Consumers have spent all of their excess savings from the pandemic.  JPMorgan says this is just one reason why stocks are poised to drop

Consumers have spent all of their excess savings from the pandemic. JPMorgan says this is just one reason why stocks are poised to drop

Cavan Images / Getty Images According to JPMorgan, American consumers have spent all of their excess savings from the pandemic. The bank highlighted consumer weakness as one of the reasons stocks are poised to continue lower. “Even with a strong job market, US companies are seeing declining demand and prices as margin pressures persist.” The…

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Warren Buffett, Michael Berry and other big investors revealed interesting portfolio changes this week.  Here are 4 major trades.

Warren Buffett, Michael Berry and other big investors revealed interesting portfolio changes this week. Here are 4 major trades.

Warren Buffett.Kevin LaMarque/Reuters Warren Buffett, Michael Berry, and others made amazing changes to their portfolios last quarter. Buffett’s Berkshire Hathaway invested in homebuilders, while Perry established short-term positions. Companies associated with Dan Loeb, David Tepper, and Stanley Druckenmiller have acquired Nvidia shares. Warren Buffett, Michael Berry and other prominent investors posted eye-catching updates to their…

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More Americans are now 401(k) millionaires

More Americans are now 401(k) millionaires

More people could retire as millionaires. The number of people with $1 million or more saved in their 401(k) accounts jumped 10% from April to the end of June, according to Fidelity Investments. There was also a 13% share of millionaires with IRA accounts held at the company during the same time frame. And it’s…

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I am over 72. How do I avoid the RMD tax sting?

I am over 72. How do I avoid the RMD tax sting?

Stephen Jarvis, Certified Public Accountant I am over 72 years old. What can I do about avoiding the required minimum distribution tax (RMD)? I have a steady stream of other income. Bernie Deferred tax accounts, like 401(k)s and traditional Individual Retirement Accounts (IRAs), are potentially great ways to save for retirement. But they do come…

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