Latest news with #Fidelity
Yahoo
an hour ago
- Business
- Yahoo
Wall Street is now ‘aggressively' tracking an asset that's outpaced U.S. debt since the Obama era
Wall Street is now 'aggressively' tracking an asset that's outpaced U.S. debt since the Obama era originally appeared on TheStreet. In 2010, the U.S. national debt was about $13 trillion. Fifteen years later, that number has nearly tripled, crossing a staggering $37 trillion. But while Washington keeps borrowing, another chart has quietly gone parabolic — and it doesn't show more red ink. It shows an asset that once traded for fractions of a cent now hovering near $105,000, yes we are talking about Bitcoin. An asset that, unlike the dollar, wasn't printed at will — but mined, block by block. That's a 3.3 billion percent increase. Yes, billion — with a B. Fifteen years ago, this asset couldn't buy you a gumball. Today, it can buy you a home. What changed? The answer lies in a global shift away from trust in traditional monetary systems. Robert Kiyosaki, author of Rich Dad, Poor Dad, once put it bluntly, 'America is broke right now... I hate to say this but inflation's here to stay, incompetence is here to stay, and they're going to keep printing more money to pay for the debt... We just keep printing money to solve our problems, but we can't go on much longer..' 'As I have been warning for years, the best way to protect yourself is not by saving fake fiat money… You bail you and your family out by saving real gold, silver, and Bitcoin. No ETFs.' And the last few years have made that painfully clear — grocery bills are up, rent is up, and the purchasing power of savings is down. Since 2020, the U.S. has pumped trillions into stimulus and rescue packages — around $7.6 trillion, to be exact. But imagine if even 1% of that had been redirected into this asset. That $76 billion could have sparked a rally adding hundreds of billions in market cap, reshaping how Washington — and the world — thinks about financial reserves. It's not just about hypothetical gains. In the same window the U.S. printed money, this digital asset gained institutional legitimacy. ETFs got approved. Companies like BlackRock, Fidelity, GameStop, and even entire nations like El Salvador made moves to include it in their portfolios or treasuries. Even the cultural narrative shifted. Once dismissed as internet 'magic money,' it's now become a symbol of financial autonomy — laser eyes, Twitter memes, and all. At the heart of this story is a deeper conflict — one between two monetary systems. On one side is fiat currencies, which can be printed indefinitely, taxed unevenly, and inflated quietly. On the other: an asset with a hard cap, no central issuer, and a transparent supply schedule. Fiat systems are flexible, sure. They let governments react to crises. But that flexibility comes at a cost — inflation, misallocation, and eventually, mistrust. As the U.S. debt climbs past $37 trillion, the idea that 'we owe it to ourselves' starts to feel less comforting and more disconnected from reality. The bigger story isn't just about numbers. It's about philosophy. What does it say when people start choosing code over currency? When institutions quietly shift reserves away from treasuries? It says we're in the middle of a monetary pivot, one where trust is no longer earned through reputation, but proven through protocol. And as America's debt clock keeps spinning, some are choosing to step off the wheel entirely. Wall Street is now 'aggressively' tracking an asset that's outpaced U.S. debt since the Obama era first appeared on TheStreet on Jun 20, 2025 This story was originally reported by TheStreet on Jun 20, 2025, where it first appeared.
Metro
8 hours ago
- Business
- Metro
Exact amount you'll need in savings at age 30 to be able to retire revealed
Have you ever wondered exactly how much money you'll need to retire? Well, there's no need to question anymore, because we have the answer for you. Heads up though, you might not like it. Based on the current retirement age of 66, or earlier if you're lucky, investment management company Fidelity has revealed the recommended amount of savings you'll need by age 30 to achieve financial freedom after retirement. Note that said age will rise to 67 between 2026 and 2028. It's then scheduled to increase again to 68 between 2044 and 2046. To be able to pack in work for good and live a comfortable life, you'll need to have saved one times your annual salary by your 30th birthday, according to Fidelity. To explain, if you're on £30k by 30, that's how much you'll need to have stashed away in the bank. If you're on £40k, that's what you should have saved. If you're on £50k, you'll need around that amount to maintain your lifestyle. You get the picture. Sounds daunting, right? Especially when the majority of our wages go on rent or mortgage, bills and food. The news gets worse if you live in London, as the average tenant spends roughly 44.5% of their take-home pay on rent. So, if you decide to pursue this retirement fund route, it means you can say goodbye to holidays, meals out, or any other simple pleasures for the foreseeable. Also note that the longer you're in your job, you'll likely be climbing the ladder and chasing better pay. So be mindful that whenever your salary increases, you'll have to increase the amount you put into your savings each month. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Of course, it all depends on your current age, salary, and how much you have in the bank right now. But say you're 21 with no savings and have a goal of reaching £30k by the time you're 30. This means you have nine years to save. Every year, you'll need to deposit £3,333.33. That equates to £277.78 monthly. Metro recently found out the average amount of savings Brits have by their age. If you're looking to save £30k by 30, or the exact amount of your wage, be it higher or lower, these benchmarks will make it easier for you when calculating your monthly savings deposits. 18-24: People between the ages of 18 and 24 have £3,636 in their savings on average. 59.9% of this category have less than £1,000, while just 3.8% have over £10,000. 25-34: In the 25-34 age bracket, the savings number jumps slightly to £3,748. Plus, 59.2% have less than £1,000, and 8.6% have over £10,000. 35-44: If you're aged between 45 and 54, the standard amount of savings you have put away is £9,402. In this demographic, the percentage with less than £1,000 falls to 44%, and people with over £10,000 also increases to 15.5%. 55-73: Granted, some people in this age bracket are state pension age or older. But in terms of savings, on average, this age group has £18,245 stashed away, while 37.9% have less than £1,000. Finally, 27.5% have over £10,000. Now you've seen the average savings, you'll likely have to save a little less monthly to reach your goal. That is, if your current finances align with the above. But again, if we're going by the £30k by 30 mark, those between 18 and 24 should theoretically only need to save £26,364. For 25 to 30-year-olds, based on the average savings, the amount you'd need to save is £26,252. As of April 6 2025, the new State Pension increased by 4.1%. So, those eligible for the full amount will receive £11,973 per year. That's just £230.25 per week. This is compared to £221.20 a week for the 2024/25 tax year. More Trending To qualify for this, you'll need 35 years of National Insurance Contributions. Those receiving the basic State Pension will get less. For the 2025/26 tax year, this number is £176.45 a week. That equates to £9175.40 per year. People earning the basic State Pension will usually need 30 years of National Insurance contributions. If you have at least 10 qualifying years on your National Insurance record, you typically get a portion of the State Pension. Those with gaps in their National Insurance record will be able to make voluntary contributions to increase their State Pension amount. In 2022, researchers at Loughborough's Centre for Research in Social Policy created a set of three retirement living standards, detailing exactly how much money pensioners need to maintain each one. The three standards are: minimum, moderate and comfortable. The higher you are on the scale, the easier your retirement will be financially. For a comfortable retirement, you'll have zero money woes. But, to achieve this stress-free life, the research revealed you'll need to save £43,100 per year for one person and £59,000 for a couple. For a single person with a full State Pension to be retired for 15 years, the 'comfortable' lifestyle requires savings of £473,970 overall. A weekly grocery shop in this camp equates to £130, while a more generous £80 per couple can be spent on meals out every week. Still, only one small second-hand car is required, rather than one each for a couple. However, this allows for more luxuries like regular beauty treatments, two European holidays a year, and other pricey leisure activities like theatre trips. Find out the money margins for minimum and moderate retirement lifestyles here. View More » Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
Yahoo
12 hours ago
- Business
- Yahoo
6 Ways To Keep Your Estate Taxes Low
Estate planning isn't the sexiest topic on the planet, but it's worth thinking about as you're deciding how to pass on assets onto your beneficiaries. Sure, you want to ensure that your wishes are honored, making plans on keeping your estate taxes as low as possible. Discover More: Read Next: Fidelity, one of the largest financial institutions in the U.S., suggests that you consider these six factors as you work out how to keep estate taxes low. The first three have to do with how estate taxes could affect your heirs, whereas the others are more directly tied to helping you lower them. Right now, you might not have much to worry if taxable assets in your estate are under $1.399 million if you're single, or $27.98 million for married couples. However, the Tax Cuts and Jobs Act (TCJA), enacted in 2017, is set to expire by the end of 2025. Unless changes are made, the exemption for estate taxes will go down to about half the amount, adjusted annually for inflation. Even if you believe your estate is much smaller than around $5 to $6 million, you never know if by the time you pass away, you'll have that amount. Think about it: After adding up other assets like vehicles and balances in various retirement accounts, your estate could easily get close to or above the tax exemption threshold. Check Out: Your state may have different laws when it comes to your estate. Some may have lower tax exemption thresholds. For example, Iowa, Pennsylvania, Nebraska, and New Jersey have an inheritance tax on all assets inherited by beneficiaries. The amount of inheritance tax paid will depend on their relationship with you. Other states have much lower exemption amounts. Kentucky, for example, is $1,000, whereas Oregon's is $1 million. Even if you're well under the estate tax exemption in your state, it may be higher in the future. Your home value rises over time. If you don't expect to have your heirs inherit your property for decades, the increase in value could bump it up well past those exemptions. It might be a smart idea to take stock of all the assets you plan on giving to your beneficiaries and be aware of how much estate taxes may be taken out. Donating part of your estate to a qualifying nonprofit or charitable organization can help to lower your estate's value, and therefore lowering the amount of estate taxes that may be owed. A common way you can do that now is by opening and contributing to a donor advised fund. The money in the account can be used towards charitable donations. There may be some exemptions as to how much you can contribute to this type of account, and other taxes you may be on the hook for such as capital gains tax. Consult with an accounting or tax professional to help you. A 529 account is a type of investment account where you name a beneficiary and funds can go towards their qualifying educational expenses. Money held in this account is generally not considered part of your estate, as long as it's held there for at least five years. Giving some of your money now to your children or heirs could lower your estate's value, and therefore lower the amount of estate taxes that may be owed. If you go this route, plan out how much you want to give now and how it can affect what you'll need to live on now and during your retirement years. You'll also want to understand how much you can gift before the amount is considered taxable. In 2025, the gift tax exclusion is $19,000, or $38,000 for married couples. More From GOBankingRates Warren Buffett: 10 Things Poor People Waste Money On This article originally appeared on 6 Ways To Keep Your Estate Taxes Low
Yahoo
13 hours ago
- Business
- Yahoo
Social security funds are running out, new data shows
Social security funds are running out, new data shows originally appeared on TheStreet. The Old-Age and Survivors Insurance and Disability Insurance trust funds are projected to deplete their assets by 2033, as stated in the Social Security Board of Trustees' annual 2025 report. At that time, only about 77% of scheduled benefits will be payable. The projected depletion year for the combined Social Security trust funds is 2034, at which time only 81% of the benefits will be payable. Similarly, the Hospital Insurance fund of the Medicare program is projected to be depleted as soon as 2033. This emerging retirement insecurity is prompting many younger Americans, particularly Millennials and Gen Z, to explore alternatives beyond conventional savings, as per reports dated April 2025. The survey also found that 20% of respondents from Gen Z and Generation Alpha would accept their pension in whole or in part in cryptocurrency, with 78% of respondents trusting alternative retirement savings options more. Furthermore, 60% of Gen Z and millennials plan to increase their crypto holdings, and two-thirds aim to expand their investments; over half of them already allocate retirement assets to cryptocurrencies. With 62% of respondents intending to engage in Fidelity's crypto-oriented IRA, the future holds a closer integration of cryptocurrency in retirement strategies. With 21% of Americans already dedicating more savings to crypto than to conventional stocks, almost half of Americans allocate a sizable amount—10% to 20%—of their retirement money to cryptocurrencies. However, enthusiasm for cryptocurrency hasn't been matched by mainstream financial professionals and regulators, including the U.S. Department of Labor, which has warned against using cryptocurrency for retirement accounts, citing concerns about volatility, fraud, and valuation issues, according to Investopedia. Retirement advisor Ric Edelman recently advised holding crypto of about 10% to 40% as a small part of a retirement portfolio. Social security funds are running out, new data shows first appeared on TheStreet on Jun 18, 2025 This story was originally reported by TheStreet on Jun 18, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Business
- Yahoo
Fidelity Fund Bets on Midcaps Saying Worst of Tariffs Is Over
(Bloomberg) -- Financial markets have seen the worst of Donald Trump's tariff threats, helping make midcap stocks an attractive buy as the outlook improves, according to a Fidelity International money manager. Security Concerns Hit Some of the World's 'Most Livable Cities' JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports How E-Scooters Conquered (Most of) Europe Japan, Germany and China midcaps account for about 11% of Fidelity's growth and income fund — making them some of the strategy's highest conviction trades, said George Efstathopoulos. In contrast, there was 'very limited exposure' to such stocks about 18 months ago. 'The worst of the shock is behind us with Liberation Day,' said Efstathopoulos, referring to the April 2 US tariff announcement that triggered a global equity rout. 'The numbers that were recorded on that day were the worst it can get.' Fidelity is maintaining its conviction even as investors gear up for the end of the 90-day tariff truce on July 8, when reciprocal levies will take effect if nations fail to reach a trade deal with the US. Tensions in the Middle East may also pose a major test for stock markets, with Trump to decide within two weeks whether to strike Iran as the conflict with Israel escalates. For now, many of Efstathopoulos' bets have paid off, and he's convinced they remain a buy. The MSCI Japan Mid Cap Index has gained more than 4% since April 2, while Germany's DAX Mid-Cap gauge has risen almost 6%. A similar index of Chinese stocks advanced about 0.5% during that period. The money manager has had some exposure to Chinese and Japanese stocks since the second half of last year, while it scooped up German midcaps in March shortly after the government announced a historic spending package. 'In a world of trade disruption, disruption of globalization, I think it makes sense to focus on more domestic revenue generation,' said Efstathopoulos, who oversees about $3 billion from Singapore. German equities should advance because they're poised to benefit from a landmark shift toward more fiscal spending and concentrated exposure to domestic demand, he said. Meanwhile, Japan is undergoing a once-in-a-generation shift with 'good inflation' rippling across the economy, and mid-sized companies are likely to benefit most from rising domestic consumption, said Efstathopoulos. Fidelity likes Chinese firms due to prospects of further fiscal stimulus and limited risk of losses, thanks in part to factors like state-backed investors swooping into markets to prop up stock prices. Efstathopoulos helps oversee Fidelity's global multi-asset growth and income fund that's returned a cumulative 11% over the past five years to May, according to a company factsheet. RBI's Liquidity Boost to Propel Indian Small Caps: Taking Stock Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
