Latest news with #FidelityInvestments
Yahoo
3 days ago
- Business
- Yahoo
Here's the Minimum Net Worth Considered To Be Middle Class in Your 70s
Wondering if your nest egg stacks up with the average retiree? As we age, the idea of 'middle class' starts to look a little different — especially in our 70s, when income often shifts from paychecks to pensions, savings and Social Security. According to retirement-plan provider Fidelity Investments, people should have the equivalent of 10 times their income put aside by age 67 to have a comfortable retirement. Trending Now: Explore More: 'When you're in your 70s, being 'middle class' isn't just about how much income you bring in each month — it's about whether your total financial picture allows you to live comfortably without worrying about running out of money,' Kevin Marshall, certified public accountant (CPA), tax and personal finance expert, and senior contributor at Amortization Calculator. If you're curious where you stand, here's a look at the minimum net worth typically considered 'middle class' for folks in their 70s. According to Kevin Huffman, owner of Kriminil Trading, the amount of money you'll need to sustain a middle-class lifestyle in your 70s in 2025 will vary significantly based on where you live, what your health costs look like and what kind of lifestyle you want to enjoy. But as a rough guideline, he said we're looking at something from $500,000 to $1.5 million for most retirees. Find Out: Huffman noted that while someone in a mid-cost city such as Denver may need about $750,000 to cover just the basics: Healthcare premiums ($7,000 per year), groceries, utilities, and occasional trips. Those in high-cost areas, such as San Francisco, could end up needing $1.2 million or more, with inflated living expenses. 'The typical 70-year-old couple needs, at a minimum, $55,000 to $65,000 per year post-retirement, not including long-term care,' Huffman added. According to Huffman, those in their 70s with $300,000 in savings following a mortgage payoff and who have Social Security/pension income of $40,000 per year can frequently manage to eke out a middle-class lifestyle without much suffering. The trick, he explained, is to maintain enough liquid financial assets, in the low seven figures, while also ensuring you have a guaranteed income stream enough to outpace inflation. Sound planning like downsizing or annuitizing part of your savings could stretch your net worth even further. More From GOBankingRates 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on Here's the Minimum Net Worth Considered To Be Middle Class in Your 70s 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
Globe and Mail
4 days ago
- Business
- Globe and Mail
Fidelity Investments Canada ULC announces final valuation of Fidelity Emerging Markets Fund
TORONTO , May 29, 2025 /CNW/ - Fidelity Investments Canada ULC ("Fidelity") today announced the final valuation of Fidelity Emerging Markets Fund - ETF Series (Ticker: FCEM) that was terminated as of market close on May 27, 2025 . As part of the limited closure (also known as a 'soft cap') of Fidelity Emerging Markets Fund and Fidelity Emerging Markets Class, Fidelity made the decision to terminate Fidelity Emerging Markets Fund - ETF Series and voluntarily delisted the ETF Series from the Toronto Stock Exchange as of the market close on May 27, 2025 , with final payments to unitholders being made on May 29, 2025 . The final net asset value ("NAV") per unit of the ETF Series is as follows: The net assets of the terminated ETF Series will be distributed today pro rata among the remaining unitholders. No action is required by unitholders to receive the final payment. About Fidelity Investments Canada ULC At Fidelity Investments Canada, our mission is to build a better future for our clients. Our diversified business serves financial advisors, wealth management firms, employers, institutions and individuals. As the marketplace evolves, we are constantly innovating and offering our clients choice of investment and wealth management products, services and technological solutions all backed by the global strength and scale of Fidelity. With assets under management of $291 billion (as at May 15, 2025 ), Fidelity Investments Canada is privately held and committed to helping our diverse clients meet their goals over the long term. Fidelity funds are available through financial advisors and online trading platforms. Read a fund's prospectus and consult your financial advisor before investing. Exchange-traded funds are not guaranteed; their values change frequently and past performance may not be repeated. Commissions, management fees, brokerage fees and expenses may all be associated with investments in exchange-traded funds and investors may experience a gain or loss. Find us on social media @FidelityCanada
Business Insider
4 days ago
- Health
- Business Insider
I'm 78 and still working part-time. Here's how I've stayed involved with what I love, 16 years after retirement.
This as-told-to essay is based on a conversation with Donald Kimmel, 78, who retired from his role as a bone biologist 16 years ago but continues consulting and peer reviewing articles. Kimmel, who lives in The Villages, Florida, said he's stayed healthy and active and has enjoyed his retirement years, even though he doesn't often get to the beach. His words have been edited for length and clarity. Socially and career-wise, I have no major regrets. I had several related jobs which I loved, which were well-suited to my temperament, and were financially well-compensated. I graduated from college as a chemistry major in 1968. I went to dental school out of college, but after a couple of years, I realized it wasn't exactly for me. I found some brochures advertising NIH-sponsored dental student research programs. While at a program in Salt Lake City, doing research was such an eye-opener that I knew being a graduate student would be a better way to go than continuing the dental program. Are you an older American comfortable sharing your retirement outlook with a reporter? Please fill out this quick form. We are especially looking to hear from people 80 and older. I talked to the guy who ran the program, who made an agreement that he would admit me as a Ph.D. student if I finished dental school. That's where my career doing bone research came from. In the late 1970s and early 1980s, my positions were 100% research and writing grant applications. I made the switch to osteoporosis research before it was popular. I moved around quite a bit, including to a hospital in North Carolina studying kidney disease effects on bone. I had made a friend with an osteoporosis guy in Omaha, and he recruited me to be a researcher on his team. After 12 years there, the first osteoporosis drug was put on the market in 1995. The guy who led the charge invited me to come to Merck, and I got to use all the new chemicals that Merck was making to create a second-generation osteoporosis drug. It was like heaven. However, once he retired, the program disintegrated. I was in my late 50s, so I started calculating what my next move might be. Going to work the day after retiring Before I retired from Merck, I made a point of getting a handle on my yearly expenses, expecting post-retirement they would be relatively close to what they were while I was working. I had a 401(k) and a 403(b) from a past university, and I had some inheritance money from my mom after she passed away in 2004. I had started using Fidelity Investments back in 1981. I wish I had known about and been able to practice asset allocation much earlier in life. I wish I had known much earlier the data proving the predictability of annual returns versus risk from various asset allocation strategies over long timeframes. When we were 56, my wife and I took out long-term care insurance policies. We have maintained them, though the annual premium is about sevenfold more now than when we enrolled. In 2008, I was offered a buyout and got a year of extra pay, which got me almost to age 63. I figured I could retire and make it for decades from my pension and transitional income, and I knew I'd do freelance consulting. It looks like I took early retirement, but for four or five more years, I was flying around to conferences and doing consulting. The morning after I took my buyout, I got this call from an attorney at Eli Lilly who needed me to do expert testimony during a lawsuit about a drug. Running races, peer reviewing papers, and taking it easy My wife ran a home decorating and window coverings business. While on a trip to the US Virgin Islands, she told me she wanted to take the income from her business and buy a piece of property. We wanted a place to go when it was cold in the winter, though we weren't wild vacationers. It was a big step for us, but we bought a condo in St. Croix in the mid-2000s. My wife's business was doing well, so we got another one on the beach. When my work was winding down in 2011, we used Airbnb and Verbo to list them. Until 2017, we figured out how to make them work as vacation rental properties. We balanced that with getting some people who lived in the Virgin Islands to do the local management stuff. Hurricane Maria ripped the roof off the beachfront condo, which was never the same again, so we sold them. We moved to The Villages, Florida, in March of 2010. It was a place which my wife, who had patiently followed my US-wide odyssey doing research around the US, had always said she thought she would like. It has been our longest stop. We projected we would be more able to travel in the early years of retirement, and we did river and ocean cruises. We've gradually started to slow down and have been traveling less in the last five years. Before Covid and after two years of brisk walking, I started entering 5Ks. Thinking of all those my age who don't even enter gave me an even better feeling. I got all the way down to 42 minutes. I can still do a mile in 16 minutes. I still peer review papers on bone science for medical journals. I've been able to stay current on today's knowledge. I like to pass down ideas on career moves that students should make. I enjoy talking to young people who are at those crucial phases and are looking for ideas. It's a fulfilling part of retirement. We have monthly expenses of about $9,400. We have monthly pre-tax income from three sources: combined Social Security of $5400, an annuity of $300, and an investment mix that historically both returns an average of ~$5,800 over an extended time period and lets us sleep at night. My Fidelity account executive in The Villages took my accounts and ran an algorithm on them, then showed me a historical evaluation of what various mixes of allocations were going to return. I can sleep at night with what I have now, and I've done some opportunistic buying over the last three or four years. Being older is about gaining all the easy advantages one can, to get through and avoid preventable illness. Because of my background, I can read the medical literature. I do my best to learn about activities and habits to do and avoid, and how to best treat conditions that I personally have. With health, remember this old adage. Smart people learn from their own mistakes. Wise people learn from others' mistakes.
Yahoo
18-05-2025
- Business
- Yahoo
Corrections & Amplifications
CORRECTIONS The last name of Ford O'Neil, a Fidelity portfolio manager, was misspelled as O'Neill in a Page One article on Tuesday about U.S. stock markets. Qatar's population is about three million. A World News article on Friday about the U.
Yahoo
18-05-2025
- Business
- Yahoo
What is crypto staking?
(NewsNation) — The cryptocurrency industry has a language of its own. What is crypto staking? It's the process of locking digital tokens to a blockchain network to earn rewards, according to Britannica. A blockchain in cryptocurrency is a shared digital ledger that records all transactions that the public can see but can't alter. The rewards are usually a percentage of the number of tokens staked. For example, if the blockchain network offers a 5% reward for a period on the 100 tokens you have, you will earn five additional tokens as a reward. Can you buy crypto with a credit card? Crypto staking can be active or passive. Both involve locking your tokens to a network. Crypto staking is used to validate transactions on the blockchain in exchange for a reward, according to Fidelity Investments. 'Blockchain is the what and crypto staking is the how,' Fidelity said online. 'Crypto staking is crucial for the security and efficiency of some blockchains. It's how some cryptocurrencies, like Ethereum, validate transactions and circulate new coins into the market.' Another way to validate transactions is crypto mining. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
