Personal Finance

Married couples are missing out on this key way to save for retirement

If you’re married, you could be missing out on one way to sock away even more money for retirement. Spousal individual retirement accounts let you save money toward retirement for a non-working spouse. Individuals can contribute up to $5,500 per year to an IRA. If you’re 50 or over, you can contribute as much as $6,500. “That’s $5,500 or $6,500 every year that people are leaving on the table,” said Ed Slott, an IRA expert and founder of Ed Slott & Co. Better yet, there’s still time to make these contributions for 2017, even though the year has ended, Slott said. Those contributions would need to be made by tax day — April 17 — in order to count for last year. “It’s one of the biggest missed opportunities,” Slott said. “People ...

Use these tips to slash your tax bill and maximize your savings

Procrastinators, rejoice: You still have time to cut your 2017 tax bill. We’re officially in the middle of tax season. Filers have until April 17 to submit their returns and pay Uncle Sam. The IRS predicts that it will receive more than 155 million returns this year. More than 7 in 10 taxpayers are expected to scoop up refunds this year, according to the agency. If you’re holding off on sending your return, here’s an incentive to get moving: You only have a few weeks to implement these tax-savings tactics. “The strategies for reducing your tax bill for 2017 revolve around claiming all of the deductions and tax credits you legally deserve,” said certified public accountant Debbie J. Freeman, director of financial planning at Peak Financial Advisors in Denver. &...

Blockbuster movie Black Panther provides these 4 valuable money lessons

“A man who has not prepared his children for his death has failed as a father.” When I watched King T’Chaka’s declaration to his son, T’Challa, in Disney-Marvel’s box-office hit Black Panther, the Dora Milaje warrior spirit in me surfaced and brought forth my financial planner’s spear! This mystical, ancestral scene piqued my curiosity regarding how King T’Chaka’s legacy would unfold in T’Challa’s reign as the new king of Wakanda. Preparing the next generation for leadership includes guidance on managing resources and wealth. This lesson is gender neutral despite the gender-specific reference made by King T’Chaka. In another poignant scene T’Challa’s mother, Queen Ramonda, also affirmed the parental and com...

Surging Netflix stock is downgraded amid worries over its valuation

Stifel lowers its rating for Netflix shares to hold.

Trump tariff would be ‘game changer’ — and could push BlackRock away from positive view on stocks

"Let's make no mistake about it, tariffs are bad economic policy," BlackRock’s Terry Simpson says.

One leading indicator for stocks is flashing a warning sign for the market

Several interesting themes have emerged from the bond market recently, most notably in high-yield bonds.

Investors pile into CVS Health’s $40 billion M&A bonds

Strong investor demand for CVS Health's $40 billion M&A bond gave a shot of confidence to the U.S. high-grade bond market.

The world’s ultra-rich are investing more in cryptocurrencies — even if they may not understand them

Cryptocurrencies have attracted investments from the ultra-rich around the world even though they may lack sufficient understanding of the technology behind the asset class. Around 21 percent of respondents in an annual survey of wealth advisers and private bankers said their clients increased investments in cryptocurrencies in 2017, according to the latest Wealth Report by Knight Frank. “In a separate question, we asked about their understanding of blockchain and there’s still a huge amount of misunderstanding about blockchain,” Nicholas Holt, Knight Frank’s head of research for Asia Pacific, told CNBC on Wednesday. “So, although people are getting on the train about investing in cryptocurrencies, perhaps there’s not a full understanding of what this co...

Donald Trump Proves Immune To Gary Cohn’s Mesmeric Grundle

Welp, it looks like Gary Cohn finally took our advice. The Big Grundle has finally escaped his voluntary bondage as Donald Trump’s National Economic Council Director after what we would generously refer to as “a wet shitshow nightmare” that somehow lasted more than 13 months. A lot of people were aghast when the Number Two at Goldman Sachs took a senior role in the Trump White House because the optics of “Government Sachs” are never popular. But in this White House, Gary Cohn was just what the doctor ordered. He was the guy that made Goldman tick, Lloyd Blankfein’s enforcer, a tough guy that understood markets. Gary might have been a Wall Street animal but he was also animal that understood Wall Street and 1600 Pennsylvania Ave. suddenly looked a lot like a zoo. Suddenly, Gary Cohn was the...

Rise And Fall Of The ‘Zombies’

One of the great ironies of QE is that while the post-crisis monetary policy regime was designed and implemented to reflate the global economy, there are certain places where these policies are actually deflationary. And when you think about it, it’s common sense. If you artificially suppress borrowing costs and distort the supply/demand dynamics in the fixed income market in order to engineer a hunt for yield, what you invariably end up doing is creating a “zombie” dynamic whereby otherwise insolvent companies are kept in something akin to suspended animation by virtue of wide-open capital markets. This is part and parcel of the whole “up the down escalator” dynamic in the oil market. Uneconomic U.S. production was allowed to effectively hibernate during the price downturn thanks in part ...

Because The Universe Is Hilarious And Cruel, Wells Fargo Is Now Being Shamed By Nuns

Sometimes in life, you come across a moment so beautiful and true that you have to just sit back, kiss your fingertips and luxuriate in how amazing life can be. So thank you for this, Bloomberg: Wells Fargo & Co. agreed to publicly report on the root causes that led to a rash of ethical lapses in recent years, a group of investors said.The group, led by the Interfaith Center on Corporate Responsibility and including about 20 religious organizations as well as state officials from Rhode Island and Connecticut, said Tuesday they would withdraw a shareholder proposal on the issue following the bank’s decision. They had sought to put it to a vote at the lender’s annual meeting in April. “Interfaith Center on Corporate Responsibility”? Does that mean…? “They were in a culture where they bel...