Category Archives: Economy

Here’s How Greece Could Affect Your Retirement Savings

Reaction As Greece Imposes Capital Control

Your 401(k) or IRA will probably be fine

Greek leaders are scrambling to nail down a new bailout dealbefore July 20, when the country would otherwise default on a €3.5 billion bond repayment to European creditors and might be forced to abandon the Euro currency altogether.

As recent stock performance in the U.S. suggests, fears of what a so-called “Grexit” could do to Europe’s economy has spread to American shores. Indeed, U.S. markets may very well be choppy for at least the next several weeks until there’s more certainty about the future.

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Out Of The Classroom And Into The Woods

Children enjoying outdoor education.

(Philby Illustration/Corbis)

Kids in the U.S. are spending less time outside. Even in kindergarten, recess is being cut back. But in the small town of Quechee, Vt., a teacher is bucking that trend: One day a week, she takes her students outside — for the entire school day.

It’s called Forest Monday.

Eliza Minnucci got the idea after watching a documentary about a forest school in Switzerland where kids spend all day, every day, out in the woods.

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Pressure To Act Unethically Looms Over Wall Street, Survey Finds

Stock prices

Alan Schein Photography/Corbis

A new survey of financial professionals tends to confirm the widely held belief that the financial industry has an ethics problem.

Among the more than 1,200 financial professionals in the U.S. and Britain who were surveyed, about half the respondents believe their competitors in the industry have behaved unethically or illegally to gain an advantage in the market.

Ann Tenbrunsel, one of the authors of the study, says that perception, even if it’s just a suspicion, does not bode well for the industry.

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What Happens In Vegas Includes Crowded, Struggling Schools

Students eat lunch at Robert Forbuss Elementary School in Las Vegas. The school, designed for 780 students, enrolls 1,230.

(Students eat lunch at Robert Forbuss Elementary School in Las Vegas. The school, designed for 780 students, enrolls 1,230.
Eric Westervelt/NPR)

Las Vegas is back, baby. After getting slammed by the Great Recession, the city today is seeing rising home sales, solid job growth and a record number of visitors in 2014.stru

But the economic rebound has exacerbated the city’s severe school overcrowding and left school administrators, lawmakers and parents scrambling.

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Where Poor Kids Grow Up Makes A Huge Difference

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In two new studies, Harvard economist Raj Chetty and his colleagues found that where poor kids grow up has a huge effect on how much money they earn as adults.

In one study, families living in public housing were randomly selected to be eligible for housing vouchers that required them to move to low poverty neighborhoods. Kids whose families received the vouchers grew up to earn significantly more than those whose families remained in public housing.

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Obama To Call For Tax Hike On The Wealthy In State Of The Union

President Obama’s State of the Union address on Tuesday will call for higher taxes on wealthy Americans and tax credits for the middle class, The Associated Press reports, citing anonymous senior administration officials.

The proposed tax changes will include raising the capital gains rate on couples making over half a million dollars a year from 23.8 to 28 percent, the wire service continues, and requiring estates to pay capital gains tax on inherited securities.

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Businesses Try To Stave Off Brain Drain As Boomers Retire

Dave Tobelmann worked for 33 years at General Mills before retiring five years ago. Not long after, he returned to the company, this time through a staffing firm specializing in retiree placement.

In the U.S., roughly 10,000 people reach retirement age every day. And though not everyone who turns 62 or 65 retires right away, enough do that some companies are trying to head off the problem.

Dave Tobelmann, who for 33 years developed new products for General Mills, retired five years ago at age 57 — around the same time as a number of other colleagues. “Yeah, I went to a lot of retirement parties,” Tobelmann says.

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California tuition hike fight shifts to Sacramento

SAN FRANCISCO (AP) — University of California President Janet Napolitano prevailed Thursday in persuading the system’s governing board to authorize five years of tuition increases, a politically risky move likely to ignite months of debate to determine if the costs ultimately fall on students or taxpayers.

For Millions Of Millennials: Some College, No Degree, Lots Of Debt

Noelle Johnson has a lengthy commute via bus and metro to her job near Washington, D.C. She's been working toward her B.A. for nine years, and when she finally finishes, she says, she'll be able to afford to live closer to work.

If Noelle Johnson had a bachelor’s degree, she’d be able to live closer to work, she says. She wouldn’t have to spend so much of her free time hustling for babysitting gigs. She’d shop at the farmers market. She’d be able to treat her sister to dinner for once. She and her husband could go on trips together — they’d be able to afford two tickets instead of one.

There are dozens of ways that not having a college degree and dealing with student loans affects Johnson’s life.

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