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☆ Average 401(k) balances plunged 23% year-over-year due to market volatility, Fidelity says
▼ + stars: | 2022-11-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

In this article FIS Follow your favorite stocks CREATE FREE ACCOUNTwatch nowMonths of market swings have taken a heavy toll on retirement savers. The average 401(k) balance sank for the third consecutive quarter and is now down 23% from a year ago to $97,200, according to a new report by Fidelity Investments, the nation's largest provider of 401(k) plans. The average individual retirement account balance also plunged 25% year-over-year to $101,900 in the third quarter of 2022. The average 401(k) contribution rate, including employer and employee contributions, held steady at 13.9%, just shy of Fidelity's suggested savings rate of 15%. "Retirement savers have wisely chosen to avoid the drama."

☆ The Fed 'pivot' is dead, says strategist, who shares where to invest right now
▼ + stars: | 2022-11-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

"The concept of pivot is dead," Salman Ahmed, Fidelity's global head of macro and strategic asset allocation, told CNBC Pro Monday. Ahmed said that equities would be unlikely to benefit even if the Federal Reserve stops hiking rates at the current level. Investors have moved on to question whether the Fed might be forced to pivot away from historically high rates, and even start cutting next year, given recession risks. "It's now about how long the Fed can keep the policy in a very restrictive stance," Ahmed added. According to Ahmed, government and investment-grade corporate bonds are some of the cheapest asset classes available now that offer risk-free returns.

☆ Wall Street ignored Big Tech's bloat during boom times. Now it's ready to slice and dice.
▼ + stars: | 2022-11-17 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +6 min

As tech companies' stock has slumped, Wall Street now has leverage over companies. One reason for those layoffs: Wall Street is increasingly getting a say in how the tech giants are run. But 2022's slumping tech stocks and dismal revenue forecasts mean Wall Street suddenly has leverage. The more open question is whether tech companies are truly bloated regarding headcount. Wall Street will want to see companies cut costs, which will mean more layoffs.

☆ The manager of an international Fidelity fund breaks down why he invests without obsessing over traditional valuation metrics — and how it's helped him beat 91% of competitors this year
▼ + stars: | 2022-11-11 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

But the Fidelity International Small Cap Fund is having its best year relative to peers in a decade. When Fidelity launched the Fidelity International Small Cap Fund (FISMX) in 2002, the timing turned out to be perfect. International stocks were about to embark upon six straight years of outperforming their US-based peers by at least 5%. International stocks underperformed their American peers by 6.4% in 2008 and lag behind US stocks for 10 of the next 13 years. Yet despite that unforgiving environment for foreign stocks, Fidelity's $2.9 billion international small cap fund has beaten 98% of competitors over the past 15 years, according to Morningstar.

☆ 55% of Americans are behind on saving for retirement—and that's OK
▼ + stars: | 2022-11-04 | by ( Mike Winters | ) www.cnbc.com time to read: +5 min

Around 55% of Americans say they're behind on saving for retirement, a recent Bankrate survey found. She's had clients who didn't start seriously saving until their 40s who are now on track to comfortably retire. How to get your savings back on trackIf you want to catch up on saving for retirement, you'll first need a well-defined goal. To get a basic idea of how much you need, a retirement savings calculator is a good place to start. Since life is full of unexpected expenses, you can never have too much money put away for retirement, she says.

☆ Fidelity to open commission-free crypto trading to retail investors
▼ + stars: | 2022-11-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Fidelity Investments is launching a commission-free crypto trading product for retail investors. The service, called Fidelity Crypto, will allow investors to buy and sell bitcoin and ether and use custodial and trading services provided by its subsidiary Fidelity Digital Assets. "A meaningful portion of Fidelity customers are already interested in and own crypto. Fidelity follows Robinhood and Binance.US in offering commission-fee crypto trading. Historically they have leaned on trading fees for revenue, but fee-free trading in crypto has become an increasing inevitability.

Chinese equities make up 31% of the MSCI Emerging Market index (.MIEF00000PUS), a popular stock index that many funds track and benchmark their performances against. Fund research firm Morningstar tracks nine new emerging market ex-China equity mutual funds and exchange-traded funds (ETFs) that were created this year, matching the number of launches in total over the previous two years. If Aubrey was to remove China from its emerging market strategy, the Indian market would take a significant portion, while the rest will be spread around other countries including Vietnam, Brazil and Mexico, he said. OUTFLOWSAndrew McCaffery, Fidelity International's global chief investment officer, said they have received increased requests from clients for emerging markets excluding China strategies, although the purpose was to “break China out as an allocation separately within global portfolios”. “The challenge is that they (global investors) are not going to be quick to add back in,” he said.

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☆ Strong earnings will be an important underpinning for the market going forward, says Fidelity's Timmer
▼ + stars: | 2022-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrong earnings will be an important underpinning for the market going forward, says Fidelity's TimmerJurrien Timmer, Fidelity Investments director of global macro, joins 'TechCheck' to discuss how the Q3 season earnings could play out, how earnings typically hold up with inflation and if earnings estimates have baked in the strength of the U.S. dollar.

☆ My sense is this decline is not over and won't be until Fed cycle ends, says Fidelity's Timmer
▼ + stars: | 2022-09-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMy sense is this decline is not over and won't be until Fed cycle ends, says Fidelity's TimmerOmar Aguilar, Schwab Asset Management CEO and CIO, and Jurrien Timmer, Fidelity Investments director of global macro, join 'Squawk on the Street' to discuss where we are in the markets, how much further the S&P has to fall and more.

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☆ Fidelity Is Rolling Out Four New Bond Model Portfolios
▼ + stars: | 2020-01-15 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +7 min

Investment management giant Fidelity is adding more fixed-income model portfolios to its menu of products available to financial advisors. While Fidelity doesn't charge advisory fees for the model portfolios, it charges investment management fees for the underlying funds. AdvertisementInvestment-management giant Fidelity is adding more fixed-income model portfolios to its menu of products available to financial advisors. Fidelity's model portfolios are available on so-called turnkey platforms for advisers, including its own offering. AdvertisementA growing marketFidelity already offers bond model portfolios to the advisers it serves through its institutional asset management business.

Persons: iShares, —, Larry Fink, Fink, Charles Schwab, Schwab, TD, Brian Snyder That's, Scott Smith, Smith, BlackRock's Fink, Russell Investments, Michelle Seitz, Russell, Seitz, — Bradley Saacks Organizations: Fidelity, BlackRock, Service, Fidelity Investments, REUTERS, Cerulli Associates, Business, Bank of America, Natixis, JPMorgan, Merrill Lynch Wealth Management Locations: Broadridge, Boston , Massachusetts

It's never too early to start thinking about next year's tax bill, and what you could deduct. Contributing to a tax-deferred account allows you to deduct contributions from your income, which will help you reduce your taxable income and save on your tax bill. After the $130,000, the Social Security percentage disappears, and you pay Medicare taxes (2.9%) on your entire income. Read more: 5 changes to expect when you file your tax return this yearOn a $150,000 profit, you will end up paying more than $20,000 in Social Security and Medicare taxes in addition to income taxes, noted Amedian. Contribute to a health savings account (HSA)Certified Public Accountant Riley Adams, who also blogs at Young and the Invested, wants to remind taxpayers it's never too late to open a health savings account, or HSA.

Persons: It's, —, it's, whittle, Dave Du Val, You'll, Du Val, Emil Abedian, Read, Max, Megan Gorman, Gorman, Riley Adams Organizations: Service, Internal Revenue Service, EA, Social Security, Social, Corporation, IRS, Financial Management, Worth Tax, Financial, Young Locations: Plenty

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