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From having a lot of empathy to knowing how to report a scam, experts shared their recommendations for talking about scams:Political Cartoons View All 1239 ImagesKNOW WHICH SCAMS COMMONLY TARGET OLDER PEOPLEKnowing which scams are most commonly used to target older people can help. According to the FTC, common lies by scammers include “I or someone close to me is sick, hurt, or in jail” and “I can teach you how to invest.”Other common scams are investment scams, tech support scams, and impersonation scams. HAVE CONSTANT CONVERSATIONS ABOUT SCAMSOne of the best ways to raise awareness about scams is to talk to each other about them. To keep your older family members safe, Waterman recommends that families talk about scams more often in their day-to-day lives. If you’re looking for guides to avoid scams for older adults, you can find a variety of them on the National Council on Aging’s website.
Persons: Daniel Goldstein’s, hadn’t, it’s, scammers, , Genevieve Waterman, Kathy Stokes, ” Waterman, Waterman, Goldstein, they've, it's, Stokes, , ” Stokes, ’ ”, Charles Schwab Organizations: Federal Trade Commission, National Council, Aging, AARP, FTC, Watch Network, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: scammers,
If you have all or most of your money in a single investment account, you're missing opportunities to build wealth. If you're serious about building wealth, there are seven types of accounts you need to have to make it happen. If you're making estimated quarterly tax payments, you'll need to accumulate funds in your tax savings account as you earn them. Note that a "tax savings account" is not a different banking product — it's just a designated use for a savings account, like an emergency fund would be. (Like the tax savings account, this isn't a different product your bank offers — it's a specific use for an account like a high-yield savings account.)
Persons: , Ally, Charles Schwab, it's, you'll, Roth, you've, It's, Robinhood, That's, We're, There's, I've, multimillionaires, Read Organizations: Service, Roth IRA, Roth, IRA
Investors can't get enough of money market funds these days due to their attractive yields, which are north of 5%. When money market funds work Those who need easy access to cash could benefit from the money market funds' liquidity, which is one of the asset's biggest advantages, Benz said. However, unlike bank savings accounts, money market funds are not insured by the Federal Deposit Insurance Corporation. While money market funds may be yielding more than longer-term Treasurys or investment-grade bonds right now, that isn't necessarily always going to be the case. "Why would someone invest in a 5-year Treasury note when a money market fund is yielding higher?
Persons: Christine Benz, hasn't, Charles Schwab, Hermes, Peter Crane, Benz, Barry Glassman, Glassman, laddering, , Jesse Pound Organizations: Morningstar, Crane Data, Fidelity, Data, Vanguard, Wealth, Federal Deposit Insurance Corporation, Benz, CNBC
Bottom line: Fidelity Investments and Charles Schwab are two of the best robo-advisors for retirement savings, goal-building, and low-cost trading. Fidelity vs. Charles Schwab: The Biggest DifferencesFidelity and Charles Schwab are featured in a number of our guides, including the best brokerages for beginners. Fidelity Investments reviewAutomated Investing With FidelityFidelity offers two different automated accounts: Fidelity Go and Fidelity Personalized Planning & Advice. Charles Schwab Brokerage Account reviewAutomated Investing With Charles SchwabLike Fidelity, Charles Schwab's automated accounts — Schwab Intelligent Portfolios and Schwab Intelligent Portfolios Premium — also include an automated-only account and an automated-plus-advice option. Fidelity vs. Charles Schwab — Frequently Asked Questions (FAQs)Is Fidelity better than Charles Schwab?
Persons: Morningstar, Charles Schwab, Schwab, Charles Schwab's, It's, Fidelity's, you'll, Charles Schwab Charles Schwab, Roth, IRAs, Charles, Charles Schwab —, you've Organizations: Fidelity Investments, Fidelity, Business Daily, screeners, Fidelity Fidelity Investments, Fidelity Fidelity, Fidelity Go, Schwab, Better Business Bureau, & $ Locations: cryptocurrencies, Chevron
Charles Schwab’s Rocky Year in Five Charts
  + stars: | 2023-11-05 | by ( Hannah Miao | ) www.wsj.com   time to read: 1 min
Even the top executives at Charles Schwab will admit 2023 has been a trying year. The largest publicly traded U.S. brokerage just laid off roughly 2,000 employees. An integration of customers from Schwab’s acquisition of TD Ameritrade has been less than smooth for many clients. Widespread concerns about bank-deposit flight sent Schwab shares tumbling this spring—and the stock has yet to recover.
Persons: Charles Schwab, Ameritrade, Schwab
The dollar tumbled after the data, which showed that the U.S. nonfarm payrolls rose by 150,000 in October, lower than the 180,000 predicted and September's downwardly revised 297,000 figure. MSCI's index of world stocks (.MIWD00000PUS) was last up 0.45%, having traded roughly 0.26% higher before the data. It was on track to finish the week 4.5% higher, which would be the largest weekly rise since November 2022. It traded 0.29% lower at 105.89 before the data. Reuters Graphics"Investors will interpret today’s jobs weak jobs report as a sign that demand is slowing in the labour market," said Richard Flynn, managing director at Charles Schwab UK, in emailed comments.
Persons: Androniki, nonfarm, September's downwardly, Richard Flynn, Charles Schwab, BoE, Samuel Zief, Brent, Harry Robertson, Jacqueline Wong, Miral Fahmy, Mark Heinrich, Alison Williams Organizations: Nikkei, REUTERS, Companies, Federal Reserve, Bank of England, Reuters Graphics, Treasury, JPMorgan Private Bank, U.S . Treasury, Thomson Locations: Tokyo, Japan, U.S, Israel
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3 Buys and a bail: Qualcomm, Charles Schwab, First Solar & TargetDelano Saporu, New Street Advisors CEO, joins 'The Exchange' to share three buys and a bail, including Qualcomm, Charles Schwab, First Solar and Target.
Persons: Charles Schwab, Target Delano Saporu Organizations: Qualcomm, Target, New Street
The US could see a $46 billion wave of distressed high-yield debt next year, BofA warned. Higher interest rates could cause defaults and bankruptcies to peak in early 2024, experts warn. AdvertisementAdvertisementThat amounts to $35 billion in those three sectors alone, or around 75% of all high-yield defaults expected next year, strategists said. Federal ReserveExperts have been warning of a wave of defaults and bankruptcies to hit the market, especially as interest rates remain higher-for-longer. Meanwhile, total US bankruptcies and debt defaults could peak sometime in the first quarter of 2024, Charles Schwab estimated.
Persons: BofA, , Charles Schwab Organizations: Service, Bank of America, " Bank of America, HY, Treasury, ICE Bank of America, Federal
The Biden Administration proposes a crackdown on "junk fees" in retirement savings plans. However, high expense ratios in your account may be cutting into your future retirement savings. But there are still some preventive steps you can take to minimize any potential "junk fees" in your retirement savings plan. 4 ways to lower 'junk fees' in your retirement planThe Biden Administration wants to crack down on "junk fees" in 401(k)s and other investment accounts. Until then, here are four steps you can take to lower fees in your retirement savings plan.
Persons: Biden, , Charles Schwab, Robinhood, Judy Diamond's, Roth, it's, Teresa Bailey, Chloe Wohlforth Organizations: Service, US Department of Labor, Biden Administration, Employers, Mutual, Roth IRA, Waddell & Associates, Robinhood, Department of Labor, CFP, Angeles Wealth Management
NEW YORK (AP) — “Junk fees” are just what they sound like: hidden or misleading charges that increase the total cost of concert tickets, hotel rooms, utility bills and other goods and services. Here's what to know:WHAT QUALIFIES AS A JUNK FEE? That should reduce junk fees for financial advice for people saving for retirement. HOW CAN I AVOID PAYING JUNK FEES? HOW MUCH DO THESE FEES COST CONSUMERS?
Persons: Biden, Ariel Nelson, Nelson, , , Lina Kahn, Lael Brainard, Charles Schwab Organizations: Federal Trade Commission, Consumer Finance Protection Bureau, Department of Labor, National Consumer Law Center, Republican, Consumer Financial, Department, Labor, Securities and Exchange Commission, Interest, White, National Economic Council, FTC, Associated Press, Charles, Charles Schwab Foundation, Inc, AP
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou want to invest in self-funding companies that are anti-zombies, says Liz Ann SondersLiz Ann Sonders, Chief Investment Strategist at Charles Schwab, discusses the trading day ahead following the Federal Reserve's rate hiking campaign pause.
Persons: Liz Ann, Liz Ann Sonders, Charles Schwab
Charles Schwab lays off about 2,000 employees
  + stars: | 2023-11-01 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
CNN —Charles Schwab has laid off about 5% to 6% of its employees, amounting to roughly 2,000 people, as it looks to cut costs. “They are decisions that impact very talented people personally, and we take that very seriously,” a spokesperson said. Part of the changes includes evaluating its “real estate footprint, streamlining our operating model, and staffing reductions, largely in non-client-facing areas,” a Schwab spokesperson said. Like other banks, Schwab endured turbulence earlier this year when its bottom line was given a hard look by investors after the collapse of Silicon Valley Bank. Shares of Schwab (SCHW) are down 35% for the year, and up 1% in early afternoon trading.
Persons: Charles Schwab, Schwab, , Schwab’s headcount, Organizations: CNN, Silicon Valley Bank, Schwab Locations: Silicon
Investors have grown more worried about a widening conflict in recent days after the U.S. dispatched more military assets to the Middle East while Israel attacked targets in Gaza and Hamas supporters in Lebanon and Syria. Some investors also expect a widening conflict could prompt safe-haven buying of Treasuries. "However, an escalation of the conflict would likely shift attention away from monetary policy concerns and boost safe-haven demand for Treasuries." The Cboe Volatility index (.VIX) has climbed in the wake of the conflict and rose on Friday, approaching seven-month highs. The Federal Reserve is set to give its latest monetary policy statement on Wednesday, while Apple's quarterly results highlights another busy week of corporate reports.
Persons: Dado Ruvic, , Randy Frederick, Charles Schwab, Brent, Peter Cardillo, Lewis Krauskopf, David Randall, Ira Iosebashvili, David Gregorio Our Organizations: REUTERS, Federal, Hamas, Investors, U.S, Capital Economics, Spartan Capital Securities, UBS Global Wealth Management, Thomson Locations: Gaza, East, Israel, Lebanon, Syria, Treasuries, U.S
Gen Z wants to retire at 61 — years before other generations expect to leave the workforce. They're seeking professional financial advice from family and friends — and are even open to AI. Unlike the gloom and doom stories of Gen X, Millennials, and Boomers, Gen Z fully plans to retire … and do it earlier than everyone else, at the age of 61. Schwab surveyed 1,000 employed Americans participating in 401(k) plans in partnership with Logica Research, plus an additional 100 Gen Zers for statistical significance. The survey also found much of Gen Z is already thinking about retirement plans: 73% of Gen Z respondents want personalized investment advice and help choosing investments for their 401(k)s.And they're willing to let AI provide that help.
Persons: Gen Z, They're, , Gen, , Charles Schwab, Gen Zers, Schwab, Gen X, Zers, doesn't Organizations: Service, Boomers, Logica Research, Gen
Think of your biggest investing success. Maybe it was a mega-sized company whose stock you bought when it was just a startup. There are many reasons why a particular trade might be your most successful, but when asked, investors identify one factor above all others. In a recent client survey conducted by Charles Schwab, 33% of investors attributed their greatest investing success to patience through volatility. As for the biggest culprits behind investors' worst trades: lack of research (20%), bad timing (18%) and high risk (13%).
Persons: Charles Schwab, Mark Riepe, Spenser Liszt Organizations: Schwab Center, Financial Research, Motif, Fidelity
Investors were handed an income opportunity they haven't seen in more than a decade when the 10-year Treasury yield climbed near 5% on Thursday. US10Y 5Y mountain 10-year Treasury A 5% yield on the 10-year is a good value, said Kathy Jones, Charles Schwab's chief fixed income strategist. A real yield is a bond's nominal yield minus inflation. "With the 10-year yield nearing 5%, it could be your sign to pick them up." There is also the Vanguard High Dividend Yield ETF (VYM) , which has lost 2.59% and charges 0.06% in fees.
Persons: Barry Glassman, Kathy Jones, Charles Schwab's, Callie Cox, Schwab's Jones, Amy Arnott, Morningstar, Arnott, Cox, John Croke ,, Jones, Morningstar's Arnott Organizations: Treasury, Wealth Services, LendingClub, Vanguard Locations: eToro
Jeffrey Kleintop warned of a "cardboard-box recession" and a credit crunch for small businesses. Charles Schwab's top global strategist flagged a services slowdown and predicted stubborn inflation. (Kleintop warned that inflation has rarely plunged and stayed flat and low in past cycles, and suggested a period of higher, more volatile price growth was likely.) "We don't know how deep and how broad this is. It's one of those things where you just don't know how many things could get broken when it starts to move."
Persons: Jeffrey Kleintop, Charles Schwab's, Taylor Swift, , Kleintop, Walt, Banks, It's, We've, it's Organizations: Service, Walt Disney, Bloomberg, PMI Locations: , Florida, Japan
That puts the Baron fund in the top 1% of similar funds, according to Morningstar data. 6 stocks Baron is betting onThe first is electric-vehicle maker Tesla (TSLA), one of the star performers of the market being up 135% year-to-date. For example, its 12-month forward price-to-earnings ratio is 58.48, and its PEG ratio is 2.24. Arch Capital has a fairly low 12-month forward price-to-earnings ratio of 11.82, but no PEG ratio is available. The firm's PEG ratio is 2.13.
Persons: Michael Baron, Baron, they've, Baron doesn't, Elon Musk, Tesla, Elon, That's, Charles Schwab, Schwab, he's, FactSet Organizations: Baron Partners Fund, Nasdaq, Morningstar, Partners Fund, Ford, GM, Hyundai, Arch Locations: New York
Retail sales, which are adjusted for seasonality but not inflation, grew 0.7% in September from the prior month. Factoring in September’s 0.4% rise in consumer prices, inflation-adjusted retail sales were up 0.3% last month. From a year earlier, retail sales and food services spending were up 3.8% in September, the strongest annual gain since February. Spending grew across most categories last month, with sales at specialty stores advancing the most, by 3%. Excluding sales at gasoline stations, retail sales still advanced 0.7% last month.
Persons: , BIll Adams, , Adams, US Energy Information Administration “, Liz Ann Sonders, Charles Schwab, Brian Field, Gregory Daco, ” Daco, Joe Biden, Jordan Organizations: DC CNN, Comerica Bank, headwinds, UAW, United Auto Workers, US Energy Information Administration, Hamas, University of, San Francisco Fed, “ Retail, CNN, Employers, Sensormatic Solutions, Services, OPEC Locations: Washington, Israel, Iran
Political Cartoons View All 1211 ImagesThe futures for the S&P 500 and Dow industrials were up less than 0.1%. On Monday on Wall Street, the S&P 500 climbed 1.1% for its best day since the Oct. 7 surprise attack on Israel by Hamas. Financial markets have a history of weakening initially after a geopolitical shock, such as a war, only to revert to longer-term fundamentals. FactSet estimates that earnings per share at S&P 500 companies likely rose 0.4% in the last quarter from a year earlier. Shares of Lululemon jumped 10.3% in their first trading session after S&P Dow Jones Indices said the apparel company will join its widely tracked S&P 500 index.
Persons: Germany's DAX, Dow industrials, Antony, Blinken, ” Robert Carnell, Nicholas Mapa, Brent, , Mark Hackett, Johnson, Tesla, Charles Schwab, Dow Organizations: CAC, Nikkei, Hamas, Dow, Nasdaq, ING Economics, New York Mercantile Exchange, Treasury, Financial, Nationwide, Bank of America, Federal Reserve, Dow Jones, Activision Blizzard, Microsoft, U.S Locations: BANGKOK, East, Paris, Asia, Hong Kong, Shanghai, Australia, Thailand, Israel, Gaza, Lebanon, Iran
Morning Bid: Banks, Biden visit buoy markets
  + stars: | 2023-10-17 | by ( ) www.reuters.com   time to read: +5 min
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Biden leaves later on Tuesday for a high stakes visit to Israel and Jordan and Washington said Israeli Prime Minister Benjamin Netanyahu had agreed to let humanitarian aid reach besieged Gazans. That reversed a pre-weekend 'safety bid' that emerged amid fears an Israeli ground invasion into Gaza could draw other regional countries and groups into the war. Before then, bond markets will have to negotiate tomorrow's 20-year Treasury auction. The relatively new 20-year tenor has often proved unpopular and will be watched closely after a poor reception for the latest 30-year bond last week.
Persons: Brendan McDermid, Mike Dolan, Joe Biden's, Biden, Washington, Benjamin Netanyahu, Wells, Goldman Sachs, Charles Schwab, Jerome Powell's, Vladimir Putin, Xi Jinping, Lockheed Martin, Johnson, JB Hunt, Michelle Bowman, John Williams, Neel Kashkari, Tom Barkin, Luis de Guindos, Joe Biden, Olaf Scholz Organizations: New York Stock Exchange, REUTERS, Treasury, JPMorgan, Citigroup, Bank of America, Bank of New York Mellon, Federal Reserve, HK, Bank of England, Lockheed, United Airlines, Michelle Bowman , New York Fed, Minneapolis Fed, Richmond Fed, European Central Bank, European Union, Luxembourg Retail, Reuters Graphics Reuters, EIA, Thomson Locations: New York City, U.S, Israel, Gaza, Jordan, Israeli, Gazans, Asia, Europe, Wells Fargo, China, Russian, Beijing, Ukraine, United, Canada, Michelle Bowman , New, Frankfurt, Luxembourg, Venezuela
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Consumer discretionary (.SPLRCD) led gains among S&P 500 sectors, although all of the sectors were higher on the day. Third-quarter earnings for S&P 500 companies are estimated to have increased 2.2% year-over-year, up from an estimated increase of 1.3% a week earlier, according to LSEG data Friday. At the same time, global leaders are trying to make sure that the Middle East conflict "remains contained," she said. The S&P 500 posted 11 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 33 new highs and 206 new lows.
Persons: Brendan McDermid, Charles Schwab, Russell, Goldman Sachs, Morgan Stanley, Johnson, Quincy Krosby, Patrick Harker, Lululemon, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Major U.S, Bank of America, Johnson, Netflix, Dow Jones, York, Philadelphia Fed, Activision Blizzard, NYSE, Thomson Locations: New York City, U.S, Major, Gaza, Charlotte , North Carolina, Bengaluru
Consumer discretionary (.SPLRCD) and materials (.SPLRCM) led the gains across major S&P 500 sectors, while utilities (.SPLRCU) and energy stocks (.SPNY) lagged behind. Third-quarter earnings for S&P 500 companies are estimated to grow 2.2% year-on-year, LSEG data showed on Friday. Investors also await economic data including retail sales for September and the Philly Fed Business Index for October later this week. Lululemon Athletica (LULU.O) added 9.6% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard . The S&P index recorded nine new 52-week highs and six new lows, while the Nasdaq recorded 29 new highs and 148 new lows.
Persons: Brendan McDermid, Charles Schwab, Dow, Ross Mayfield, Baird, Goldman Sachs, Morgan Stanley, Johnson, Jerome Powell's, Patrick Harker, Lululemon, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Moderna, Dow, Nasdaq, Microsoft, Bank of America, Johnson, Tesla, Netflix, Investors, Philly, Dow Jones, Federal, Fed, Philadelphia Fed, Apple, Activision Blizzard, NYSE, Thomson Locations: New York City, U.S, Israel, Gaza, New York State, China, Bengaluru
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The S&P 500 and the Nasdaq dropped on Friday as deteriorating consumer sentiment data and the Middle East conflict kept investors away from riskier bets and overshadowed some upbeat earnings from big U.S. banks. Third-quarter earnings for the S&P 500 companies are estimated to grow 2.2% on an annual basis, LSEG data showed. Of the 32 S&P 500 companies that have reported results, 87.5% have surpassed expectations compared with the long-term average of 66.5%. Rival Moderna (MRNA.O) dipped 5.1%Lululemon Athletica (LULU.O) added 5.8% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard (ATVI.O).
Persons: Brendan McDermid, Antony Blinken, Pissouros, Goldman Sachs, Morgan Stanley, Johnson, Charles Schwab, Patrick Harker, Jerome Powell, Harker, Austan Goolsbee, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Reuters, Pfizer, Dow, Nasdaq, Treasury, XM, Bank of America, Johnson, Tesla, Netflix, Philly, New York, Philadelphia Fed, Federal, Chicago Fed, Dow e, Nvidia, Activision Blizzard, Thomson Locations: New York City, U.S, China, Israel, Gaza, United States, Bengaluru
Three-Stock Lunch: Microsoft, Charles Schwab and Lululemon
  + stars: | 2023-10-16 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Microsoft, Charles Schwab and LululemonLee Munson, Portfolio Wealth Advisors president, joins ‘Power Lunch’ to discuss three stocks: Microsoft, Charles Schwab and Lululemon.
Persons: Charles Schwab, Lululemon Lee Munson, Lululemon Organizations: Microsoft
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