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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrepare for abundant liquidity to broaden opportunities in 2025, says Wells Fargo's Darrell CronkDarrell Cronk, Wells Fargo Wealth and Investment Management CIO, joins 'Squawk on the Street' to discuss the latest inflation data, what the restrictive federal funds rate is, and much more.
Persons: Wells Fargo's Darrell Cronk Darrell Cronk Organizations: Wells Fargo Wealth, Investment Management Locations: Wells Fargo
Fatih Aktas | Anadolu Agency | Getty ImagesThere's a chance a Mega Millions player is on the verge of joining a very short list: winners who snag a jackpot worth more than $1 billion. That's how much you'd win if you were to take the windfall as an annuity paid out over three decades. Between Mega Millions and Powerball, there have been winners of five other jackpots totaling more than $1 billion, including one worth more than $2 billion. If Friday's drawing produces a winner (or winners), the amount would mark Mega Millions' second-largest jackpot ever and the fourth-largest lottery prize in history. That's when the jackpot was reset to $20 million after two tickets sold in Florida and California split a $502 million grand prize.
The Labor Department's report showed U.S. consumer prices grew 6.5% on an annual basis in December, in line with expectations, from a 7.1% rise last month. Markets initially spiked lower after the data, but quickly reversed to edge higher as investors assessed the numbers. Consumer prices unexpectedly fell for the first time in more than 2-1/2 years in December, suggesting that inflation was now on a sustained downward trend. Some Fed policymakers earlier this week signaled the possibility of a 25-basis point hike during the February meeting, if the much-awaited consumer prices data further adds to evidence of a cooling economy. ET, Dow e-minis were up 138 points, or 0.4%, S&P 500 e-minis were up 17.25 points, or 0.43%, and Nasdaq 100 e-minis were up 45 points, or 0.39%.
Scott Olson | Getty ImagesIf you've never had family or friends hit you up for money, that is likely to change if you were to win the $1.1 billion Mega Millions jackpot. It also may make you a target for people who want a piece of your newfound wealth, experts say. When "the inevitable asking for money occurs," she said, "how can you make sure you feel comfortable saying yes or no?" Set up boundaries for money going to family, friendsFor sharing with family and friends, you also should set up parameters, Irwin said. "I think it's helpful to think about under what terms you would gift money," Irwin said.
About 15% of American workers want to retire abroad, according to Dutch life insurance company Aegon's latest "Retirement Readiness Survey." Some retirees are already doing it: As of 2021, around 444,000 retired workers collected Social Security benefits while living in a foreign country, according to the Social Security Administration's latest data. "The U.S. dollar is relatively strong compared to many other currencies, which allows U.S. retirees in those countries to stretch their money further," he adds. Although leaving the U.S. doesn't guarantee a lower cost of living, Little warns, there are several international cities where you can live on just a few thousand dollars per month. For American expats looking to stretch their retirement dollars, here are 10 cities across the globe where the average cost of living is less than $2,000 per month.
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