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☆ Why Gen Z is feeling so good about money right now
▼ + stars: | 2024-06-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Read previewGen Zers are feeling pretty good about their financial situations right now. That was especially true for younger generations — over 60% of Gen Z and millennials said they were optimistic, compared to less than 50% of Gen X and baby boomers. How Gen Z can feel good about themselves — but still worry about high pricesBI has previously reported that many aging boomers and Gen Xers cannot retire or are struggling financially in retirement. But when it comes to retirement preparation, Gen Z might be ahead of the game. According to a survey last year from the CFA Institute, over half of Gen Z respondents said they were already investing, and 82% of them started doing so before turning 21.

Persons: —, it's, millennials, X, Zers, Charlie Wise, Wise, Gen Zers, Gen Xers, Gen, that's Organizations: Service, Federal Reserve, TransUnion's, Business, TransUnion, Alliance, Lifetime, Income, Social Security, CFA Institute, American Enterprise Institute

☆ A year after a single mom stopped getting $500 a month through Chicago's basic income program, she's still holding down an apartment and making ends meet: 'It was every single thing that I prayed for.
▼ + stars: | 2024-05-23 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Participants across the country have told BI they spent basic income money to pay rent, afford groceries, pay off debt, and support their children. In April, Chicago announced that it will restart it's basic income program. The renewed Chicago program will join a wave of over 100 basic-income pilots that have been launched since 2019. Fisher is still worried about costs, but Chicago basic income gave her 'a brand new start'When Fisher began receiving basic income, she felt immediate relief. With basic income payments, Fisher was able to afford daily expenses and buy the clothes and shoes she and her daughter needed.

Persons: —, Jennette Fisher, Sophia, Fisher, Fisher would've, Teri Olle, Chuck E, hadn't, She's, she's, Chicago's Organizations: Service, Business, SNAP, Economic Security, Chicago, father's Locations: Chicago, City, Economic Security California

☆ Over 100 basic-income pilots have run in US cities. Now states are getting creative to fund no-strings-attached cash payments.
▼ + stars: | 2024-05-21 | by ( Allie Kelly | ) www.businessinsider.com time to read: +12 min

Basic income has become a trending strategy to combat poverty in cities nationwide. ARPA funds have been used to partially or fully fund most US basic-income pilots so far, but funds are set to expire. While philanthropy and nonprofit work have been central to basic-income pilots, they are not always a long-term or large-scale funding solution. More GBI programs are electing to focus on specific groups of participants, like low-income parents with children and foster youth. The program is funded through the Temporary Aid to Needy Families Program (TANF), an existing federal cash assistance program for low-income families.

Persons: —, Michael Tubbs, Tubbs, It's, Tubbs —, GBI —, Marcela Díaz, let's, Díaz, Teri Olle, Olle, John Gillette, Ken Paxton, Dustin Palmer, GiveDirectly, Palmer, Shafeka Hashash, Hashash, Hashah, GBI Organizations: Service, Business, SNAP, Medicaid, Somos Un, Somos Un Pueblo Unido, Economic Security, New, New Mexico House, California Senate, Republican, South Dakota Republicans, ARPA, Pew Charitable Locations: Stockton , California, Durham , North Carolina, Birmingham, Chicago, Antonio, San Antonio, Denver, Seattle, California, New Mexico, State, Mexico, Somos, Somos Un Pueblo, Economic Security California, Arizona, Iowa, Harris County , Texas, Flint , Michigan

☆ Top Wall Street analysts like these 3 dividend stocks for high yields
▼ + stars: | 2024-05-19 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Bearing that in mind, here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. On May 1, the company announced its first-quarter results and declared a quarterly dividend of 48 cents per share, payable on June 28. Following the results, RBC Capital analyst Kenneth Lee reaffirmed a buy rating on ARCC stock with a price target of $22. The company recently announced its first-quarter results and declared a quarterly distribution of $0.405 per unit. Overall, based on the annualized dividend amount of $3.08 per share, the stock's dividend yield stands at 5.6%.

Persons: Wall, Capital, Kenneth Lee, Lee, TipRanks, Devin Dodge, Dodge, Income's, Brad Heffern, Heffern Organizations: New York Stock Exchange, Federal Reserve, Ares, RBC Capital, Ares Credit, Brookfield Infrastructure Partners, Brookfield Infrastructure, BMO Capital, Triton, Dodge, Brookfield Locations: New York City, Asia, Pacific, North America, Europe, U.S, TipRanks

☆ A 62-year-old boomer without a college degree can't land a higher-paying job — and she doesn't see herself ever being able to fully retire
▼ + stars: | 2024-05-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

She anticipates having to work part-time in retirement to supplement Social Security. And I was always counting on Social Security, knowing I can't live on it only, but I just thought it would be more than what it's going to be." Crystal has just over $70,000 in savings, according to documents verified by BI, and she anticipates getting around $1,200 a month in Social Security. AdvertisementIt means that a lot of them will primarily rely on Social Security — and the program is projected to no longer be able to pay out full benefits by 2035 unless Congress intervenes. Related storiesCrystal said that with all of her daily expenses, her finances are strained, and she doesn't think she'll ever be able to fully retire.

Persons: didn't, —, Crystal —, that's, she's, She's, I've, Crystal, they're, Diane Senffner, Senffner, — Crystal, I'm Organizations: Social, Service, Business, Social Security, BI, AARP, Alliance, Lifetime, Security, Bills, Wall, Walmart

☆ A 63-year-old peak boomer said she 'can't even think about retiring' despite having a master's degree and working two jobs
▼ + stars: | 2024-05-09 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Despite having a master's degree, she's concerned about affording rent upon retirement. AdvertisementCathy R., 63, has a master's degree and has worked all her life, though she's very worried for her future. However, even with a master's, she said she couldn't find anything higher-paying than clerical work, as she was constantly told she didn't have enough experience. "How are you supposed to get that experience when all you do is give me clerical work?" "I don't own anything except a car, I always have to rent, but I don't know how seniors on limited income are paying rent," Cathy said.

Persons: Cathy, ALICE, —, Cathy R, she's, We've, ALICE Cathy, hadn't Organizations: Service, Alliance, Lifetime, Income, University of Minnesota, Department of Revenue Locations: Minnesota, Paul, Minneapolis, St

That's because, taken together, the two primary Social Security funds are set to only be able to pay out full benefits through 2035; the Old-Age and Survivors Insurance Trust Fund, one of the main funds comprising Social Security, will start getting depleted in 2033. AdvertisementIn other words, the moment that today's older Gen Xers are ready to retire, their Social Security benefits could start to shrink. Gen Xers — born from 1965 to 1980 — have been deemed the country's "neglected middle child" by the Pew Research Center. And among the different generations, Gen Xers were the most likely to report that they were feeling financially insecure. That could set the stage for the new crop of Gen X retirees to arrive in an already-precarious retirement economy.

Persons: —, Gen X, Xers, Gen Xers —, YouGov —, Gen Xers, X, Gen Zers, Gen, Michele Raneri, aren't, Xer Organizations: Service, Gen, Social Security, Insurance Trust Fund, Business, Security, Pew Research Center, of Congress, Millennials, TransUnion, Survey, Alliance, Lifetime, Income

☆ A 62-year-old employed 'peak boomer' in California makes too much for affordable housing but lives in her car: 'I'll work until I drop'
▼ + stars: | 2024-05-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Cheryl Simmons, a parking lot attendant, lives in her car but makes too much for affordable housing. She lives in her car, even though she makes about $42,000 a year. She makes slightly too much for a single-room occupancy unit in affordable housing and exceeds the income limit for food stamps and other government assistance. AdvertisementSimmons is one of the 30 million "peak boomers" entering retirement age in the next few years, but most are not financially prepared to retire. A new report from the Alliance for Lifetime Income's Retirement Income Institute found that 52.5% of peak boomers have below $250,000 in assets.

Persons: Cheryl Simmons, Simmons, —, she'll, she's, ALICE —, ALICE, it's Organizations: Service, Alliance, Lifetime, Assistance, Food Locations: San Diego, Albuquerque, California, Texas

☆ Americans will lose full Social Security benefits in 11 years, according to the program's trustees — a year later than expected
▼ + stars: | 2024-05-06 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Full Social Security benefits are expected to run out in 2035, per the program's trustees. AdvertisementAs more Americans fear being unprepared for retirement — and rely solely on Social Security — those full benefits might not be long-lived. Meanwhile, among the income that typical retirees do receive, just under 80% see income from Social Security. The latest estimates on Social Security also come as the US economy braces for a "peak boomer" wave of new retirees. That's the biggest group of boomers retiring yet, and, per that analysis, many will end up having to rely on Social Security benefits to stay afloat.

Persons: That's, —, William Arnone, Martin O'Malley, Kevin Hern Organizations: Security, Social Security, Service, National Academy of Social Insurance, Insurance Trust, Disability Insurance Fund, Social, Survey, Alliance, Lifetime, GOP, Republican

☆ A 64-year-old 'peak boomer' worries his savings and Social Security won't be enough to retire: 'My biggest fear is finding myself at 75 standing at the door at Walmart.'
▼ + stars: | 2024-05-03 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Kirsch is hoping to start collecting Social Security checks in a couple of years, just before his 67th birthday. Related storiesFor many, Social Security won't be enough to fill the gaps. As of March 2024, the Social Security Administration said that its average monthly check sent to recipients is $1,774.83. And, if lawmakers don't intervene, the US Social Security fund is set to dry out by the late 2030s. "Start saving and do it as aggressively as you can," he said.

Persons: —, David Kirsch, Kirsch, Hill , New Hampshire —, he's, Kirsch isn't, didn't Organizations: Service, He's, Business, Walmart, Survey, Income, Social, Social Security Administration, US Social Security Locations: Caribbean, South America, Hill , New Hampshire

☆ The 'peak boomer' crisis might only get worse: A fifth of Americans 50 and up have no retirement savings, and the majority are worried they won't have enough money
▼ + stars: | 2024-04-26 | by ( Juliana Kaplan | Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Americans say they don't have enough money for retirement, with a solid chunk having no savings at all. At the same time, the economy is about to see the "peak boomer" generation retire and deplete their savings. Tourangeau is part of a generation of older Americans who don't feel confident in their financial situation. Any of those who leave the workforce to retire may need to rely on any retirement savings they have built. AdvertisementAre you a peak boomer or older American worried you won't have enough money for retirement?

Persons: —, Pam Tourangeau, let's, it's, Indira Venkateswaran, Venkateswaran, Nancy LeaMond, LeaMond Organizations: Service, Congressional Research Service, AARP, Research, Savings, Americans, Federal Reserve, University of Michigan Health, Alliance, Lifetime, Security, Social Security Locations: America

☆ A 63-year-old peak boomer is 'incredibly scared' Social Security won't be enough to cover her expenses in retirement: 'I'll probably need to work until I die'
▼ + stars: | 2024-04-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

She's part of the "peak boomer" cohort, most of whom will rely on Social Security in retirement. I was somebody who did really well, and it's very disheartening because I have no idea what's going to happen with retirement," Senffner told BI. "My husband and I are both a year and a half from retirement age, but I think I'll probably need to work until I die because there's no money." Just Social Security isn't going to cover that." And with the Social Security fund set to dry out by the late 2030s — unless lawmakers intervene — Senffner is "incredibly scared" about her future.

Persons: Diane Senffner, She's, —, doesn't, Senffner, she'll, Diane Senffner Senffner, hasn't, it's Organizations: Social Security, Service, Business, Alliance, Lifetime, Income, Security, Survey, Walmart, AARP

☆ Welcome to 'peak boomer' era: A wave of retirees is about to blow through their savings and cling to Social Security to stay afloat
▼ + stars: | 2024-04-19 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Over 30 million "peak boomers" are entering retirement financially unprepared. This cohort is known as "peak boomers," and per the report, most of them are on track for significant economic headwinds. It's what some have called the boomer retirement bomb — and it might be costly for the rest of the workers in the economy. The peak boomers' retirement wave could also impact the overall US economy. And, per Business Insider's calculations of CPS ASEC data, 79.2% of retirees receive some type of Social Security income.

Persons: —, Robert Shapiro, boomers, Pam Organizations: Social Security, Service, Alliance, Lifetime, Income, Federal Reserve, University of Michigan Health, Commerce, Economic Affairs, Boomers, Consumer Expenditure Survey, CPS

☆ Many retirees don't delay Social Security benefits, research finds. Here's why experts say it pays to wait
▼ + stars: | 2024-04-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

And more than half of that group will primarily rely on Social Security for income, according to new research from the Alliance for Lifetime Income. Deciding when to claim Social Security retirement benefits is a high stakes decision. Eligibility for retirement benefits starts at age 62. But full retirement age – generally age 66 or 67, depending on an individual's birth year — is when retirees may receive 100% of the benefits they've earned. For each year you wait past full retirement age up to 70, you may receive an 8% benefit boost.

Persons: –, they've, Teresa Ghilarducci Organizations: Social Security, Alliance for Lifetime, Social, The New School for Social Research, Alliance, Lifetime Locations: New

☆ Pimco's Sonali Pier lets her 'cautious contrarianism' speak for itself: The bets she's making now
▼ + stars: | 2024-03-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

In this article Follow your favorite stocks CREATE FREE ACCOUNTSonali Pier is a portfolio manager with PimcoPimco's Sonali Pier strives for outperformance. Pier has risen through the ranks since joining Pimco and is now a portfolio manager within the firm's multi-sector credit business. Her father also raised her to value education and hard work, Pier said. Where Pier is bullishRight now, Pier prefers developed markets over emerging markets and the U.S. over Europe. However we can most efficiently express our view and trade that will lead to the best total return," Pier said.

Persons: Sonali, Pimco Pimco's Sonali, Pier, she's, Morningstar, It's, Mike Mulach, Mulach Organizations: Princeton University, JPMorgan, Pimco, Morningstar, Fund, SEC, Bloomberg Global Credit Locations: New York, California, Russia, Ukraine, U.S, Europe, financials

☆ This income-paying asset could be poised to rise in 2024 as interest rates cool
▼ + stars: | 2024-01-02 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +6 min

With interest rates expected to come down in 2024, real estate — a sector beloved for its steady income payments — could see upside in the new year. "When rates are low, a lot of income-oriented investors see that REIT dividend as very attractive, and they are willing to take the risks associated with equity investment to have this dividend payment." Jefferies is neutral on the office REIT sector but has raised its rating on Boston Properties to buy from hold. The senior housing occupancy rate was 84.4% in the third quarter of 2023, according to the National Investment Center for Seniors Housing & Care . That's up more than 6 percentage points from the pandemic low of 77.8%, but it's still off from the pre-pandemic occupancy rate of 87.1%.

Persons: REITs, Kevin Brown, Jefferies, Peter Abramowitz, Morningstar's Brown, it's, Brown, JPMorgan's Anthony Paolone, Ventas, — CNBC's Michael Bloom, Chris Hayes Organizations: Federal Reserve, Treasury, Boston Properties, Boston, National Investment Center, Seniors Housing & Care, Realty Locations: U.S, Boston, Friday's

☆ Cramer's Lightning Round: Realty Income is a buy
▼ + stars: | 2023-11-02 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon Realty Income's year-to-date stock performance. Realty Income : "I still think it's a buy." Stock Chart Icon Stock chart icon Kyndryl's year-to-date stock performance. Stock Chart Icon Stock chart icon Confluent's year-to-date stock performance. Stock Chart Icon Stock chart icon SiTime's year-to-date stock performance.

Persons: Martin Schroeter, It's

☆ Realty Income to buy Spirit Realty Capital in a $9.3 billion deal
▼ + stars: | 2023-10-30 | by ( Kannaki Deka | ) www.reuters.com time to read: +2 min

Oct 30 (Reuters) - Realty Income (O.N) said on Monday it would buy Spirit Realty Capital (SRC.N) in an all-stock deal valued at $9.3 billion as it looks to expand its real estate portfolio. Commercial real estate, especially offices, has been hit by interest rates hikes and workers choosing to stay at home. The combined portfolio is expected to result in reduced rent concentration for Realty Income's clients, while increasing the combined portfolio's annualized contractual rent from $3.8 billion to $4.5 billion, Realty Income said. Wells Fargo is the financial adviser to Realty Income, while J.P. Morgan Securities and Morgan Stanley & Co are serving as financial advisers to Spirit Realty. Spirit Realty primarily invests in single-tenant real estate assets given on long-term leases.

Persons: Sumit Roy, Wells Fargo, Morgan Stanley, Kannaki, Shilpi Majumdar Organizations: Spirit Realty, Realty, Spirit, Morgan Securities, Thomson Locations: U.S, Wells, Bengaluru

☆ Capitalize on once-in-a-generation opportunities in the bond market by making these 5 moves now, according to 6 leading fixed income strategists
▼ + stars: | 2023-10-10 | by ( James Faris | ) www.businessinsider.com time to read: +11 min

Yahoo FinanceHowever, six leading fixed income investors are confident that the pain won't last much longer. Michele continued: "I've been doing this since 1981, so I've seen a decade of double-digit bond yields with disinflation. Alex Petrone, the director of fixed income at Rockefeller Asset Management, agreed that it's too soon to write off a recession. Nailing timing helps maximize returns, though fixed income experts said that's difficult because the Fed's policy decisions are unpredictable. Buying Treasuries and municipal coupons on both the long and short ends of the curve are how she recommends playing fixed income.

Persons: Jonathan Mondillo, you've, Bob Michele, Michele, I've, we'll, Federal Reserve —, Robert Robis, Robis, Alex Petrone, it's, Petrone, Mary Daly, David Schiffman, Roger Aliaga, Diaz, Aliaga, Mondillo, Schiffman Organizations: Yahoo Finance, JPMorgan Asset Management, isn't, Federal Reserve, BCA Research, Rockefeller Asset Management, Fed, San Francisco Fed, Aquila Investment Management, Vanguard's Investment, Investment Locations: Scotland, bottoming, Abrdn, Aquila, Treasuries, CCC

☆ Analysis: Country Garden undone by promise to bring 5-star life to China's hinterland
▼ + stars: | 2023-08-16 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Smaller Chinese cities, whose revenues have already been deteriorating, could have a glut of unfinished homes, a social problem Beijing is trying to avoid. But as China's economy started slowing during and after its COVID-19 lockdowns, property sales in those areas has plummeted along with values of the homes themselves. Country Garden's sales in 2020 were 570.7 billion yuan ($78.22 billion), but that slipped to 357.5 billion yuan in 2022. Country Garden has nearly 1 million homes to complete, according to estimates from Japanese investment bank Nomura.

Persons: Aly, HONG KONG, Oscar Choi, Yang Huiyan, Lu Ting, Nomura, Gerwin Bell, Clare Jim, Liangping Gao, Matt Tracy, Davide Barbuscia, Christian Schmollinger Organizations: Shanghai Country Garden, REUTERS, Country, HK, National Bureau, Statistics, Partners Capital, China Evergrande, Oxford Economics, Nomura, Thomson Locations: Shanghai, China, HONG, Beijing, Dezhou, Hong Kong, Asia, Washington, New York

☆ Cramer's Lightning Round: Stay away from Novocure
▼ + stars: | 2023-06-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Plug Power's year-to-date stock performance. Stock Chart Icon Stock chart icon Nuscale Power's year-to-date stock performance. Stock Chart Icon Stock chart icon LyondellBasell's year-to-date stock performance. Stock Chart Icon Stock chart icon Novocure's year-to-date stock performance. Stock Chart Icon Stock chart icon Eaton's year-to-date stock performance.

Persons: they've, Nuscale, Eaton, Owens, Owens Corning Locations: Eaton

Whether you're self-employed or your employer doesn't offer one, 401(k) plans simply aren't available to everyone. According to financial planners, there are several ways you can keep saving or start saving, even without a 401(k) plan. Financial planner Kenneth Chavis IV of Lourd Murray recommends a Roth IRA for many people who are just starting to save. If you're self-employed, consider a solo 401(k)When you're self-employed, a solo 401(k) should be the first place to go, financial planners say. Advertisement"That's actually one of the best retirement savings vehicles there is if you know how to use it," said financial planner Brian Bruggeman of Baker Boyer Bank.

Persons: Roth, —, Kenneth Chavis IV, Lourd Murray, Chavis, Brian Bruggeman Organizations: Service, IRA, Baker Boyer Bank Locations: Baker

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