Personal finance

I’m 65 and want to retire in 6 months. I have a $125K annuity, plus $100K of money that I’m not sure what to do with. Should I get professional help?

Is a financial planner right for you? Getty Images/iStockphoto Question: I had $225,000 in my 401(k) and then I rolled over $125,000 to an annuity at 7%, as I wanted income. I just turned 65 and want to retire in six months, but I don’t know what to do with the other $100,000. What should …

I’m 65 and want to retire in 6 months. I have a $125K annuity, plus $100K of money that I’m not sure what to do with. Should I get professional help? Read More »

US retail sales were flat in July as inflation takes a toll

WASHINGTON — The pace of sales at US retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously. Retail purchases were flat after having risen 0.8% in June, the Commerce Department reported Wednesday. Economists had expected a slight increase in July retail sales. Still, Wednesday’s …

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Why target-date funds may be sabotaging your retirement

If you’re like most of the 30 million or so people investing in a target-date fund mutual fund inside your retirement account, you’ve likely adopted a set-it-and-forget-it attitude toward your nest egg. That would be a mistake. Consider the findings from two recently published research reports. In one report, New Evidence on the Demand for …

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How much money you’d have if you invested $1,000 a year ago

Target earnings missed the mark after delivery lower than expected profit for the second quarter of 2022. As of the open of trading on Aug. 17, 2022, Target shares hovered around $174 per share. That’s up from a price of about $149 per share at the close of trading a month ago, on July 18, …

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How to start investing if the stock market scares you

The GDP dipped in July, sparking recession fears and scaring many Americans about their financial futures. That fear may even lead some to avoid investing altogether, or to panic and sell current stocks. But it shouldn’t. For first-time investors who may be afraid of the current market, the “Wolfette of Wall Street” Lauren Simmons shares …

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Buffett and Berkshire added big to their bets on Ally, Occidental, Paramount and Activision. But these other 6 stocks also got a vote of confidence.

Warren Buffett’s Berkshire Hathaway Inc. added to nine stock holdings during the second quarter, reduced holdings of four and sold two outright. That’s according to Berkshire Hathaway’s BRK most recent 13F filing with the Securities and Exchange Commission. The company held 45 stocks with a combined market value of $330.1 billion as of June 30. …

Buffett and Berkshire added big to their bets on Ally, Occidental, Paramount and Activision. But these other 6 stocks also got a vote of confidence. Read More »

IRS interest jumps on Oct. 1. How much you’ll get for a missing refund

How to calculate your interest The interest is an annual rate compounded daily, meaning you divide the 6% rate by 365, explained Tommy Lucas, a certified financial planner and enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida. With the average brick-and-mortar savings account paying well below 1%, the IRS interest may sound appealing. However, …

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Least affordable housing markets in the US

There seems to be some cooling off in the housing market. But that doesn’t mean homes are becoming more affordable everywhere. According to RealtyHop’s housing affordability index, many cities in the US are still difficult to afford. Out of the 100 cities in the index, the average American would have to dedicate at least 40% …

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What’s the best way to invest in tech stocks right now? This strategy is working well for one fund manager.

Technology stocks have been rallying for weeks. But there are plenty of arguments that we’re in the midst of a bear-market rally and that more volatility lies ahead, especially for the rapidly growing, but not necessarily profitable, technology stocks that performed so well during the previous bull market through late 2021. Read: Nasdaq bull market? …

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5 ways being single can cost you more

There are plenty of advantages to being single. Among them: You can call the shots in your life without compromise. But being single may cost you more in spending, savings and benefits than being in a relationship with someone who shares in life’s financial obligations. The glaring exception, of course, is if you partner with …

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