Retirees face the ongoing challenge of managing their income from various sources, including Social Security, pensions, retirement plans, and other investments. With the responsibility of withholding taxes or making quarterly payments to the IRS, retirees must stay on top of their tax obligations to avoid penalties. One lesser-known strategy that can help retirees cover their
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The recent data released by the National Association of Realtors reveals a positive growth in closed sales of previously owned homes. In July, there was a 1.3% increase compared to June, reaching a seasonally adjusted annualized rate of 3.95 million units. This marks the first gain in five months despite a 2.5% drop in sales
Philadelphia Federal Reserve President Patrick Harker recently voiced his support for an interest rate cut, indicating that a monetary policy easing is highly likely to occur in September. This endorsement came during the Fed’s annual retreat in Jackson Hole, Wyoming. Harker emphasized the importance of a methodical approach to easing and the necessity of signaling
The Danish biotech company Bavarian Nordic experienced a significant 13% increase in its shares following the announcement of better-than-expected earnings. The company reported second quarter revenues of 1.43 billion Danish krone ($213 million) and an operating profit of 420 million krone, surpassing analyst predictions. This positive financial performance has instilled confidence in investors, leading to
The future of Paramount Global remains shrouded in uncertainty as the special committee has decided to extend the “go shop” period by 15 days to review a competing offer from Edgar Bronfman Jr. originally offered $4.3 billion for National Amusements, the controlling shareholder of Paramount. This bid includes Bronfman acquiring a minority stake in Paramount,
After funneling money into pretax retirement accounts, retirees will eventually face mandatory withdrawals in retirement known as required minimum distributions, or RMDs. These withdrawals can trigger higher taxes and pose a challenge for retirees who may not necessarily need the money. However, experts suggest that RMDs present an opportunity to optimize and enhance your portfolio.
Ford Motor recently announced that they are delaying the production of a next-generation all-electric pickup truck at a new plant in Tennessee and canceling plans for a three-row electric SUV. Instead, the company will prioritize the development of hybrid models and electric commercial vehicles. Ford will be focusing on producing a new electric commercial van
The rise of online sports betting has led to significant financial distress among individuals, particularly those who are already struggling financially. A recent study titled “Gambling Away Stability: Sports Betting’s Impact on Vulnerable Households” highlights the negative consequences of the widespread legalization of sports betting. Since the Supreme Court overturned a federal law prohibiting sports
The mortgage rates have experienced a decline for the third consecutive week, which should have been a signal for a surge in refinancing applications. However, this was not the case as there was a notable drop of 15% in applications to refinance a home loan compared to the previous week. Despite this, the volume remains
Lowe’s recently announced a cut in its full-year forecast, citing a decline in quarterly sales and projecting weak home improvement spending for the second half of the year. The company now expects total sales to fall between $82.7 billion and $83.2 billion for the year, a decrease from its previous projection of $84 billion to