Author: News Room
Saving for retirement requires dedication and time. During those years of dedication, however, market movements will make significant jumps that you can then celebrate. And we’re in the midst of such a shift. A recent Fidelity study highlights this very fact. According to a review of Fidelity 401k accounts, the number of participants with over $1 million in assets within the account has increased by 15% in the first quarter of 2024, compared to end of 2023. This is a result of the market moving forward – it’s up 11% through 2024 and 25% over the course of the past…
Former President Donald Trump said he was going to hold a “press conference” on Friday in the wake of his Thursday conviction in Manhattan on felony charges of falsifying business records. Instead, Trump delivered a rambling monologue that was filled with false claims on subjects ranging from the Manhattan trial to immigration to tax policy. Here is a fact check of some of the inaccurate or unsubstantiated claims he made. Trump repeated his familiar claim that, while Manhattan prosecutors have been focusing on him, New York City has been experiencing record-high violent crime. He said this time that “you have…
US President Joe Biden said Israel had offered a new proposal in negotiations with Hamas to free hostages and bring about a lasting ceasefire, as he urged both sides in the conflict to embrace his hopes for broader peace in the Middle East.Biden made the comments in a statement from the White House on Friday, in his most emphatic attempt yet to broker an agreement that would bring an end to the conflict. The move comes after a new wave of international condemnation of Israel’s conduct of the war against Hamas following a deadly strike and ground operations in the…
Investment Summary Regulated energy utilities companies are expected to catch a strong tailwind from the world’s insatiable demand for artificial intelligence (AI). If I think of the American energy landscape, for example, there are large capital outlays required on the infrastructure side. According to Greg Abel at the Berkshire Hathaway 2024 Shareholder Meeting, looking out until the mid-2030s, the underlying energy demand that’s in place with AI and data centres is set to double. If we look beyond the 2030s, Abel says, the underlying demand triples. The return on equity investment achieved by the electric utilities industry in recent years…
Two influential advisory firms have urged shareholders to vote against Elon Musk’s contentious $51 billion pay package and raised concerns about the CEO’s numerous side projects. On Friday, Institutional Shareholder Services called the package “excessive” and noted that shareholder concerns “have not been sufficiently mitigated” since the package was first approved in 2018. While recognizing Tesla’s growth and profitability, ISS said Musk’s pay package — first approved in 2018 and thrown out by a judge in January — “was considered outsized from the start” and has “failed to accomplish certain of the board’s stated objectives,” including focusing Musk “more closely…
Check out the companies making headlines in midday trading: Dell Technologies — The software stock plunged 22% after executives cautioned that its gross margins could face more pressure in 2025. Lionsgate Studios — Shares rose 1% after Citi initiated coverage of the film studio at a buy rating. The bank cited Lionsgate’s decision to spin off its Starz business as a potential catalyst for further margin expansion. Zscaler — Shares added 5.2% after the cloud security company posted a fiscal third-quarter earnings and revenue beat. Zscaler reported adjusted earnings of 88 cents per share on revenue of $553 million, while…
“Donald Trump was given every opportunity to defend himself,” Biden said. “A state case, not a federal case, was heard by a jury of 12 citizens, 12 Americans, 12 people like you, like millions of Americans who served on juries.””This jury was chosen the same way every jury in America has been chosen,” the president said. “Five weeks after careful deliberation, the jury reached a unanimous verdict.”More news on Donald TrumpBiden noted that Trump will have the chance to appeal his conviction after he is sentenced July 11.But the Democrat said “it’s reckless, it’s dangerous” for Trump to argue that…
In an effort to fix administrative issues that resulted in student loan borrowers not qualifying for forgiveness, the Biden administration announced an extended consolidation deadline for borrowers with certain loans. Student loan borrowers have been dealing with errors that inaccurately counted their student loan payments toward forgiveness programs like income-driven repayment (IDR) and Public Service Loan Forgiveness (PSLF). Within these programs, borrowers can have their remaining debt balances forgiven after they’ve worked in the public service sector for so many years or have paid toward their student loans for a set amount of time, typically 20 to 25 years. The…
Affording a home today requires households to earn good money and have a sizeable down payment saved, according to a recent report. Based on the current interest rate of 7.22% over a 30-year mortgage, buyers today would need to earn an annual income of roughly $120,000, plus a 10% down payment, to afford a home, according to the Clever Real Estate report. However, the average American household earns about $45,000 less than that, and many first-time buyers can’t afford a 10% down payment.Household earnings below $120,000 render the $332,494 price tag of median-priced homes in the current market unaffordable, even if…
It feels like everything costs more these days—and some homeowners are looking for ways to increase cash flow without invading retirement assets. One way to do that? Reverse mortgages. Reverse mortgages are a creature of federal law. As part of the Housing and Community Development Act of 1987, the Federal Housing Administration (FHA) became responsible for insuring reverse mortgages. The program was initially designed to “meet the special needs of elderly homeowners by reducing the effect of the economic hardship caused by the increasing costs of meeting health, housing, and subsistence needs at a time of reduced income.” While not…
