FORBES- "You'll find some great information."BUSINESS WEEK: "For an Expert, Click here"
“The essence of investment management entails the management of risk, not the management of returns."
The case for caregiving policies for Gen X workers
Bradd Chignoli / ebn
Who are these caregivers? More than half of Generation X workers are caregivers and this number will continue to grow. A full 41% of full-time workers are caregivers, which includes those who provide support for a dependent child, senior or both, according to recent data from a MetLife omnibus survey of 1,000 Americans. Notably, 54% of Gen X (ages 38 to 53) workers serve as a caregiver, and 13% — more than any generation — are serving as a caregiver for a senior.
These numbers are only likely to increase, as an additional 16% of Gen X workers are expected to take on a caregiver role in the next five years, whether taking care of a child or a relative, and 43% of Gen X workers will take on added caregiving on top of their current responsibilities — about half of which will be to take care of a senior.
Why is it important for employers understand the outside-of-work responsibilities of Gen X workers? First, this generation now accounts for a third of the U.S. workforce, or 53 million people, according to Pew Research Center. Further, the workplace has broadly overlooked this generation for the past two decades, instead choosing to fixate on preparing for the waves of baby boomers set to retire and creating a dynamic workplace to attract and retain the influx of millennials.
Meanwhile, Gen X became the least financially secure. MetLife’s 2019 U.S. Employee Benefit Trends study found just 59% of Gen X workers are confident in their finances, compared to two-thirds (67%) of millennials and 65% of boomers.
5/22: Trump effectively shuts down the government. Will this kill the economy? Not really sure but it raises the odds of a recession by 33%. Maybe the odds will change tomorrow.
What a mess.
5/22: Ivy League college offering money programs
More states are recognizing the importance of financial literacy at the high-school level. Nineteen states now mandate high schools to educate students on basic financial knowledge before they graduate, up from 17 states in 2018 and 13 in 2011, according to the Council for Economic Education. These new requirements come as student-loan debt became an urgent national conversation. According to the Federal Reserve, the typical student-loan debt reported in 2017 ranged from $20,000 to $25,000, with total student debt approaching $1.5 trillion in outstanding loans nationwide.
Should you really do nothing amid market volatility? It depends on whether you’re 27 or 63
Younger clients who are investing in a retirement account such as 401(k) are advised to stick to the buy-and-hold strategy during a market downturn, according to this article on CNBC. By doing nothing, they will be taking advantage of the low-cost environment. However, they should hold the money earmarked for near-term expenses in cash or a CD and not in the stock market because of greater risk, says a CFP.
“This means that the next downturn that we have could be more serious and longer-lasting and more difficult to deal with than it would have been if we had constrained these practices,” former Federal Reserve chair Janet L. Yellen
loans. These are giant loans that banks make to heavily
indebted — in financial speak, highly leveraged — companies.
Bankers often have little assurance that the loans can be
repaid, which can make them particularly risky. Bankers earn
large fees off these products, and many banking executives
say their institutions are sheltered from losses because
they sell the loans to other investors such as hedge funds,
mutual funds and insurance companies.
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For five years, European nations have been trying to jump-start their ailing economies with what was supposed to be a radical, short-term remedy—negative interest rates.
No matter which route you decide to take with your retirement portfolio, take the time to develop a thoughtful asset allocation for your retirement savings in retirement, so you don’t toss and turn at night when the stock market is gyrating.
If you use my "Process" above you can just sleep through
any major mess
I simply could not believe it. How could anyone do this?
Probably a bunch of parents believed, if it was on Facebook,
then it must be true
In private Facebook groups, parents describe feeding their children chlorine dioxide, a form of bleach, in a desperate attempt to "cure" them. They describe their children gasping, screaming and trying to escape the treatment — which they see as a sign that it's working.
Now, several moms are infiltrating the groups to fight back — by sending screenshots to local Child Protective Services divisions. "Kids are being abused," said Melissa Eaton, a single mother in North Carolina, who joins the groups in an effort to shut them down. "I'm not the kind of person who can see something like that and just forget about it."
- Venezuela’s oil production plunged to just 830,000 bpd in April, down from 1.2 mb/d at the start of 2019, according to the EIA. OPEC had a lower estimate for Venezuelan oil production – down to 768,000 bpd in April.
- Outside of a 2003 strike by PDVSA workers, which saw production plunge, Venezuela’s oil output is at its lowest point in decades.
- In 2018, production declines averaged 33,000 bpd per month, a rate that accelerated to 135,000 bpd per month in the first quarter of 2019. The rig count fell from 70 rigs in 1Q2016 to just 24 in 1Q2019.
5/21: Junk all over
the last 13 years alone, we've manufactured nearly half
of all the plastic produced in the last six decades A
recent global estimate finds that 5.25 trillion
items of plastic are now in the ocean, which is more than the number of stars in the Milky Way,
5/21: Mutual fund fees
by the financial crisis and recession that struck as they
began their working life, Americans born between 1981
and 1996 have failed to match
other generation of young adults born since the Great
Depression. They have less wealth, less property,
lower marriage rates and fewer children,
according to new data that compare generations at similar ages.
5/20: It's just money
The SEC levies billions of dollars in fines each year, but it doesn’t always collect. Over the five years through 2018, the SEC took in 55% of the $20 billion in enforcement fines set through settlements or court judgments. During the prior five years, it collected on 60% of $14.6 billion. Last year, the agency collected just 28% of almost $4 billion—the lowest rate in a decade. The SEC has struggled for years to get defendants to pay more of their fines, although some are almost certain to avoid payment forever.
perceive the U.S. healthcare system as deeply flawed, even
as the majority of them report they're satisfied with what
they have, according to a survey released Wednesday by
RealClear Opinion Research.
The poll, which surveyed 2,000 people, found that 72% of voters are largely happy with the overall quality of their healthcare, with 20% rating is as "excellent," 52% rating it as "good," 22% rating it as "fair," and only 6% rating it as "poor."
5/20: Mean family net worth
Approximately 17,804,321 lightning strikes were recorded in 2018, an 11% drop from the 10-year average
5/19: Farmers brace for aid. In the absence of a deal with China, the U.S. Department of Agriculture is assembling a farm relief program worth between $15 billion and $20 billion. Many farmers don't think it will be enough.
If all this ends up with a trade deal with China that does
not include a restriction on China regarding company
secrets, it will all be for naught. There is a concern that
Trump might do it just for the sake of a 'deal'.
Overall, according to Zillow, more than 14 million “early” and “middle” millennials nationwide live with their mothers in particular — up from 12.7% in 2000 to 21.9% this year.
That means 14.3 million adults (both men and women) aged between 23 and 27 live with their mothers, which is “not too far off from the number of children under age five who do the same” at 18.3 million,
Only 7.7% of the population had a college degree in 1960, versus 35% in 2018 according to Statista. In 2017, Americans were attending 13.4 years of schooling, which was up from 12.3 in 1990.
And the more time that a person spent on education — especially higher education — meant more debt. Hence the average millennial is now saddled with an average of $390 in monthly student loan repayments for years, which impedes their ability to reach major life milestones such as buying their own home.
early millennial men — aged 21 to 30 in particular — exhibited a “larger decline in work hours over the last fifteen years than older men or women,” due to them playing video games and “other recreational computer activities.”
5/19: On a lighter note:
escalating trade war between the U.S. and China is keeping
oil prices subdued, but the fear premium seems to be growing
by the day as tensions across the Middle East threaten
outages and even war.
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Friday, May 17th, 2019
Oil rose on Friday morning on supply outages and Middle East tensions before trade war fears dragged prices down again. Sentiment continues to swing between fears of weak demand in the wake of the U.S.-China trade war and fears of supply outages due to conflict in the Middle East.
Trump blacklists Huawei, deepening rift. On Thursday, President Trump essentially blacklisted Chinese telecom giant Huawei Technologies from operating in the U.S., escalating the standoff with China. The Chinese government typically offered a cautious tone in response to trade actions from Washington, but Beijing and state media are taking an increasingly strident line, which suggests China is not close to backing down. China’s currency slid on the news, as did the Shanghai Composite Index.
“Ignorance more frequently begets confidence than does knowledge.”
5/19: business cycle for blacks and whites
The business cycle doesn't affect white Americans the way it does black Americans.
The purpose of the present research was to examine the perceptions of women who drink in social contexts through the lens of dehumanization
5/19: Flood insurance:
Even if the FEMA map says your home is in a low-risk zone, your actual risk of flooding may be significantly higher. In Hurricane Harvey in Houston in 2017, for instance, approximately 82% of those who suffered losses were in areas not considered at high risk of flooding, and at least 25% of all flooding happens outside “high hazard” areas.
Women who followed a lower-fat diet rich in fruits, vegetables and grains had a lower risk of death from breast cancer than those who continued their normal, higher-fat diet, according to a new study.The trial involved more than 48,000 women who were randomly assigned to a diet between 1993 and 1998. The new results show a difference in death rates 20 years after the study concluded, the first randomized clinical trial evidence that diet can reduce postmenopausal women’s risk of dying from breast cancer
President Trump has signed an executive order giving the federal government broad powers to block American companies from doing business with foreign suppliers believed to put U.S. national security at risk. Though the order does not immediately exclude specific firms or countries, it comes amid a deepening trade dispute between Washington and Beijing and is consistent with the president’s increasingly aggressive tack against China.
The stretch IRA strategy is an Individual Retirement Account (IRA) in which earnings are allowed to grow tax deferred over a beneficiary's lifetime. If you have an IRA that you do not need for retirement income, you can opt to restrict your withdrawals to the minimum annual distribution required by the Internal Revenue Service (IRS) starting at age 70½. Required minimum distributions are based on your life expectancy and the amount of funds in your account.
If you decide you want to stretch your IRA into future generations, you can establish a trust that allows for the distribution of IRA assets to primary, and possibly secondary, beneficiaries. Upon your death, your beneficiary will be permitted to take distributions over time, based on his or her age and life expectancy. This not only gives the investments in the account a chance to grow and compound, but it also means that income taxes owed on the IRA can be paid over an extended period of time.
If you choose a very young beneficiary, such as a grandchild, the funds in the IRA may compound substantially over the course of a lifetime. Provided the beneficiary does not access funds in the account along the way, due to a disability or other hardship, a considerable sum could amass by the time he or she reaches retirement.
Before you integrate the stretch IRA strategy into your estate plan, it is important to note that this approach does carry some risk. If IRA assets decline in value, or if inflation erodes the value of your savings, the substantial returns for your heirs may not materialize.
Should you live a very long life, it is also possible that the funds in your IRA may not grow because you must continue to take required distributions. If, for example, longevity is on your side and you live to age 95, the amount you leave to a grandchild may be less than if you had passed on a decade earlier.
Keep in mind, too, that a stretch IRA strategy works best when only the required minimum distributions are withdrawn. If your beneficiary were to withdraw additional funds to buy a car or pay the rent, the account could be quickly depleted.
Finally, it is important to consider the tax implications of including a stretch IRA strategy in your inheritable estate. Under the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (2010 Tax Relief Act), the Federal estate tax and generation-skipping transfer (GST) tax, which was repealed in 2010, has an exemption amount of $11.4 million and a top tax rate of 40% through 2019.Despite the inherent risks, a stretch IRA strategy can be a tax-efficient means for passing on savings to future generations. While there is no guarantee that inheriting a stretch IRA can turn your grandchild into a millionaire, it could help contribute toward making his or her retirement more comfortable.