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
getty Imagine that you’re a blue-collar worker who starts out with an apprenticeship directly out of high school and works until your full retirement age of 67 — for a working lifetime of 49 years. If you had a pension in the private sector, say, 1.5% of pay per year, you’d get a pension benefit
getty In March, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which was intended to provide relief for taxpayers, including those stimulus checks. The law also offered some provisions intended to help businesses, including the much talked about Paycheck Protection Program, or PPP. The program is precisely what it sounds like: billions
An artist’s rendition of Lilium’s planned vertiport in Orlando’s Lake Nona, which it envisions as a … [+] hub for a statewide air taxi network. Courtesy of Lilium The German electric aircraft developer Lilium is partnering with the real estate developer Tavistock to build a hub in Orlando for an inter-city transportation network in the
A health care worker holds an injection syringe of the phase 3 vaccine trial, developed against the novel coronavirus (COVID-19) pandemic by the U.S. Pfizer and German BioNTech company, at the Ankara University Ibni Sina Hospital in Ankara, Turkey on October 27, 2020. Dogukan Keskinkilic | Anadolu Agency | Getty Images The announcement earlier this
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
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
Zoom CEO Eric Yuan speaks before the Nasdaq opening bell ceremony in New York on April 18, 2019. Kena Betancur | Getty Images Shares of Zoom Video fell sharply on Monday morning as names benefitting from people staying at home due to the coronavirus pandemic lost their appeal following the release of positive coronavirus vaccine
The recent stock market rally may have boosted your 401(k) balance, but it probably won’t be the silver bullet that secures your financial future. Take a look now at all of your money goals, not just your retirement savings and investments, financial advisors say. Key market averages — the Dow Jones Industrial Average and S&P
When it comes to Medicare, not all vaccines are the same. getty While we await the arrival of the COVID-19 vaccine, it’s a good time to learn about Medicare’s coverage of vaccinations. For example: Sally lives in a small, rural community and sees the one doctor in town. She got her pneumonia vaccination during her first
We are now eight months into the COVID-19 pandemic, and more taxpayers than ever will be facing tax bills that just can’t be paid. Someone who had a great 2019, made a lot of money, and expected to pay the tax due in April of 2020 may have lost it all when the markets crashed.
Buying a home is one of the most expensive things the average person will do in their lifetime. A mortgage is viewed as the default way to finance this purchase, but getting one isn’t always easy, especially for a first-time homebuyer. There are a ton of factors and steps involved in the process, and someone
Beyond Meat CEO Ethan Brown on Tuesday sought to clear the air on his company’s relationship with McDonald’s after shares tanked the day prior on news of the restaurant chain’s forthcoming plant-based line. Beyond Meat investors reacted negatively when the meatless food maker was not named as a supplier for McDonald’s “McPlant” burgers, sending the
U.S. equity futures were flat in overnight trading on Tuesday, amid this week’s rotation out of technology stocks into cyclical names. Dow futures dropped 40 points. S&P 500 futures and Nasdaq 100 futures fell 0.1% and 0.14%, respectively. On Tuesday, the Dow Jones Industrial Average climbed 262 points. Fueling the rally is the hopes of
Sylvester Stallone attends the premiere of HBO Documentary Film “Very Ralph” at The Paley Center for Media on November 11, 2019 in Beverly Hills, California. Rich Fury | Getty Images Sylvester Stallone is auctioning off some of his most prized watches, including two that became famous in his movies. The Academy Award-nominated actor, known for
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
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
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
Economic Security Planning, Inc. Today’s column addresses questions about when a person can receive spousal benefits, whether it’s possible to receive widow’s benefits on the record of a spouse with substantial income who died 11 months after marriage and when divorced spousal benefits can be paid. Larry Kotlikoff is a Professor of Economics at Boston
Loren Ponds Courtesy of Loren Ponds Shortly after Loren Ponds finished her LLM in tax at Georgetown University, she packed up her apartment in Washington and moved to Germany to research international tax under a prestigious, German-funded global fellowship. It would seem like a routine move for an international tax lawyer, especially one like Ponds, who was thinking about
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