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CNN —Alabama has scheduled the nation’s first execution by nitrogen hypoxia, an alternative to lethal injection, its Republican governor said. He asked the state to be put to death by nitrogen gas rather than lethal injection after what he called a botched execution. Smith’s execution now is set to take place between January 25 and 26, according to a news release from Gov. The court’s action came after the justices divided 6-3 earlier in the term to allow Smith’s execution to go forward by lethal injection. Smith’s case was tried by a jury twice, Alabama Attorney General Steve Marshall has noted, both of which resulted in convictions.
Persons: Kenneth Eugene Smith’s, Kay Ivey, nodded, , Steve Marshall, Patrick Semansky, Smith, , Elizabeth Dorlene Sennett, Sennett’s, Smith’s, CNN’s Jamiel Lynch, Ariane De Vogue, Dakin Andone Organizations: CNN, Alabama, Republican, Gov, Court Locations: Alabama, Washington
Hunter Biden, son of U.S. President Joe Biden, arrives at federal court to plead guilty to two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, U.S., July 26, 2023. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Nov 8 (Reuters) - The Republican-controlled U.S. House Oversight Committee said on Wednesday it has subpoenaed President Joe Biden's son, Hunter Biden, and brother, James Biden, to appear for depositions, in an escalation of its impeachment inquiry into the Democrat. In addition to the subpoenas to Hunter Biden and James Biden, the committee has issued a subpoena to Rob Walker, a former business partner of Hunter Biden. The committee has also asked four other members of Biden's family to appear, as well as another former business partner, Tony Bobulinski. Hunter Biden, 53, has publicly discussed his past substance abuse and never held a position in the White House or on his father's campaign.
Persons: Hunter Biden, Joe Biden, Jonathan Ernst, Joe Biden's, James Biden, Biden, Barack Obama's, Abbe Lowell, Hunter, Lowell, Devon Archer, Karine Jean, Pierre, Donald Trump, Rob Walker, Tony Bobulinski, Trump, Mike Johnson, Makini Brice, Steve Holland, Scott Malone, Matthew Lewis Organizations: REUTERS, Rights, Republican, Democrat, House Republicans, White, Wednesday, Biden, Senate, Thomson Locations: Wilmington , Delaware, U.S, Washington
Taylor Hill/FilmMagic/Getty Images Hari Nef arrived in hot-off-the-runway JW Anderson. Taylor Hill/FilmMagic/Getty Images Molly Ringwald stepped out in a scarlet red Zac Posen number. Taylor Hill/FilmMagic/Getty Images Jenna Lyons opted for a classic back suit with a fitted waist. Taylor Hill/FilmMagic/Getty ImagesSerena Williams, who became the first athlete to be honored as a CFDA Fashion Icon, similarly opted for an all-American designer. Taylor Hill/FilmMagic/Getty ImagesKim Kardashian and Law Roach, meanwhile, broke from the ranks and chose to amplify smaller US designers in two equally eye-catching looks.
Persons: Willy Chavarria, Catherine Holstein —, , Olsen, Anne Hathaway, Dimitrios Kambouris, Demi Moore, Carolina Herrera sequined, Taylor, Devon Lee Carlson, Jeremy O, Harris, Chloe Sevigny, Gwyneth Paltrow, Hari Nef, Molly Ringwald, Zac Posen, Jenna Lyons, Greta Lee, Emma Chamberlain, Thom Browne, Ashley Graham, Anne, Ralph Lauren’s, jean, Britney Spears, it’s, Ralph Lauren, Vanessa Hudgens, Vera Wang, Anne Hathaway's, Serena Williams, Williams, Thom Browne —, , ” Williams, Hudgens, Wang, Wang —, Kim Kardashian, Law Roach, Roach Organizations: CNN, of Fashion Designers of America, American Museum of, Getty, Anderson, Housewives, New York, U.S ., York Locations: New York City, New York, Carolina, Los Angeles, Brooklyn
Morning Bid: Some payback, but bonds hug gains on oil
  + stars: | 2023-11-07 | by ( ) www.reuters.com   time to read: +5 min
The oil price slide was helped by signs from Israel that it's open to pauses in the Gaza fighting. The typically hawkish Minneapolis Fed boss Neel Kashkari insisted it was still too early to take another rate hike off the table. Elsewhere, the Reserve Bank of Australia raised its policy interest rate again, as expected, by another quarter point to a 12-year high of 4.35%. Overall, the global stocks picture reflected some of the cooling of last week's rally and some of the China export numbers. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Lucas Jackson, Mike Dolan, that's, Neel Kashkari, Christopher Waller, Michael Barr, John Williams, Lorie Logan, Jeffrey Schmid, Zimmer, Jack Henry, Akamai, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Treasury, Minneapolis Fed, International Monetary Fund, Reserve Bank of Australia, Asia bourses, UBS, Credit Suisse, Federal Reserve Bank of New, Michael Barr , New York Fed, Dallas Fed, Horton, Mosaic, Emerson Electric, Occidental, Devon Energy, Products, Chemicals, Gen, Fidelity, Reuters, Reuters Graphics, Thomson Locations: New York, U.S, Israel, Gaza, China, Asia, Japan, Hong Kong, Swiss, Canada, Federal Reserve Bank of New York, Michael Barr ,, Lorie Logan , Kansas, eBay, Gilead, Occidental Petroleum
Robinhood posted third-quarter revenue of $467 million, compared to analysts' estimate of $478 million, per LSEG. Akamai posted third-quarter adjusted earnings of $1.63 per share and revenue of $965.5 million. Devon posted third-quarter adjusted earnings of $1.65 per share, compared to the $1.56 per share anticipated by analysts, per FactSet. The energy company posted third-quarter adjusted earnings of $1.18 per share, while analysts polled by FactSet anticipated 88 cents per share. Extra Space Storage reported a third-quarter revenue of $748 million, above the $680.6 million expected by analysts polled by FactSet.
Persons: Robinhood, LSEG, Akamai, FactSet, DaVita, Devon, Morgan Stanley, , Darla Mercado Organizations: Revenue, eBay, Technologies, Akamai Technologies, Devon Energy —, Energy, Occidental Petroleum —, Occidental Petroleum, Occidental, Citigroup, FactSet
For a little over a quarter of Americans, their biggest financial fear is not having enough money saved for retirement, according to a recent WalletHub survey. On average, Americans think they'll need around $1.2 million to retire comfortably, per Northwestern Mutual's 2023 Planning and Progress Study. Don't fret if you feel a long way away from reaching your retirement goals. One of the best ways to ensure you'll have enough money to retire comfortably is to start sooner rather than later. To that point, CNBC calculated how much someone who earns $80,000 annually would need to save each month in order to retire with $1.5 million at age 67.
Organizations: CNBC Locations: Northwestern, U.S
Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicIt’s been one month since the attack on Israel, but Washington has yet to deliver an aid package to its closest ally. The reason has to do with a different ally, in a different war: Speaker Mike Johnson has opposed continued funding for Ukraine, and wants the issue separated from aid to Israel, setting up a clash between the House and Senate. Catie Edmondson, who covers Congress for The Times, discusses the battle within the Republican Party over whether to keep funding Ukraine.
Persons: It’s, Mike Johnson, Catie Edmondson Organizations: Spotify, Ukraine, Senate, The Times, Republican Party Locations: Israel, Washington, Ukraine
CNN —Nashville police say an investigation began Monday morning into three photographs that surfaced online of alleged writings connected to the March shooting at a private Christian school that left three 9-year-olds and three adults dead. The pictures of writings allegedly from the 28-year-old shooter, who was a former student at The Covenant School, were released by a conservative political commentator Monday. One page of the writings appears to be a day’s checklist, while another is filled with angry ramblings. It’s unclear how many more pages of writings there may be, and what the contents of other pages are. The shooter’s writings have been part of a monthslong legal fight playing out in Nashville over the release of documents and records related to the March 27 shooting.
Persons: ramblings, Freddie O’Connell, , Organizations: CNN, Nashville, The Covenant School, Authorities, Covenant, FBI Locations: Nashville, Nashville’s
The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho
Movie star Scarlett Johansson is taking legal action against an AI app that used her name and an AI-generated version of her voice in an advertisement without her permission, according to Variety. The 22-second ad was posted to X, formerly Twitter, on Oct. 28 by AI image-generating app Lisa AI: 90s Yearbook & Avatar, according to Variety. The ad featured images of Johansson and an AI-generated voice similar to hers promoting the app. However, fine print displayed under the ad indicated the AI-generated content "has nothing to do with this person." Lisa AI and a representative for Johansson didn't respond to CNBC Make It's request for comment.
Persons: Scarlett Johansson, Johansson, Lisa AI, Johansson didn't Organizations: Variety, CNBC
He said he'll be paying close attention to several quarterly earnings reports, especially from oil and gas companies. "Now, we will not be oversold next week like we were when we came in on Monday, so I don't expect the kind of strength we got this week," Cramer said. "So, if you have some positions you don't like, it's time to [sell, sell, sell!]." On Monday, Cramer said he'll be waiting to hear earnings results from Coterra and Diamondback Energy , both oil and gas companies he likes. Disney reports after close, and Cramer said it's important the company indicates it has strategic partners with whom it can conduct business.
Persons: CNBC's Jim Cramer, he'll, Cramer, Tuesday's, Warren Buffett, David Zaslov, he's, Fisher, Danaher Organizations: Diamondback Energy, Emerson Electric, Warner Bros Discovery, Kellogg, Disney, Michigan Consumer, Federal Locations: Devon, Occidental, Kellanova, Michigan
High-yield savings accounts can help your money grow faster than traditional savings accounts, but many people mistakenly think that the returns these types of accounts can deliver are too good to be true. Like traditional savings accounts, high-yield savings accounts are backed by the Federal Deposit Insurance Corporation, which is an independent U.S. government agency. Online banks that offer high-yield savings accounts tend to have lower overhead costs than traditional banks, since they aren't paying for physical locations and other expenses. But high-yield savings accounts offer APYs as high as 5% or 6%. But before you move over your funds, be sure to do your research on the bank that's offering the high-yield savings account you're interested in.
Persons: Colby Dickson, Greg McBride, McBride, Jim Cramer, Ben McKenzie, Farnoosh Organizations: Northwestern Mutual, CNBC, Federal Deposit Insurance Corporation, FDIC Locations: U.S
In the U.S., the average credit score is 716, per Experian's latest data from the second quarter of 2023. And when you break down the average credit score by age, the typical American is hovering near or above that score. For members of Gen Z, defined as those between 18 and 26, the average credit score is 680, according to Experian. Meanwhile, the average credit score for people 78 or older, categorized as the silent generation, is 761 — the highest of the generational cohorts. Older Americans have had more time to build and manage their credit than younger Americans who are just starting out.
Persons: Gen Locations: U.S
CNN —A section of the Blue Ridge Parkway has been closed by officials “after multiple documented reports of visitors feeding and attempting to hold a young bear in recent weeks,” the National Park Service said in a news release. The section closed on Monday “until further notice.”“When people intentionally attract bears with trash and food it can lead to very dangerous situations. The safety tips instruct visitors not to feed bears and to properly store all food. The Blue Ridge Parkway is the most-visited of the National Park Service’s 425 sites, according to 2022 figures. The Blue Ridge Parkway starts in Waynesboro, Virginia, and stretches more than 469 miles, ending in the Great Smoky Mountains near Cherokee, North Carolina, according to NPS.
Persons: , Tracy Swartout, Organizations: CNN, National Park Service, Bears, NPS Locations: Asheville , North Carolina, Ox, NC80, Waynesboro , Virginia, Smoky, Cherokee, North Carolina
A screengrab taken from video shows ruins of the Saqallah family compound after the blast on October 19. A view of the Saqallah family compound before the strike. From left, Doctors Omar Saqallah, Saed Saqallah and Ameed Saqallah were among the 42 relatives killed on October 19. They’re just ordinary people: doctors and grandmothers and grandfathers and uncles and aunts and children,” Abu Shaban said. Until the killing stops, Abu Shaban says his family still reels: “I’m still in this nightmare.
Persons: Tariq Hamouda, Manal, it’s, they’re, Hamouda, Tariq Hamouda “, ” Hamouda, , Tariq Hamouda Israel, Eyad Abu Shaban, , “ It’s, ” Abu Shaban, Essam Abu Shaban, Layla Saqallah, Ahmed, Abu Shaban, , Omar Saqallah, Saed, Ameed Saqallah, Tariq, – Saed, Omar, Ameed, Khorsheed, Sen, Amy Klobuchar’s, “ We’ve, haven’t Organizations: CNN, Palestinian, Hamas, Israel Defense Forces, Palestinian Ministry of Health, United Nations Office, Humanitarian Affairs, Boca, Community, Islamic Locations: Gaza, Maple Grove , Minnesota, Israel, Sheikh Ejleen, Gaza City, Hamouda, Israeli, Minnesota, Ramallah, South Florida, Tel El Hawa, Boca Raton, Grove, Brooklyn, Amy Klobuchar’s Minnesota
The recent sharp drawdown in stocks presents a buying opportunity for those stocks that are positioned to withstand a double whammy of higher interest rates and an economic slowdown, according to Goldman Sachs. "Although we expect headwinds to discount rates and balance sheets to persist, we would view a substantial further downgrade to the growth outlook as a buying opportunity," David Kostin, Goldman's chief U.S. equity strategist, said in a note to clients. Therefore, Goldman believes many cyclical stocks, or those with a high sensitivity to the economy, shouldn't suffer. "We therefore remain wary of long-duration and highly levered stocks but think investors should treat cyclical sell-offs as a buying opportunity," Kostin said. Energy stocks Devon Energy and Patterson-UTI Energy also made the list.
Persons: Goldman Sachs, David Kostin, Goldman, Kostin Organizations: Academy Sports, PVH Corp, Holdings . Energy, Devon Energy, Patterson, UTI Energy
Skinner is running for reelection to the City Council of Johns Creek, an Atlanta suburb of about 85,000. In 2020, they were pivotal in Democrat Joe Biden's close victory over Trump, the Republican incumbent, in the president election. “President Trump is obviously divisive,” said Skinner in a interview, insisting the endorsement “was about the veterans” rather than Trump himself. I don’t want to become Atlanta,” said Kramer, the Johns Creek Republican. Johns Creek is about 52% non-Hispanic white.
Persons: Stacy Skinner, , Donald Trump, Skinner, , Devon Dabney, Betsy Kramer, “ I'm, ” Kramer, “ I’m, Democrat Joe Biden's, Brad Raffensperger, Brian Kemp, Trump, It’s, Sarah Reckhow, Dabney, ” Dabney, Johns, Kramer, I’m, Jason Miller, ” Miller, Allen Sells, “ I’ve, Miller, Sells, Bridget Thorne, She’s Organizations: Veterans, Trump, Republicans, City Council, Republican, Democrat, Republican Party, Georgia, Raffensperger, Michigan State University, Democratic, Civil Rights Movement, Johns, . Census, City Locations: China, Mexico, Johns Creek, Atlanta, Fulton County, Fulton, Georgia's, lockstep, Washington, Georgia, U.S, America, Johns, Black, Boston, , Roswell,
Americans under 35 increased their median net worth by a whopping 142% between 2019 and 2022 — from $16,100 to $39,000 — according to the Federal Reserve's October 2023 Survey of Consumer Finances. The report defines net worth as the difference between a person's assets and liabilities. To that point, many young people don't have assets that would push up their net worth. On the other hand, Americans between the ages of 65 and 74 have the highest median net worth out of all age cohorts, increasing their net worth from a median of $308,800 to $409,900 over the same time period. Here's Americans' median net worth, broken down by age.
Persons: they've Organizations: Federal, Consumer Finances
Needing 19 runs off Mitchell Starc's final over, New Zealand milked 13 runs off the first four legitimate deliveries to keep the heat on Australia. "That was awesome," Australia captain Pat Cummins said after their fourth win in six matches. Glenn Phillips broke the burgeoning stand by taking a return catch to dismiss Warner, but Head raced to a 59-ball century. New Zealand were uncharacteristically sloppy in the field, dropping five catches, with Head the beneficiary on two occasions. That left Ferguson with the job of hitting the final delivery for six, but he drilled it straight to the cover fielder instead.
Persons: Arun Jaitley, Labuschagne, David Warner, Adnan Abidi, Travis Head's, Ravindra, Daryl Mitchell, James Neesham, Mitchell, Neesham, Lockie Ferguson, Pat Cummins, Australia's, Glenn Phillips, Warner, Phillips, Glenn Maxwell, Josh Inglis, Pat Cummins clobbered, Devon Conway, Will Young, Josh Hazlewood, Mitchell steadied, Maxwell, Cummins, Ferguson, Tom Latham, Amlan Chakraborty, Hugh Lawson Organizations: Cricket, ICC Cricket, New Zealand, Himachal Pradesh Cricket Association, New, Mitchell Starc's, New Zealand milked, Kiwis, Warner, Zealand, Thomson Locations: Australia, Netherlands, New Delhi, India, Himachal, New, New Zealand, Starc
Artists who want to share their artwork often face a tough choice: keep it offline or post it on social media and risk having it used to train data-hungry AI image generators. But a new tool may soon be able to help artists deter AI companies from using their artwork without permission. If enough of these "poisoned" images are scraped from the web and used to train an AI image generator, the AI model itself may no longer be able to produce accurate images. After researchers fed Stable Diffusion 300 "poisoned" images of dogs, it eventually began producing images of cats. Stable Diffusion did not respond to CNBC Make It's request for comment.
Persons: It's Organizations: University of Chicago, MIT Technology, CNBC
[1/47] Oct 26, 2023; Pittsburgh, Pennsylvania, USA; Colorado Avalanche center Ross Colton (20) stretches on the ice before the game against the Pittsburgh Penguins at PPG Paints Arena. It was Jarry's second shutout of the season, the 15th of his career and his first against the Avalanche. Lars Eller and Sidney Crosby also scored for the Penguins, who are 6-2-0 against Colorado in the past eight meetings. With Georgiev out of position, Smith scored short side to make it 2-0. Off a rebound of a shot by Radim Zohorna, Eller scored on a backhander from the low slot to boost the lead to 3-0.
Persons: Ross Colton, Charles LeClaire, Reilly Smith, Tristan Jarry, Lars Eller, Sidney Crosby, Alexandar Georgiev, Ivan Prosvetov, Smith, Georgiev, Bryan Rust, Evgeni Malkin, Devon Toews, Malkin, Eller, Radim Zohorna, Crosby Organizations: Colorado Avalanche, Pittsburgh Penguins, PPG Paints, Avalanche, Penguins, Colorado, NHL, Thomson Locations: Pittsburgh , Pennsylvania, USA, Pittsburgh, Colorado
A New Threat: Surprise Hurricanes
  + stars: | 2023-10-27 | by ( Michael Barbaro | Olivia Natt | Eric Krupke | ) www.nytimes.com   time to read: 1 min
Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicHurricane Otis, which killed more than two dozen people in southern Mexico this week, exemplified a phenomenon that meteorologists fear will become more and more common: a severe hurricane that arrives with little warning or time to prepare. Judson Jones, who covers natural disasters for The Times, explains why Hurricane Otis packed such an unexpected punch.
Persons: Judson Jones, Hurricane Otis Organizations: Spotify, Music Hurricane Otis, The Times Locations: Mexico
CrownRock's investment bankers have asked interested parties to submit initial offers next week, two of the sources added. Diamondback Energy (FANG.O), Devon Energy (DVN.N), Marathon Oil (MRO.N) and Continental Resources are also studying potential bids for CrownRock, the sources said. The company is led by Texas billionaire businessman Timothy Dunn and backed by private equity firm Lime Rock Partners. Bloomberg News reported last week that Devon was considering a bid for CrownRock, and that Devon has also held preliminary talks about a tie-up with Marathon. Reporting by David French in New York; Editing by Greg Roumeliotis and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.
Persons: Chris Helgren, CrownRock, Timothy Dunn, Conoco, Devon, David French, Greg Roumeliotis Organizations: ConocoPhillips, REUTERS, Houston, Exxon Mobil Corp, Chevron Corp, Diamondback Energy, Devon Energy, Continental Resources, CrownRock, Marathon Oil, Continental, Diamondback, Exxon, Natural Resources, Chevron, Hess Corp, Lime Rock Partners, EOG Resources, Devon, Bloomberg News, Marathon, Reuters, Thomson Locations: Vancouver , British Columbia, Canada, Texas, Conoco, Devon, Midland, Marathon, New York
Young Americans have mixed feelings about their ability to reach their retirement savings goals. However, about half of both groups feel they're slightly or significantly behind where they should be, per the survey. When you start saving for retirement early, you give your funds more time to grow through the power of compounding interest. On average, Americans think they'll need over $1 million to retire comfortably, according to Bankrate. With that in mind, CNBC calculated how much you would need to set aside each month in order to retire with $2 million at 65, starting at ages 21, 25 and 30.
Persons: Zers Organizations: CNBC Locations: Northwestern
Americans in their 20s think they'll need around $1.2 million on average to retire comfortably, according to Northwestern Mutual's "2023 Planning and Progress Study." But stashing your money in a traditional savings account probably won't get you there by the time you hit retirement age because your money won't grow fast enough. However, retirement investment accounts typically earn a much higher rate of return than a traditional savings account, so your money grows faster when interest is compounded. On the other hand, you'd have significantly less if you put that money into a traditional savings account, which generally earn returns less than 1%, per the FDIC's data. If you put that same $100 into a regular savings account, you'd only have around $66,300 by the time you turn 65, per CNBC's calculations.
Persons: Vivian Tu Organizations: CNBC Locations: Northwestern
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