increase, with consumers averaging around $103.63 each. Retailers are expected to offer numerous deals, and shoppers are encouraged to take advantage of loyalty programs for additional savings.
Source: YAHOO
Reported 2 days ago
Tesla's Chief Information Officer, Nagesh Saldi, has resigned ahead of the company's Robotaxi event scheduled for October 10, 2024. This departure is part of a broader trend, with several high-ranking executives leaving the company following Elon Musk's announcement of significant staff reductions. Saldi, who joined Tesla in 2012, was responsible for critical projects, including the establishment of new data centers. The continuous leadership changes come as Tesla faces challenges in stock performance and competition in the electric vehicle market.
Source: YAHOO
Reported 2 days ago
A recent survey shows that 36% of Americans have a side hustle, with many feeling financially secure due to multiple income sources. Quicken CEO Eric Dunn highlights that side hustles often stem from personal hobbies and can bring in over $1,000 extra each month for various positive financial goals like paying off debt or funding leisure activities. Dunn advises those interested in starting a side hustle to begin slowly, choose something they are passionate about, and utilize financial tools like Quicken to manage their finances effectively.
Source: YAHOO
Reported 2 days ago
The IRS is expanding its Free Direct File program for the 2025 tax season to include 12 additional states, along with accommodating a wider range of tax situations, such as 1099 filings and various deductions. Wealth! host Brad Smith provides a detailed breakdown of these changes.
Source: YAHOO
Reported 2 days ago
U.S. Transportation Secretary Pete Buttigieg addressed the potential bankruptcy of Spirit Airlines and its implications for competition in the airline industry. He highlighted concerns over the significant consolidation within the sector, noting that the survival of only a few major players could threaten competition. Buttigieg asserted that while individual airlines may be struggling, the overarching industry structure must encourage more competition, not less.
Source: YAHOO
Reported 2 days ago
UBS strategist Leslie Falconio discusses the recent US jobs report, which exceeded expectations with 254,000 new jobs and a reduced unemployment rate of 4.1%. She emphasizes that the Federal Reserve's September rate cut does not signify a trend, as the market adjusts to a less dovish outlook. Falconio anticipates that inflation will continue to decrease, despite potential short-term shocks, and believes the Fed will maintain a path of moderate rate cuts rather than drastic measures.
Source: YAHOO
Reported 2 days ago
At 62 years old with $1.2 million saved for retirement, individuals often wonder if this amount is sufficient for a comfortable and stress-free life. While the common 4% withdrawal rule suggests an annual income of about $48,000 from savings, adding Social Security benefits could elevate this figure to approximately $71,033. However, factors like healthcare costs, inflation, and personal spending habits significantly impact whether this nest egg will sustain a desired lifestyle throughout retirement.
Source: YAHOO
Reported 2 days ago
Gary Cohn, former director of the US National Economic Council and vice chairman of IBM, emphasizes the importance of GDP growth in addressing the national deficit. He criticizes deficit spending and warns that rising debt servicing costs will be detrimental over time. Cohn believes both presidential candidates must prioritize economic growth over redistribution to effectively manage debt. He also critiques Vice President Harris's corporate tax plan, arguing it could hinder economic activity and encourage companies to relocate abroad.
Source: YAHOO
Reported 2 days ago
According to Realtor.com, new home listings have risen by 11.6% in September compared to last year, marking a three-year high. Chief Economist Danielle Hale notes this shift reflects an increase in homeowner sellers entering the market, though homes are taking longer to sell this September than in previous years. Despite current favorable mortgage rates, Hale warns they could rise again due to anticipated Federal Reserve rate cuts that have yet to happen.
Source: YAHOO
Reported 2 days ago
As the 2024 election approaches, a recent jobs report highlighting 16 million new jobs contrasts sharply with the 20% price increase under Biden's administration. The economic argument will play a crucial role in the tight race between Vice President Harris and former President Trump, with Democrats emphasizing job growth while Republicans focus on inflation. Polls indicate a shift in voter sentiment, with many prioritizing economic prices over job creation.
Source: YAHOO
Reported 2 days ago
Chicago Fed President Austan Goolsbee stated that a robust jobs report will not alter the Federal Reserve's strategy on interest rates over the next 12 to 18 months. Despite the addition of 254,000 jobs in September and a decrease in the unemployment rate to 4.1%, Goolsbee remains confident that rates will eventually be reduced to a range of 2.5%-3.5%. He emphasized that while short-term decisions may be affected, the longer-term outlook remains stable, contingent on economic conditions and potential external shocks.
Source: YAHOO
Reported 2 days ago
NVIDIA's CEO, Jensen Huang, was once told the company would never exceed a billion-dollar valuation, but through innovative strategies and diversification into sectors like AI and autonomous vehicles, NVIDIA has shattered that ceiling, growing to a valuation a thousand times greater. By evolving from just a chip manufacturer to a comprehensive platform provider, NVIDIA has positioned itself as a leader in numerous high-tech markets.
Source: YAHOO
Reported 2 days ago
Source: BARRONS
Reported 2 days ago
The FDA has confirmed that Eli Lilly has resolved the shortage of its weight-loss drug Zepbound and diabetes drug Mounjaro, boosting its market position against rival Novo Nordisk, which still faces shortages with its drugs. This allows Lilly to capture a larger share of the weight-loss market, as sales increased recently, while compounding pharmacies producing copycat versions are now required to cease production in about 60 days. This situation could significantly impact market dynamics as Lilly strengthens its foothold in the pharmaceutical landscape.
Source: YAHOO
Reported 2 days ago
As the Federal Reserve begins lowering interest rates, the housing market sees positive potential effects, particularly benefiting home improvement retailers. Lower mortgage rates may attract more buyers and sellers, revitalizing the real estate sector. Experts analyze the implications of these changes for the housing market and related retail sectors.
Source: YAHOO
Reported 2 days ago
Eli Lilly's diabetes and weight-loss medications, Mounjaro and Zepbound, have been taken off the FDA's shortage list, making them more accessible to consumers. This news may have implications for competing companies such as Novo Nordisk.
Source: YAHOO
Reported 2 days ago
Transportation Secretary Pete Buttigieg hailed the recent suspension of a two-day port strike by dockworkers as a long-overdue victory, emphasizing the need for better pay and working conditions amid a backdrop of growing corporate profits. The International Longshoremen's Association paused its strike affecting key ports, averting a potential $3.8 billion to $4.5 billion daily economic impact as companies prepare for the holiday season. Buttigieg acknowledged the strike as a critical moment in ongoing struggles against income inequality and called for a focus on resolving the resulting backlog at the docks.
Source: YAHOO