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Finance

Surprise! Qualified retirement savings plan sponsors are, in fact, fiduciaries

Surprise! Qualified retirement savings plan sponsors are, in fact, fiduciaries

Finance
A 401(k) or any other qualified retirement savings plan is an extremely important part of overall financial planning for the long-term future. Participation in a qualified plan gives one a head-start on long-term financial security.The qualified plan not only provides a mechanism for saving, it also allows the money in the account to compound tax-deferred (or in the case of a Roth plan, tax-exempt). That means the earlier a person begins to participate in making contributions, the greater chance he or she has in amassing a substantial retirement account that may ultimately provide future financial independence.A high-quality advisory firm takes an active role in shaping clients' qualified plan portfolios, such as 401(k) plans, 403(b) plans, 457s, etc. The advisor looks at a client's overal...
6 things you should be saving for — but aren't

6 things you should be saving for — but aren't

Finance
The sandwich generationSaving money is a tall order for the average American. In fact, 69% have less than $ 1,000 in the bank according to a 2016 GoBankingRates survey. Whether you're on a tight budget or simply unskilled at personal finance, the time to change is now. Consider planning for these expenses to avoid unnecessary debt and worry.1. Emergencies We all hope that our job is secure and our roof will survive another winter, but life's emergencies don't cooperate with a master plan. Three in five people grappled with a major surprise expense in 2016, according to a Bankrate survey, and only 41% were equipped to pay for them. If this sounds familiar, take comfort in knowing that you aren't the only one living on the edge of financial risk. The average American household has around $ ...
Inside Blue Apron's IPO: Communication lapse chased away investors

Inside Blue Apron's IPO: Communication lapse chased away investors

Finance
Blue Apron has been a public company for less than two months. Already its stock price has been cut nearly in half, and it faces a slew of shareholder lawsuits and the departure of several executives.The confluence of these events and the magnitude of their occurrence at Blue Apron is rare. Many of them could have been avoided if shares of the meal delivery upstart had been priced better at the onset.So what happened? Blue Apron hired two of the best brands in stock underwriting — Goldman Sachs and Morgan Stanley — to figure out the right price. In the end, they were off by a factor of three.It's not like the challenges at the company were ever a surprise. Amazon announced a deal to acquire Whole Foods on June 16, a combination that threatened to eat into much — or all — of Blue Apron's ma
How Blockchain Will Shape the Future of Social Networks

How Blockchain Will Shape the Future of Social Networks

Finance
Shutterstock photo“If you’re not paying for the product, then you’re the product...” The saying may be well-versed in the world of social networks, however many users aren’t aware of the true price they are paying while posting online.Many of the major social networking websites of today are all free to use, so naturally users aren’t aware of any hidden costs. While at the other end, the sites themselves keep becoming more and more valuable based on the contributions and data provided by users.According to Metcalfe’s law, the value of a social network is directly proportional to the square of number of users. This is evident in the recent sky-high valuations of companies like Snapchat, Facebook, LinkedIn, and Whatsapp which have billions of dollars in market cap, even though some are yet t
These good-paying jobs don't require a bachelor's degree

These good-paying jobs don't require a bachelor's degree

Finance
For many Americans, well-paying jobs that don't require at least four years of college can seem scarce.The median annual income for workers with an associate's degree, which generally takes two years to complete, is $ 42,590, according to 2016 data from the Bureau of Labor Statistics. People with a high school diploma bring in $ 35,990 annually; non-diploma workers have even lower earnings at $ 26,210.All of those salaries are below the median weekly pay for the nation's 113.4 million full-time workers: As of June 30 of this year, that was $ 859, which translates into $ 44,668 annually.By comparison, a bachelor's degree, which typically takes four years to complete, comes with a median annual salary of $ 60,110. Advanced degrees often bring even more.And while Census Bureau data released e...