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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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Corporate profits hit record high in third quarter amid 40-year high inflation

Corporate profits hit record high in third quarter amid 40-year high inflation

Corporate profits in the non-financial sector hit a record high of $2.08 trillion in the third quarter, even as inflation, at a 40-year high, continues to weigh on US consumers. Inventory and capital consumption-adjusted profits rose $6.1 trillion between the fiscal second and third quarters, the Commerce Department reported Wednesday, continuing a meteoric recovery from …

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Stocks rally on hopes of relief from China's COVID policy.  Here's why economists think investors are too optimistic.

Stocks rally on hopes of relief from China’s COVID policy. Here’s why economists think investors are too optimistic.

Investors rejoiced over China’s latest COVID policy this week after massive lockdown protests erupted across the country, rocking global financial markets, but economists believe markets have placed “too much great likelihood” that the restrictions will soon be eased. China’s National Health Commission said on Tuesday it would step up COVID vaccinations for the elderly and …

Stocks rally on hopes of relief from China’s COVID policy. Here’s why economists think investors are too optimistic. Read More »

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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How two teachers killed a $53,000 debt monster in 3 years

How two teachers killed a $53,000 debt monster in 3 years

This article is reproduced with permission from NerdWallet. In this series, NerdWallet sheds light on people’s debt repayment journeys. This month, Jae Bratton shares how she and her husband focused on erasing debt, fueled by the hope of starting a family. My story of letting go of over $53,046 in debt over two teachers’ salaries …

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Reducing the Fed's balance sheet via quantitative tightening is "a total mistake", says Mizuho

Reducing the Fed’s balance sheet via quantitative tightening is “a total mistake”, says Mizuho

The Federal Reserve’s attempt to shrink its balance sheet through so-called quantitative tightening, or QT, is “a complete mistake,” according to Mizuho’s chief U.S. economist. “There is a non-negligible likelihood that market liquidity will be adversely affected well before the $2 trillion target is reached, preventing the Fed from reaching its target,” said Steven Ricchiuto, …

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Is money a weapon to control your spouse?  This financial abuse can destroy your marriage.

Is money a weapon to control your spouse? This financial abuse can destroy your marriage.

Progress has been slow, but American society’s openness to marriage norms and money issues continues to evolve. Married couples now include the LGBTQ+ community and 38% of breadwinners are women. I share this because gender norms are becoming less normal, which actually means no one is immune to the possibility of a spouse using money …

Is money a weapon to control your spouse? This financial abuse can destroy your marriage. Read More »

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 »