By Tabita Diela JAKARTA (Reuters) – Indonesia’s push to cut its reliance on foreign funds to fill the yawning current account gap has prompted it to chase a new and growing source of funding — digitally savvy millennials. At a recent marketing event in Jakarta’s hip Kebayoran Baru district, Indonesia’s finance ministry used celebrities, dance music and social media influencers to pump up interest in national savings bonds. The latest two-year bond, dubbed by media “James bonds” due to the 007 series number, was one of the 10 Indonesia plans to launch this year as authorities look to tap young Indonesians’ growing appetite for fixed income. Last year, authorities only sold five, but the ministry said more than half the buyers of the latest offering were millennials. Indonesian authorities have for years sought to mobilise domestic savings to reduce the reliance on volatile foreign investment to fund the deficit. Nearly 40% of government … [Read more...] about Indonesia woos Instagram generation for hip new bond raisings
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Eric Rosenberg, provided by Published 7:45 am CDT, Wednesday, April 17, 2019 Samantha Lee/Business Insider Oli Scarff/Getty Images A 401(k) rollover might sound complicated, but it just means moving retirement savings from one tax-advantaged retirement account to another. People often do this after leaving a job, to consolidate their retirement savings for easier record-keeping and sometimes, for more advantageous investments. Many 401(k) plans are notorious for high fees and limited investment choices, and rollover options typically include a 401(k) with a new employer or a Rollover IRA of your choice. Visit BusinessInsider.com for more stories. A 401(k) is a tax-advantaged, employer-sponsored retirement account that has special rules. Unlike a regular checking or savings account, where you can add and withdraw funds at any time with few limits and no major tax implications, you can't just withdraw from a 401(k) at any time. Withdrawals from a retirement account … [Read more...] about A simple strategy can make retirement savings less complicated, no matter how many jobs you’ve held and accounts you’ve opened
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE March 21, 2019, 3:34 PM GMT / Source: CNBC.com By Bob Pisani, CNBC After months of waiting, the 2019 IPO pipeline opened on Thursday with Levi Strauss. The blue jeans giant began trading on the New York Stock Exchange under the ticker symbol LEVI at $22.22 a share, after having priced its initial public offering at $17 a share the night prior. Investors are salivating over the well-known names seeking to go public, from Uber to Pinterest to Airbnb. The IPO market has continued to rebound since February, with one IPO-dominant fund bringing returns of a whopping 32 percent this year, more than double those of the S&P 500. However, there are a few warning signs ahead: 1. The pipeline is getting ever larger Renaissance Capital, which tracks the IPO market, counts 37 companies in registration targeting $10 billion of proceeds. But … [Read more...] about Levi’s just went public, kicking off a new wave of red-hot IPOs
By Lisa Beilfuss WSJ Fri., March 1, 2019 Automated financial advisers are expanding into the cash-management market with high rates, the latest move by these so-called robo advisers to capture clients from traditional banks and brokerages. Wealthfront’s new cash-management account, essentially a brokerage account meant for cash, is offering a 2.24% annual interest rate, and Betterment LLC’s account, launched in August, offers 2.23% after fees. That compares with a national average of 0.10% U.S. banks are paying savers, according to Bankrate.com. For a saver with a $25,000 account, the difference is roughly $500 over the course of a year. These better deals for savers could hit higher-cost banks and brokerages: Cash deposits have long generated a significant chunk of revenue, and they became even more lucrative after the Federal Reserve raised rates last year. Robo advisers have already been gaining ground as investors look for lower-cost and digital … [Read more...] about Banks Are Paying Peanuts on Deposits. Robo Advisers Are Offering Higher Rates.
Micro-investing app Stash is unveiling a number of new features as it tries to scale up its customer base. The announcement comes just days after millennial-oriented investing app Acorns announced a new funding round round that values the company at $US860 million. Stash has amassed 3 million open brokerage accounts and around $US530 million in assets under management. Stash, an personal finance app which makes it easier for millennials to save and invest small amounts of money, is taking a page out of rival Acorns’ book as it tries to add more customers. The company announced Thursday that it has unveiled a number of new features for its users, including round-ups – which lets customers invest spare change- and cash back for purchases made at certain retailers. “Round-ups,” lets Stash users round up daily purchases to the nearest dollar and automatically add the difference to their personal investment accounts. For instance, if you made a purchase of … [Read more...] about Millennial investing app Stash just rolled out a new feature that’s strikingly similar to its $860 million rival Acorns