Personal Finance

Most Americans are wrong about how much they need for retirement

When it comes to retirement, most people say they'd like to spend more time with their friends and family and possibly buy a vacation home and travel the world. That's a tall order for those with little or no nest egg. 

Stocks could retest the October lows before rally resumes, Bob Doll says

Long-time money manager Bob Doll is warning investors that stocks could breach October's correction lows. 

10 crucial steps to take before starting your own business

As an entrepreneur, you wear many hats — visionary, technician and manager. But you must not let the hustle and bustle of your business steer you away from having a solid financial foundation. Showing discipline with your personal finances will strengthen your success with your business finances. A few basic initial steps can be taken when making the transition from employee to entrepreneur. In addition to creating a business plan, you need to begin by figuring out the expected expenses for your particular field. There are also some common expenses for which you can prepare, such as fees to incorporate, costs of bookkeeping software and various forms of insurance you may be leaving behind with your former job. Next, create two spending plans: What your expenses and cash flow look like toda...

Opening Bell: 11.13.18

Welcome to the new Opening Bell from The Water Coolest. We think you’re gonna like it here … Go home, you’re drunk [The Water Coolest] Diageo is divesting 19 of its “value” brands. You know, the ones best served in plastic bottles and consumed before 10 AM under a bridge. The lower end brands (read: the Camel cigarettes of booze) including Seagram’s Canadian whiskey and Goldschlager schnapps will fetch roughly $550M in cash. The buyer? Privately held US spirit maker, Sazerac. Diageo to Sell 19 Brands Amid Focus on Premium Spirits [WSJ] Jho Low can it go? [The Water Coolest] D-Sol and the Terrible, Horrible, No Good, Very Bad Day. Malaysia’s finance minister demanded a full refund for Lloyd’s handy-work on the 1MDB debacle that earned the company roughly $600M. News of the Malaysian governm...

Bidding is on for the most expensive home ever to hit the auction block

The glut of hyperpriced mansions and luxury properties sitting on the market across the country has led sellers to turn to an unlikely solution: auctions. Real estate auctions, once used for foreclosures and distressed sellers, is moving upmarket. The number of multimillion-dollar homes being sold at auction has nearly doubled in the past year, according to real estate analysts and auction companies. The most expensive home ever offered at auction came back on the block this week. The property, called Playa Vista Isle, in Hillsboro Beach, Florida, went on the market in 2014 for $139 million, making it the most expensive home listed in the country at the time. It was later listed for $159 million, then pulled from the market in 2016. It stretches over 58,000 square feet, with 11 bedrooms an...

Starbucks CEO: ‘We’re not immune’ to the trade war, but we’re ‘playing the long game’ in China

Jim Cramer speaks with Starbucks CEO Kevin Johnson, who says that his coffee giant's business in China has been built "in China, for China."

Cramer explains the Apple-led sell-off and what could stop the declines

Jim Cramer unpacks Monday's sell-off and says a combination of seven factors will help the stock market find a bottom.

Goldman’s ‘bear market risk indicator’ signals returns will be zero the next 12 months

Goldman Sachs's bear market prediction tool is at an "elevated" level that has historically signaled a zero average return over the next 12 months and a "substantial" risk of drawdown.

The reasons to be bearish on the stock market now are swamping the bull case

The reasons for investors to be pessimistic are beginning to pile up just as quickly as the market has been sliding down. 

The top three things you’re not doing that are keeping you from becoming rich

Wannabe millionaires are confident, but most are on the wrong track.

Ex-Goldman Banker: $6 Billion Deals Just Don’t Happen If You Tell Compliance About Them

Much to David Solomon’s chagrin, things keep dribbling out about his bank’s involvement in some Malaysian shenanigans, which shenanigans Goldman now acknowledges are likely to prove very expensive for the bank, indeed. The latest comes from the redacted transcript of Leissner’s at-the-time secret guilty plea in August, in which he acknowledges that “other employees and agents of Goldman Sachs” had been in on the whole thing. This we already knew, what with one of Leissner’s underlings also being indicted, another of his former colleagues being rather embarrassingly unindicted, and one former CEO extremely embarrassingly linked to the whole unpleasant game. The statement also includes some music to D.J. D-Sol’s ears, specifically that those rogue agents worked overtime to keep those meddlin...

General Electric gets crushed, again — here’s what three experts say may come next

Shares of General Electric plunged on Monday to their lowest level since March 2009, extending the stock's severe losses from the session prior. As GE briefly broke below $8 per share, experts told CNBC what investors might expect next.