January 26, 2021

Personal Finance

DailyHum News
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Janet Yellen confirmed as Treasury Secretary — first woman to hold the position
Personal Finance

The U.S. Senate voted 84 to 15 on Monday to confirm Janet Yellen as the 78th Secretary of the Treasury.Yellen, 74, is the first woman to hold the position in the Treasury’s 231-year history, and only the second person to ever have served as both Federal Reserve chair and Treasury Secretary (G. William Miller).Her immediate challenge will be buoying the U.S. economy as COVID-19 vaccinations continue to roll out across the country. The statistics underscore the depth of the crisis that Yellen will attempt to address: about 10 million fewer people are without jobs compared to pre-pandemic levels, and workers in the bottom wage quartile are likely experiencing unemployment rates above 20%.
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The growth in contactless delivery due to the pandemic
Personal Finance

Arik Levy, Luxer One CEO joins the Yahoo Finance Live to discuss Sacramento-based Luxer One which develops smart locker technology for retailers, schools, libraries, corporate environments and multifamily buildings and their announcement this week that it’s the first such company to reach 100M deliveries through its smart lockers.
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Goldman Sachs warns of a dangerous bubble in these 39 stocks
Personal Finance

Goldman Sachs isn’t yet ready to state the euphoric stock market is one big bubble nearing an epic pop all over the faces of Wall Street bulls, but it is warning investors about some stocks.“Equity valuations are extremely elevated on an absolute basis. But after taking low interest rates into account, the aggregate index actually trades below average historical valuation,” Goldman’s U.S. equity chief David Kostin says.
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Biden's 'Buy American' executive order 'fulfills campaign promise to strengthen businesses': Council of Economic Advisors Member
Personal Finance

Biden Council of Economic Advisors Member Heather Boushey, joins Yahoo Finance to discuss President Biden's 'Buy American' executive order.
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Affordable Car Insurance
Personal Finance

Car insurance – while you might loathe having to pay for something you (hopefully) never need to use, it’s mandatory in most states today. The only real choice you have here is ensuring that you opt for the right insurance (in terms of company, type, coverage amounts, etc.) so that you’re not being ripped off. So this is how to get car insurance the right way. Saving you money and keeping you properly covered.
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What to expect from FOMC this week
Personal Finance

Colleen MacPherson, CFA, Portfolio Manager and Director of Research at Penobscot Investment Management, joins Yahoo Finance's Kristin Myers to break down the latest market action, as earnings season rolls on and investors prepare to hear from Fed. Chairman Jay Powell.
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‘Make saving very easy’: Retirement planning tips for the Biden era
Personal Finance

President Biden took office at a time when millions of workers have had to readjust their vision of their retirement years due to pandemic-induced job losses and rising health care costs.To compensate for these financial shortfalls in golden years, Matthew Rutledge, a research fellow at the Center for Retirement Research at Boston College, recommended that the new administration set up automatic individual retirement account (IRA) plans for all Americans, particularly because not everyone is offered a 401(k) through their employer.
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Buying Tesla Stock? You Should Watch This First...
Personal Finance

Whitney Tilson is one of the most famous and successful investors in America… He first made his mark on Wall Street, starting a hedge fund with just $1 million, ultimately growing it into a series of funds worth 200 times that amount. Along the way he met Presidents Clinton and Obama… was asked to speak at America’s most prestigious business schools (like Harvard, Columbia, and Wharton)… and bought some of the best investments in the world, in the very early stages, for his clients. Such as:
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Apple’s Q1 earnings will show ‘some really strong numbers’: Analyst
Personal Finance

Futurum Research Principal Analyst Daniel Newman joins Yahoo Finance Live to discuss what he expects for Apple’s first quarter earnings and break down what lies ahead for the future of the tech company.
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About 100 million Americans can file their taxes for free. Here’s what you need to do
Personal Finance

Tax filing season is swiftly approaching, and many Americans may be able to file their returns for free.About 70% of people filing taxes in the U.S., equal to roughly 100 million Americans, are eligible for a free program through the IRS, according to the agency. Even more may be able to file through other programs that offer tax preparation services at no or little cost.Low-cost tax filing may be extra important this year for Americans who have suffered due to the coronavirus pandemic. Filing with an accountant or even through some online programs can be costly during a year where millions have lost jobs and income.And, those that were eligible for economic impact payments and either didn't get one or got the wrong amount will have to claim them as a refundable credit on their taxes this year – even if they usually do not file.
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Market Recap: Monday, January 25
Personal Finance

Stocks traded choppily ahead of a busy week that will include a slew of corporate earnings results, economic data, Federal Open Market Committee meeting and debate over the Biden administration’s $1.9 trillion stimulus proposal. Chief Market Strategist at Truist / SunTrust, Keith Lerner, and Optimal Capital Director of Strategy Frances Newton Stacy joined Yahoo Finance to discuss.
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Sunlight Financial to go public through SPAC
Personal Finance

Sunlight Financial CEO Matt Potere joined Yahoo Finance Live o break down Sunlight Financial's plan to go public through a SPAC and its role in Solar Systems future.
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Ex-CIA engineer tells judge he's incarcerated like an animal
Personal Finance

NEW YORK (AP) — A former CIA software engineer charged with leaking government secrets to WikiLeaks says it's cruel and unusual punishment that he's awaiting trial in solitary confinement, housed in a vermin-infested cell of a jail unit where inmates are treated like “caged animals."Joshua Schulte, 32, has asked a Manhattan federal judge to force the federal Bureau of Prisons to improve conditions at the Metropolitan Correction Center, where he has been held for over two years under highly restrictive conditions usually reserved for terrorism defendants.
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Yahoo Finance Presents: Ciara & Christine Day
Personal Finance

Yahoo Finance’s Brian Sozzi sits down with Ciara, The House of LR&C Co-Founder, and Christine Day, The House of LR&C President & Co-Founder, to discuss their new venture together as well as what’s driving fashion, and their business goals in the coming years.[MUSIC PLAYING]BRIAN SOZZI: Former Lululemon CEO Christine Day has teamed up with Grammy Award-winning artist Ciara to launch a different kind of fashion house. The House of LR&C aims to do good in the business of fashion by doing good for the world. Christine Day and Ciara join me now. Good to see you both. Christine, I have to start with you. How did Ciara talk you to dust off your power roots to get back into this business?
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How COVID-19 altered people's financial behaviors
Personal Finance

Everyday life barely resembles what it did a year ago. Many of us work differently, save differently and certainly spend differently. The COVID-19 pandemic halted some financial behaviors while creating new ones.Some of these trends might unwind in coming months, once vaccines are widely distributed and the health risks subside. But others could endure much longer, possibly becoming permanent fixtures.Here are some money-oriented themes for 2021 and possibly beyond that were created at least partly by the health crisis.As consumer confidence returns, so will spending as pent-up demand is unleashed. "That has been the experience of all previous economic downturns," said a report on emerging trends from management consultant McKinsey & Co. One key difference this time is repressed economic activity in many service and leisure areas.
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Black-owned businesses hope this round of PPP won’t fail them
Personal Finance

Adrienne Parker knows what it is like to struggle as a Black small business owner during the pandemic.The sole proprietor of Peace of Mind Consulting, a management and bookkeeping consulting firm in Atlanta, Parker saw much of her income dry up as clients faced their own financial struggles.So when the first round of Paycheck Protection Program loans became available, she went to a community development financial institution (CDFI), Atlanta-based ACE, instead of a big bank."I have heard the horror stories, and I have witnessed the horror stories first-hand, the experiences with the large banks," said Parker, 37.While she eventually got a $9,000 loan, one of her clients, who went through a larger institution, waited for months to find out they had been turned down.
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Here’s why analysts think Peloton is overvalued
Personal Finance

Yahoo Finance’s Brian Sozzi breaks down how Peloton is faring so far in 2021 as well as discuss what the future of the fitness industry looks like amid pandemic.
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Your next stimulus check: Congress to speed along $1,400 payments this week
Personal Finance

Congress plans to take steps this week toward quickly passing President Joe Biden's coronavirus aid proposals, including a third wave of direct relief payments for most Americans.The next batch of stimulus checks would be for $1,400 — to top off the $600 payments that started going out in late December. Democrats and former President Donald Trump had wanted to provide $2,000 in that round but were thwarted by Republicans leading the Senate at that time.
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Biden’s 'Buy America' plan won’t work
Personal Finance

Just about every president promises a new-and-improved Buy America plan, and just about every president leaves with disappointing results. Joe Biden is likely to be the next.Biden signed an executive order on Jan. 25 meant to boost federal purchases of American-made products, to strengthen the U.S. manufacturing sector. Federal law already requires this, but waivers are available if U.S.-made products cost too much. The Biden order will make it harder to get a waiver, while also requiring more components inside finished products to be American-made instead of imported. There will also be a new White House office enforcing the rules and making sure purchasing agencies don’t cut corners.
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Biden administration will revamp effort to put Harriet Tubman on $20 bill
Personal Finance

The Biden administration is looking to revamp the effort to place Harriet Tubman on the $20 bill, replacing former president Andrew Jackson.“I was here when we announced that, and it was very exciting and hasn’t moved forward yet,” White House Press Secretary Jen Psaki, who also served in the Obama administration, told reporters during a briefing on Monday afternoon. “The Treasury Department is taking steps to resume efforts to put Harriet Tubman on the front of the new $20 notes. It’s important that our notes, our money... reflect the history and diversity of our country and Harriet Tubman’s image gracing the new $20 note will certainly reflect that.”
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What the future holds for labor unions
Personal Finance

Union membership declined last year, while union density rose by 0.5% in 2020, according to the Bureau of Labor Statistics. AFL-CIO Chief Economist William Spriggs joins Yahoo Finance Live to weigh in on the Bureau of Labor Statistics latest findings on union workers and break down how Biden can help the U.S. labor movement amid pandemic.
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Here's how to cut your Medicare costs
Personal Finance

It's a new year, which means new Medicare costs.For Medicare's 63 million beneficiaries, certain parts of the program change yearly and can affect premiums, deductibles and other cost-sharing. While the upward adjustments don't necessarily involve huge dollar amounts, they can become challenging for some beneficiaries."Though the increases are small, we do see retirees worry over them," said Danielle Roberts, co-founder of insurance firm Boomer Benefits. "For folks living on just Social Security, increases of even just a few dollars are a concern."Depending on the specifics of your coverage, there may be ways to reduce your costs. Here's what to know.Basic Medicare consists of Part A (hospital coverage) and Part B (outpatient care). About 40% of beneficiaries choose to get those benefits delivered through Advantage Plans, which are offered by private insurers. Most of those plans also include Part D prescription drug coverage and extras such as dental or vision.
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'Payment status not available': What to know if you still haven't received your $600 stimulus check
Personal Finance

If your $600 stimulus payment still hasn't landed in your bank account or in your mailbox, you may be wondering if you can still expect it.According to the most recent guidance from the IRS, the answer is: "Maybe."Millions of second stimulus payments have been sent out in recent weeks after Congress approved the payments in late December.The checks include $600 per person, plus $600 per child under 17, provided they fall under certain income thresholds. Generally, full payments go to individuals earning up to $75,000 and married couples filing jointly up to $150,000, and gradually phase out for income above those levels.The IRS has an online tool — Get My Payment — through which individuals can check on the status of their checks. Provided you are eligible for the money, the status should show the date of the payment and method — direct deposit, check or debit card.
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Scam lenders are on the rise in the U.S. Here's how to know if a lender is legitimate
Personal Finance

If you didn't already know, scam lenders and loans are on the rise, fueled by the economic fall-out of the Covid-19 crisis. Bad lenders have been around for a long time, however, and though the tactics they employ may evolve over time, with a keen eye and some common sense, you should still be able to spot them pretty easily. The proliferation in recent years of online lenders has also created a renewed emphasis on researching lenders' online presence and any complaints. Here are some key red flags and how to spot them.If you're being offered a loan by a company you haven't already vetted thoroughly, the easiest place to start doing so is online. A simple search query should generate enough to get you started - take a look at their online footprint, any associated customer reviews, or signs of negative news stories. Then, it's reasonable to follow-up with a lender search by name with both the Better Business Bureau (BBB) and the Consumer Finance Protection Bureau(CFPB). The BBB can provide a plethora of information, including customer reviews and complaints, and an A-to-F letter grade rating of a lender's reputation and business dealings.
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Yellen nomination passes through Senate panel
Personal Finance

Yahoo Finance's Brian Cheung joined Yahoo Finance Live to break down how Janet Yellen is poised to become the first female Treasury chief as her nomination passes through the Senate.
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