Financial News

KEY POINTS As inflation creeps higher, many retirees worry about their nest eggs. Retirees may fight inflation by shifting portfolio assets and their mindset, financial experts say. But some advisors aren’t making significant changes to clients’ core portfolio allocations. Rising inflation has startled many retirees, who now worry about outliving their savings. The consumer price…

In just a few weeks, millions of families will start to receive monthly payments from the federal government through its new, expanded child tax credit. For Marla Snead, 52, the money will mean the world. Snead and her youngest daughter, Carlee, 14, live in Chesapeake, West Virginia – her eldest, Kelsie, is 22 and out…

The calendar has turned to July 1, and that means one thing: It’s time for Mets fans everywhere to wish each other a Happy Bobby Bonilla Day! Why? On Thursday, 58-year-old Bobby Bonilla will collect a check for $1,193,248.20 from the New York Mets, as he has and will every July 1 from 2011 through…

Stock market myths can be disastrous to your financial security. Don’t let these ones wreck your retirement. We all go through life believing in myths. Believing some of them may not hurt us too much — such as the myth that we all need to drink eight cups of water a day. (There’s no one-amount-fits-all…

KEY POINTS Wednesday’s forecast showed 13 members of the Federal Open Market Committee believe the Fed will increase rates in 2023 and the majority of them believe the central bank will hike at least twice that year. In fact, seven of the 18 members see the Fed possibly increasing rates as early as 2022. The…

The Philadelphia Fed finds historic price surges. The Federal Reserve is still printing money and holding short-term interest rates near zero, and today brings yet another signal that too little money is not the problem in the U.S. economy. This new report suggesting that the time for emergency monetary policy is over comes from within…

Macro Alert From the Office of the Global Chief Investment Officer, Scott Minerd Inflation Is Spiking, But You Only Reopen the Economy Once Core CPI jumped to 3.0 percent year-over-year in April, the fastest pace since 1996. While the base effect from low readings in April 2020 was widely expected by markets, the monthly pace…

NFL players like Warren Sapp, Vince Young, Bernie Kosar, Clinton Portis, and Lawrence Taylor made multi million dollar fortunes playing football, and then lost it all. Alvin Kamara is part of a new generation of superstars who refuse to make the same mistakes. Maybe you have heard the statistics about professional athletes losing entire fortunes…

The IRS released its interpretation of the SECURE Act’s rules for post-death payouts on IRAs and surprised everyone — and not in a good way! THE 10-YEAR RULE One of the big changes in the SECURE Act was the elimination of the stretch IRA for most non-spouse beneficiaries. It was replaced with the “10-year rule,”…

Freddie Mac says gap has widened significantly in past two years as builders struggle to keep up The U.S. housing market is 3.8 million single-family homes short of what is needed to meet the country’s demand, according to a new analysis by mortgage-finance company Freddie Mac. The estimate represents a 52% rise in the nation’s home…