annuities
Like it or not, digital technology permeates nearly every financial activity we perform today. The economic landscape—which includes financial services and banking—is shifting to the digital space at an accelerated pace, and things will only move faster in the coming years. Deloitte predicts that by 2025, finance will be highly automated and will double down on fields like financial information and business insights. Future transactions will increasingly become touchless as technologies like blockchain merge into operations. Cycles will also move in real-time. Periodic reporting will no longer...
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When it comes to retirement planning, much of the focus usually rests on the actions you have to take to prepare a nest egg for your golden years. But what if your retirement savings run out before you do? This is where the concept of longevity risk comes into play. Longevity risk is a growing concern as life expectancies in certain countries and regions continue to rise. Let’s explore the idea that you may outlive your retirement savings, why that matters, and how it can impact your ongoing attempts at building a retirement plan. Most importantly, we’ll discuss various strategies and solution...
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The United States stock market opened today to a cautious post-Easter floor as healthcare systems see the brunt of trepidation. The U.S. stock market has seen a boom in the first quarter of 2024, which had investors looking forward to the rest of the year, but the sluggish start to April has those purse strings guarded, especially for the healthcare sector. Healthcare stocks slideAfter the shock announcement that private Medicare payments would not be boosted to expected rates, the healthcare scene in the stock market has shown a sharp decline. Walk-In pharmacy CVS had its shares slide by 6%, ...
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The Department of Defense (DoD) has found a California man guilty of defrauding the Defense Logistics Agency (DLA) for $3.5m by selling counterfeit fans. The ruling came after the defendant Steve H.S. Kim, 63, of Alameda County, was found to have fraudulently sold $3.5 million of faulty and stolen items. Faulty fans defraud the DLANicole M. Argentieri, the Principal Deputy Assistant Attorney General said “The defendant sold counterfeit and deficient fan assemblies for use in military systems to increase his profit.” “Criminals who cheat the U.S. military by selling deficient or counterfeit goo...
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The founder of cryptocurrency firm FTX is set to serve twenty-five years behind bars after misleading customers and investors. Sam Bankman-Fried (SBF) would oversee one of the biggest financial investment collapses in American history and would set a grim watershed for digital currency. Samuel Bankman-Fried, FTX founder jailedU.S. District Judge Lewis Kaplan would ignore the pleas of SBF who said that investors did not lose money in the collapse of the currency. Judge Kaplan laid down a sentence of twenty-five years to the founder of FTX and Alameda Research. SBF was found to have misappropria...
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In a recently released research document, Oxfam stated that major United States companies contribute to global inequality. The charity said, “The largest US corporations have been driving the inequality crisis, actively concentrating power and money in the hands of wealthy CEOs and shareholders while limiting the power of workers, influencing our politics, avoiding taxes, and accelerating climate change.” Oxfams corporate researchOxfam’s research document analyzes two hundred of the top United States public corporations across seventy-eight different indicators. The research reportedly shows t...
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Victim mentality is a psychological phenomenon that is often misunderstood and misinterpreted. It can be deeply ingrained in a person’s self-identity, influencing their thoughts, behaviors, and relationships, and yes, it affects your finances. This mindset is characterized by a constant feeling of being victimized, even when this is not the case. Unraveling the concept of victim mentalityPeople with a victim mentality often perceive themselves as the target of others’ actions, decisions, or misfortunes, even when there is no objective evidence to support these beliefs. They tend to blame other...
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Ripple Labs, a technology and cryptocurrency company, must pay the United States Securities and Exchange Commission (SEC) a presumed $2 billion in fines. The news comes from Ripple Lab’s Chief Financial Officer (CFO), Stuart Alderoty, who took to social media to post about the impending action from the SEC: Ripple CFO on social mediaThe CFO of Ripple Labs would continue his comments on the proposed financial charges levied at the crypto giant in a four-post thread on X: “Our response will be filed next month, but as we all have seen time and again, this is a regulator that trades in statements...
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Credit cards can be a highly convenient tool for facilitating daily transactions and managing personal expenses. They can also earn financial rewards, get free credit scores, secure payments from fraud, and get valuable benefits like purchase and price protection. However, if they are poorly managed, they can quickly become a financial burden. As bills rack up, cardholders may be unable to pay little more than the minimum required monthly. Paying the minimum required monthly balance on your credit card may seem simple and innocuous to manage your finances. This method can even offer a reprieve...
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The current inflation issues, rising interest rates, and geopolitical volatility have a significant impact on the global economy. It’s prudent to refine your options for investments plans, safeguard your money and ensure financial freedom for retirement. Your retirement investment options should consider your probable time horizon and risk appetite. Typically, understanding your financial standing and available options can help you welcome your retirement years with confidence. Solid Investment Options for Your RetirementHere are some tested retirement investment options to protect and multipl...
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