European banks will probably continue to struggle with the loss of investment-banking clients to the U.S., according to New York-based Goldman Sachs. Royal Bank of Scotland climbed in New York trading after Deutsche Bank upgraded the shares to hold from sell, making it the latest European lender to benefit from a boost in analyst ratings.
Category: Personal Finance
Why You Can’t Rely on Social Security Disability Insurance
Most people would agree on the importance of life insurance, but few of us have even considered buying disability insurance — though you’re more likely to be disabled than to die before your retirement age. It’s true that Social Security offers some disability coverage, but that coverage is pretty limited.
Denmark’s Biggest Mortgage Lender Reports 56% Jump in Profit
Nykredit Realkredit A/S, the largest lender operating in the world’s biggest market for mortgage-backed covered bonds, reported a 56 percent jump in profit last quarter after management cut costs and revenue increased. The Copenhagen-based lender said net profit excluding minorities rose to 1.87 billion kroner in the fourth quarter from 1.2 billion kroner a year earlier, according to a statement on Tuesday.
Indian Bank Shunning Corporate Loans Sees Stock Tripling in Year
Indian Bank, a century-old state-owned lender based in the country’s south, has emerged as Asia’s top-performing bank stock in the past year, driven by a focus on consumer loans that are less likely to sour than corporate advances. The Chennai-based firm is aiming to boost retail lending, which includes mortgages and loans underpinned by gold as collateral, to account for 60 percent of its loan book over the next two years, up from 52 percent at the end of December, according to Chief Executive Officer Mahesh Kumar Jain.
Capital One vs. Interactive Brokers: Finding the Best IRA Broker
Individual retirement accounts can be an excellent way to save for retirement. Some offer tax-free growth while others are tax-deferred , but all of them offer more choice in how you invest for the future.
Rates mixed at weekly US Treasury bill auction
Interest rates on short-term Treasury bills were mixed in Monday’s auction, with rates on three-month bills rising to their highest level since late December and rates on six-month bills declining slightly. The Treasury Department auctioned $34 billion in three-month bills at a discount rate of 0.530 percent, up from 0.515 percent last week.
This Massive Bank Is Even Bigger Than It Seems
Not only is it a compelling story, but embedded in it are critical lessons that investors in bank stocks would be wise to internalize if the extraordinary uncertainty pulsing through the markets right now continues. Yet, even though we all know that JPMorgan Chase is enormous , the fact of the matter is that it’s even bigger than it appears.
It’s too late for Trump to stop this financial rule
President Trump on Friday signed a memo asking the Labor Department to review the fiduciary rule, which requires brokers working with retirement savers to put the interest of their clients ahead of their own. Rules and regulations exist to let us know what behaviors we should expect from the people we do business with.
Privatizing Fannie and Freddie Yields 3 Investment Opportunities
If the two government-sponsored enterprises go the privatization route, their stocks will increase. But that option pales by comparison with two superior alternatives.
Emergency Funds: Should You Use Yours to Pay Down Debt?
Financial advisors often recommend clients build an emergency fund and use it only in true emergencies. But what about when you spend hundreds of dollars each month to pay down high-interest debt – is that an emergency? And should you dip into that fund in order to decrease your debt burden? The consumer should build an emergency fund before paying down debt.
Better Buy: HCP, Inc. vs. Ventas
Both have similar property portfolios, pay similar dividends, and have similar long-term strategies. Here’s a comparison of these two REITs, and which one could be the better buy now.
4 Smart Retirement Moves You Can Make Today
Whether retirement is a few years or a few decades down the road, it’s never too early to put some thought into what lies ahead. Here are four things you can do right now to take control of your retirement.
How to remove your name from a house deed after a divorce
The mortgage and deed to my old home are still in my name. I was divorced five years ago.
Investors are worried about Wall Street rollbacks by Trump
President Trump last week signed a “presidential memorandum to delay the Labor Department’s rules that require financial professionals to put their clients’ interests ahead of their own.” Last week, Trump signed a “presidential memorandum to delay the Labor Department’s rules that would require financial professionals to put their clients’ interests ahead of their own,” The Post’s Renae Merle wrote .
The Mortgage-Bond Whale That Everyone Is Suddenly Worried About
Almost a decade after it all began, the Federal Reserve is finally talking about unwinding its grand experiment in monetary policy. And when it happens, the knock-on effects in the bond market could pose a threat to the U.S. housing recovery.
The Mortgage-Bond Whale That Everyone Is Suddenly Worried About
Almost a decade after it all began, the Federal Reserve is finally talking about unwinding its grand experiment in monetary policy. And when it happens, the knock-on effects in the bond market could pose a threat to the U.S. housing recovery.
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Many people look forward to retirement in all of its budget-friendly glory. But in reality, retirement may not be the bargain you’d expect it to be.
What is the Standard Deduction For 2017?
The standard deduction for 2017 is $6,350 for single taxpayers and $12,700 for married taxpayers filing joint returns. However, there’s a chance it could change before next tax season, and no matter where it ends up, you may be better off not claiming it.
3 Tax Breaks Homeowners Shouldn’t Forget
There are plenty of good reasons to own a home. Maybe you’re tired of paying rent every month and having no equity to show for it.
Work From Home? This Tax Deduction May Be for You
If you work from your home and have a dedicated home office you use, then you may be entitled to the home office deduction, which could save you hundreds or even thousands of dollars on your tax return. Here’s what the IRS considers to be a “home office,” how much your deduction could be, and how to claim it on your tax return.
Brokers for IRAs: Comparing Capital One and Merrill Edge
There’s no way around it: Where you open an IRA matters to your investment portfolio, and it affects more than the price you pay. Brokers offer different investment menus, research capabilities, and tools to help you plan for retirement.
Bad News: You May Be Overestimating Your Retirement Plans Performance
There’s a reason a dollar invested today is worth more than that same dollar in the future. Thanks to the beauty of compounding , the money you invest today can grow into a larger sum over time as long as you choose the right investments.
Why it’s a good idea to file your taxes early
Tax season is here, and while you have until April 18 to file your return, you may want to think about doing so sooner rather than later. Here are a few expert tips on why: Identity theft is a growing problem and one often tied to tax refund fraud, said Mark Steber, chief tax officer at Jackson Hewitt Tax Service.
Here’s the Average American’s Annual Medicare Bill
The short answer is that the average American with “original Medicare” can expect to pay a total of $7,620 out of pocket for healthcare expenses this year. However, that number doesn’t tell the whole story.
Fidelity vs. Merrill Edge: Brokers for Opening an IRA
It’s easier than ever to open an IRA and start saving for retirement. Picking which brokerage firm you should use to open the account is easier said than done, however.
Vanguard vs. Fidelity: Best Brokers for IRAs
Before you open an IRA , it’s smart to shop around for the best broker for your investing style. The brokerage you choose will ultimately affect how much you pay, as well as how many investments you can choose from.
Buying an Annuity for Retirement Makes Sense — Sometimes
The use of annuities inside a qualified retirement plan or IRA has been a controversial practice among financial planners for the past few decades. But new innovations have been added to annuities in recent years, and this has changed the rules of the game in the minds of many planners who once saw annuities as unfit investments for their clients’ retirement assets.
Wall St. lending to Main St. even as many decry Dodd-Frank
President Donald Trump has wasted little time in beginning a push to reverse the stricter banking regulations enacted after the 2008 financial crisis. Trump has branded the Dodd-Frank Act “a disaster” – a regulatory overreach that slowed the economy and stifled lending to consumers and businesses.
Retirement in 2017: 5 Stats Everyone Should Know
If you read the financial news often, you may have heard about the “retirement crisis” many Americans are facing. While it’s true that the average American doesn’t save nearly enough for retirement, the good news is that this is a fixable problem.
New documents show Trump retains direct tie to businesses
New documents confirm that President Donald Trump retains a direct tie to his business interests through a revocable trust now being overseen by one of his adult sons and a longtime executive of the Trump Organization. Trump is the sole beneficiary of the Donald J. Trump Revocable Trust, which is tied to his Social Security number as the taxpayer identification number, according to documents published online by the investigative nonprofit ProPublica.
Trump just took a big step away from Steve Bannon’s views
White House senior strategist Stephen K. Bannon looks on during a meeting at Trump Tower on Oct. 7, 2016. For the first two weeks of President Trump’s administration, it seemed as though White House senior strategist Steven K. Bannon was calling the shots.
The Top Stock You Should Consider for Your IRA
To be clear, there are dozens, if not hundreds of stocks that could make great IRA investments, depending on your risk tolerance and portfolio diversification. One stock in particular that I have my eye on for my own IRA right now is New York Community Bancorp — more specifically, I already own it but am considering adding to my position now that the stock has declined.
Required Minimum Distributions: Do I Have to Take My IRA Cash?
Tax-favored retirement accounts like IRAs and 401 s can save you thousands of dollars in taxes over the course of your career, because they offer tax deferral on the income and gains that your investments produce while they’re inside the account. However, the IRS doesn’t let you get away with tax-deferred growth forever.
Here’s What the Distribution of Wages Looks Like in America
On the basis of gross domestic product, the United States is still the greatest country in the world. The 2015 Global Wealth Report from Allianz found that the U.S. retained 41.6% of the world’s wealth, followed in a distant second by China at 10.5%.
Up to 1.87M Michigan workers’ info may have been compromised
Social Security numbers and other personal information of up to 1.87 million Michigan workers may have been compromised, the state said Friday. The problem stemmed from a software update to Michigan’s troubled unemployment computer system, state officials said.
U.S. Labor Dept. Responds to Trump’s Fiduciary Order
National Economic Council Chairman Gary Cohn, center, and White House Senior Adviser Jared Kushner, right, listen as President Donald Trump speaks while hosting breakfast with business leaders in the Roosevelt Room of the White House. ( The U.S. Labor Department is looking into delaying the implementation date of its new fiduciary rule governing the advice that brokers can give about retirement investments, it said on Friday, after President Donald Trump called for a review that could ultimately lead to scrapping it.
Trump to target long-awaited rule meant to protect retirement savers
FEBRUARY 03: U.S. President Donald Trump delivers opening remarks at the beginning of a policy forum with business leaders chaired by Blackstone Group CEO Stephen Schwarzman in the State Dining Room at the White House February 3, 2017 in Washington, DC. Leaders from the automotive and manufacturing industries, the financial and retail services and other powerful global businesses were invited to the meeting with Trump, his advisors and family.
Americans’ Average Social Security Check at Age 70
If you’re deciding when it’s best for you to claim Social Security, and you’re struggling to figure out the best age, you’re not alone. Millions of baby boomers are fast approaching retirement, and most of them are in the same boat as you.
Do You Know Who Gets Your Assets When You Die?
When most people hear the phrase “estate planning,” they immediately think of a will. However, while a will is often the cornerstone of an estate plan, there are certain types of assets it does not control, including insurance policies, individual retirement accounts, 401 s, and similar retirement accounts.
Workers contributing more to, borrowing less from 401(k)s
A rare doubleshot of encouraging news on retirement savings: Workers are contributing more to their 401 accounts, and they’re taking out fewer loans from them. So says Fidelity, which looked at how 14.5 million savers are behaving in retirement plans that it administers.