Personal Finance

The Year Of The Retail Investor Keeps Getting Bigger

Retail investors will have their say on the stock market this year, and the recent GameStop and AMC Entertainment stock squeezes were only the beginning.

According to JPMorgan’s global markets strategist, Nikolaos Panigirtzoglou, retail investors have invested nearly $500 billion into equity funds this year…Click for full article.

Oil Rally Continues On Bright U.S. Economic Data

Oil prices rose early on Wednesday, driven by brighter economic prospects for the United States and continued recovery in oil demand in America and elsewhere in the world.

As of 9:04 a.m. EDT on Wednesday, ahead of the weekly inventory report by the U.S. Energy Information Administration (EIA), WTI Crude was up 1.04 percent at…Click for full article.

Warren Buffett Resigns from Gates Foundation, Donates $4.1 Billion

Warren Buffett said he is stepping down from his role with the Bill and Melinda Gates Foundation, noting in a statement that he has been an “inactive” trustee of the organization. His decision to step down comes at an uncertain time for the foundation as the Gates last month announced they are divorcing after 27 years of marriage.

“For years I have been a trustee — an inactive trustee at that — of only one recipient of my funds, the Bill and Melinda Gates Foundation (BMG),” Buffett wrote in the statement. “I am now resigning from that post, just as I have Click to read full article.

 

I remember my very first time walking into a Costco store. I was curious but also a little bemused by the displays, and I didn’t know quite what to make of the throngs of oversize shopping carts that had formed around a table of sweatpants. As a kid, I went on trips with my mom to our local BJ’s Wholesale Club, but this wasn’t the same. On top of that, years of carless, walk-up-apartment living in New York had altered my idea of what shopping was. Many suburban Americans swore by Costco, but I just didn’t get it. Why were diamond rings placed next to packages of sunscreen? And who is buying this many pickles? It was like standing in the center of Disney World during spring break, except instead of kids flocking to costumed characters, very eager grownup customers had swarmed a Costco worker offering samples of pot stickers.

It wasn’t long before I, too, began buying the sweatpants, the sunscreen, the pickles and the pot stickers.

Whether it was my move to the suburbs that inspired my appreciation for Costco or the other way around is a real chicken-and-two-dozen-pack-of-eggs question. For the more than 2 million other Americans who became first-time homebuyers last year — especially the large numbers of millennials for whom low interest rates and remote-work flexibility made homeownership attainable — a Costco Wholesale Corp. membership might be their next addition. The Costco team, led by CEO Craig Jelinek, has done everything it can to make it a necessity. And its success at doing so has been a boon for the company and its shareholders.

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How to retire a millionaire

 

Retiring a millionaire isn’t as farfetched as it may seem. With a bit of saving, investing, and a proper plan, you can be well on your way to hitting $1 million — or more — by the time you reach retirement age.

In fact, the number of retirement millionaires have reached record levels, according to data from Fidelity Investments, the nation’s largest provider of 401(k) savings plans. Retirement savers with a 401(k) balance of $1 million or more increased to 365,000 during the first quarter of 2021, while the number of those with an IRA with a balance of $1 million or more jumped up to 307,600.

Here’s how you can retire a millionaire:

Saving is the key to reaching almost any financial goal, especially if you want to retire with a million-dollar portfolio. But the trick isn’t necessarily how much you save, but when you start.
“One of the huge keys to success here is to take advantage of your biggest asset: time,” said Tony Molina, CPA and senior product specialist at Wealthfront.
Most experts recommend contributing at least 10% to 15% of your income to your retirement fund. But if you’re not able to contribute that much, don’t let that discourage you. Saving any amount can put you significantly ahead in reaching your retirement goals, thanks to compound interest.