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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
G7’s Amazon aid plan treats region like a ‘colony’, Bolsonaro says

G7’s Amazon aid plan treats region like a ‘colony’, Bolsonaro says

World
Brazil's president Jair Bolsonaro says the idea of an alliance of G7 countries helping save the Amazon from wildfires would leave his country treated like "a colony or no man's land".Mr Bolsonaro, a right-wing leader who wants to open the Amazon to more farming and mining, said on Twitter that Emmanuel Macron's initiative was an attack on Brazil's sovereignty. It followed the French President's announcement at the G7 summit he hosted in Biarritz that the Group of Seven had agreed on a $ 20m (£16m) firefighting fund as well as a long-term initiative to protect the rainforest. Image: There have been more than 26,000 wildfires across Brazil in August Mr Bolsonaro tweeted: "We cannot accept that a president, Macron, unleashes unreasonable
Largest-of-its-kind coral study offers plan to save the planet’s reefs

Largest-of-its-kind coral study offers plan to save the planet’s reefs

Science
Aug. 12 (UPI) -- A new survey of coral communities -- the largest of its kind, according to the research team -- has offered a roadmap for protecting Earth's reefs. The international team of scientists, including researchers with conservation groups, government agencies, and universities, identified three main strategies that can be quickly enacted to save reefs from climate change and human impacts. To identify where and how to save reefs, researchers measured coral abundance on more than 2,500 reefs along the coasts of 44 countries in the Indian and Pacific oceans. Their analysis proved a majority of reefs host functioning coral communities with a diverse and architecturally complex cover of species. After the El Niño event that lasted from 2014 to 2017, which triggered the largest cor
Turkish fund eyes £900m British Steel revival‎ plan

Turkish fund eyes £900m British Steel revival‎ plan

Business
By Mark Kleinman, City editor The Turkish pension fund plotting a takeover of British Steel is preparing to commit close to £1bn to help fund the company's revival.Sky News has learnt that Ataer Holding, which is poised to enter a formal period of exclusive negotiations to buy British Steel this week, has drawn up a business plan that would involve approximately £900m of investment over several years. The figure is in addition to a support package from the government - revealed by Sky News late last week - that could amount to £300m in the form of grants, indemnities and loans on commercial terms.Ataer is a unit of Oyak, which looks after the pension pots of Turkey's military personnel.Insiders said that the Official Receiver (OR) was likely to announc
Freeports plan unveiled to boost post-Brexit trade

Freeports plan unveiled to boost post-Brexit trade

Business
By Jon Craig, chief political correspondent Plans to create up to 10 duty-free or low-tax ports and airports across the UK – promised by Boris Johnson in his Tory leadership campaign – are being launched by the government.Liz Truss, the new International Trade Secretary, is creating a new Freeports Advisory Panel to advise the government on setting them up in areas such as Teesside, Aberdeen, and Belfast. The government aims to create the first new freeports after the UK leaves the EU and claims they will "turbocharge" growth and ensure towns and cities across the UK benefit from a Brexit trade boost."Freedoms transformed London's Docklands in the 1980s and freeports will do the same for towns and cities across the UK," said Ms Truss, who succeeded Li