Personal Finance
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Office building credit crunch could hit wider U.S. economy, former Deutsche Bank property lender says
Toby Cobb has been in the catbird seat of the commercial real-estate market for decades, holding the reins on who gets loans during boom years, and the cards when things go bust. Cobb was Deutsche Bank’s co-head of U.S. commercial real estate in the run up to the global financial crisis of 2008. In its…
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Credit Suisse shelves purchase of Michael Klein’s investment firm as bank sees $68.7 billion in outflows
Credit Suisse and Michael Klein have ended an agreement for the Swiss bank to acquire boutique investment banking arm The Klein Group, LLC due to its planned takeover by UBS, according to a brief announcement within Credit Suisse’s first-quarter results on Monday. The deal, first announced in February, saw Credit Suisse set to acquire the…
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Opendoor downgraded as mortgage-credit availability plummets
Opendoor Technologies Inc. shares took a hit Monday, as Wedbush analyst Jay McCanless backed away from his longtime bullish call on the provider of home-buying and -selling services, citing a dearth of homes for sale and tightening credit standards. The stock OPEN fell 1.4% in premarket trading, adding to the 9.4% selloff suffered last week.…
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Rent doesn’t have to be a four-letter word for retirees. Here’s when some experts say renting can be a smart move.
This is reprinted by permission from . Some people rent in retirement because they don’t have much choice; they can’t afford to own homes. But financial planners say renting can make more sense than owning in some circumstances, even for retirees who can afford the costs of homeownership. Renting offers flexibility as well as freedom from… Source
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At 55 years old, I will have worked for 30 years — what are the pros and cons of retiring at that age?Â
Dear MarketWatch, I currently own one home, no mortgage with rental income. I own another home that will be paid off the year I turn 55. Both valued at $750,000. I have a 401(k) and other stocks and investments totaling another $750,000. My debt will be all paid by the year I turn 55.  I…
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The cable guy introduced my 90-year-old stepmother to a new ‘friend,’ and she’s gotten fleeced. Am I legally responsible if she ends up destitute?
Approximately five years ago, my 90-year-old stepmother’s cable guy introduced her to his sister because they were both widows, and he said Mom could help his sister out with her wisdom and experience. The sister is 40 years younger than my stepmother and has a history of opioid misuse and gambling. She moved into my…
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‘I still struggle with impulse spending’: Do you need to cut your expenses? These financial influencers found their own novel solutions.
After Allison Baggerly got married and found herself pregnant soon after with her first child, she realized that along with her husband, the couple had over $111,000 in debt, mostly in student loans and car loans. The Houston-based couple, who were both teachers, had debt payments of over $1,400 a month — excluding their mortgage.…
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Worried the IRS is going to audit your tax return? If you make less than $400,000, you can probably relax.
Some clarity is emerging regarding statements from Biden administration officials that no one making less than $400,000 will see higher audit rates by the Internal Revenue Service, which is about to step up its scrutiny of wealthy taxpayers. The Inflation Reduction Act — the tax and climate package enacted last summer — earmarked $80 billion…
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Four simple rules for a happier retirement
This is reprinted by permission from . Slightly more than half of retirees (53%) reported strong satisfaction with their life in retirement, according to the Employee Benefit Research Institute’s 2022 Spending in Retirement Survey. “I firmly believe that one of the ways to be content in retirement or semi-retirement is to stay active and… Source
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Wise up your banking strategies to boost your finances
This is reprinted by permission from . Wondering just how savvy you could be with your bank accounts? Brush up on ways to boost your savings balance and get smarter about banking strategies. Here are five actions you can start today. 1. Overcome account anxiety When was the last time you took a look at…