29 July 2019
Question: According to MSN: Money, what are five (5) steps you can take now to avoid going broke in retirement?
Carmakers face tough choice on China as vehicle sales plummet – Pg. 1
- China’s shrinking car market is hitting foreign groups, with some companies operating at a fraction of their potential output, sparking fears that a number will be forced to quite the country
- Ford’s plants in China operated at 11% of their potential output in the first half of the year,…
- Chinese passenger vehicles sales fell 4% to 23m last year. Sales have continued to decline this year, dropping 14% in the first half compared with 2018
Fed poised for rates reversal with first cut in a decade – Pg. 2
- Swap contacts imply that investors have priced in more than 80% chance of a 25bps cut at the Fed’s monetary policy meeting on Wednesday, with a nearly 20% likelihood of a larger cut
- This comes despite the US economy experiencing its longest-running growth streak since at least 1854, enjoying near-record low unemployment and record-high equity markets
- …there have been some signs of a slowdown, with second-quarter GDP growth coming in at 2.1%, a big drop on the 3.1% recorded in the first quarter
- The first clear signal that Mr Powell was entertaining a rate cut came in early June, during a low point for US trade policy. Talks with China had collapsed, and Donald Trump, US president, had threatened to slap sweeping tariffs on Mexican products
- The traditional relationship between prices and joblessness has all but broken down
- A rate cut this week would be the first fruit of that shift in thinking – indicating an acceptance by the Fed that there is more slack in the jobs market than mainstream economists had believed
Speculation builds on depth of US rate cut against increasingly worrying global growth backdrop – Pg. 8
- Tomorrow the Federal Reserve convenes for a much-anticipated policy meeting
Why today’s office events are becoming a sober experience – Pg. 12
- ….while clients still like drinks-based events, they increasingly want to offer employees the opportunity to shake a mocktail too
- While there is no desire to ditch the cocktail shaker altogether, employees want more options
- Social media, which can become a public forum to shame drunken mishaps, is another factor
- The #MeToo movement has also forced many companies to review their alcohol policies
Answer: (1) Create a realistic retirement income plan; (2) Start saving 10% of your income immediately; (3) Consider delaying your social security benefits; (4) Invest your time in a side hustle; (5) Meet with a financial adviser