MoMo Productions Families of color were already trailing their White peers in retirement savings. Then the coronavirus pandemic hit, adding a further hurdle to retirement planning for minorities in the U.S. More than 60% of Hispanic households are at risk of being unable to maintain their current standard of living in retirement, along with 54%
Month: November 2020
AJ_Watt | E+ | Getty Images Forget volatility. The thing that keeps certified financial planner Neil Waxman on edge is clients’ cybersecurity practices and the threat of identity fraud. “It’s not the markets that keep me up at night,” said Waxman, managing director of Capital Advisors in Shaker Heights, Ohio. “This is the thing that
I knew the day was coming, even if an effective vaccine would be announced shortly (which it was), my most “normal” activity, playing tennis, was, again, going to succumb to Covid-19 protocols. The virus has been surging in my state, with daily cases up over tenfold compared to where they were in June. Finally, the decree
Bernard Arnault, billionaire and chief executive officer of LVMH Moet Hennessy Louis Vuitton SE, arrives to speak as the luxury brand announces full year earnings in Paris, France, on Tuesday, Jan. 28, 2020. Christophe Morin | Bloomberg | Getty Images Luxury king Bernard Arnault has retaken the title of world’s second richest person, with a
Jamie Grill | Blend Images | Getty Images Retirement savers appear to be taking advantage of relaxed rules around 401(k) withdrawals during the coronavirus pandemic. The typical 401(k) investor pulled $12,000 from their account in the form of a “coronavirus-related distribution,” according to a new Vanguard analysis of its client data. This figure represents the
Dr. Michael Osterholm, Regents Professor, McKnight Presidential Endowed Chair in Public Health, and director of the Center for Infectious Disease Research and Policy at the University of Minnesota, announced advances for COVID-19 testing in Minnesota, Wednesday, April 22, 2020 in St. Paul, MN. Glen Stubbe | Star Tribune | Getty Images Shutting down businesses and
Ben Bland, Indonesia correspondent, explains one of the world’s most complicated elections as the country prepares to elect both chambers of its legislature and a new president. For more video content from the Financial Times, visit http://www.FT.com/video Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
On the heels of President-elect Joe Biden’s victory, free college may finally become a reality. On the campaign trail, Biden said he will enact legislation to ensure that students can go to community college for up to two years without having to pay tuition. Biden also adopted a proposal from Sen. Bernie Sanders, I-Vt., to
Nes | E+ | Getty Images When the Covid-19 pandemic hit the U.S. in mid-March, there were three types of financial advisory firms: high-tech, low-tech late adopters and firms somewhere in between. The overnight shift to work-from-home was vastly different for each type. Low-tech firms transported printers and fax machines to their homes and scrambled
Is it time for a reconsideration of this monster rally? With the S&P 500 up 9% in six trading sessions to an all-time intraday high (though not a closing high), many are looking at parts of the market as overbought. Others agree, but say it doesn’t matter in this strange mix of election and vaccine
Despite rising Covid-19 infections throughout the United States, Europe and beyond, people are preparing to travel in late 2020. According to a survey by travel booking app Hopper, 39% of Americans are expected to travel during the upcoming holiday season. By that estimate, nearly 130 million people will be hitting the road in the United
Allianz Global Investors’ Mona Mahajan won’t rule out market consolidation over the next several weeks. But she’s painting a bullish long-term picture that’s chiefly tied to a key advancement on the coronavirus front. “We’ve had tremendous vaccine news,” the firm’s senior U.S. investment strategist told CNBC’s “Trading Nation” on Tuesday. Since yesterday’s encouraging vaccine announcement
High-flying automotive executive turned international fugitive Carlos Ghosn believes the coronavirus pandemic will accelerate consolidation of the global automotive industry, including his former employer Nissan Motor. In a rare interview following his daring escape to Lebanon from Japan on Dec. 29, the former Nissan chairman said the industry will continue to struggle even after a
shapecharge | E+ | Getty Images Medicare beneficiaries who pay extra for coverage due to higher income should be aware that those monthly surcharges are creeping up for 2021. With the standard premium for Part B (which covers outpatient care) now set at $148.50 next year, those so-called income-related monthly adjustment amounts, or IRMAAs, will
President-elect Joe Biden and Vice President-elect Kamala Harris at the transition team’s Covid-19 advisory board Nov. 9, 2020 meeting in Wilmington, Delaware. Joe Raedle | Getty Images Joe Biden may have won the presidency, but there’s no guarantee his tax plan will come to fruition intact. President-elect Biden campaigned on a series of sweeping changes
CNBC’s Jim Cramer on Monday gave advice on how to approach the stock market after news of progress on a coronavirus vaccine sent the recovery stocks rallying and the stay-at-home stocks retreating. “I think you have to be prepared for a multiday sell-off in the Covid names,” the “Mad Money” host said. “These stocks have
Tech billionaire Mark Cuban has been an outspoken voice throughout the 2020 election process, from endorsing President-elect Joe Biden while criticizing President Donald Trump’s Covid-19 response to saying that certain aspects of “both sides scare me.” Despite making clear his preference of Biden over Trump before this month’s presidential election, Cuban now also says he
General view during the KKW Beauty Launches at ULTA Beauty on October 24, 2019 in New York City. Dimitrios Kambouris | Getty Images Entertainment | Getty Images Check out the companies making headlines in midday trading. Amazon, Facebook, Google, Apple — Big Tech stocks struggled on Tuesday as the rotation out of recent winners continued
Chloe Fineman and Alec Baldwin as Donald Trump during the “Trump Rally” Cold Open on Saturday, October 26, 2019. NBC | NBCUniversal | Getty Images In the late ’90s if late night comedians wanted to get a quick laugh, all they needed to do was make a quip about President Bill Clinton. Clinton’s womanizing persona
On election night in 2008, when then Senator Barack Obama won Virginia, it became apparent that he would go on to win the election. Here’s a look back at that historic moment. ————————————————– Follow BI Video on Twitter: http://bit.ly/1oS68Zs Follow BI on Facebook: http://bit.ly/1W9Lk0n Read more: http://www.businessinsider.com/ ————————————————– Business Insider is the fastest growing business
Getty Images If you’re an investor wondering which sectors may do well in 2021, keep an eye on those that would benefit from a dose of pre-Covid normalcy. With Monday’s news that results from a coronavirus vaccine trial were better than expected, the major stock indexes jumped. By mid-day, both the S&P 500 index and
Josh Brown Adam Jeffery | CNBC Josh Brown‘s latest book on investment strategy is due out later this month, featuring 25 different financial experts who share their approach to markets. While the investors featured in the book own different assets, Brown said Monday on CNBC that there is a unifying thread connecting them. “Nobody has
A woman holds her smartphone with the app of the electric scooter sharing provider Tier Mobility next to an e-scooter to use it. Hauke-Christian Dittrich/dpa (Photo by Hauke-Christian Dittrich/picture alliance via Getty Images) Hauke-Christian Dittrich | picture alliance via Getty Images LONDON — German electric scooter rental firm Tier announced Tuesday that it’s raised $250
Ethan Brown, founder, president and CEO of Beyond Meat. Adam Jeffery | CNBC Shares of Beyond Meat cratered as much as 28% Monday in after-hours trading following the release of disappointing third-quarter results, capping off a frenzied day of trading for the volatile stock. McDonald’s announcement of a plant-based line called “McPlant” sparked confusion among
Labor leaders, workers and activists attend a rally for a $15 minimum hourly wage on July 22, 2015 in New York. Spencer Platt | Getty Images The federal minimum wage which is currently $7.25 per hour, has not been updated since 2009 and is an unlivable income in most of the U.S. It may soon
Eric Audras | ONOKY | Getty Images So you finished your estate plan. You finalized a will, made sure beneficiaries are named on financial accounts, signed all other pertinent documents and picked an executor to carry out your wishes when you die. You might have overlooked one consideration: whether you should share the details of
Stanley Druckenmiller Anjali Sundaram Billionaire investor Stanley Druckenmiller advised investors against being short the stock market as positive news on the coronavirus front has jolted a big rotation out of growth and into value names. “It’s nuanced, but there are a lot of companies that will be direct beneficiaries [from a coronavirus vaccine], and they
Eric Schmidt speaks during a National Security Commission on Artificial Intelligence conference November 5, 2019, in Washington Alex Wong | Getty Images Former Google CEO Eric Schmidt has been approved to become a citizen of Cyprus, according to a report Monday from Recode. An October notice in Alithia, a Cypriot publication, apparently announced Schmidt and
Packages of “Impossible Burger” and “Beyond Meat” sit on a shelf for sale on November 15, 2019 in New York City. Angela Weiss | AFP | Getty Images Check out the companies making headlines after the bell: Beyond Meat — Shares of Beyond Meat tumbled more than 25% in extended trading after the alternative meat
McDonalds restaurant in Londons Oxford Street. Restaurants are only allowed to open for takeaway orders during the Englands second lockdown. Dave Rushen | LightRocket | Getty Images McDonald’s is expected to report its third-quarter earnings on Monday before the bell. Here’s what Wall Street is expecting, based on a survey of analysts by Refinitiv: Earnings
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