Young workers will be allowed to contribute up to $22,500 pretax to a 401(k) in 2023, while those 50 and older will be able to sock away $30,000. getty The Internal Revenue Service announced today that young workers will be allowed to contribute up to $22,500 pretax to a 401(k) or similar retirement savings plan… More
By Richard Eisenberg, Next Avenue getty Sharon Greenfelt Kersten, a 70-year-old publicist, loved the $1,900-a-month Fort Lauderdale, Florida, two-bedroom rental house where she lived and worked. But in November 2021, her landlord told her he planned to raise the rent by roughly 40%, to $2,800 monthly. “I absolutely could not afford that,” says Kersten. So,… More
Topline The stock market surged higher on Friday, with stocks on pace to snap a three-week losing streak as investors shook off Federal Reserve Chair Jerome Powellâs recent comments about more interest rate hikes from the central bank for the foreseeable future. Stocks have moved higher this week despite rising expectations for another big rate… More
Topline The stock market moved higher on Thursday even as recession fears continued and investors assessed comments from Federal Reserve Chair Jerome Powell, who pledged that the central bank is âstrongly committedâ to bringing down inflation with rate hikes for the foreseeable future. Fed officials are warning that they wonât pause or reverse rate hikes… More
Topline The stock market tanked on Friday despite the August jobs report coming in slightly lower than expected and dropping significantly from last month, which did little to ease investor concerns about more aggressive interest rate hikes from the Federal Reserve plunging the economy into a recession. Stocks added to losses this week despite a… More
Topline Stocks rebounded slightly on Thursdayâreversing some of the steep declines in Augustâas investors continue to worry about a period of prolonged rate hikes from the Federal Reserve, while market experts warn of further volatility ahead and rising recession risks. A strong weekly jobs report wasnât enough to avoid another selloff to start the month.… More
Topline Stocks fell for a third day in a row on Tuesday as the recent summer market rally continues to fizzle out, with investors growing nervous about more big interest rate hikes from the Federal Reserve, which signaled last week that it would continue to tighten monetary policy for âsome timeâ in an effort to… More
Topline Shares of meme-stock favorite Bed Bath & Beyond, which have swung wildly in recent weeks, initially jumped before moving lower on Tuesday, a day before the struggling retailer will provide investors with a âstrategic updateâ on plans to revive slowing sales and secure new financing. The company will share more details Wednesday on plans… More
Topline Following hawkish commentary last Friday from Federal Reserve chair Jerome Powellâwho said that it would take âsome timeâ to bring down inflation with ongoing interest rate hikesâexperts warn that there is still a long way to go before a reversal in monetary policy, meaning more volatility for the stock market in coming months. Investors… More
getty As a new school year begins, smart parents and grandparents of teens and pre-teens are thinking beyond high school. Specifically, theyâre wondering about the best way to save for future college expenses. Although there are several ways to do it, the Roth Child IRA and the 529 plan are the two most popular methods… More
How many of us can say our families were mostly calm and peaceful and without ongoing conflict? My guess is, not many. As parents age, the embedded conflict can rise up, particularly when it comes to discussing finances. The underlying causes of dysfunction in family dynamics can be many: a history of poor parenting, untreated… More
getty Weâve had Roth options in 401(k) plans for some time now and Roth IRAs even longer. This has given people a chance to discover how Roths can offer savings advantages for retirement and other financial needs. The Roth option has usually been seen from the perspective of retirement alone. âThe Roth IRA can payoff… More
Topline Shares of Peloton, a pandemic-era stock darling, tanked nearly 20% on Thursday after reporting a sixth consecutive quarter of losses, as the at-home fitness company continues to struggle with declining sales and excess inventory. Investors sold shares of Peloton after the company reported another âunderwhelmingâ quarter of … [+] losses and warned of further… More
Topline Shares of videoconferencing service Zoom, one of 2020âs pandemic-era stock market darlings, have continued to struggle this year, plunging 15% on Tuesday after several Wall Street analysts downgraded the stock amid concerns that the company faces slowing revenue growth. Zoomâs success has been âovershadowedâ by a decline in profitability and cash flow, analysts warn.… More
Pay less attention to stock prices and more to what your portfolio companies are earning. Warren Buffett, chairman and chief executive of Berkshire Hathaway (Photo by Chip Somodevilla)Getty Images Is the bear market about to resume? Maybe. But even if it doesnât, there will be a big correction at some point and then another and… More
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