Latest news with #financial
Globe and Mail
2 days ago
- General
- Globe and Mail
Your lookahead horoscope: June 9, 2025
Sometimes in life you have to give up something valuable in order to gain something even more precious. Keep that thought in mind over the coming year as you are challenged to give up on things you no longer need. Be brave and let them go. You may have neglected the needs of partners and loved ones in recent weeks but Jupiter's move into the domestic area of your chart today will help you make amends. Don't just say 'I love you' – do something dramatic that proves you mean it. If you make an effort to get out and about as the new week begins you will make friends with some seriously interesting people. As they also share your overall outlook on life you can make a real difference in the world by working together. Jupiter leaves your birth sign today but that is not a cause for dismay. On the contrary, as the planet of good fortune is now moving into the financial area of your chart you can start turning one of your genius ideas into a very big payday. Luck planet Jupiter moves into your sign today, where it will stay for the rest of the year and beyond. You need to remember though that while the universe will do its utmost to help you succeed the effort and the enthusiasm must come from you. You seem to believe that you need to prove yourself so that your peers will respect you but in reality they respect you already, so all you have to do is carry on as before. Everyone knows what you are capable of, so go for it! Don't worry if you come in for criticism from someone in a position of authority today because they are not being hostile towards you in any way. On the contrary, they are desperate to see you succeed, which is why they are pushing you so hard. Cosmic activity in and around the career area of your chart means you will soon get the chance to boost your social and professional standing. You have always been a top ten player but by the end of this week you will be number one. Jupiter's move into the most adventurous area of your chart marks the start of a lengthy phase in which the positive side of your nature will be encouraged to come to the fore. Forget about recent minor failures and work towards some major success. It's not like you to have doubts but you do seem to be a bit less assured about what you are doing than you usually are. Whatever the reason for that might be you can get past it by seeking out challenges rather than trying to avoid them. With both Mercury and Jupiter moving through the partnership area of your chart there is no reason at all why you should fall out with anyone. If you show an attitude of compromise to other people they will do their utmost to meet you halfway. Changes on the work front may be alarming but they will undoubtedly work in your favor, so don't assume the worst and try to turn back the clock. The world is changing fast and there is no reason why you should not profit from that. Anyone who thinks you are too laidback to get ahead of your more pushy rivals will soon realize how wrong that is. With hardly any effort at all you will find yourself at the front of the pack today and heading for the finishing line. Discover more about yourself at
News.com.au
4 days ago
- Business
- News.com.au
WSJ Finance Editor Explains the Musk-Trump Financial Fallout
Elon Musk suffered one of his worst financial days after the public fallout with President Trump. WSJ's Quentin Webb explains what's at stake for the Tesla CEO and investors after the breakup.
CBS News
5 days ago
- Business
- CBS News
What happens to an annuity when a person dies?
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. An annuity can provide reliable retirement income, but it's important to know whether it will continue to pay your loved ones after you die. Getty Images In today's uncertain financial climate, many Americans are turning to annuities as a way to guarantee income during retirement. With inflation cooling but still problematic, market volatility causing jitters and traditional pensions nearly extinct, annuities offer something rare: predictable, steady payouts for life. But while retirees often understand the basics of how annuities work during their lifetime, there's one question that doesn't always get asked soon enough: What happens to that annuity when the person who owns it dies? It's an important question, especially if you're counting on that annuity to support a surviving spouse or want to leave something behind for your children. And, the answer depends on several factors, including the type of annuity purchased and the options selected at the time of signing the contract. That's why understanding the potential outcomes ahead of time is key. If you don't plan ahead, that stream of income could dry up, and in some cases, the insurer might keep the remainder of the money. So, whether you're shopping for an annuity, currently receiving payouts or managing a loved one's estate, it's critical to know what happens to an annuity after the annuitant dies. Find out how to add an annuity to your retirement portfolio today. What happens to an annuity when a person dies? What happens to an annuity after death depends largely on the type of annuity and the contract terms set in place. Here's what happens with the common types of annuities after the person who owns it dies: Single life annuity : If the annuity is a single life annuity, meaning that it's set to pay income only for the life of the annuitant, the payments usually stop once the person dies. That means even if the annuitant dies early into the payout period, the insurance company keeps the remaining balance. This might sound harsh, but it's part of the tradeoff for getting higher monthly payments while the person is alive. : If the annuity is a single life annuity, meaning that it's set to pay income only for the life of the annuitant, the payments usually stop once the person dies. That means even if the annuitant dies early into the payout period, the insurance company keeps the remaining balance. This might sound harsh, but it's part of the tradeoff for getting higher monthly payments while the person is alive. Joint and survivor annuity : Joint and survivor annuities are a common option for married couples who want to make sure both spouses are covered. If the annuity was structured as a joint and survivor annuity, payments continue to the surviving spouse or named joint annuitant after the original annuitant passes away. That said, the amount may be the same or reduced, depending on the contract. : Joint and survivor annuities are a common option for married couples who want to make sure both spouses are covered. If the annuity was structured as a joint and survivor annuity, payments continue to the surviving spouse or named joint annuitant after the original annuitant passes away. That said, the amount may be the same or reduced, depending on the contract. Fixed period or period certain annuity : Some annuities include a "period certain" feature, which guarantees payments for a set number of years — like 10 or 20 — regardless of whether the annuitant is alive. If the annuitant dies before that period ends, the remaining payments are made to a designated beneficiary. : Some annuities include a "period certain" feature, which guarantees payments for a set number of years — like 10 or 20 — regardless of whether the annuitant is alive. If the annuitant dies before that period ends, the remaining payments are made to a designated beneficiary. Refund options: Other annuities include refund provisions. For example, a cash refund annuity ensures that if the total amount paid out doesn't equal the original investment, the remaining amount is refunded to a beneficiary. This helps ensure that some of the money goes to heirs, even if the annuitant dies early. It's worth noting that in most cases, any payments made to a beneficiary after the annuitant dies are considered taxable income. However, the taxation details depend on whether the annuity was qualified (funded with pre-tax dollars) or non-qualified. Compare your annuity options and secure a reliable retirement income stream now. How to make sure your annuity benefits your loved ones If you're worried about your loved ones' ongoing financial needs, there are steps you can take to make sure your annuity continues to support your family after you die. That said, it takes a bit of upfront planning and a clear understanding of the contract terms to get it right. Start by carefully reviewing the death benefit provisions in your annuity. If you're still in the accumulation phase (i.e., you haven't started receiving payments yet), check whether your contract includes a death benefit rider. This rider can guarantee that your beneficiaries receive the greater of your account value or the total premiums paid, even if your investments have declined. If you've already annuitized (meaning you've started receiving regular income), it's important to confirm whether your contract includes features like a joint payout option or period certain. These choices can't be added after the fact, so what you selected at the start is what determines how much, if anything, your beneficiaries receive. You should also take the time to review and update your beneficiary designations. Life changes, like divorce, remarriage or the death of a previously named beneficiary, can create complications if you haven't kept your documents current. And make sure you name contingent beneficiaries too, in case your primary beneficiary isn't able to inherit. Ultimately, an annuity doesn't have to be a "use it or lose it" investment. With the right setup, it can offer long-term peace of mind for both you and the people you care about. The bottom line Annuities can offer powerful income protection during retirement, but without the right planning, they might not offer the same protection for your loved ones after you're gone. But what happens to your annuity when you die depends largely on the structure of the contract, whether you've chosen survivorship options and who you name as your beneficiaries. To avoid unwanted surprises, take the time to understand your annuity's terms and make sure your designations reflect your wishes. With a few thoughtful decisions, your annuity can serve as more than just a retirement paycheck. It can also be a meaningful part of your legacy.
The Independent
6 days ago
- Business
- The Independent
Dr Martens sees profits slide but on track for return to growth
Dr Martens has revealed annual profits slumped as sales came under pressure and it cautioned over ongoing falling revenues in the UK. The footwear group reported pre-tax profits of £8.8 million for the year to March 30, down from £93 million the previous year, after seeing sales fall 10%. On an underlying basis, pre-tax profits slumped to £34.1 million from £97.2 million. The group said sales to consumers in the US returned to growth in the second half of the year and have continued to increase, but revealed UK revenues have remained lower since the year-end 'due to a challenging market'. It added that unfavourable foreign exchange rates would see it take a hit to group sales and profits of around £18 million and £3 million respectively in 2025-26. Despite this, Dr Martens said it expects underlying profits to rise 'significantly' over the financial year ahead, with analysts expecting a jump to between £54 million and £74 million. It flagged uncertainty over the impact of higher tariffs, but said it was holding off from price hikes for the the remainder of 2025. Its stock is already in the US market for the spring/summer season and either there or on its way for the autumn/winter. 'We do however recognise that there is continued macroeconomic uncertainty and the full outcome of tariffs is still unknown, and we will monitor this closely through the year and take action as appropriate,' the group said. The Northamptonshire-based company outlined new plans for growth alongside its results, with aims to attract new shoppers and hold off from discounts in EMEA and the Americas. Annual figures showed sales sales dropped 11.4% over the year, although retail lifted 1% in the final six months. In the Europe, Middle East and Africa (EMEA) region, sales fell 11%, with direct-to-consumer difficulty amid a highly promotional market – particularly in the UK. The company, whose yellow-stitched boots have been a retro mainstay for decades, has been in the doldrums in recent years, with declining revenues exacerbated by the cost-of-living crisis. It listed on the London Stock Exchange in 2021, and has since issued a slew of profit warnings and replaced its chief executive. Many of Dr Martens' recent problems have come from steep declines in sales in the US, but new chief executive Ije Nwokorie said the group had stabilised in the past year. He said: 'Our single focus in 2024-25 was to bring stability back to Dr Martens. 'We have achieved this by returning our direct-to-consumer channel in the Americas back to growth, resetting our marketing approach to focus relentlessly on our products, delivering cost savings and significantly strengthening our balance sheet.' Mr Nwokorie, previously the firm's head of marketing before taking on the top job from Kenny Wilson on January 6, said: 'I am laser-focused on day-to-day execution, managing costs and maintaining our operational discipline while we navigate the current macroeconomic uncertainties.'
Forbes
02-06-2025
- Business
- Forbes
CD Rates Today: June 2, 2025 - Take Home Up To 5.02%
The best interest rates on CDs—certificates of deposit—pay up to 5.02% today, based on certificate term lengths. Here's an overview of how CD rates are changing, followed by a guide to the current top CD rates across different terms. A CD is a particular type of savings account that pays a fixed interest rate for a set period of time. The benefit is that you'll typically receive a better yield than what you could find from a high-yield savings account. The drawback is that you can't touch the money before the CD matures without paying a withdrawal penalty. For instance, you could lose an entire year's worth of interest if you withdraw funds from a five-year CD before it reaches maturity. Three-month CDs are a good option for short-term savings goals. The current average rate on a three-month CD sits at 1.3%, but the highest rate is 4.67%. The average rate is unchanged from a week ago. A six-month CD offers a nice blend of high yields and short-term time commitment, and the highest yield you can find is 4.94%, about the same as last week. The current average APR for a six-month CD is 1.77%. The highest interest rate currently available on a one-year CD—one of the most popular CD terms—is 5.02%. If you discover a rate in that neighborhood, you're getting a good deal. That rate hasn't changed much since last week. The average APY, or annual percentage yield, on a one-year CD is now 1.83%, unchanged from a week ago. If you can hold out for two years, 24-month CDs today are being offered at interest rates as high as 4.52%. That's the same as this time last week. The average APY for the CD is 1.65%, flat to last week's average. Today, the highest rate on a three-year CD stands at 4.27%, so you'll want to shop around for that rate or something near it. The average rate APY is 1.58%. On a five-year CD, the highest rate today is 4.26%. APYs are averaging 1.59%, similar to last week. If you opt for a five-year CD, make sure you're aware of the early withdrawal penalty. It's not unusual to lose one full year's worth of interest or more if you break open a five-year CD before it matures. The best rate today on jumbo CDs is 4.94% for a 6-month term. As with non-jumbo, various term lengths are available. The average APY for the 6-month CD is currently 1.82%. Most jumbo CDs require a minimum deposit of $100,000—and some even require $250,000. However, there's no universally agreed-upon definition regarding what qualifies as a "jumbo" CD. Some banks and credit unions slap the label "jumbo" on CDs you can open with $50,000, $25,000 or even less. Related: CD Interest Rates Forecast: How Good Will They Get? Digital banks tend to have an edge over traditional outfits thanks to lower overhead costs and the need to offer top-of-market yields to attract new customers. Take Chase Bank (traditional), Capital One (hybrid) and Synchrony Bank (online). Be sure to compare a few options with the types of banks you're most comfortable with. Other top CD rates by banks include: CDs are a relatively simple savings tool: You open an account with a deposit (your principal), let your money sit for a predetermined period of months or years while you enjoy the magic of compounding interest. Many CDs (as well as share certificates offered by credit unions) require a minimum deposit (typically less than $10,000 unless it's a jumbo CD) to open your account. Some financial institutions allow you to fund an account with as little as a penny. But banks and credit unions typically won't allow you to add to your deposit once the term begins and the clock starts ticking. And they're serious about not letting you crack open your CD or share certificate too soon. Early withdrawal penalties can be so tough that they'll eat into your principal, not just take back some of your interest. CDs typically pay higher interest than other savings vehicles, even the best high-yield savings accounts and money market accounts. And while they may not offer the kind of enviable returns that are possible with stocks, CDs beat the more attention-getting investments in one regard: They're one of the safest places to put your money. Investors lost millions in the 2022 crypto crash, and putting your money into the stock market, real estate or gold and other commodities can be risky, too. But when you buy a certificate of deposit or credit union share certificate from a federally insured financial institution, you can sleep easily with the knowledge that your investment is protected. The Federal Deposit Insurance Corp. provides you with up to $250,000 in coverage in the event the bank issuing your CD ever fails. For share certificates purchased from federal credit unions and most state-chartered credit unions, the National Credit Union Administration insures your money up to the same limit. Traditional brick-and-mortar banks have far greater operating expenses than banks that only exist online. That's why online banks are usually able to offer more attractive APYs on CDs – they have lower overhead costs, so they can afford to pay higher interest rates to customers. Related: CD Interest Rates Forecast: How Good Will They Get? Curinos determines the average rates for certificates of deposit (CDs) by focusing on specific CDs and excluding others. Certain types, such as promotional offers, relationship-based rates, private, youth, senior, student/minor, affinity, bump-up, no-penalty, callable, variable, step-up, auto transfer, club, gifts, grandfathered, internet-only and IRA CDs are not considered in the calculation. You build a CD ladder by saving your money in multiple CDs with cascading term lengths. For instance, you might buy a one-year CD, a two-year CD, a three-year CD, a four-year CD and a five-year CD. As each of the shorter-term CDs matures, you replace it with a new five-year CD. Follow this plan and you'll have one better-yielding five-year CD maturing each year. If you're ever having a bad year, you could take some of the cash from the expiring CD and use it to pay bills instead of pouring it all into a fresh CD. Comparison shop to track down the best CD rates. Banks and credit unions compete by offering alluring yields to land your business, so shopping around is a must before you purchase any bank CD or credit union share certificate. CDs usually come with zero fees, meaning your money won't be nibbled at by the monthly maintenance fees that are typical with many savings, checking and money market accounts. You will likely be charged an early withdrawal penalty if you end your CD term early. Make sure you won't need access to your cash in the meantime.
