As you know the retirement investment landscape is ever-changing as discussed with the proposed Secure Act. Make sure you know the rules so you don’t unknowingly cross the line and subject your account to penalties. There’s a reason they make this stuff confusing. Here Fidelity explains what you can do with an old 401(k): Key takeaways 4 options for an old 401(k): Keep it with your old employer, roll over the money into an IRA, roll over into a new employer's plan, or cash out. Make an informed decision: Find out your 401(k) rules, compare fees and expenses, and consider any … [Read more...]
Growing Up Must-See TV and the Soul of America
Growing up must-see TV was Thursday nights with The Cosby Show. Next Thursday’s must-see TV will be the Joe Biden show as the Democrats will debate for three hours. “Biden will be on stage, taking incoming missiles for 180 minutes from nine rivals, each of whom is hungry for the Democratic nomination and has a huge investment in seeing him stumble and fall,” writes Pat Buchanan at TAC. It’s hard not to feel bad for Sleepy Joe. And to see the truth in what PB writes. Because it may be a long night for Joe. “If he stumbles that night, misremembers or misspeaks repeatedly in the … [Read more...]
Here’s How China’s Hacker Army Steals Up to $600 Billion from American Businesses Each Year
Secret arms of the Chinese military have been tasked with stealing the secrets of American businesses using a variety of hacking methods, some off the shelf and some sophisticated. Evidence collected by the office of the U.S. Trade Representative suggests that the cost of all that theft could be between $225 billion and $600 billion. Bill Gertz reports at The Washington Times: Beginning in the 1990s, the Chinese used large-scale cyberattacks in support of a larger industrial policy of building up the country’s science and technology business and military sector. 3PLA is China’s … [Read more...]
Another Legendary Investor Sounds the Alarm on Investments that Have Taken Over Nearly Half the Stock Market
I warned investors last year to heed the words of Vanguard founder Jack Bogle when he sounded the alarm on index funds. Now, Michael Burry, whose story was immortalized in The Big Short as one of the first investors to call the subprime mortgage crisis, has echoed Bogle's warning. CNBC's Yun Li reports Burry has said of the bubble in index investing "the longer it goes on, the worse the crash will be." She writes: Low-cost passive vehicles have gained popularity on Main Street. Passive investments have now taken over nearly half of the stock market as more investors shun stock pickers and … [Read more...]
Tucker Carlson Survives Media Assault
Despite a nearly monthlong media assault on Tucker Carlson, using misinterpretations of Carlson's words in an attempt to drive sponsors and viewers from his show, it appears he has survived. Ratings for Carlson's show in August were not significantly affected, reports Mediaite: Tucker Carlson has come under intense scrutiny in the past few weeks, and has lost advertisers, following his recent comments dismissing white supremacy as “not a real problem in America” and saying the concern about it is a “hoax.” The controversy has not significantly affected Carlson’s ratings, though. He … [Read more...]
Take it from the Forty-Niners, There’s a Better Way to Play Marijuana Stocks
In 1848, there were around 1,000 non-native people living in California. By the end of 1849's Gold Rush, there were over 100,000 living in the territory. By 1852, those settlers had found $2 billion worth of gold in the area. Despite the fortunes made by gold, most of the forty-niners weren't successful. The Sacramento Bee reports that "one in every five miners who came to California in 1849 was dead within six months." Legend has it that the people who really made money during the Gold Rush weren't the many prospectors who spent their time panning and digging for gold, but those who sold them … [Read more...]
You Could See the Trump Flags Flying BIG Time this Summer
And I mean BIG TIME. When it comes to boating, especially sportfishing, it takes some serious money. You need some bucks to buy a sportfishing boat. You’ve realized some major success in your business to own a sportfishing boat. Walking the piers up and down the Eastern Seaboard this Summer, you saw “Trump” flags flying proudly from the sportfishing outriggers all summer long. These are not poor folk. They plow huge money into their sport which, in the Fall, becomes tailgating at either college or NFL games—where you’ll also see the Trump flags flying. You’ll like this … [Read more...]
Survive and Thrive September: As Our Family Celebrates Babson’s 100th, a Reminder on How to Make Money
Dear Survivor, Recently Becky and I had the pleasure of attending Babson’s Summer Reception in Newport. Hosted by Mary and Thomas Gilbane, Jr., it was an opportunity for the entire Babson community in Rhode Island to get together and speak with Babson’s new President Stephen Spinelli MBA ‘92. Spinelli as President makes this year for Babson—it’s 100th—even more special. As you may know, Babson has played a special role in our family with Becky’s dad Richard Young ’63 (a former trustee), brother Matthew Young ’92, Becky ’94, and me ’94 all graduates of the college. Seeing and … [Read more...]
There’s No Owner’s Manual for Life, But Here’s One Strategy for Getting Through
You can feel the tension building up in my house as we head into Labor Day Weekend. Because for us, school hasn’t started, so the harsh, cold reality of the end of summer hasn’t hit us yet. But it will. Like a ton of bricks. At 6:00 am Thursday. That’s when my daughter begins her senior year of high school, and my son will be a sophomore. I’ve been singing “It’s the Most Wonderful Time of the Year” like the guy happily shopping for school supplies in the Staples commercial. They tell me to “just stop.” It’s hard knowing that at this time next year, my daughter will be off to … [Read more...]
Young Americans Enjoying the Fruits of the Trump Economy
Americans aged under 35 are happier with their paychecks now than they have been since 2011. The Wall Street Journal's Lauren Weber reports: American workers under 35 report being happier with their paychecks than people over 55 for the first time since at least 2011, according to a new report from the Conference Board, a business-research organization that polls U.S. employees about workplace satisfaction. Overall, the share of workers satisfied with their paychecks rose to 46.4% in 2018, from 43% in 2017, an increase that mirrors federal data showing that wage growth accelerated in 2018. … [Read more...]
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