Month: June 2022

Tetra Images | Tetra images | Getty Images If you’re still recovering from the tax sting of larger-than-expected mutual fund payouts in 2021, it’s never too early to prepare for future distributions, financial experts say. Mid-year capital gains distributions aren’t common, especially in a bear market year, said Russel Kinnel, director of manager research for
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Fstop123 | E+ | Getty Images Tax breaks designed to boost retirement savings may primarily benefit higher earners, leaving middle-class workers behind, according to a report from the National Institute on Retirement Security. With most Americans receiving less than half of preretirement income from Social Security, many rely on employer-sponsored savings plans and individual retirement
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Westend61 / Josep Rovirosa | Getty Images Social Security beneficiaries saw the biggest cost-of-living adjustment in about 40 years in 2022, when they received a 5.9% boost to their monthly checks. Next year, that annual adjustment may even go as high as 8%, according to early estimates. That is despite the fact the annual Social
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Topline Markets moved higher on Monday as stocks tried to rebound from a losing week; investor sentiment rose thanks to positive news out of China which looks to be easing coronavirus lockdown restrictions and regulatory crackdowns on its tech sector. Key Facts Stocks attempted to rebound from last week’s losses: The Dow Jones Industrial Average
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Traders on the floor of the NYSE, June 3, 2022. Source: NYSE Stock futures were little changed Monday evening after a sleepy day of trading as investors await key inflation data due out later in the week. Futures tied to the Dow Jones Industrial Average inched higher by 0.01%. S&P 500 futures and Nasdaq 100
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NAACP President Derrick Johnson Courtesy: NAACP At the end of May, word circulated that the Biden administration was leaning toward a student loan forgiveness plan of $10,000 per borrower. Officials at the NAACP were livid. The association’s president and CEO, Derrick Johnson, said in a statement soon after the news broke that $10,000 “in cancellation
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It’s time for the annual ritual of understanding and interpreting the Social Security trustees’ report. The 2022 report analyzes and summarizes the latest actuarial status of the trust funds that support Social Security’s retirement and disability programs, as well as the fund that supports the Hospital Insurance (HI) portion of Medicare. Let’s look at two
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Elon Musk has a “super bad feeling” about the economy. JPMorgan’s Jaime Diamond forecasts an “economic hurricane.” Both claims are counterfactual. The economy’s super hot, inflation’s temporary, the Fed’s not slamming on the breaks and reversing QE, to the extent that happens, will surely be benign. Larry Kotlikoff is a Professor of Economics at Boston
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Zoom In Icon Arrows pointing outwards Source: CNBC The CNBC Supply Chain Heat Map for China, which is gradually easing Covid lockdowns, is showing several hot spots slowing down trade flow in recent days. China’s “zero Covid” measures on trucking and cross-city transport limitations continue to slow down manufacturing and logistics. The decrease in completed
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