Finance

Can Sheila, a recent empty nester with four kids, retire comfortably when she turns 62?

September 4, 2024

Sheila’s retirement spending target after the mortgage on her home is paid off is $80,000 a year after tax.Christopher Katsarov/The Globe and Mail

Sheila is single, almost 56 years old and a recent empty nester, with four kids in postsecondary school or living on their own, she writes in an e-mail. “I’m thinking about retirement and wondering what my financial future looks like.”

Sheila earns about $187,000 a year in salary, bonuses and incentives. She has a small Canada Pension Plan survivor benefit of $5,150 a year.

In the short term, she wants to support her children through university,

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Finance

Former Australian Medical Affiliation President Says COVID Vaccines Are A lot Extra Harmful Than Thought

February 4, 2024

December 21, 2022 · 6:52 AM

The assorted obtainable vaccines, probably even completely different batches from the identical producer, have completely different adversarial impact profiles

From Information.com.au:

Former federal MP [Member of Parliament?] Dr Kerryn Phelps has revealed he and his spouse each suffered severe and ongoing accidents from Covid vaccines, whereas suggesting the true charge of adversarial occasions is much increased than acknowledged because of underreporting and “threats” from medical regulators.

In an explosive submission to Parliament’s Lengthy Covid inquiry, the previous Australian Medical Affiliation (AMA) president has damaged her silence concerning the “devastating” expertise — rising as essentially

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kirara
Finance

TD Bank-First Horizon meltdown has traders scrambling for protection

May 10, 2023

Merger arbitrage traders were expecting hiccups in Toronto-Dominion Bank’s proposed takeover of First Horizon Corp., but they were unprepared for what happened on May 5 when the US$13.4 billion transaction melted down.

The deal spread had been widening in recent months, as some traders were anticipating a price cut. But a total collapse weeks ahead of the May 27 deadline was not in the cards. Now, these traders are desperately seeking protection in a market that’s reluctant to give it as First Horizon shares nosedive.

“It’s painful,” said Cabot Henderson, who focuses on arbitrage

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Finance

Lifelong renters need to save 50% more for retirement than homeowners: Study

May 2, 2023
Rows of residential towers in a dense urban cityscape.

A new Mercer Canada study says millennials who are lifelong renters would need to sock away 50% more cash than homeowners in order to save enough for retirement.

As the housing market grows more unaffordable, there’s more bad news for young Canadians who feel like they will never own a home.

A new study by consulting firm Mercer Canada says millennials who are lifelong renters will have to save 50 per cent more than their home-owning counterparts to have enough money in retirement.

One of the main reasons is that homeowners can reap the benefits of home appreciation, lower shelter

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Finance

Bolivian Central Bank Is Rebuilding Reserves, Finance Chief Says

April 20, 2023

(Bloomberg) — Bolivia’s central bank is rebuilding its international reserves as it deals with a “transitory” liquidity problem affecting the country, according to Finance Minister Marcelo Montenegro.

The minister declined to elaborate on what the current level of reserves was, but said it had increased recently. The central bank board can decide to withhold the data to avoid creating “more speculation,” he said.

“They’re replenishing them,” Montenegro said in an interview on the sidelines of the International Monetary Fund’s spring meetings in Washington. “The central bank is the only institution that can publish those

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Finance

Millennials Face Challenging Financial Issues. Here’s What The Experts Have to Say to Them

April 18, 2023
financial planning for millennials

financial planning for millennials

Millennials — generally defined as adults born between 1981 and 1996 — face some unique challenges when it comes to financial planning. While the oldest millennials are entering midlife and potentially their peak earning years, the youngest may just be getting settled into their careers. As a result, financial planning for millennials can span a wide variety of needs, goals and solutions.

For more help with financial planning, consider working with a financial advisor.

Why Is Financial Planning Important for Millennials?

Generally, it’s easier to manage money and reach your goals when you have a strategy

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Finance

BC Securities Commission bans lawyers over role in fraud

April 12, 2023

BC’s securities regulator has permanently banned a Vancouver lawyer from the financial markets after he was convicted in a US court for his role in a US$34-million fraud.

In 2018, the US Securities and Exchange Commission accused Faiyaz A. Dean of engaging in a “fraudulent scheme to effect illegal, unregistered sales of and manipulating the market” for shares of a company called Biozoom Inc., according to a sanctioned decision by issued a panel of the BC Securities Commission on Wednesday.

Dean did not participate in the US court proceedings, and a default judgment was entered against him in November 2019,

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Finance

Stocks soar after First Republic gets $30 billion injection

March 16, 2023

US stocks rallied on Thursday after a consortium of 11 of the biggest US banks banded together to inject $30 billion in capital into troubled bank First Republic (FRC) as the sector works to stave off a broader financial crisis in the wake of multiple bank failures since last Wednesday.

At the closing bell, the S&P 500 (^GSPC) was up 1.7% and the Dow Jones Industrial Average (^DJI) higher by 1.2%, while the tech-heavy Nasdaq Composite (^IXIC) led gains for the session, rising 2.5 %.

Late Thursday afternoon, 11 banking giants led by JPMorgan (JPM) and Bank of America (BAC)

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