When it comes to spending money in retirement, there’s one rule of thumb — the 4% rule — that has persisted for decades. The 4% withdrawal rule calls for retirees to withdraw that portion from their investment portfolio in the first year of retirement. In each subsequent year, the amount of those withdrawals is adjusted for inflation. Financial planner William Bengen first identified the ...
Get ready for the next cable-like streaming bundle: Comcast later this month will launch a three-way bundle — with Peacock, Netflix and Apple TV+ — offered at a deep discount, Comcast chief Brian Roberts said. Dubbed StreamSaver, the bundle will be available to all Comcast broadband, TV and mobile customers, Roberts said, speaking Tuesday at MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York. ...
Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month, the company announced Tuesday. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Selipsky after he exits the company on June 3, Amazon said. In a memo to employees, Selipsky said he was leaving AWS after about 14 years to spend ...
At least 99 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain’s long-term future. In a post Monday on LinkedIn, Neal Sherman, founder and CEO of TAGeX Brands, a liquidation firm, announced he was leading the closure of more than 50 Red Lobster locations, with the restaurants’ equipment to be auctioned off. A web ...
Price growth in many key consumer categories has slowed considerably or ceased altogether — but that has done little to dent consumer worries as the costs of housing and other services have continued to climb. Among the broadest categories tracked by the consumer price index, or CPI, two of the ones most acutely felt by consumers — food and energy ...
Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady
Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period. Speaking to the annual general meeting of the Foreign Bankers’ Association in Amsterdam, the central bank leader noted that the rapid disinflation that happened in 2023 has slowed considerably this year and caused ...
The interest rate on many new federal student loans is set to rise to its highest level in more than a decade next year as lenders throughout the economy seek higher returns for borrowing money. On Tuesday, the U.S. Department of Education said in a notice on its website that the rate for undergrads would rise to 6.53% from 5.5%. ...
Georgia’s parliament has passed a controversial “foreign agents” bill despite widespread domestic opposition and warnings from the European Union that its enactment would imperil the country’s chances of joining the bloc. The new law will require organizations receiving more than 20% of their funding from abroad to register as “agents of foreign influence” or face crippling fines. Opponents say that ...
At least 14 people have died and dozens were injured after a huge billboard fell on them during a thunderstorm in India’s financial capital Mumbai, according to local authorities. The billboard collapsed on some houses and a petrol station next to a busy road in the eastern suburb of Ghatkopar following gusty winds and rain late on Monday. Scores were ...
Chanu Gupta has lived in India’s financial capital Mumbai nearly his whole life, since arriving as a child from the northern state of Uttar Pradesh. But when polls open in the city, the 59-year-old street vendor won’t be able to vote in the nationwide election – along with millions of internal migrant workers who are a major backbone of the ...