Stock Movers: VSCO, Broadcom, Citi
On this episode of Stock Movers: - Victoria's Secret (VSCO) shares moving this morning with the company set for a new date for their 1st quarter earnings release - next week June 11th. They had a big data breach in May. The information exposed in the incident included names, dates of birth, Social Security numbers, driver's license numbers, state ID numbers, passport numbers, financial account information, digital signatures, medical information, health insurance information, biometric information, and mother's maiden names. - Broadcom (AVGO) shares are higher, making it the 7th-most valuable company in the S&P 500 with a market value of $1.23 trillion, and its Thursday earnings report is expected to sustain the momentum. Investors are expecting strong earnings growth, with a focus on the revenue forecast and whether Broadcom has added new big cloud-computing customers, and an impressive showing could lead to another leg higher in the stock price. - Citi (C) is moving after cutting its technology employee workforce in China by about 3,500 as part of its global simplification efforts. Citigroup's wholly-owned local banking subsidiary Citibank (China) Co. will be unaffected, and the bank continues to invest in the unit to support corporate and institutional clients in the country.
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40 minutes ago
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My mother and grandmother have no savings, and I'm bitter that I'll need to support them as they age
I'm 36, and I constantly worry about making enough money to support my small family of three, my mother, and her mother. Nearly three years ago, we made a big decision to help my mother with her expenses by allowing her to move in at 55 years old. My mom had some significant debts to pay down — partly because being single and underpaid in this economy is expensive, but also because my mother has historically been bad at managing her personal finances. Well, the apple didn't fall far from the tree. My grandmother (my mom's mom) is still working at 76 because she has to. The threat of losing her Social Security keeps me up at night. If I have to start paying for either of their bills, I don't know what I will do. It frustrates me that I have to prioritize working extra hard and finding work that pays not just well but exceptionally well to mitigate their personal financial situations. I feel obligated to help my mother and grandmother My role has quickly changed from what should be a normal parent-child relationship to a financial advisor. I frequently coach my mother into asking for more money at her job or finding a new one that pays more. I also remind her to cut back on expenses and create savings goals. At this point, I'm doing it for my own self-preservation because if she doesn't, I'll be the one to foot the bill. And I hate it. What's even more frustrating is that I'm not even on speaking terms with my grandmother. Our estranged relationship has had its ups and downs. She texts a handful of times a year, but we haven't seen each other in person in nearly two years. I could use all of this as reasoning for why I shouldn't be the one to support her, but I know it'll still fall on me. Even if our relationship isn't great, I know I'm incapable of letting her struggle. I know I'll step in. But that doesn't make me feel proud that I'm capable of doing that; it makes me feel bitter that I was put in the position in the first place. I want to break the cycle While I'm highly annoyed by their financial situation, I'm equally (if not more) annoyed by the system that allowed them to fail. My grandmother was a young, unwed mother with no higher education. My mother, also a young, single mother, didn't get her degree until after I had mine. Education aside, their biggest hardship was and is their lack of financial education. I hate to admit that I'd most likely be in their same situation if I weren't married to someone who taught me basic financial literacy. I don't want praise for stepping up. I want a world where women like my mom and grandmother didn't have to rely on their daughters to survive. I'm doing everything I can to break that cycle, but some days I wonder if I'm just patching holes in a sinking ship — and hoping my daughter never ends up with the same bucket in her hands.
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Is opting to draw down my 401(k) first to boost my Social Security checks a shrewd move or boneheaded choice?
On paper, drawing down your 401(k) to delay Social Security benefits seems like a clever maneuver. After all, the monthly benefit check grows larger every year that you manage to delay retirement. However, there's more to consider than just the size of the monthly payout. Here's why you, and perhaps your financial advisor, should take a closer look at all the other variables that can impact your retirement income. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) A simple calculation would have you believe that it's best to delay collecting Social Security as long as possible. 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In other words, you would boost your nest egg by roughly 30% in just under two years, outperforming the Social Security boost, which is capped. Even if the stock market returns are significantly lower — say 5% compounded annually — your nest egg would be 30% larger within five and a half years. Besides, if stocks are in a deep bear market when you turn 62, it might not be the best time to sell your assets at distressed valuations. Drawing down your 401(k) for monthly income might also be easier if you have a sizable nest egg to rely on. However, if your assets are limited, drawing down on it for several years could leave you feeling squeezed before you ultimately decide to take benefits. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Other factors to consider are your health and longevity. 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Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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an hour ago
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5 Social Security Changes Experts Predict Could Come in the Next Decade
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