Author: Press Room
Before converting a traditional IRA to a Roth IRA, residents of states with income taxes should review how their states will treat the transactions. Under federal tax law, the owner of a traditional IRA can roll over some or all of the account to a Roth IRA. The amount rolled over will be included in gross income, to the extent of its pre-tax contributions and earnings, as though it were distributed. But the amount rolled over stays in the Roth IRA to compound tax free, and eventually the account can be distributed tax free to either the owner or the…
Every aspect of homebuying has gotten more expensive in the years since the COVID-19 pandemic. Home prices have been hitting new record highs for most months and mortgage rates are still hovering in the high 6% range. All these factors have added up to pricey down payments. The average down payment needed needed for a median-income family to afford a typical home reached $127,750, according to Zillow. Instead of the typical 20% suggested by many lenders for conventional mortgages, prospective buyers are now saddled with a 35.4% down payment in order to make an average home affordable. This down payment…
“The Big Short” traders Danny Moses, Vincent Daniel and Porter Collins are focused on one of their top long bets: gold. “I just don’t think Americans have enough gold in their portfolio,” Collins said on CNBC’s ” Fast Money ” in an exclusive interview this week . The three investors are known for their successful bet against the housing market ahead of the 2008 crisis. Collins, who is co-founder of Seawolf Capital with Daniel, referred to massive central bank buying around the world and the U.S. budget deficit as reasons to buy gold. “If you just think about that one…
This is a developing story. Refresh for updates.NASHVILLE — Former president Donald Trump headlines the biggest bitcoin conference of the year on Saturday afternoon, as the race to capture the votes and the campaign cash of America’s frontline fintech adopters takes center stage in the 2024 presidential contest.The Republican presidential nominee will also host an accompanying fundraiser in Nashville, with tickets topping out at $844,600. In June, BTC Inc. CEO David Bailey, who organized the conference, pledged to raise $100 million and turn out more than 5,000,000 voters for the Trump re-election effort, as the bitcoin sector increasingly turns to the Trump camp for support.Trump taking the main stage to directly…
President Joe Biden arrived at the White House in 2021 at a time of heightened chaos and uncertainty across a country reeling from the pandemic. Biden used his inauguration address to promote unity, in hopes of delivering a nation that’s “stronger, more prosperous, more ready for the future.” But, as Biden has acknowledged throughout his time in office, there’s more work to be done. That task could now fall to Vice President Kamala Harris, who inherits Biden’s campaign promises to rebuild the middle class, invest in infrastructure, boost domestic manufacturing and lower health care costs. Since Harris kicked off her…
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I highlighted Booz Allen Hamilton Holding Corporation’s (NYSE:BAH) strength in the cyber, 5G and AI in defense and civil markets in my previous coverage published in May 2024. The company released its Q1 result on July 26th before the market opened, reporting 10.6% organic revenue growth and a 1.7% operating profit decline. While the company is facing near-term margin pressure, I favor the company’s continued efforts to invest internally to capture the rising demand in defense and civil markets. I reiterate a “Strong Buy” rating with a fair value of $180 per share. Strong Top-line Growth with Weak Margins The…
The Paris Olympics kicked off with an extravagant opening ceremony on Friday night when an armada of boats carried 10,500 athletes along the Seine — the first outdoor version of the spectacle that was expected to be watched by a billion people.However, a shadow was cast over the event by an act of criminal sabotage that hit France’s high-speed rail network in the early hours of the morning that caused nationwide transport chaos. Heavy rain began to fall about 30 minutes into the three-hour show, a nightmare scenario for the planners of the theatrical performance that featured a massive cast…
Ex-FBI agent Peter Strzok reached a settlement with the Justice Department that includes a $1.2 million payout in the lawsuit over the department’s 2018 release of his text messages, his lawyers said Friday. According to court filings Friday, both Strzok and former FBI attorney Lisa Page have finalized their settlements with the Justice Department after alleging the department violated the Privacy Act by releasing to the media texts they exchanged criticizing Donald Trump during the 2016 campaign. Page’s attorneys said they were pleased the DOJ agreed to settle her claims, but did not provide the amount of the settlement. “While I have been vindicated by this result,…
I’ve been the host of The Retirement Answer Man podcast for over ten years now. I try not to overshare my life on the show because the podcast isn’t about me. It’s about you and rocking retirement! Nonetheless, I have dropped snippets about our Colorado relocation journey over the past few years, as the process has taken a lot of unforeseen twists and turns. Recently, I realized that sharing the whole story (even though I find parts of it a little embarrassing) might be helpful to many of you who are in the same situation, either trying to relocate or…
