Wealth Preservation

Wells Fargo tells new clients they need $1 million in balances for certain mortgage refinancing

5 years ago

Wells Fargo is now requiring new customers to bring at least $1 million in balances if they want to refinance a jumbo mortgage, up from a previous level of $250,000, according to people with knowledge of the policy.
The change came in a July 1 overhaul of lending guidelines that broadly lowered barriers to the product for existing customers, while making it far harder for new ones to qualify, said the people, who declined to be identified speaking about the move.
“They don’t want to take somebody else’s balance sheet and put it in on theirs,” said one of the sources. “We’re very busy and they wanted to slow down the number of loans coming in.”

Millennials are piling into stock trading in Asia. Here’s how to make the most of your money

5 years ago

Last week, major U.S. indices recorded their best quarter in decades. The Dow Jones closed up 17.77% on June 30 to notch its best three months since 1987. The S&P 500 ended up 19.95%, a high not seen since 1998. The Nasdaq finished higher by 30.63%, its greatest gain since 1999.

Here’s an easy, low-cost way to build a retirement plan like the pros

5 years ago

The ideal retirement strategy uses a guaranteed pot of money for living expenses and ensures investment assets don’t run out.
Everyday retirees can approximate this plan with Social Security income and by withdrawing investment money according to a simple formula published by the IRS.
There are risks, such as large unforeseen expenses.

Dow jumps more than 500 points to start the week as Boeing and Apple rise

5 years ago

The Dow Jones Industrial Average closed 580.25 points higher, or 2.3%, at 25,595.80. It was the Dow’s best day since June 5, when it soared more than 3%. The S&P 500 jumped 1.5% to 3,053.24 while the Nasdaq Composite gained 1.2% to end the day at 9,874.15.

British Airways is auctioning off art worth millions as pandemic weighs on earnings

5 years ago

British Airways plans to auction off art worth millions as the airline looks to raise capital amid the coronavirus crisis.

The auction, first reported by U.K. newspaper The Evening Standard, will include works from Damien Hirst, Peter Doig and Bridget Riley, with one of the pieces valued at more than £1 million ($1.26 million).

Asia Pacific stocks mostly higher as Fauci warns of surge of coronavirus cases in U.S.

5 years ago

Shares in Asia Pacific mostly traded higher Wednesday morning.
White House health advisor Dr. Anthony Fauci warned Tuesday that parts of the U.S. are beginning to see a “disturbing surge” of Covid-19 cases.
Fauci did also say, however, that states with growing coronavirus outbreaks may not need to do an “absolute shutdown.” More than 2 million people in the U.S. have been infected with the coronavirus so far, according to data compiled by Johns Hopkins University.

Stock futures edge higher after Nasdaq Composite notches new record

5 years ago

Dow Jones Industrial Average futures added 45 points, suggesting an open gain of 43 points when regular trading resumes on Wednesday. S&P 500 futures pointed to a gain of 0.15% while Nasdaq-100 futures indicated an opening advance of about 0.2%.

Boeing suspends dividend, CEO foregoes pay after virus-related aid request

5 years ago

Boeing is pursuing $60 billion in U.S. government aid to help prop up a U.S. aerospace manufacturing supply chain already reeling from the year-old grounding of its previously fast-selling 737 Max jetliner after fatal crashes.

S&P 500 snaps 4-day winning streak, Nasdaq-100 touches record before retreating

6 years ago

The S&P 500 slid 0.3% to 3,112.35 while the Nasdaq Composite dropped 0.7% to 9,615.81. It was the first decline in five sessions for both indexes. The Dow Jones Industrial Average closed just above the flatline, advancing 11 points, or 0.1%, to 26,281.82.

Elon Musk calls for Amazon breakup after Covid-19 skeptic claims it censored his book

6 years ago

Elon Musk on Thursday tweeted that he thinks it’s time to break up Amazon.
“This is insane @JeffBezos,” Musk said, tagging the Amazon CEO. “Time to break up Amazon. Monopolies are wrong!”
His tweet was directed at former New York Times reporter Alex Berenson and Amazon CEO Jeff Bezos after Berenson published a screenshot showing that his upcoming book about Covid-19 doesn’t meet Amazon guidelines for sale.

Wealth Preservation

Wells Fargo tells new clients they need $1 million in balances for certain mortgage refinancing

Millennials are piling into stock trading in Asia. Here’s how to make the most of your money

Here’s an easy, low-cost way to build a retirement plan like the pros

Dow jumps more than 500 points to start the week as Boeing and Apple rise

British Airways is auctioning off art worth millions as pandemic weighs on earnings

Asia Pacific stocks mostly higher as Fauci warns of surge of coronavirus cases in U.S.

Stock futures edge higher after Nasdaq Composite notches new record

Boeing suspends dividend, CEO foregoes pay after virus-related aid request

S&P 500 snaps 4-day winning streak, Nasdaq-100 touches record before retreating

Elon Musk calls for Amazon breakup after Covid-19 skeptic claims it censored his book

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