Analysis: After the debt deal: 5 money moves to make now
WASHINGTON (Reuters) – Now what? If you’re confused by the debt deal and what it means for your own wallet, you’re not alone.
The fine print in the deal raises more questions than it answers. Almost all discretionary federal spending will face some cuts over the next 10 years, with defense spending taking a comparatively heavy hit. The bill calls for $917 billion in initial cuts over 10 years, with roughly $350 billion of that in defense and security spending.
U.S. Congress debt deal may hit some student borrowers
WASHINGTON, Aug 1 (Reuters) – Some student loan subsidies
may take a hit in the big debt deal working its way towards a
vote in the U.S. Congress on Monday.
The White House and congressional leaders scrambled for
enough support from skeptical lawmakers on Monday to push
through an 11th-hour deal to cut the fiscal deficit and raise
the U.S. borrowing limit to avert a debt default.
Analysis: Advisers say time is right for high-yield stocks
WASHINGTON (Reuters) – Prompted by a host of financial and economic developments, a growing number of investment advisers are steering their clients toward dividend-paying stocks.
“We are resolute in our belief that large, high-quality, dividend-paying companies, many of which are hiding in plain sight, offer a compelling investment option for growth and income,” Mark Luschini, chief investment strategist at Janney Montgomery Scott, wrote in his latest memo to investors.
Stern Advice: Is it 1999 all over again for tech stocks?
WASHINGTON, July 20 (Reuters) – I wasn’t one of those
people who lost a bunch of money when dot-com stocks blew up in
2000, but to be honest, that’s because I didn’t make a lot of
money in the bubblicious run up, either.
I still remember naively waiting for new companies like
Amazon, AOL and Pets.com (remember that one?) to show a profit
before jumping in.
Consumers buy the wrong credit scores, new agency warns
At least some of the millions and millions of dollars that consumers shell out to buy their credit scores could be misspent, and possibly even damaging, the Consumer Financial Protection Bureau suggested in a report released today.
Consumers spend more than $1 billion a year buying credit reports and credit scores from credit rating agencies or other online scoring sites, the study said.
Financial disclosures can make advice worse: Yale study
Washington watchers are sure to see a lot of one particular word in the months to come: disclosure.
The Securities and Exchange Commission is preparing a fiduciary standard for brokers that is expected to require them to disclose their financial conflicts. The Consumer Financial Protection Bureau plans to launch next week with a plan for new mortgage term disclosure forms. And Elizabeth Warren, the president’s adviser who set up that agency, has given speech after speech in which she discusses the virtues of requiring clear disclosures as a mode of financial regulation.
Stern Advice: Here comes the CFPB
WASHINGTON, July 13 (Reuters) – The much vaunted and feared
Consumer Financial Protection Bureau officially opens for
business next week.
When it does, it will most likely have a laundry list of
consumer issues to manage, a smaller budget than it asked for,
and an empty chair where its director should sit.
Now or later? AARP’s new Social Security calculator
When should you turn on the tap that gets your Social Security benefits flowing?
If you’ve got an itchy finger you might want to check out the brand-new calculator unveiled today by the AARP. It’s a clear and multi-featured tool that professes to help workers and retirees decide when they should start taking benefits. But what it really does is encourage everyone to wait as long as possible before they start collecting.
New free credit scores: What you need to know now
There’s an irony about the new credit score disclosure rules issued by the Federal Reserve Board on July 6, and this is it: Would-be borrowers who are most likely to get their credit scores for free are still the people who may find it advantageous to buy their scores.
The borrowers who won’t get their scores may find they don’t need to buy them, either.
Stern Advice: How to help your kids buy a house
WASHINGTON (Reuters) – In some circles, the graduation gift du jour is a Manhattan apartment, according to a recent New York Times story. Note to my kids: Sorry, we are not in those circles.
Still, it would be nice. Given current market conditions, a compelling argument could be made for helping your kids buy their first home.
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