Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Nov. 9, 2018 / 7:57 PM GMT By Martha C. White The market survived the midterms, and Wall Street seemed reassured that a divided Congress is, at the very least, not a worst-case-scenario for stocks. And after a midterm election cycle marked by acrimony, economists and market analysts are looking to one of the few places on which a divided Congress could find common ground: Making it easier for Americans to save for retirement. “Generally speaking, there’s no reason for business or markets to worry particularly about this Congress,” said Nicolas Veron, a senior fellow at Bruegel think tank in Brussels and the Peterson Institute for International Economics. “I view it as generally benign for the business environment, but with a number of question marks that remain," he said, particularly with regard to trade. A pair of … [Read more...] about How will a divided Congress affect your 401(k) and retirement plans?
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By Brittany De Lea Published August 31, 2018 Personal Finance FOXBusiness Facebook Twitter Comments Print video What Trump's executive order on retirement security means for you 'Everyday Millionaires' author Chris Hogan on President Trump's executive order to boost retirement savings, efforts to get young people to start their retirement plan early and tackling credit card debt. President Trump is expected to sign an executive order on Friday that could affect how you save for retirement. Continue Reading Below The White House said the measure – which directs the Treasury and Labor Department to consider issuing regulations or guidelines – will look at updating the rules on required minimum distributions for retirement plans, in an effort to allow retirees to stash away more money in their accounts for a longer period of time. Under current law, retirees are required to begin withdrawing funds from their retirement accounts … [Read more...] about Trump seeks to update retirement rules, help Americans save more
Jessica Crowley used to dwell on an unpleasant thought. When her children began college, she'd still be repaying her own student loans. But a few months ago, the company where she works announced a new benefit: student loan assistance. Now, New York Air Brake, which makes train control systems, pays Crowley $166 a month toward her student loan balance, which means she'll be debt-free sooner than she thought. "It's going to shorten my loan life by a couple of years," Crowley, 30, said. "It's going to be a big difference." PepsiCo to Buy SodaStream for $3.2 Billion Student loan assistance, which started as a niche offering by a handful of companies, is finding its way into the mainstream menu of workplace benefits. "This is certainly emerging as a new and very important benefit," said David Pratt, a professor at Albany Law School who studies employee benefits. This year, Fidelity began to offer businesses a way to contribute to their workers' … [Read more...] about Student Loan Assistance May Become as Popular as 401(k) Plans
Susan Tompor Detroit Free Press Published 11:00 p.m. UTC Jul 29, 2018 Could President Donald Trump's mounting trade war end up as the undoing of your 401(k)? When it comes to tariffs, no matter your politics, the risk of owning stocks clearly has gone up. Growing uncertainties surrounding U.S. trade policies could lead to reduced profits for some companies, higher prices for consumers, job losses and at the worst extreme could bring on the next recession. While tariffs protect weaker domestic industries from foreign competition, economists note that trade barriers in the long run can be harmful to growth and we're already hearing warnings from automakers and others. The good news: We're not on the brink yet. Many 401(k) plans aren't feeling much of a pinch. It's been a relatively good summer for stocks. The Dow Jones industrial average closed at 24,753.09 points on May 25, the Friday before Memorial Day. The Dow closed at 25,527.07 … [Read more...] about Will your 401(k) feel the squeeze of higher tariffs?
NEW YORK — Carlos Garcia was three years into his first job in technology at Merrill Lynch when he first learned what a 401K retirement savings account was. He was floored when he learned that a colleague had already saved $30,000 in three years, and the company had matched it. The concept of making money off money was foreign to Garcia, an MIT graduate who was born in Texas to immigrants from Mexico. His story is not uncommon among U.S. Hispanics, who lag behind other demographic groups when it comes to saving for retirement. But for Garcia, the episode became the inspiration many years later for Finhabits, a bilingual digital platform designed to make savings and investment accessible for Latinos. Finhabits launched last year into a crowded world of robo-advisers, savings apps, online lending platforms and other financial-technology companies. But it is one of the few aimed at demystifying stocks and bonds for Hispanics, particularly young professionals who have the means to … [Read more...] about New financial apps demystify stocks and bonds for Latinos