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☆ As Gen Xers reach retirement withdrawal age, using that money should be a 'last resort,' expert says
▼ + stars: | 2024-07-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Fg Trade | E+ | Getty ImagesGen Xers are starting to reach age milestones that give them penalty-free access to certain retirement funds. And once they reach a certain milestone — age 59½ — they can withdraw money from their individual retirement accounts, or IRAs, and 401(k)s penalty free. Beyond those age guidelines, there are other exceptions that may enable savers to avoid penalties for early retirement withdrawals. Add money through catch-up contributionsFor younger Gen Xers, age 50 marks another milestone, when they can start making catch-up contributions to retirement accounts. To clear the way for tax-free withdrawals in retirement, retirement savers may opt to gradually convert pre-tax IRA funds to post-tax Roth accounts.

Persons: Xers, Ed Slott, Slott, Roth, Gen Xers, Rita Assaf, Assaf Organizations: Fidelity, Finance, Social Security, IRAs

Earning Capital One RewardsYou need a Capital One miles-earning credit card in order to earn Capital One miles. Other credit cards offer higher rewards in certain categories of spending Insider’s Take If you want an easy, no-fuss travel rewards credit card, the Capital One Venture Rewards Credit Card is a great fit. Limited benefits Insider’s Take The VentureOne Rewards Card is a slimmed-down version of the popular Capital One Venture Rewards Credit Card. If you're looking for a flexible travel credit card that fits your travel strategy, any Capital One travel credit card is worth exploring. Capital One Rewards frequently asked questionsHow can I earn rewards with Capital One credit cards?

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Each airline earns and uses Avios differently, and this guide focuses on British Airways Avios unless specified otherwise. Earning AviosThere are many ways to earn British Airways Avios, which we'll explore in more depth below. Earn Avios from using a British Airways Avios credit cardBritish Airways Visa Signature® Card Apply now lock icon An icon in the shape of lock. Not the most rewarding card for non-British Airways purchases Insider’s Take If you like British Airways Avios points, the British Airways Visa Signature® Card has an excellent welcome bonus offer to consider. British Airways Avios frequently asked questionsCan I transfer Avios between accounts?

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☆ UK planned to spend 10 billion pounds on Rwanda asylum scheme, minister says
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: +2 min

Britain's previous government had planned to spend 10 billion pounds ($12.9 billion) on a now-scrapped plan to deport asylum seekers to Rwanda and it has already cost taxpayers 700 million pounds, new Home Secretary Yvette Cooper said on Monday. Cooper said the costs include money for chartering flights that never took off, paying for the work of government officials and 290 million pounds in payment to the Rwanda government. Cooper also said tens of thousands of asylum seekers left in limbo as they were threatened with deportation to Rwanda will now have their asylum claims processed. Instead, the government promised to process their claims, end the costly use of hotels to accommodate asylum seekers and clear a backlog of claims. The shift in policy would save taxpayers an estimated 7 billion pounds over the next 10 years, Cooper said.

Persons: Yvette Cooper, Keir Starmer's, Cooper Organizations: Labour, Conservative Locations: Kigali, Europe, Rwanda, Britain's, Britain, East, California

Southwest Rapid Rewards® Plus Credit CardThe Southwest Rapid Rewards® Plus Credit Card is a great choice if you're just starting out. Transfer points from Diners Club or hotel loyalty programsDiners Club members can also transfer Club Rewards points to Southwest — 1,500 Club Rewards points, for instance, would convert to 1,200 Southwest points. It's also possible to redeem points earned through participating hotel loyalty programs if you'd rather put them toward flights than hotel stays, though redemption rates are pretty low:5,000 Best Western Rewards points = 1,200 Southwest points6,000 Choice Privileges points = 1,800 Southwest points2,000 Radisson Rewards America points = 200 Southwest points50,000 Radisson Rewards America points = 5,000 Southwest points100,000 Radisson Rewards America points = 10,000 Southwest points9,000 Marriott Bonvoy points = 3,000 Southwest points30,000 Marriott Bonvoy points = 10,000 Southwest points60,000 Marriott Bonvoy points = 20,000 Southwest points90,000 Marriott Bonvoy points = 30,000 Southwest points120,000 Marriott Bonvoy points = 40,000 Southwest points5,000 World of Hyatt points = 2,400 Southwest points50,000 World of Hyatt points = 24,000 Southwest pointsNote that World of Hyatt throws in an additional 6,000 Southwest points as long as you're a member, while Marriott Bonvoy adds 5,000 Southwest points for every 60,000 Marriott points transferred. Earn Southwest points by taking online surveysYou can earn points by taking online surveys through E-Rewards — $15 worth of E-Rewards yields 300 Southwest points, $25 worth of E-Rewards yields 600 Southwest points, $50 worth of E-Rewards yields 1,200 Southwest points, and $100 worth of E-Rewards yields 2,400 Southwest points. Southwest Rapid Rewards Points Frequently Asked QuestionsHow much is 50,000 Southwest points worth?

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☆ Opinion | Trump’s Transformation of the Republican Party Is Complete
▼ + stars: | 2024-07-20 | by ( Michael Lind | ) www.nytimes.com time to read: +1 min

The selection of Senator JD Vance of Ohio as his running mate suggests that the answer is yes. Even the most successful political parties are coalitions of odd bedfellows and competing interests. The Republican Party we saw in Milwaukee this past week has been fundamentally changed. With Mr. Vance at his back, leading a new counterestablishment that Mr. Vance helped shape, Mr. Trump has cemented his legacy — and transformed the Republican Party. Until recently, there was no counterestablishment in the Republican Party.

Persons: Trumpism, Donald Trump, JD Vance, Ohio, Trump, Ronald Reagan, Mitt Romney, Trump’s, Vance Organizations: Republican, Republican Party Locations: Milwaukee

Delta SkyMiles® Platinum Business American Express Card Annual Fee and Other CostsThe Delta SkyMiles® Platinum Business American Express Card comes with a $350 annual fee. Delta SkyMiles® Reserve Business American Express Card vs. Delta SkyMiles® Platinum Business American Express CardThe Delta SkyMiles® Reserve Business American Express Card is Delta's top-tier business credit card, and offers airport lounge access to both Delta Sky Club lounges as well as the American Express Centurion Lounge network on qualifying flights. Delta SkyMiles® Gold Business American Express Card vs. Delta SkyMiles® Platinum Business American Express CardThe Delta SkyMiles® Gold Business American Express Card is a great business credit card for Delta-flying business owners who are willing to pay a moderate annual fee for Delta travel benefits. Delta SkyMiles® Platinum Business American Express Card Frequently Asked QuestionsHow much is the Delta Platinum Business fee? The Delta SkyMiles® Platinum Business American Express Card is a mid-tier business credit card that earns Delta SkyMiles.

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The information for the following product(s) has been collected independently by Business Insider: CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard®, Citi® / AAdvantage® Platinum Select® World Elite Mastercard®. Bottom line: The CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard® is a good choice for small-business owners who fly American Airlines. CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard® Insider’s Rating Info icon Business Insider's Ratings are decided by our editorial team. CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard® review External link Arrow An arrow icon, indicating this redirects the user." Like most other cards, the CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard® charges fees for cash advances, late payments, and returned payments.

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Southwest Performance Business Credit Card ReviewChase offers five co-branded Southwest credit cards with varying annual fees and benefits. Southwest Performance Business Credit Card RewardsThe Southwest® Rapid Rewards® Performance Business Credit Card offers many key benefits and features. Southwest Performance Business Card Fees and Other CostsThe Southwest® Rapid Rewards® Performance Business Credit Card charges a $199 annual fee. Southwest® Rapid Rewards® Premier Business Credit Card vs. Southwest® Rapid Rewards® Performance Business Credit CardThe Southwest® Rapid Rewards® Premier Business Credit Card is the only other small business credit card in Southwest's current portfolio. Southwest Performance Business Card Frequently Asked QuestionsWhat are the main benefits of the Southwest Performance Business Credit Card?

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Delta Reserve Business Card OverviewAmerican Express issues seven co-branded Delta credit cards, and the Delta SkyMiles® Reserve Business American Express Card is its most premium small-business credit card. Delta Reserve Business Card Annual Fees and Other CostsThe Delta SkyMiles® Reserve Business American Express Card charges a $650 annual fee, and each additional cardholder costs $175. Delta SkyMiles® Platinum Business American Express Card vs. Delta SkyMiles® Reserve Business American Express CardThe Delta SkyMiles® Platinum Business American Express Card is a step down from the Delta SkyMiles® Reserve Business American Express Card, with a $350 annual fee and a 65,000 bonus miles after spending $6,000 in purchases on your new card in your first six months of card membership welcome bonus. Delta SkyMiles® Gold Business American Express Card vs. Delta SkyMiles® Reserve Business American Express CardThe Delta SkyMiles® Gold Business American Express Card is a great introductory business credit card card for Delta-flying business owners who want basic travel comforts, but don't want to pay a hefty annual fee for those benefits. Delta Reserve Business Card Frequently Asked QuestionsCan I earn a sign-up bonus on the Delta SkyMiles Business Reserve card?

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Index funds are a type of investment vehicle aiming to match the returns of a specific market index. "Index funds generally benefit an investor by providing diversification and relatively low fees compared to actively managed funds. Decide which index funds to invest inNow it's time to decide which index funds you want to invest in. "In this scenario, the investor would research the universe of index funds available and purchase the funds they'd like to own." Index fund investing FAQsHow do I buy an index fund on my own?

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☆ Solar stocks tumble as clean energy investors fear a Trump win — these companies are most exposed
▼ + stars: | 2024-07-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

This week, the benchmark Invesco Solar ETF (TAN) and the iShares Global Clean Energy ETF (ICLN) are down 6.2% and 4.6%, respectively. Residential solar stocks, including Enphase , Sunnova , Sunrun , SolarEdge and SunPower , would face a "severe impact" if Republicans successfully weaken or entirely repeal the IRA, according to Piper. The stock in the clean energy space with the least exposure to election risks is GE Vernova , according to a July slide deck from JPMorgan on clean energy. As a domestic manufacturer, First Solar potentially stands to benefit if the U.S. trade war with China intensifies under a Trump administration, according to Kallo. Though total IRA repeal may be unlikely, solar and clean energy stocks will "continue to be volatile until (and even after) the election due to headline risk," Kallo said.

Persons: Donald Trump, Joe Biden's, Biden, Piper Sandler, Wolfe, Piper, Enphase, SolarEdge, SunPower, Trump, Baird, Ben Kallo, Kallo Organizations: Republican Party, Democratic Party, Trump, Senate, Clean Energy, U.S, White House, Congress, Wolfe Research, Tax, Technologies, Republicans, GE Vernova, JPMorgan, GE, GOP, UBS, CNBC, Republican Locations: U.S, Ohio , Alabama, Louisiana, China

☆ Election Live Updates: Republicans Leave Convention Unified Around Trump
▼ + stars: | 2024-07-19 | by ( Jim Rutenberg | Adam Nagourney | ) www.nytimes.com time to read: +74 min

And there was great, great sorrow. They’re going to be OK. They’re going to be doing very well. Now he’s going to get on the plane in a little while and he’s going to go back home to his wife. Great, great student at Yale. So many — just so many heroes, so many great, great people.

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☆ Fact-checking night 4 of the Republican National Convention
▼ + stars: | 2024-07-18 | by ( Cnn Staff | ) edition.cnn.com time to read: +8 min

CNN —The final night of the Republican National Convention has kicked off in Milwaukee. Pompeo’s claim about the southern border under TrumpFormer Secretary of State Mike Pompeo claimed at the Republican National Convention Thursday that the US-Mexico border was “closed” during Donald Trump’s presidency. Facts First: This characterization of Trump’s tariffs is misleading. It’s true that Trump’s tariffs on China raised billions of dollars for the US government, but the duties were paid by US companies – not China. For example, Trump’s tariffs were imposed, in part, to boost the US manufacturing sector – but that industry lost jobs.

Persons: Donald Trump, Mike Pompeo, Donald Trump’s, Trump, Joe Biden, Devan Cole Trump, “, Daniel Dale Pompeo’s, “ We’d, ” Pompeo, Glen VanHerck, CNN’s Haley Britsky Linda McMahon’s, Linda McMahon, Erica York, Katie Lobosco, Ronald Reagan’s, Jimmy Carter, Carter, Affairs didn’t, Joe Biden ”, Daniel Dale Organizations: CNN, Republican National Convention, Trump Former, Republican, Convention, Trump, Biden, Republicans, Democrats, Electoral, Infrastructure Security Agency, Department of Homeland Security, Northern Command, North American Aerospace Defense Command, Small, US International Trade Commission, Tax Foundation, Federal Reserve, Foreign Affairs, Affairs Locations: Milwaukee, Mexico, Afghanistan, United States of America, China, America, United States

Introduction to Paying Taxes with a Credit CardYou can pay your annual taxes with a credit card. Benefits of paying taxes with a credit cardEarning rewards or cash backIt makes sense to pay your taxes with a credit card if you're trying to earn a rewards credit card welcome bonus, as long as the rewards are worth more than the cost of the credit card transaction fee and if you pay off your balance before you begin accruing interest. Quick Tip: When you pay taxes with a credit card, the transaction is processed as a purchase, not a cash advance — so you'll still earn credit card rewards. Review: Chase Ink Business Preferred card reviewPaying Taxes By Credit Card Frequently Asked QuestionsCan I pay any type of tax with a credit card? Paying taxes with a credit card impacts your credit score if the payment significantly increases your credit utilization ratio.

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☆ How the UK plans to prevent another Liz Truss 'mini-budget' crisis — which triggered huge bond sell-off
▼ + stars: | 2024-07-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — The new U.K. government is on Thursday set to propose legislation to prevent "significant uncosted measures" from being announced without an analysis of their impact on public finances. The OBR would be able to produce its analysis at the time of its choosing, according to notes on the bill released Wednesday. The notes contain a veiled reference to what became known as the British "mini-budget crisis" under former Prime Minister Liz Truss and ex-Finance Minister Kwasi Kwarteng. Shortly after taking up their posts in early September 2022, Truss and Kwarteng announced a raft of tax cuts in an unscheduled fiscal announcement that was described by analysts as "seismic." Both Truss and Kwarteng resigned over the turmoil after less than two months in their respective offices, and the majority of the measures were reversed.

Persons: Liz Truss, Kwasi Kwarteng, Kwarteng, Truss Organizations: Labour, Finance, U.S, Bank of England Locations: British

☆ Stocks, dollar and crypto jump after Trump assassination attempt
▼ + stars: | 2024-07-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —US markets rose Monday as investors processed the assassination attempt on former President Donald Trump over the weekend. The Dow rose 169 points, or 0.4%, paring its gains after hitting a fresh all-time high earlier in the session. The Republican Party’s campaign platform promises to “end Democrats’ unlawful and un-American crypto crackdown.”Shares of Trump Media & Technology Group, the former president’s social media company, popped 35.6%. A Trump win in November likely means the preservation or expansion of tax cuts and increased tariffs. While economic growth sounds positive for the US, some investors worry that it could reaccelerate inflation.

Persons: Donald Trump, Bettors, Joe Biden, Morgan Stanley, “, Trump, ”, Mark Malek Organizations: New, New York CNN, Dow, Nasdaq, Trump, Republican Party’s, Trump Media & Technology Group, CNN, Federal Reserve, Siebert Financial Locations: New York

☆ Premarket trading: US markets are steady following assassination attempt on Trump
▼ + stars: | 2024-07-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —US stock futures barely budged after an assassination attempt on former President Donald Trump on Saturday, signaling calm in the markets as Trump survived the incident. Dow futures rose 65 points, or 0.2%, while S&P 500 futures rose 0.1% and Nasdaq Composite futures were unchanged. On Saturday, the former president was shot in the ear during his rally in Butler, Pennsylvania, in what the FBI says was an assassination attempt. Markets crave stability, and an assassination attempt against the presumptive nominee might have thrown that into chaos. But Trump appears to have escaped with mostly superficial injuries, and the market’s thesis of the race hasn’t changed: Trump remains the frontrunner to become the next president.

Persons: Donald Trump, Trump, Joe Biden, Morgan Stanley, Goldman Sachs Organizations: New, New York CNN, Dow, Nasdaq, Trump, Republican National Convention, GOP, Republican, CNN, BlackRock Locations: New York, Butler , Pennsylvania, Milwaukee

☆ Texas needs money to keep the lights on during extreme weather. It’s funding more fossil fuel instead
▼ + stars: | 2024-07-12 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

But rather than shuttling money into strengthening its grid to make sure the lights and A/C stay on during increasingly extreme weather, Texas is pouring billions of taxpayer dollars into new natural gas-fired power plants. Adding more electricity to the grid isn’t necessarily a bad thing because the state is facing higher demand, said Texas energy expert Doug Lewin, founder of consulting firm Stoic Energy. The state prioritizes natural gas power plants or backup natural gas generator systems. Centerpoint and other Texas utilities are no stranger to extreme weather. “In addition to extreme weather, the company’s service area also experiences heavy precipitation and extreme temperatures,” the company wrote in the report.

Persons: Beryl, Doug Lewin, ” Lewin, it’s, Texas Republicans ’, ” Michael Webber, Centerpoint, Joshua Rhodes, ” Rhodes, Rhodes, It’s, haven’t, doesn’t, ”, Alison Silverstein, Microgrids, Lewin, “ We’ve, “ That’s Organizations: CNN, Houston, Energy, Texas Republicans, University of Texas, Centerpoint Energy, UT Austin, Texas Public Service Commission Locations: Houston, Texas, Austin, “

☆ Clarence Thomas accepted a free yacht trip to Russia and got flown out on a complimentary helicopter ride to Putin's hometown, 2 Democratic senators say
▼ + stars: | 2024-07-11 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

Democratic senators have accused Justice Clarence Thomas of accepting undisclosed gifts and trips. He allegedly accepted gifts like a yacht trip and a chopper ride to St. Petersburg, Putin's hometown. Senators seek investigation into potential tax fraud and financial ties between Thomas and Crow. AdvertisementTwo Democratic senators have accused Associate Justice Clarence Thomas of accepting free trips to Russian President Vladimir Putin's hometown. The letter highlighted the "serious possibility of tax fraud" and accused Thomas of having "secretly accepted gifts and income potentially worth millions of dollars."

Persons: Clarence Thomas, Putin's, Thomas, —, Vladimir Putin's, Sen, Sheldon Whitehouse, Ron Wyden, General Merrick Garland, SCOTUS Organizations: Service, Oregon, Business Locations: St . Petersburg, Rhode Island

☆ Troubled US military pier near Gaza to be permanently removed as soon as next week, US officials say
▼ + stars: | 2024-07-09 | by ( Oren Liebermann | Natasha Bertrand | ) edition.cnn.com time to read: +3 min

Last month marked the third time that the pier has been disconnected from Gaza because of inclement weather. But once the remaining aid is delivered, the pier is expected to be removed from the coast of Gaza and the operation, which began in mid-May, will end, officials said. Since the pier began operations, more than 19.4 million pounds of humanitarian aid have been delivered via the pier to the collection area in Gaza. Its removal will mark the end of a highly anticipated, but deeply troubled effort to flow humanitarian aid to the population of Gaza. The Pentagon and USAID inspectors general have launched coordinated reviews of the pier operation, they announced last month.

Persons: Pat Ryder, “ Organizations: CNN, Pentagon, ”, US, Associated Press, Israel Defense Forces, USAID, Republicans Locations: Gaza, Cyprus, Ashdod, Israel, Egypt

☆ Senators ask DOJ to investigate 'serious possibility of additional tax fraud' by Clarence Thomas
▼ + stars: | 2024-07-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Read previewTwo Democratic senators have called on Attorney General Merrick Garland to open a special counsel investigation into Clarence Thomas. This story is available exclusively to Business Insider subscribers. Presented with opportunities to resolve questions about his conduct, Justice Thomas has maintained a suspicious silence." AdvertisementA spokesperson for the Justice Department declined to comment on the letter when reached by Business Insider. Thomas has previously denied any wrongdoing, arguing gifts from Crow and others fall under a "personal hospitality exemption," meaning they don't require disclosure.

Persons: —, General Merrick Garland, Clarence Thomas, Sheldon Whitehouse, Ron Wyden, Thomas, Harlan Crow, Mark Martin, Whitehouse, Thomas's, he'd, Crow Organizations: Service, Oregon, Supreme, Business, Judicial Conference, Wyden, Finance, Justice Department, Business Insider Locations: Sens, Rhode Island, Crow

☆ How a Roth conversion ladder can save on future taxes and unlock retirement funds early
▼ + stars: | 2024-07-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Roth individual retirement account conversions are a popular way to reduce future levies on pretax 401(k) or IRA withdrawals — and you can smooth out the upfront tax hit with a "Roth conversion ladder," experts say. Roth conversions transfer pretax or nondeductible IRA money to a Roth IRA, which offers future tax-free growth. The trade-off is regular income taxes incurred that year on the converted balance. By comparison, a Roth conversion ladder is a series of conversions over multiple years, meaning "you're paying taxes in smaller increments," said certified financial planner Preston Cherry, founder and president of Concurrent Financial Planning in Green Bay, Wisconsin. Of course, boosting your adjusted gross income any year can trigger other tax consequences, such as phaseouts for certain tax breaks.

Persons: Roth, Preston Cherry, Ashton Lawrence, pretax, Lawrence Organizations: Roth IRA, Finance, CFP, Mariner Wealth Advisors Locations: Green Bay , Wisconsin, Greenville , South Carolina

☆ What a Trump presidency could mean for the dollar and the stock market
▼ + stars: | 2024-07-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

There are other reasons the dollar has been propelled higher as some European and Asian currencies have seen lackluster growth. A strong dollar makes US exports more expensive and reduces the profits of American companies operating overseas when earnings are converted back to dollars. And while a strong dollar lowers the cost of imported raw materials, it can boost inflation and hurt foreign investments. The families of victims of two fatal crashes of the 737 Max oppose the deal, the department said. Beyond the fatal crashes of the 737 Max jets, the company has faced a series of questions about the safety and quality of its planes.

Persons: it’s, Donald Trump, Joe Biden, Trump, ”, Lisa Shalett, Morgan Stanley, Louis Navellier, Jeanne Sahadi, Read, Max, Chris Isidore Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Republican, Morgan Stanley Wealth Management, Navellier, Associates, New York Federal Reserve, Boeing, Justice Department, Alaska Airlines Locations: New York, ”, China, Japan, United States

☆ Trump tax cuts: Top 5% of taxpayers would get nearly half the benefit if extended
▼ + stars: | 2024-07-08 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

For those in the top 1%, who make at least $1 million, that equates to a tax cut of about $70,000, on average, in 2027. The top 0.1%, who make at least $5 million, would pocket a tax cut of nearly $280,000, on average, or about 3% of their after-tax income. The TCJA contained a bevy of individual income and corporate tax reductions, making it one of the largest tax cut packages in US history. Unlike the individual tax provisions, most of the corporate measures are permanent. The deduction, which also expires at the end of 2025, allows these taxpayers to exclude up to 20% of their business income from their federal income tax.

Persons: Donald Trump’s, Trump, Joe Biden, ” Harold Gleckman Organizations: CNN, Urban, Brookings Tax, Center, White, Trump, Tax, Congressional, Office Locations: November’s

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