Personal Finance
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U.S. stocks open higher as S&P 500 attempts exit from bear market
U.S. stocks opened higher Wednesday, attempting to extend Tuesday’s rally and push the S&P 500 index to a fresh high, after closing at the highest level since last August, with investors weighing the economic outlook, after data shows U.S. trade deficit widened sharply in April. How are stock-index futures trading? The Dow Jones Industrial Average…
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How can community banks compete with industry giants for deposits? Here’s what to know.
If you want to understand how community banking works in the U.S., it is important to know something about the Federal Home Loan Bank system. The FHLBs have gotten more publicity than usual this year because of the roles two of them played in providing short-term financing to four troubled banks. Those include Silvergate Bank…
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Americans may have to start working younger and retire older. That might be a good thing.
“The demographic clock is ticking for the West.” China announced earlier this year that for the first time since the 1960s, deaths outnumbered births and its population slipped in 2022 by 850,000 to 1.41 billion. COVID-19 brought this event forward a few years. More fundamentally, the legacy of China’s now-abandoned one-child policy and the high cost of raising…
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Why another cut to AAA U.S. credit rating could derail the stock-market rally
Two days before the United States faced the possibility of running out of enough cash to pay all its bills, President Joe Biden on Saturday signed legislation that temporarily lifted the nation’s debt ceiling, averting a potentially catastrophic first-ever default by the U.S. However, some investors still remained worried about a potential second U.S. credit…
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10 facts about the U.S. version of the ID.Buzz, VW’s electric retro-inspired microbus
At a world premiere June 2 in Huntington Beach, California, Volkswagen VWAGY, -0.03% took the wraps off the long-awaited production version of a new U.S.-spec microbus, officially called the ID. Buzz. This 3-row electric minivan has been described as “the spiritual reincarnation of the microbus, reimagined for our electric future” by Volkswagen of America boss Pablo…
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These are the places American travelers are headed this summer
This article is reprinted by permission from NerdWallet. U.S. travelers are still hungry to travel, despite the potential of an economic slowdown. The number of U.S. passengers flying to international destinations in April increased 28% compared with the same month last year, according to the International Trade Administration. “Demand is strong this summer for international…
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No news is not good: Retirees are filling the news hole where local papers have shut down
When the giant publishing chain Gannett shut down its money-losing weekly print newspaper the Brookline Tab last year, I joined many others around the country living within an area with minimal or no local news coverage. Gannett GCI, -11.11% still has an online version here in Brookline, Massachusetts, but it has pivoted to a regional model and…
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‘I’m 62 and ready for my golden years’: I’ve $1.7 million in annuities, Roths and index funds. Can I afford to never work again?
I’m going to preface this by saying that I know I am in a great long-term position. It’s the short term that is of concern. I am 62, single with no dependents. I own my smallish home outright and it’s worth $1 million due to the location. I own my car outright and I have…
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Cash-back credit cards vs. travel-rewards cards: Which one gives you the most bang for your buck?
Hello and welcome to Financial Face-off, a MarketWatch column where we help you weigh a financial decision. Our columnist will give her verdict. Tell us whether you think she’s right in the comments. And please share your suggestions for future Financial Face-off columns by emailing our columnist at [email protected]. Vacation season is here and it’s…
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‘I’m 63 and desperately hate my work’: Should I pay off my mortgage, claim Social Security and quit my job?
Dear Quentin, I’m 63 and desperately hate my work. I’ve had the same job for the last 19 years and every day I’m there, I just want to quit. I have $330,000 in cash and investments, $30,000 in my employer’s retirement fund and a remaining mortgage of $83,000. The payment (including property taxes) is $1,255…