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Here’s how many people tapped their retirement plan to buy a house

Here’s how many people tapped their retirement plan to buy a house

Finance
Tony Anderson | DigitalVision | Getty ImagesSome people will do just about anything to buy their first home.Just under 10% of homeowners surveyed by Bankrate.com, a personal finance website, said they took out money from their retirement savings to help cover the down payment and closing costs on their first dwelling.The site polled a total of 2,582 adults from July 31 through Aug. 2.Nearly half saved money specifically toward their home purchase, while another 20% said they received a financial gift from family and friends.The median sales price for a home is $ 320,300, according to the Federal Reserve Bank of St. Louis, which can make the recommended down payment of 20% — what you'll need to avoid the additional cost of private mortgage insurance — a heavy lift for new buyers.Millennials
Amazon fires: ‘Our house is burning’, Macron warns ahead of G7

Amazon fires: ‘Our house is burning’, Macron warns ahead of G7

World
Media playback is unsupported on your device French President Emmanuel Macron has said the record number of fires in the Amazon rainforest is an "international crisis" that needs to top the agenda at this weekend's G7 summit."Our house is burning," he tweeted. Brazil's President Jair Bolsonaro responded by accusing Mr Macron of using the issue for "political gain". He said calls to discuss the fires at the G7 summit in Biarritz, which Brazil is not participating in, evoke "a misplaced colonialist mindset". The largest rainforest in the world, the Amazon is a vital carbon store that slows down the pace of global warming.It is also home to about three million species of plants and animals, and one million indigenous people.Satellite data publish...
Here’s how I kicked my post-college kid out of the house — and you can, too

Here’s how I kicked my post-college kid out of the house — and you can, too

Finance
Ted Jenkin (left), CEO of oXYGen Financial, with children Lyla, Louden and Olivia and wife Genna Jenkin.Ted JenkinIt's official: Apparently, you can go home again.A recent TD Ameritrade survey found that 50% of "young millennials" plan to move back home with their parents after college. The survey polled 1,027 members of Generation Z (which the survey defines as ages 15-21), 1,026 millennials (which the survey defines as ages 22-28) and 1,001 parents.This issue is actually very personal for me. My daughter Olivia recently graduated college and my two other children are at home closely following in her footsteps, so I made a strategic decision. I needed to kick Olivia out of the house and get her living on her own as soon as possible.Do you think I am a bad parent? Does this make me a mons...
Sports Direct faces £605m tax bill and ‘terminal’ problems at House of Fraser

Sports Direct faces £605m tax bill and ‘terminal’ problems at House of Fraser

Business
By John-Paul Ford Rojas, business reporter Sports Direct says it is facing a €674m (£605m) tax demand from Belgian authorities - as boss Mike Ashley warned that problems at House of Fraser were "terminal".Mr Ashley also warned of more store closures at House of Fraser and expressed apparent regret for buying it, as Sports Direct published a much-delayed set of full-year financial results. The tycoon used the results statement to deliver a stark assessment of the problems his business is facing as well as venting at length about those he blames for them.He warned that the acquisition of House of Fraser had "led to significant uncertainty as to the future profitability of the group as a whole".Meanwhile, the group said its chief financial officer Jon Kem
Sports Direct shares slip as House of Fraser weighs on results

Sports Direct shares slip as House of Fraser weighs on results

Business
Shares in Mike Ashley's Sports Direct have dived more than 10% after the retailer said it had delayed the publication of its annual results.The company, whose shares trade on the FTSE 250, blamed problems integrating its purchase of House of Fraser (HoF) stores last summer and increased scrutiny of its accounts. It added that this could affect its financial forecasts. Image: House of Fraser was bought by Mr Ashley in August last year Sports Direct had been due to publish results for the year to 28 April on Thursday but said it now expected to release them between 26 July and 23 August.Its statement said: "The reasons for the delay are the complexities of the integration into the company of the House of Fraser business, and the current...