Goodbye to High-yield Savings Accounts

Goodbye to High-yield Savings Accounts

$DIA $SPY $QQQ $RUTX $VXX For years, the high-yield saving products were a success for both consumers and financial institutions alike. After getting almost Zero interest from big US banks, individuals who parked their excess cash with the likes of Ally Financial Inc., Barclays Plc, Goldman Sachs Group Inc.’s consumer bank, Marcus, or HSBC Holdings Plc’s HSBC Direct […]

Manafort Trial Update: Mistrial on 10 Counts, Guilty on 8 Counts

Manafort Trial Update: Mistrial on 10 Counts, Guilty on 8 Counts

Manafort Trial Update: Mistrial on 10 Counts, Guilty on 8 Counts Tuesday, President Donald Trump called former campaign Chairman Paul Manafort a “good man” and again hammered Special Counsel Robert Mueller’s Russia probe as a “witch hunt” less than an hour after Mr. Manafort was found guilty of bank and tax fraud. “I must tell you […]

Expat Americans Continue to Renounce Citizenship

Expat Americans Continue to Renounce Citizenship

Expat Americans Continue to Renounce Citizenship A steady stream of American citizens reportedly have renounced their citizenship since the implementation of stricter tax rules. Many Americans who live in other countries face higher tax bills, difficulty in obtaining and keeping financial accounts and complex retirement savings rules Some advocates urge the US government to tax […]

Twitter (NYSE:TWTR) Suspends 300-K Accounts Tied to Terrorism

Twitter (NYSE:TWTR) Suspends 300-K Accounts Tied to Terrorism

Twitter (NYSE:TWTR) Suspends 300-K Accounts Tied to Terrorism $TWTR Twitter Inc. (NYSE:TWTR) said in a new report that improving automation tools are helping block accounts that promote terrorism and violence. In 1-H of Y 2017, Twitter said it suspended nearly 300,000 accounts globally linked to terrorism. Of those, roughly 95% were identified by the company’s […]

The Trump Rally Swells Retirement Accounts Balances

The Trump Rally Swells Retirement Accounts Balances

The Trump Rally Swells Retirement Accounts Balances $DIA, $SPY, $QQQ, $VXX Retirement savings account balances have hit all-time highs. A string of record 401(k) and IRA account totals now stretches across three consecutive quarters, according to Q-2 data from Fidelity Investments. The data covers 22,155 companies and 15.1-M 401(k) plan participants, as well as 8.8-M […]

Bank of America (NYSE:BAC) Paralyzed by Computer Breakdown

Bank of America (NYSE:BAC) Paralyzed by Computer Breakdown

Bank of America (NYSE:BAC) Paralyzed by Computer Breakdown $BAC Bank of America (NYSE:BAC) customers were locked out of their accounts in a system outage that lasted several hours. The problem, which generated complaints from customers across the US, prevented people from accessing accounts on Smartphones and other devices according to reports. BofA spokeswoman Jumana Bauwens […]

American’s With Foreign Accounts, Listen Up

American’s With Foreign Accounts, Listen Up

American’s With Foreign Accounts, Listen Up If the total balance of your foreign financial accounts exceeds $10,000 at any time during a calendar year, then you must file an “FBAR” (FinCEN Form 114, Annual Report of Foreign Bank and Financial Accounts) with the US government for that year. An FBAR for a given year is […]

The Earlier Millennials Start Saving, The Easier to Accumulate “Nest Egg”

The Earlier Millennials Start Saving, The Easier to Accumulate “Nest Egg”

The Earlier Millennials Start Saving, The Easier to Accumulate “Nest Egg” $DIA, $SPY, $QQQ, $VXX Young workers today probably cannot think about retiring for 40 or 50 years. Longer lives and the prospect of weaker investment returns mean millennials will probably have to save more money, over a longer period of time, than their Parents […]