The collapse of Silicon Valley Bank and Signature Bank continues to bring scrutiny to FDIC coverage limits, which are typically $250,000 per depositor. On Friday, President Joe Biden said the FDIC could guarantee deposits above $250,000 if further instability occurs. However, experts say it is possible to get more insurance on your deposits on your … Read more
Pandemic-related emergency funding for the Supplemental Nutrition Assistance Program, formerly known as food stamps, ended this month in most states. For retailers like Kroger, Walmart and Dollar General, falling SNAP dollars will put pressure on discretionary sales. Add to that lower tax refunds on average this year, and buyers will have less money to split. … Read more
I am try to get outside advice on the possibility of retiring in the next 5 For 7 years. I amI have to work until I’m 59.5 to be able to start using the retirement funds. We have about $1.4 million in 401(k) and Roth accounts, $30,000 in stock, a rental house we owe $245,000 … Read more
Sopa Pictures | Light flare | Getty Images Nike continues to attract sneakerheads and sportswear enthusiasts. The retailer reported revenue of $12.4 billion for its fiscal third quarter of 2023, beating analysts’ forecast of $11.47 billion, according to consensus estimates from Refinitiv. The company also reported earnings per share (EPS) of $0.79, versus $0.55 expected … Read more
Digital artist FEWOCiOUS is auctioning off five NFT works of art, along with five physical paintings and drawings at Christie’s on June 28, 2021 in New York City. Noam Galai | Getty Images Entertainment | Getty Images The IRS has said it plans to tax certain non-fungible tokens, or NFTs, as collectibles akin to art … Read more
A credit crunch is a significant tightening of lending standards between banks. Loans are more difficult to obtain and become more expensive. The banking crisis triggered by the failures of Silicon Valley Bank and Signature Bank will likely lead small and medium-sized institutions to prioritize a healthy balance sheet. The prospect of a recession led … Read more
The Silicon Valley Bank collapse and banking crisis is “an excellent case study” for clients, says a financial adviser. When Silicon Valley Bank could not cover its customers’ withdrawal requests, it was forced to sell its Treasury bills before maturity at a steep loss. “The first line of defense should always be money,” says Lazetta … Read more
Butter. Burgers. Sausages. Store-bought pastries, cakes and cookies. Oh, and sodas, sweet or diet. They’re all bad, and they all increase our risk of dementia – by a lot. So reports one of the largest and most chilling studies ever, involving around 60,000 people in their 40s, 50s and 60s. The study, involving massive numbers … Read more
I inherited a house in San Francisco from my aunt. My aunt had rented her basement to an older couple (probably illegally) for a few years at below market prices. I don’t believe there was a lease, and it’s probably against building code to have tenants in the basement. The couple’s family lives nearby. I … Read more
The federal government helped customers of Silicon Valley Bank and Signature Bank get their funds back this week, even though their deposits were uninsured. If other institutions fail in the future, customers may have to rely on FDIC insurance, Treasury Secretary Janet Yellen said this week. Importantly, FDIC insurance has limits. Here’s how to make … Read more
