Opinion: No ‘soft landing’ is in the cards from Fed rate hikes. Look for recession and a buying opportunity once stock prices decline.
Is the bear market of 2022 over? Are we already in the early innings of the next great bull market? The S&P 500 SPX, -0.16% finished 2022 with a 19% decline (its biggest pullback since 2008). Meanwhile, the Dow Jones Industrial Average DJIA, -0.26% lost 8.8% and the Nasdaq COMP, +0.13% tumbled 33%. It’s been […]
Want an ‘average’ retirement lifestyle? You’ll need more than $1 million — sometimes a lot more — in these cities.
It now takes retirees more than a cool million to fund an average lifestyle in nearly 40% of the 384 U.S. metropolitan areas. Nationally, retirees would need an average nest egg of $1.07 million. Meanwhile, a retiree in San Francisco needs nearly $1.37 million, a study by LendingTree found. That’s the highest figure in the […]
Pinterest reportedly lays off about 150 workers
Pinterest Inc. reportedly laid off about 150 workers Wednesday, becoming the latest tech company to cut jobs amid economic worries. Bloomberg News reported the cuts affect less than 5% of Pinterest’s workforce, and came across multiple teams. “We’re making organizational changes to further set us up to deliver against our company priorities and our long-term […]
‘As he reminds me, it’s not his house’: My boyfriend lives in my house with my 2 kids, but refuses to pay rent or contribute to food and utility bills. What’s my next move?
Dear Quentin, My boyfriend and I come from completely different backgrounds. I am in my mid-30s and he is 40. We both own our own homes, and had a life built prior to meeting. We have now been together for five years and we have lived only at my house for the last 2.5 years. […]
I ruined my family’s finances by withdrawing from my 401(k) to buy a house — and I regret it
I recently made a panic decision to withdraw all my money from one retirement account and I am now closing on a house in February (about $200,000). I am 36 years old, married and have a 1-year-old. Half of me is regretting it, and I’m worried about next year’s taxes due to the withdrawal and […]
The effects of inflation may be felt for decades to come: Americans are hitting pause on retirement savings
Most of us are feeling the pain of inflation now, but the rising cost of almost everything may be impacting our future selves as well: People are cutting back on saving for retirement as a result of inflation. The majority of Americans say current financial issues are more pressing than preparing for the future. Two […]
Retiring early can trigger financial shortfall
Retiring three years earlier than expected significantly increases the chances of not meeting retirement income needs, putting greater emphasis on the benefits of working longer or working part time in retirement years. Each year of early retirement before age 65 significantly increases the chance of running out of money in retirement, according to new research […]
‘He claims it’s his home’: My mother left her Florida house to all of her children. Our brother lives there — and has no plans to move. How do we get him out?
Dear Quentin, My mother passed away three years ago and left the house to my brother, my sister and me. What little was left in her bank account was distributed among the three of us. Our brother is still living in the family home. He pays the taxes, insurance and utilities to live there. The […]
This 72-year-old is hoping to fund her retirement on GoFundMe
GoFundMe campaigns have been raising piles of cash for older Walmart workers who want to retire — but the heartwarming stories about sudden windfalls mask a dark reality about economic security and growing old in America, say retirement experts.“This is not a feel-good story, this is about the failure of our retirement system,” said Teresa […]
My mother excluded me from her will — before she died, my sibling cashed out her annuity policy, on which I was a beneficiary. Should I sue my family?
Dear Quentin, My mother recently passed away and I was written out of the will, except for a small amount. She and I had several disagreements over the past two years. This change of will occurred 15 months prior to her death, with her executors present. The remainder of her estate is being divided between […]