401 k losing money

It's been a tough few weeks for Meta , the parent company of Facebook, Instagram, and WhatsApp. The company announced its first-ever drop in quarterly revenue on the same day the FTC announced it was suing to block the company's attempt to purchase Within, maker of the popular Supernatural VR app. Before that, CEO Mark Zuckerberg faced criticism for telling employees that some of them should probably quit. Then, the company announced that starting Monday, it is raising the price of the Quest 2 by $100. It's still the same VR headset, with the same hardware and software. If you bought one last week, it will function exactly the same as it does now that it costs more. Nothing else has changed. Well, to be fair, one other thing has changed. I don't think it's a coincidence that August is when Zuckerberg has said you will no longer have to log in with your Facebook account. That may not sound like a big deal, but it means Meta is losing out on all of the … [Read more...] about Mark Zuckerberg Just Raised Prices on the Quest 2. It’s How You Know the Metaverse Isn’t Coming Any Time Soon

Apple isn't exactly known for taking risks. Even when it launches something new, it's usually after a lot of careful consideration. It's almost never first to a new market, preferring instead to take its time watching everyone else try and figure it out . That's understandable--as the world's most valuable company , it has a lot to lose. Also, there's the fact that it owes its $2.5 trillion market cap to the fact everything it makes is built on the promise of being simple and secure. Apple, after all, is the it-just-works company . Of course, when it does get involved, it usually ends up on top . That's why it's so interesting to think about Apple and crypto. To most people, crypto is either a weird hobby that your computer-savvy friend is into but no one else understands, or it's a scam (or some degree of both). It has to do with mining or buying strangely named digital "coins," and hoping the value goes up enough that lots of other people buy them, making the … [Read more...] about Why the Future of Crypto Is Entirely Up to Apple

Masayoshi Son - A + A (Aug 5): Masayoshi Son is losing a growing number of top executives at SoftBank Group Corp, putting more responsibility on the founder’s shoulders just as the outlook for the Japanese conglomerate turns increasingly ominous. Two more managing partners at the company’s Vision Fund, Yanni Pipilis and Munish Varma, are leaving, Bloomberg News reported last week, bringing the number of top level departures from the world’s largest investment fund to at least 10 since March of 2020. Rajeev Misra, the long-time head of the Vision Fund, is giving up most of his titles and responsibilities as he starts his own investment fund. Chief Operating Officer Marcelo Claure left earlier this year, while Chief Strategy Officer Katsunori Sago, who had been on SoftBank’s board with Misra and Claure, resigned in 2021. That leaves Son increasingly on his own as he plots a new course for the company he founded four decades ago. The 64-year-old is shifting focus … [Read more...] about SoftBank talent drain worsens, adding pressure on Son to deliver

Share to Twitter Share to Linkedin Gallery: 2012 NHL Team Values 30 images View gallery On the ice, the National Hockey League has never been more competitive than over the course of its last collective bargaining agreement , which began with the 2005-06 season. A different team has won the Stanley Cup each season, ranging from big-market clubs like Los Angeles and Chicago to small ones such as Pittsburgh and Raleigh . A total of 12 different teams reached the finals during the seven-year CBA. So why have the owners thus far cancelled 422 regular season games of the 2012-13 season, as well as the All-Star Game, insisting on a new CBA that drastically reduces the amount of money that can be spent on player salaries (currently 57% of hockey-related revenue)? The reason is that on the financial scoreboard, the league's 30 teams have never been farther apart. Consider the two most recent team sales. In May, Tom … [Read more...] about NHL Team Values 2012: Toronto Maple Leafs Are First Hockey Team Worth $1 Billion

Share to Twitter Share to Linkedin NBA commissioner David Stern was vilified by fans and players for his role in the lockout that erased 20% of last season. But Stern works for the owners, and it appears the commish, who is retiring in 12 months after 30 years in charge, is going out on top. Stern is worth every penny of his salary, estimated to approach $20 million. The NBA locked out its players in the hopes of constraining their salaries, boosting profitability and raising franchise values. A year later, owners should be ecstatic with the results. Gallery: The Most Valuable NBA Teams 30 images View gallery The average NBA team is worth $509 million, a 30% increase over last year. The increase is due to higher revenue from television, new and renovated arenas, and the NBA’s new collective-bargaining agreement, which reduced player costs from 57% of revenues to roughly 50%. The labor deal also increased the amount of money … [Read more...] about Billion-Dollar Knicks and Lakers Top List Of NBA’s Most Valuable Teams

U.S. stocks continued to claw their way back last week, especially growth stocks . For the week, the Nasdaq posted a gain of 2.2% and the S&P 500 rose 0.4%. The Dow? Not so much, sliding just 0.1%. A blowout jobs report for July offered up another dose of good news for the economy and not-so-good news for the stock market, but equity investors hung in there. U.S. employers added 528,000 jobs to their payrolls last month , which was more than twice what was expected, and that added credence to the Federal Reserve 's stance that the U.S. economy is not in a recession given the continued strength of the labor market. So, the thinking goes, the Fed will continue to be aggressive in raising interest rates to cool down inflation, because it's not impacting companies' willingness to hire. That led to a steep selloff in U.S. Treasurys, with the yield on the 10-year Treasury note ending the week at 2.83%. Oil prices continue to tumble, hitting their lowest level since early … [Read more...] about Live from InvestFest with Downtown Josh Brown, BitBoy Crypto, and Lamar Wilson

Companies often offer various benefits like competitive retirement savings plans to attract and retain employees. They can provide company 401(k) matching contributions that stand out as above-average to draw more potential new hires or keep their employees. Employees who contribute up to their limit can essentially get more "free money" toward their retirement savings. Let's look at three examples of major companies that offer 401(k) employer matching contributions that are above average. Key Takeaways Employers use benefits like a 401(k) match to attract and retain employees. Companies are not required to offer a 401(k) match, but they often use this benefit to compete for workers. The average employer contribution match was 4.5% in 2020, and the median match was 4.0%, according to a Vanguard study. Major companies that provide some of the biggest matches include ConocoPhillips, Philip Morris International, and Amgen. Companies with Some of the Best … [Read more...] about Companies That Offer the Biggest Employer Match for a 401(k)

Without a doubt, 401(k) plans are attractive investment vehicles for retirement planning. In addition to the tax benefits, contributions are automatically deducted from participating employees’ paychecks—making it an easy (and painless) way to invest. What’s more, many companies match contributions up to a certain amount, which helps grow those nest eggs faster. As of September 30, 2020, 401(k) plans hold an estimated $6.5 trillion in assets, in about 600,000 plans, on behalf of about 60 million active participants and millions of former employees and retirees, according to Washington, D.C.-based Investment Company Institute, the trade association for regulated fund companies in the U.S. What does all that money mean for the typical 401(k) holder? As of the fourth quarter of 2020, the average 401(k) balance was $121,500, according to the most recent Fidelity Investments estimates. Something that can really affect these balances over time—and not always in a good way—is the … [Read more...] about How to Lower Your 401(k) Fees

If you need to access some of the money you’ve built up in your 401(k), you can use a short-term loan that you will pay back with money from your paychecks. Borrowing from your 401(k) can often be a better alternative to getting money than using higher-interest loans like title loans, payday loans, or even personal loans . If you're considering a 401(k) loan, you might be wondering how it will affect your other debts like your mortgage. The short answer is that it won’t. Whether you are in the process of qualifying for a mortgage, or are already paying one down, a 401(k) won’t affect other debts. In this article, we’ll explain how 401(k) loans work and detail pros and cons to consider. A 401(k) loan can provide a way to access your account funds for short-term liquidity. 401(k) loans also have no impact on your mortgage, whether it's your current mortgage or one you are applying for. You can use a 401(k) loan for a number of uses, such as for a down payment on a home. … [Read more...] about Will a Loan on My 401(k) Affect my Mortgage?

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