Personal Finance
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Retired doctor known as the ‘yellow man’ sentenced for selling toxic chemical as weight-loss drug that killed customer
Retired New Jersey doctor William Merlino spent his golden years selling weight-loss drugs online. But the problem was that the pills he sold were made from DNP, or dinitrophenol, a chemical used as a herbicide or wood preservative that is toxic for human consumption, federal prosecutors said. He compounded and pressed the pills himself in…
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Almost half of today’s working households are at risk of a lower standard of living in retirement
The Center for Retirement Research first released its National Retirement Risk Index (NRRI) in 2006. The goal was to summarize in a single number the extent to which today’s workers would be prepared for retirement. The Index uses the Federal Reserve’s triennial undefined to compare projected replacement rates — retirement income as a percentage of…
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I want to retire somewhere scenic with low taxes and near a big airport. Where should I go?
I’ll be retiring at 55 in three years with a $60,000 a year pension. Can you help me find an area that meets my requirements and secondary wish list? Driving distance to big airport Great weather for arthritis (I like Las Vegas) Low or no taxes on a pension I will have about $125,000 to…
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Unsuspecting Americans hold ‘billions’ in uninsured accounts, federal agency warns. Here’s what you can do about it.
How much money do you have sitting around in a payment app? The Consumer Financial Protection Bureau issued a warning Thursday that “billions of dollars” stored in these accounts may not be safe in the event of financial distress. Use of non-bank payment apps such as PayPal PYPL, +1.44%, Venmo, and Cash App have rapidly…
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‘Millions of women suffering in silence’: Female workers want menopause benefits, so why are they so rare?
Not enough workplaces recognize menopause as a legitimate reason to take sick days or cover treatment expenses, female employees said in a new report. But most women wish they would, because they suffer from menopause-induced fatigue, loss of sleep and disrupted mental health — and all that has impacted their work life. Only about 14%…
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Mortgage rates rise to highest level in six months. ‘Demand is likely to weaken,’ Freddie Mac says.
The numbers: Mortgage rates inched toward 7% as strength in the U.S. economy prompted investors to expect another rate hike by the Federal Reserve. The 30-year fixed-rate mortgage averaged 6.79% as of June 1, according to data released by Freddie Mac on Thursday. That was up 22 basis points from the previous week — one…
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Who do you blame for high house prices? Nearly half of young Americans point their finger at the government.
[]As the cost of owning a home has skyrocketed over the last few years, some Americans are venting their frustrations by blaming the government for high housing prices. []Nearly 90% of Americans said it’s too expensive to purchase a home right now, according to a survey of 1,386 people in the U.S., aged 46 and…
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Investors are building a record number of homes — solely to rent out. Will this hurt aspiring homeowners?
As aspiring homeowners contend with high mortgage rates, rising home prices, and a low number of homes for sale, the construction of single-family homes built deliberately to be rented is forging full steam ahead as investors bet on rentals. The number of newly built single-family homes being sold to investors to rent, or also known…
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‘We averted an economic crisis’: Biden hails debt-ceiling deal in Oval Office address
President Joe Biden on Friday hailed passage of a bipartisan deal to raise the U.S. debt limit and avoid a government default, addressing the nation from the Oval Office. “No one got everything they wanted, but the American people got what they needed,” the president said. “We averted an economic crisis and economic collapse.” Biden…
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WeQuit: WeWork bonds sink after top executives resign from cash-burning company
WeWork Inc. bonds have been sinking deeper into distressed territory after two top executives left the company on the heels of a complex debt restructuring. WeWork’s roughly $163 million of 7.875% bonds due May 2025 were trading hands at about 45 cents on the dollar on Thursday, down from about 55 cents in mid-May, according…