Tag Archives: Business and Economy

It’s Up To The World: Pay For The Global Goals Or Buy Everyone A Latte

From NPR News

The U.N. is raring to go. This weekend, it ratified the 17 Sustainable Development Goals, which aim to solve a lot of the world’s problems by the year 2030, from ending extreme poverty to guaranteeing equality for all.

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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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Watch an Elite Financial Adviser Hack His Own Retirement

Michael Kitces could drive a hot new car, work out in a high-end gym, and relax in a sprawling house. He can afford it. He just doesn’t want it.

What does the 37-year-old financial planner, a partner and director of research atPinnacle Advisory Group, want? To save enough so that he doesn’t need to earn any income from his work.

And when he reaches that point, he’ll probably just keep working—and driving his Kia Spectra, which just turned 10.

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Top Tips for a Tax-Conscious Retirement

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President Obama’s American Taxpayer Relief Act introduced a whole new set of rules for high-net-worth clients beginning in 2013. Among other things, the law raised the highest marginal tax rate from 35% to 39.6% as well as increased the tax rate on long-term capital gains and dividend income from 15% to 20%. Itemized deductions and personal exemptions were also pruned under the new law for couples making over $250,000 per year.

Certified Financial Planners and Certified Public Accountants have begun implementing a number of strategies designed to mitigate these higher tax rates on high-net-worth individuals. From managing tax brackets to timing IRA conversions, these strategies can help extend the life of a nest egg. These strategies have been evolving over time as the tax code changes, while becoming increasingly necessary due to higher tax burdens on the wealthy. (For more, see: Asset Protection for High-Net-Worth Individuals.)

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Here’s How Inflation Has Eroded American Workers’ Overtime Eligibility

Sheila Abramson serves customers of Langer's Delicatessen in Los Angeles in 2013.

Sheila Abramson serves customers of Langer’s Delicatessen in Los Angeles in 2013.
Kevork Djansezian/Getty Images

President Obama is once again poised to go it alone on labor policy, this time on overtime. The Labor Department is expected in the coming weeks to release a rule making millions more Americans eligible for overtime work — currently, all workers earning below $455 a week, or $23,660 a year, are guaranteed time-and-a-half pay for working more than 40 hours a week. The law may raise that as high as $52,000,Politico reports.

The rule would also change the regulations outlining which employees earning above that threshold are eligible — currently, employers can exempt some employees above that threshold if those workers could be considered “white collar.”

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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 Wants Rules That Force Brokers To Put Clients’ Interests First

President Obama wants to change the way brokers and investment advisers offer financial advice, saying the current system leads to high fees that erode returns on investments.

At present, brokers work under the suitability standard. This, in essence, means that while making a recommendation, brokers must reasonably believe that a product is “suitable” for a client. The Obama administration wants to change that. It wants to impose what is known as a fiduciary duty on brokers. That means the brokers would have to put their clients’ interests over their own.

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Stocks Are Battered As Oil Hits Another 5-Year Low

Today was another big day for energy news: Oil prices fell to a new five-year-low, below $61 per barrel on world markets; the U.S. said its supplies of crude oil increased last week; and OPEC said it expected lower demand next year.

The news prompted a selloff on Wall Street. Jim Paulson, chief investment strategist at Wells Capital Management, tells our NPR’s Newscast unit investors fear global economic tumult.

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San Diego Schools Honored For Pledge To Technology In The Classroom

iPads, iPhones, interactive whiteboards.

Who could have imagined how technology would shape almost every part of our lives? Students have no trouble adapting to the tablets instead of books and interactive technology is adding a whole new dimension to teaching. Many schools in San Diego County are not only keeping up. They’re leading the way by incorporating technology in their teaching. And it’s having a positive impact on student learning and possibly leveling the playing field for education.

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San Diego Youth And Their Parents Invited To Get First-Hand Look At Juvenile Hall

The San Diego public is invited on Saturday, May 18 for a behind-the-scenes look at the Kearny Mesa Juvenile Detention Facility.

The annual open house is an opportunity for parents and their kids to see firsthand what it’s like to be a detainee.

Visitors have the chance to follow the path of youth who are admitted to Juvenile Hall, beginning in the courtroom where a judge orders the youth detained, followed by the booking process and living quarters.

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