The Federal Reserve on Thursday voted to require large banks to preserve capital by suspending share repurchases and cap dividend payments in the third quarter. In a 4-to-1 vote, the Fed will tie the distribution of dividends to a formula based on recent income. The formula sets third-quarter dividends atRead More →
Over the past few months, the COVID-19 pandemic has prompted many people to re-examine their living situations. Amid shutdowns, for instance, having easy access to open space — or a backyard at the very least — emerged as a new priority for many. Meanwhile, the economic turmoil accompanying the pandemic gave city-dwellers reason toRead More →
Dear Catey, My wife and I are 58. She will retire at 62 and I at 67. Our annual retirement income at 67 will be approximately $95,000 from Social Security, pensions and investments. We would like to find an affordable, friendly place to rent during the winter months, that isRead More →
Anxiety and trepidation have replaced full-throated excitement among New York City’s businesses preparing to reopen on Monday. “There was a sense of relief and anticipation about getting back to business,” said Tom Grech, president and CEO of the Queens Chamber of Commerce. “But the events of the last five-to-seven daysRead More →
Dear Moneyist, My spouse hides his money and all of his investments are hidden. I have lived in Boston since 2006. I moved from New York and gave up my job of 16 years because we got married and I relocated, leaving my two adult children, who were 21 andRead More →
While investors may be tired of hearing how virus-complacent they are, as stocks keep busting records, our call of the day from Goldman Sachs is saying exactly that. “In the nearer term…we believe the greater risk is that the impact of the coronavirus on earnings may well be underestimated inRead More →
Amazon CEO Jeff Bezos is reportedly paying $165 million for a palatial Beverly Hills mansion, and, according to SEC filings, with that sum the Amazon AMZN, -0.70% founder could have footed the entire 2019 federal tax bill his company is planning to pay this year. He’d have $3 million leftRead More →
Dear Moneyist, For most of his life, my father has lived a life of crime and drugs. He threw away every opportunity we gave him, financial or otherwise. He was never really around besides the odd note written on yellow legal paper that I would get from time to time,Read More →
It was a goddess that inspired Sunny Bertollini to move to Italy. The 50-year-old herbalist, and her husband, Mark Hinshaw, a 72-year-old retired architect, had been coming to Italy on vacation for years. On one trip, they visited an ancient temple to Salus, a Roman goddess of health and well-beingRead More →
As the COVID-19 spreads and the patient count and death toll grow, economists are slashing their once-rosy expectations for global growth in 2020. But amid the anxiety, there’s one bright spot in the U.S. that is likely to be immune from the virus fallout. Analysts say the housing market isn’tRead More →
An earlier version misstated the type of SEC filing and annual report. This story has been updated. Getty Images T. Rowe Price called its WeWork investment a “debacle.” “We are ready to declare this a terrible investment.” That’s the blunt conclusion made by a T. Rowe Price Inc. portfolio managerRead More →
Mortgage rates are resting near record lows — and that’s spurring a wave of refinancing activity as Americans look to take advantage of the savings a cheaper interest rate could bring. Refinance loan volume jumped to the highest level since 2013 last week, especially among jumbo mortgage borrowers, on theRead More →
The U.S. central bank should keep its benchmark interest rate unchanged for the time being, as growth is in a good place and inflation should hit the central bank’s 2% annual target, two Federal Reserve officials said Monday. “My own view right now is that we should hold steady forRead More →
More than three years of pre-Brexit uncertainty have taken a heavy toll on the U.K. economy, with gross domestic product some 3% lower than it would have been otherwise, according to most estimates. And the stock market, as measured by the FTSE 100 index UKX, -0.75%, has massively underperformed itsRead More →
iStockphoto The Tanger Outlets in Lancaster County. Shares of Tanger Factory Outlet Centers are rocketing higher even as doubts about the future of bricks-and-mortar retailers continue to plague the company, one of the pioneers of outlet-store shopping. But the big share move upward isn’t because investors have had a changeRead More →
Climate change is making extreme weather worse and, right now, Americans are paying the price. Over the past two years, wildfires in California, floods along the Mississippi River and hurricanes in the Southeastern United States have caused tens of billions of dollars in damage. In 2018, weather-related catastrophes prompted $215Read More →
iStock Bridges connecting Punta Gorda and Port Charlotte. Dear Catey, I am 67 and retired, my wife is 64 and retired. Both of us are in pretty good health, but my wife has some COPD issues that a warmer, healthier climate could definitely improve. Our present combined Social Security incomeRead More →
Dear Moneyist, My wife and I married later in life, and we both had separate properties that we have tried to protect with a prenuptial agreement. We both have wills, and our separate properties should be distributed accordingly upon our deaths. Part of my wife’s separate property was acquired throughRead More →
Just seven days after Dr. Martin Luther King, Jr. was assassinated in April 1968, President Lyndon Johnson signed Title VIII ̶— commonly referred to as the Fair Housing Act —̶ of the Civil Rights Act of 1968 into law. President Johnson considered the law as an homage to the great civil rights leader. Read More →
Retirees have a healthy concern for their health-care options. Health, in fact, is the No. 1 concern for retirees, according to a survey by T. Rowe Price. Indeed, 70% of retirees felt concerned about both their health and the cost of health care heading into retirement, the financial-services firm found.Read More →
Gorgeous beaches, warm weather and no state income tax. These are just some of the perks of retiring in Florida, which is the best state to retire in, according to personal finance site WalletHub, which ranked states on metrics like affordability, quality of life and health care. Other research alsoRead More →
The U.S. housing-market crash a dozen years ago is evidently ancient history for many mortgage lenders. Mortgage underwriting standards have eased considerably in the past couple of years; one of the largest U.S. mortgage originators now offers a jumbo mortgage of up to $1 million with only 10% down ifRead More →
Dear Moneyist, My mother died about 15 years ago and the only asset she had was her home. I was living there at the time, and had taken out a loan on the home with her knowledge. I married and moved out, and my son and his family eventually movedRead More →
Dear Moneyist, My husband and I live in Minnesota. My husband’s only child lives in Tennessee with her husband and their daughter. They both have very good incomes. I am an only child and, when my parents die, I will have no family at all. When I married my husband,Read More →
Bloomberg News/Landov Boston Fed President Eric Rosengren Despite the benign environment, the Federal Reserve is actually in uncharted territory and should be alert to potential risks to the outlook, said Boston Fed President Eric Rosengren on Monday. “Private forecasters and [Federal Open Market Committee] participants anticipate a good outcome forRead More →
