Walmart made its biggest acquisition ever when it purchased Indian e-commerce company, Flipkart last year. What the American retailer didn't know then, was that a subsidiary of the e-commerce company would end up being a runaway success in the digital payments market. Flipkart's PhonePe (pronounced phone-pay) has seen the volume and value of its transactions quadruple since last year. Bloomberg's Saritha Rai reports: The startup was founded in December 2015 by three friends who left Flipkart to get it off the ground. Within a year, Flipkart founders Binny Bansal and Sachin Bansal decided … [Read more...]
Archives for July 2019
How Can You Save Money for Your Grandchild?
The short answer is, early. The earlier you can start saving for your grandchild, the greater the impact you'll have on their life. Take a trip with me. Let’s say you help a grandchild get into the savings game when they’re born by contributing $525 per year to an account you establish for them. (I favor UGMAs for this purpose). You diligently save each year for her first 21 years. Then when she turns 22, she continues along the same path, saving $525 on her own each year until she’s 64. Look at my table below to compare her success to someone who begins his investment savings at age … [Read more...]
Will Amazon Face Employee Fury on Prime Day?
Employees at Amazon's fulfillment center in Shakopee, Minnesota are threatening the company with a six-hour shutdown on one of the company's busiest days of the year, its annual Prime Day sale. Amazon has said that it already provides employees at the facility with everything they're demanding, but some still seek government assistance. Bloomberg's Josh Eidelson and Spencer Soper report: Workers at a Shakopee, Minnesota, fulfillment center plan a six-hour work stoppage July 15, the first day of Prime Day. Amazon started the event five years ago, using deep discounts on televisions, toys and … [Read more...]
Is the FCC About to Shut Down Those Annoying Robo-Calls?
Americans who are constantly being harassed and annoyed by fraudulent texts and calls to their cell phones may soon get some relief. FCC Chairman Ajit Pai is working on a plan to go after the culprits of such schemes. Rob Marvin explains in PC Mag: The FCC is taking another step in the battle against robocalls: stopping spammers from spoofing IDs in text messages and international calls. A new proposal from FCC Chairman Ajit Pai would, in short, implement and enforce 2018's RAY BAUM's Act. According to the agency, the 2009 Truth in Caller ID Act prohibits misleading or inaccurate caller ID … [Read more...]
Is the Street finally Souring on Apple?
Rosenblatt Securities is the latest firm to list a sell rating on Apple. That's five now, of the 57 tracked by Bloomberg. That's the most sell ratings on Apple since 1997. Bloomberg's Ryan Vlastelica reports: Skepticism surrounding the company has accelerated in 2019, with all five of the sell ratings coming in this year. Both New Street Research and HSBC lowered their ratings on the stock to sell in April, and in January, the number of firms with buy ratings dropped below 50% for the first time since 2004. The caution has been largely driven by uncertainty surrounding demand for the … [Read more...]
These Americans Are Never Going to Retire
A poll conducted by The Associated Press-NORC Center for Public Affairs Research found that 23% of Americans don't expect to stop working during their lives. Andrew Soergel writes in The Washington Times : “The average retirement age that we see in the data has gone up a little bit, but it hasn’t gone up that much,” says Anqi Chen, assistant director of savings research at the Center for Retirement Research at Boston College. “So people have to live in retirement much longer, and they may not have enough assets to support themselves in retirement.” When asked how financially comfortable … [Read more...]
A Scorched Earth Investment Landscape: FIRE! (Part V)
“Never forget what I’m telling you here” -Dick Young When it comes to living off a portfolio for a lifetime, the word lifetime can mean different stretches of time for different investors. As you read in parts I, II, III and IV, I’ve been studying the FIRE movement—Financial Independence, Retire Early—to help teach the next generation how to think about money, and to help you think about your retirement. Like I have said, if this group is retiring in their 30s, and living off their retirement savings for the rest of their lives, then we should be able to pick up some intelligence. Which … [Read more...]
Is Your Portfolio Balanced Like a Harley?
With over 100,000 miles of Harley touring behind me, I can assure you of the value of a smooth ride. No one enjoys being jolted and jarred, not on the road or in securities markets. When markets become volatile, every investor is looking for smoother performance. In August 2013 I explained that the key to smooth performance, whether on the road or in markets is counterbalancing. I wrote: Managing a common stock portfolio takes— above all else—patience. Your goal should never be what to sell next; rather, it should be what stocks you can hold through thick and thin. It is true that portfolio … [Read more...]
Tired of Sitting in the Waiting Room? There May Be a Solution
With the preponderance of technological solutions helping humans live easier each day, one nuisance of life has somehow survived, waiting in the doctor's office. Now, a company named Omada is looking to cut down the amount of time people spend in doctors' offices by using technology to deliver some services right to patients' homes. CNBC's Christina Farr reports: Omada now has 550 companies paying for its services that they provide to customers. Those clients include Costco, Cigna and Lowe’s, as well as more than 35 health plans. Unlike many other digital health start-ups, Omada focused … [Read more...]
Will You Outlive Your Money? FIRE! (Part IV)
In parts, I, II, and III you learned about those who have embraced the FIRE lifestyle—Financial Independence, Retire Early—and the ways it can help you in your own life. One of the things I think you and I will learn from this movement is if it’s truly feasible to live off a portfolio for 60-plus years—a necessity when retiring in one’s early 30s. But this is not your typical set-it-and-forget-it retirement demographic. Self-reliance is a way of life for the FIRE movement. Yes, they are casting off the lines and heading out to the sea of financial independence with a portfolio that … [Read more...]
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