Wealth Management News & Insights
Americans Are Really, Really Bullish on Stocks, Why Opening a Roth I.R.A May Be a Good Move, Feeling Suddenly Older
Primary Sources
- Board of Governors of the Federal Reserve: The Federal Reserve, the central bank of the United States, provides the nation a safe, flexible, and stable monetary and financial system. [FRB]
Financial Markets
- Americans Are Really, Really Bullish on Stocks: U.S. households’ stock allocations recently accounted for around 42% of their total financial assets, the most on record in data going back to 1952. [WSJ]
- Coming to a Cash-Strapped Company Near You: Creditor-on-Creditor Violence: As private-equity-owned companies default, lenders are resorting to measures that seem extreme. [WSJ]
- Three Charts Show That America’s Imports Are Booming: After growing at rates that were the envy of the rich world, America’s economy now appears to be slowing. Yet imports would suggest otherwise. [Economist]
- The Hot Labor Market Has Melted Away. Just Ask New College Grads: Unemployment is still low, but job seekers are competing for fewer openings, and hiring is sluggish. That’s a big turnaround from recent years. [NYT]
- Hiring Softened This Summer, Teeing Up Fed Rate Cuts: Report doesn’t clearly resolve how much Fed might cut interest rates; unemployment rate edges down to 4.2%. [WSJ]
The table above showcases a group of 51 companies that have remained in the Fortune 500 list since its inception in 1955. These companies include Coca-Cola, ExxonMobil, and Chevron.
Financial Planning
- Interest Rates Have Dropped, but Homeowners Are Not Moving: Homeowners are afraid to leave behind great deals they locked in years ago, tethered to their property by “the rate-lock effect” or “golden handcuffs.” [NYT]
Retirement Planning
- Why Opening a Roth I.R.A. May Be a Good Move, No Matter Your Age: These retirement savings accounts, which are often pitched to young investors, can be a good option for older and retired workers. [NYT]
Business Strategy
- The 35-Year-Old CEO Plotting Red Lobster’s Comeback: The former P.F. Chang’s leader promises better service, food and interiors, but no more $20 unlimited shrimp on the standard menu [WSJ]
- 7-Eleven Rejects Takeover Bid From Big Canadian Chain: Japan’s Seven & i Holdings, the operator of 7-Eleven, has rebuffed a buyout offer that would have been the largest foreign-led acquisition of a Japanese company. [NYT]
- Number of ChatGPT Users (Aug 2024): In this up-to-date article, we’ll explore just how many users ChatGPT currently has, along with other relevant data about the fast-growing AI platform. [Exploding Topics]
Life & Work
- Fewer Teens Want to Drive. It’s Changing How They Spend: Young drivers point to high prices for cars and insurance, combined with other viable options, from public transportation to rides from Mom and Dad. [WSJ]
- The Kansas City Chiefs Are The NFL’s Current Dynasty — Here’s Why They Are Worth Less Than Teams That Regularly Miss The Playoffs: The NFL team that has won three of the last five Super Bowls is worth less than the organizations with the two longest playoff droughts in the league. [CNBC]
- Feeling Suddenly Older? Scientists See Aging ‘Waves’ at 44 and 60: New research suggests age-related changes aren’t as gradual and linear as we thought. [WSJ]
- Exercise May Be the Single Most Potent Medical Intervention Ever Known: Euan Ashley joins Derek to discuss the benefits of exercise and our current scientific understanding of why it helps. [The Ringer]
- We Tested Wi-Fi on Over 50 Flights. It Often Stinks, but It’s About to Get Better: What type of internet connection you get at 30,000 is hit or miss, but new satellite tech from SpaceX’s Starlink and others is ready for takeoff. [WSJ]
The above chart presents a comparison of in-flight Wi-Fi services across seven major airlines, detailing the providers, pricing, and promotional messaging for each. It highlights the key players in the industry, including Intelsat, Viasat, and Panasonic.