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401(k) Hardship Withdrawals Hit an All-Time High of 'Worrying', Says Vanguard

401(k) Hardship Withdrawals Hit an All-Time High of ‘Worrying’, Says Vanguard

Amid stubbornly high inflation, a record proportion of Americans are turning their 401(K) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of about five million employer-sponsored 401(k) accounts that Vanguard manages, the researchers said that 0.5% made hardship withdrawals in October. It’s a “worrying” all-time high, said retirement savings and …

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Banks are more than $1 trillion short of capital, analyst says, who fears shortfall will only get worse

Banks are more than $1 trillion short of capital, analyst says, who fears shortfall will only get worse

The new year is fast approaching and one idea for where to invest is the banking sector, whose margins benefit from high interest rates, at undemanding valuations. This statement may surprise those who think that the US banking industry has about $2.2 trillion in capital. But it reduces that figure in several ways. First, he …

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'It wasn't sustainable or real': Tech layoffs approaching Great Recession levels

‘It wasn’t sustainable or real’: Tech layoffs approaching Great Recession levels

The number of layoffs in the tech sector this year is approaching the annual levels seen during the Great Recession, but is far from dot-com-bust territory. As tech companies grapple with falling stock prices, inflation, rising interest rates and a possible recession, they have announced more than 60,000 job cuts this year, with indications such …

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Why China's COVID policies are rattling investors again

Why China’s COVID policies are rattling investors again

Investors in China-related assets who had expected a significant easing of COVID restrictions were disappointed this week as the country battles the worst wave of cases since the outbreak in Shanghai earlier this year. China-related ETFs fell this week, with shares of the iShares MSCI China MCHI ETF, -1.82% lose 3.4%. The KraneShares CSI China …

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“Most economists predict a recession in 2023”: I own a rental property.  Is it the right time to take out a bank loan and renovate or should I wait?

“Most economists predict a recession in 2023”: I own a rental property. Is it the right time to take out a bank loan and renovate or should I wait?

Dear MarketWatch, Along with a sibling, I own a 40+ bedroom rental property in the Caribbean, where we do weekly rentals. It is near the city center but needs repairs and renovations. Is it a good time to go to the bank for a renovation loan? We are also open to changing our business model. …

“Most economists predict a recession in 2023”: I own a rental property. Is it the right time to take out a bank loan and renovate or should I wait? Read More »

My wife agreed to vouch for her son's rental without telling me.  His car was seized for non-payment of his loan.  What should I do?

My wife agreed to vouch for her son’s rental without telling me. His car was seized for non-payment of his loan. What should I do?

Dear Quentin, About four days ago I received an email from my wife’s bank saying that someone had requested her login username through a password reset. When I asked my wife about this she said she forgot her username and was trying to get my stepson access to her online portal so he could download …

My wife agreed to vouch for her son’s rental without telling me. His car was seized for non-payment of his loan. What should I do? Read More »

This state has the best personal finance education in the US - you can tell by its average credit score

This state has the best personal finance education in the US – you can tell by its average credit score

Financial literacy is key to managing money, but how well are states preparing their students? Tennessee tops the list of US states that offer the best financial education to its residents, according to a new report from financial services firm OneMain Financial. More than 99% of public high school students in Tennessee have what is …

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Even JPMorgan bullish strategist Kolanovic says the markets are getting ahead of themselves.  Here's what he and a Goldman strategist say do now.

Even JPMorgan bullish strategist Kolanovic says the markets are getting ahead of themselves. Here’s what he and a Goldman strategist say do now.

A not-so-awful day is looming as the clock ticks down to Wednesday’s retail sales report. But while some investors cling to hope that last week’s stock run could continue, fueled by this weaker inflation report, Wall Street remains wary and fresh warnings from two big banks that make up our call of the day. Late …

Even JPMorgan bullish strategist Kolanovic says the markets are getting ahead of themselves. Here’s what he and a Goldman strategist say do now. Read More »

The floodgates are open to grandparents to save on college for grandkids

The floodgates are open to grandparents to save on college for grandkids

If you’re a grandparent looking to save the day by helping your grandkids pay for college, take a look at a tax-efficient 529 college savings plan before the end of the year. Rule changes to federal financial aid calculations in 2023 mean new investment opportunities are open for family members to help without hurting financial …

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