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Monthly Archives: July 2022

Emergency savings are minimal or nonexistent for many households. Lawmakers want to change that — and boost retirement savings in the process

[CNBC, Getty Images] KEY POINTS The share of Americans who are comfortable with their emergency savings dropped to 42% in June from 54% two years ago, a survey shows.Households with cash for unexpected expenses are less likely to dip into retirement savings, experts say.It’s uncertain whether either of two Senate proposals will make it into […]

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3 tips for making a passive income so you can quit your job, from entrepreneurs making $8,000/month or more

[CNBC] There are many ways to build a passive income. Among the most popular, historically, have been investing in a given portfolio and letting compounding interest make that money grow and buying and renting out properties. But as social media and platforms like YouTube grow in popularity, many content creators are learning they can reap the benefits of passive income themselves. […]

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Nasdaq Bear Market: 5 Tremendous Growth Stocks You’ll Regret Not Buying on the Dip

[The Motley Fool, Getty Images] KEY POINTS Though bear markets can be unnerving, they’re the perfect time for long-term investors to go on the offensive.These five fast-paced stocks are well positioned for double-digit growth, no matter what the economy throws their way. These phenomenal growth stocks are ripe for the picking, following a 34% peak […]

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One ticket in Illinois won the second-largest Mega Millions jackpot of nearly $1.34 billion

[CNN] The chase for the second-largest Mega Millions jackpot has ended — with a single ticket sold in the Chicago area for the whole $1.337 billion. One ticket bought in Des Plaines hit the top prize in Friday night’s drawing, according to the Illinois Lottery, securing the third-largest jackpot of any US lottery game and ending a buildup that began […]

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Tech’s great layoffs: Over 30,000 tech employees lost their jobs as of July. These are their stories in their own words.

[Business Insider, Getty Images] Over 30,000 tech workers have lost their job as of July.Insider spoke to employees from Tesla to Coinbase to hear their stories.These are their stories of the personal and economic toll of layoffs in the industry. According to the latest data from the US department of labor, unemployment claims have jumped to an […]

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3 ways Black investors can bounce back from crypto losses and build wealth, according to a couple who retired in their 40s

[Business Insider, Phyllis Iller] 38% of Black investors under 40 own cryptocurrency, compared to 29% of white investors under 40.When the price of bitcoin dropped in June, the Black community was disproportionately affected.Kiersten and Julien Saunders of rich & REGULAR say you can still bounce back and build wealth. After a long bull run in […]

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Nearly 75% of retailers plan to accept cryptocurrency payments within the next 2 years

[CNBC, Getty Images] From Starbucks to Lamborghinis, consumers are using cryptocurrency to pay for a variety of goods — and retailers are taking notice. Nearly 75% of retailers plan to accept either cryptocurrency or stablecoin payments within the next two years, according to a June survey conducted by Deloitte titled “Merchants getting ready for crypto.” Deloitte polled a sample […]

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U.S. Bank illegally used customer data to create sham accounts to inflate sales numbers for the last decade.

[Business Insider] Now they’ve been fined $37.5 million plus interest on unlawfully collected fees. U.S. Bank was fined for using customer data to open sham accounts and new lines of credit without permission. Employees were pressured to access customer credit reports and open new accounts to inflate sales numbers.The bank is required to pay $37.5 million […]

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Crypto market stands like Nasdaq in the early 2000s. Here’s why

[MarketWatch As the Federal Reserve raised its benchmark interest rate for the fourth time this year on Wednesday to cool off inflation, I caught up with Ben McMillan, founder and chief investment officer at IDX Digital Assets, to chat about the recent status of the crypto market. Crypto in a snap Bitcoin BTCUSD gained 0.8% over the past […]

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Dollar pares gains as US growth contracts for second quarter

[Reuters, Getty Images] The dollar pared gains on Thursday after data showed that the U.S. economy contracted again in the second quarter, fueling speculation that the Federal Reserve will not raise rates as high as previously expected. Gross domestic product fell at a 0.9% annualized rate last quarter, the Commerce Department said in its advance […]

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