"Most importantly, the baby boom generation has started to retire with a record $76 trillion in net worth," he wrote for the Financial Times. "They are spending on restaurants, cruises, traveling, and healthcare. All these services industries have been expanding their payrolls, thus boosting real incomes, and

Meanwhile, People in their 30s might not be close to their retirement savings goals yet, but they still have plenty of time to catch up. On average, Americans believe they’ll need about $1.46 million to retire comfortably, according to Northwestern Mutual’s “2024 Planning and Progress” study. For

Kamala Harris has pledged to legalize marijuana at the federal level if she is elected president, as part of her campaign’s newly announced “Opportunity Agenda” aimed at Black male voters. On Monday, the Harris campaign stated that, if she wins in November, she will work to "eliminate unjust

Vice President Kamala Harris unveiled a plan on Monday aimed at expanding economic opportunities for Black men, as she seeks to energize a key voting demographic that has raised concerns within the Democratic Party due to a perceived lack of enthusiasm. The plan includes providing forgivable business loans to Black

OPEC on Monday reduced its forecast for global oil demand growth in 2024, marking the group's third consecutive downward revision. This adjustment reflects weaker data received throughout the year and highlights the challenges faced by OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies like

In November, Illinois voters will decide whether to implement a special tax on individuals earning $1 million or more, a measure that state leaders claim could help ease the high property tax burden on the average resident. The proposed tax would create an additional 3% tax on income over $1

Google is actively seeking energy sources that not only meet its substantial energy demands but also align with its goal of achieving net-zero emissions, CEO Sundar Pichai said. The company has set a target to reach net-zero emissions across all operations by 2030. “It was a very ambitious target, and

Larry Fink believes Bitcoin is poised to soar regardless of who occupies the Oval Office. While many analysts attribute the $1.2 trillion asset's growth to regulatory factors, the BlackRock CEO sees its rise driven by improved analytics and greater acceptance among investors. "I don't

SpaceX’s proposal to expand rocket launches from the California coast was rejected by a state commission this week, with some officials expressing concerns over Elon Musk’s political activities and the labor practices at his companies. The California Coastal Commission voted Thursday against the plan, which would have allowed

China announced on Saturday that it plans to "significantly increase" government debt issuance to provide subsidies for low-income households, support the property market, and bolster state banks' capital, all in an effort to revive sluggish economic growth. While Finance Minister Lan Foan did not provide specifics on

"Iran, North Korea, and Russia I think you can legitimately call an evil axis. They're working every day on how to make it worse for the Western world and for America," Jamie Dimon of JPMorgan. JPMorgan CEO Jamie Dimon is known for focusing on long-term, global

The Central Intelligence Agency (CIA) is intensifying efforts to recruit Chinese nationals, aiming to leverage what U.S. officials describe as growing dissatisfaction with President Xi Jinping's leadership. On Wednesday, the CIA released Chinese-language guidelines across social media platforms like Instagram, Facebook, LinkedIn, YouTube, Telegram, and X, explaining

73% of Amazon, $AMZN, employees are considering quitting in response to Amazon saying that they will have to start working from the office 5 days a week. Amazon CEO Andy Jassy has consistently warned remote workers that if they don’t comply with return-to-office (RTO) mandates, “it’s not going

One in five American adults who have encountered online scams have fallen victim and lost money, according to a new report by Consumer Reports. Why it matters: Scams are now a common part of nearly everyone's online experience, and new AI tools are making them more convincing and

JPMorgan Chase, $JPM, has said the US Economy has likely made a soft landing. “These results align with a soft landing,” said Chief Financial Officer Jeremy Barnum during a conference call. “It fits with what we might call a Goldilocks economic situation.” While the Fed's recent interest rate

Fidelity Investments, one of the world’s largest asset management firms, has confirmed that the personal information of more than 77,000 customers, including Social Security numbers and driver’s licenses, was compromised in a data breach in August. The Boston-based company disclosed in a filing with Maine’s attorney

Donald Trump is proposing a significant tax break for U.S. citizens living abroad, positioning the plan as a way to attract votes from the millions of Americans who could benefit. The former president and current Republican candidate made this commitment in a video shared by Solomon Yue, CEO of

The U.S. economy is performing so well that UBS has hinted at the possibility of a return to the prosperous days of the "Roaring ’20s." The European financial powerhouse believes the nation is edging toward a booming economic period, giving it a 50% chance of unfolding. The

Price increases in September outpaced expectations, while jobless claims rose unexpectedly, largely due to Hurricane Helene and the Boeing strike, the Labor Department reported Thursday. The consumer price index (CPI), which tracks the cost of goods and services across the U.S. economy, climbed 0.2% for the month on

Nearly a quarter of millennials and Gen Z adults without children say they intend to remain child-free, and the main reason is financial. About 23% of these adults, aged 18 to 43, cited two financial motivations for not having kids: valuing the financial freedom that comes with being childless, and

Amazon CEO Andy Jassy has consistently warned remote workers that if they don’t comply with return-to-office (RTO) mandates, “it’s not going to work out” for them at the company. However, many Amazon employees, including some managers, have seemingly ignored these guidelines so far. Experts previously told Fortune that

Living the American Dream is possible, but it comes with a hefty price tag. According to a report by financial media site Investopedia, the cost of achieving the quintessential American aspirations—owning a home, driving new cars, raising children, and enjoying annual vacations—adds up to an estimated $4.4

It's a great time to have a job — wages are rising, and most employers aren't laying people off. But it's a tough time to find a new one, with hiring at its lowest rate in over a decade. Why it matters: The job market

Living the American Dream is possible, but it comes with a hefty price tag. According to a report by financial media site Investopedia, the cost of achieving the quintessential American aspirations—owning a home, driving new cars, raising children, and enjoying annual vacations—adds up to an estimated $4.4

The stock market took a nosedive last month over recession fears but has since surged to new record highs as the Federal Reserve cut interest rates and China introduced stimulus measures. Mark Spitznagel, cofounder and chief investment officer of hedge fund Universa Investments, anticipated these developments. He had predicted that