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…

Old Dominion beats Estes’ offering of Yellow stations. (Photo: Jim Allen/Free Waves) Old Dominion Freight Line, which has less than a truckload, has entered into a $1.5 billion bid for Yellow Corp.’s terminals. The new show Bid price exceeds $1.3 billion from LTL peer Estes Express Lines, which was revealed in Thursday’s status update. The…

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…

font size The new fund will hold international companies that Vanguard believes will continuously increase its profits. Above, a broker on the Pakistan Stock Exchange on July 31. Radwan Tabassum/Getty Images Investors should note any time a money manager has more than 7 trillion dollars In assets do something new. That includes Vanguard’s move into…

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…

Ask an advisor: help me understand math. How does donating to charity reduce my taxes? If you give $50,000 in cash to charity, does that reduce your adjusted gross taxable income (AGI) by $50,000? So if my adjusted gross income was $100,000, and I gave $50,000 to charity, is my taxable income now $50,000? -invoice…

Single family homes with skyscrapers in the background. The middle class has long been considered the backbone of the American economy. But the American middle class is shrinking. The percentage of adults living in middle-income households in the United States has declined by more than 10 percentage points over the past 50 years1which indicates a…

Smart Established: What is the average retirement income? I wonder how your retirement savings Stack up other Americans’ nest eggs? Or will your income in your post-work years be enough to keep you afloat? It’s only natural to be curious about the average retirement income in the United States. Just remember that you need enough…

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…