An estimated 63 million Americans receive a Social Security check each month, according to the Social Security Administration (SSA). That’s more than one in six individuals. For some, it represents their primary source of retirement income. If you’re banking on Social Security to supplement what you’ve saved in a 401(k), IRA, or another qualified retirement
Investing
President Donald Trump holds a campaign rally in Dallas, October 17, 2019. Jonathan Ernst | Reuters As stocks close out 2019 with potentially the best gain in decades, strategists expect Wall Street’s bull market to continue in 2020 as long as it appears President Donald Trump will be re-elected. Analysts see the possibility of a
The Santa Claus Rally Defined In 1972, Yale Hirsch, a stock market analyst and author of the annually published book titled “Stock Trader’s Almanac,” identified and named an apparent stock market anomaly. He called it the Santa Claus rally because it usually occurred during a six-session stretch beginning with the first trading session after Christmas
Ready to Retire? If you’re considering retiring early, you’ll forego not only the headaches of working but also the additional earnings that could have made your retirement even more comfortable. Make sure you’re truly ready before you leave. Key Takeaways Start debt-free, with a healthy retirement account that will support your extra years not working. Make
Donald Trump Carlo Allegri | Reuters President Donald Trump’s stock market stacks up well against the majority of his presidential predecessors. The S&P 500 has returned more than 50% since Trump was elected, more than double the 23% average market return of presidents three years into their term, according to data from Bespoke Investment Group
In 2007 the rules were changed to allow non-spousal beneficiaries of 401(k) and other defined contribution retirement plans to treat these accounts in a similar fashion. Inherited IRA Basics Spousal beneficiaries of an IRA have the option of taking the account and managing it as if it were their own, including the calculation of required
Market Moves The market closed higher, breaking new territory in all major indexes for yet another day. One might think that this market could be summed up by a slogan on a coffee mug that reads “Keep Calm and Buy More.” And yet the Volatility Index (VIX) ended the day with a slight increase over
Wall Street veteran Byron Wien won’t release his legendary 2020 market surprises until January, but he offered one that didn’t make the cut Tuesday on CNBC. “Watch gold in 2020,” the vice chairman of private wealth solutions at Blackstone said on “Squawk on the Street.” “It has a chance to be an interesting investment.” Wien,
Market Moves Stocks, bonds, currencies, and commodity markets traded nearly unchanged during the hours of yesterday’s abbreviated session at the New York Stock Exchange. The price of silver and gold were notable exceptions, however, as these markets broke significantly higher. The price of silver rose nearly 2%, while gold increased by 1%. This small price
Properly Planning for Retirement Any mental health professional will tell you that comparing yourself to others isn’t good for peace of mind. However, when it comes to retirement savings, having an idea of what others do can be good information to know. It can be hard to determine how much you’ll need, exactly, for your
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, April 17, 2013. U.S. stocks sank, erasing yesterday’s rally, amid losses in industrial metals and disappointing results from Bank of America Corp. Scott Eells | Bloomberg | Getty Images By one measure, the shift to passive investing
While 2019 proved to be a strong year for most segments of the financial markets, the transportation sector was one of the rare exceptions that seemed to trend sideways instead of upward. As the New Year approaches, active traders and long-term investors alike are taking the opportunity to look over their portfolios and make necessary
From new mergers to changing regulations, 2019 has been a busy year and it shows no signs of slowing down. So what can the industry expect to see in 2020? To shed some light on the changes that lay ahead, it’s important to look back at the most significant events of the year and how they’ve
Todd Combs, portfolio manager and investment officer of Berkshire Hathaway Inc., arrives for the morning session of the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Friday, July 12, 2019. Patrick T. Fallon / Bloomberg / Getty Images Geico, the auto insurer owned by Berkshire Hathaway Inc, on Monday named
Making spousal individual retirement account (IRA) contributions is an important way to build up a married couple’s retirement nest egg if only one spouse is employed. Individuals without income from jobs generally aren’t eligible to contribute to tax-advantaged retirement accounts, such as IRAs, because they don’t have “eligible” compensation on which to base such contributions.
The rising cost of college tuition has created a world in which many college students have to seek out loans for school. The problem is, sometimes federal loans aren’t enough. And private student loans are awarded in part on credit and income, two things most college students have had time yet to build. It’s a
dimid_86 | Getty Images Where some see a mark of regret, Soliton sees a market opportunity. As more and more tattoo-bearing millennials age into their 30s, dermatologists are experiencing an uptick in tattoo regret syndrome. However, tattoo removal treatment has remained largely the same for decades, an expensive and painful procedure that can lead to
College is the first time many young adults get to exercise their “adulting” skills, so it can be frustrating if they’re not able to be free of help from other adults when obtaining loans for college. For starters, the application for federal student loans requires you to enter your parents’ income unless you can be
What Is Estate Planning? Estate planning involves making plans for the transfer of your estate after death. Your estate is all the property that you own. It can include cash, clothes, jewelry, cars, houses, land, retirement, investment and savings accounts, etc. Estate planning usually has several objectives and goals, which include: Making sure most of
Traders work on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange. Bryan R. Smith | AFP | Getty Images (This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click .) Many Wall Street analysts
Market Moves The U.S. stock market averages closed higher today, with large-cap stocks outpacing most other asset classes including small-cap stocks. This kind of move has become so common over the past few months that investors appear to be considering it the new normal. The Volatility Index (VIX) inched lower, although still maintaining its subtly
In general, 401(k) plans and 403(b) plans are very similar—both are defined-contribution retirement plans offered by employers to employees. The primary difference between the two is the type of employer that typcially sponsors them and the investment options. The 403(b) plan is offered to employees of tax-exempt organizations, such as charitable organizations and public schools.
Democratic presidential candidates do not seem particularly concerned about Americans’ retirement savings accounts, CNBC’s Jim Cramer said Friday. “I listened to the Democratic debate last night. None of those candidates, I find, is really interested in your 401(k),” Cramer said on “Squawk on the Street.” Seven candidates qualified for Thursday’s primary debate in Los Angeles,