Financial related news.
How long would $1 million last for retirement? In Columbus it’s more than three decades, according to financial technology company SmartAsset. The city ranks second among eight Ohio cities of where $1 million will last the longest in retirement and 74th out of 261 cities. The company calculated the average cost of living for retirees [...]
WASHINGTON (AP) — The Federal Reserve says it expects that the ongoing strength of the U.S. economy will warrant gradual increases in interest rates this year, delivering the same steady-as-it-goes message under new leader Jerome Powell as it had provided under Janet Yellen. The Fed’s projection on rate hikes came with the release Friday of [...]
RICHMOND, Va. (AP) — As Virginia has emerged as a top global market for data centers, tax breaks to attract some of the world’s richest companies to the state have exploded, new records show. Enacted a decade ago, sales and use tax exemptions for the large warehouses full of computers that function as the brains [...]
WASHINGTON — Wall Street has thrown a rather sour welcoming party for Jerome Powell. On Powell’s very first day as Federal Reserve chairman, the Dow Jones industrial average suffered its worst percentage drop since 2011. The selling has raged on in the days since, fueled partly by fear that higher inflation will lead the Fed [...]
WASHINGTON — After nearly a decade of being all but invisible, inflation — or the fear of it — is back. Tentative signs have emerged that prices could accelerate in coming months. Pay raises may be picking up a bit. Commodities such as oil and aluminum have grown more expensive. Cellphone plans are likely to [...]
In the wake of the largest tax overhaul in 30 years that was signed into law last year, some local tax professionals are helping their clients understand the impact on their upcoming tax returns. Most of “the changes in the tax reform bill have been in effect for 2018,” said Mike O’Neill, a certified public [...]
When its come to prosperity of its residents, Ohio ranks relatively low, according to a recent study. The state ranks 35th among the the 50 states plus Washington D.C., according to the Prosperity Now’s scorecard. The state ranks worst in four out of five issues highlighed in the study. Ohio made it in top 10 [...]
NEW YORK — A plunge in stock prices always stings, but this recent one dug deeper because more Americans are participating in the market, particularly older ones. Slightly more than half of all U.S. families own stocks in some way, from workers who got automatically enrolled into their 401(k) retirement accounts to day-traders working their [...]
The economy could experience a $236 billion impact if more Americans simply used all of their vacation time. More than half of Americans fail to do so with 662 million vacation days unusued each year, four million more than in 2015, according to AAA and Project: Time Off, an initiative of the U.S. Travel Association. [...]
Good financial advice can help you achieve your life goals. Bad financial advice can cost you a fortune and leave you worse off than if you had tried to go it alone. Unfortunately, you’re still on your own in trying to determine the good advice from the bad. The U.S. Department of Labor has delayed [...]