Timothy Sumer

A new study shows the average 401(k) plan dropped last year compared to 2021. ABC News businesses reporter Alexis Christoforous has details. WATCH the ABC News Live Stream Here: SUBSCRIBE to ABC NEWS: Watch More on LIKE ABC News on FACEBOOK FOLLOW ABC News on TWITTER: #401k #ira #retirementaccounts #retirement #investments #abcnews... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Reports Show 401(k) Balances Plunged in 2022 The year 2022 has not been kind to 401(k) account holders. Recent reports indicate that balances have taken a nosedive, leaving many Americans concerned about their financial futures. While the reasons behind this plunge are complex and multifaceted, they shed light on the challenges faced by individuals striving to save for retirement. One of the main contributors to the drop in 401(k) balan...

Cost of living pressures have risen again, with inflation hitting a four-month high. The key drivers are rising fuel, rent and food prices. While inflation has been moderating since its December peak, it could rise further in the coming months due to oil, energy and food inflation increasing around the world. Economists say the figures mean it is unlikely the Reserve Bank will increase interest rates at its October board meeting. However, there could be one more rate rise before the end of the year. Subscribe: Read more here: ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: Watch more ABC News content ad-free on ABC iview: Go deeper on our ABC News In-depth channel: Like ABC News on Facebook: Follow ABC News on Instagram: Follow ABC News on Twitt...

Gloom, Boom & Doom Report editor Marc Faber, also known as 'Dr Doom', says a recession in Australia this year is inevitable. Subscribe: Read more here: ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: Watch more ABC News content ad-free on ABC iview: Go deeper on our ABC News In-depth channel: Like ABC News on Facebook: Follow ABC News on Instagram: Follow ABC News on Twitter: Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia... ( read more ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing Renowned Swiss investor Marc Faber has made a bold prediction that Australia is likely to experience...

Around one million households will have to drastically cut back their spending due higher interest rates and soaring inflation. Subscribe: Read more here: That's the warning from a prominent economist, who says Australia is just as likely to fall into a recession as avoid one. ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: Watch more ABC News content ad-free on ABC iview: Go deeper on our ABC News In-depth channel: Like ABC News on Facebook: Follow ABC News on Instagram: Follow ABC News on Twitter: Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia #AusBiz... ( read more ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GO...

ABC News' chief economics correspondent Rebecca Jarvis breaks down what to know after Bloomberg economics found a 100% probability of a recession within the next 12 months. #ABCNews #recession #economy... ( read more ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing Recession Forecast Hits 100%: Bloomberg l GMA With the global economy grappling with the impacts of the ongoing COVID-19 pandemic, economists and financial institutions have been closely monitoring the possibility of a recession. Bloomberg, the renowned financial news and data platform, along with GMA, one of the Philippines' leading news networks, recently reported that the recession forecast has hit 100%. The term "recession" refers to a significant decline in economic activity, typically characterized by a substantial drop in gross domestic product (GDP) over two consecutive...

ABC News’ Elizabeth Schulze breaks down the report finding bank managers failed to manage the bank’s risk. WATCH the ABC News Live Stream Here: SUBSCRIBE to ABC NEWS: Watch More on LIKE ABC News on FACEBOOK FOLLOW ABC News on TWITTER: #ABCNLUpdate #signaturebank #fdic #abcnews... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The Federal Deposit Insurance Corporation (FDIC) has released their report on the failure of Signature Bank. The report details the events leading up to the bank's closure, as well as the FDIC's actions to protect depositors and resolve the situation. Signature Bank, based in Minnesota, was closed by the FDIC on May 31, 2019. At the time of its closure, Signature Bank had approximately $131.4 million in total assets and $127.4 million in total deposits. According to the FDIC's rep...

Prominent economist Nouriel Roubini tells Alicia Barry a stagflation crisis will emerge this year as central bankers struggle to curb inflation without crashing their economies. He expects a recession in US, Europe and other advanced economies. Subscribe: ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: Watch more ABC News content ad-free on ABC iview: Go deeper on our ABC News In-depth channel: Like ABC News on Facebook: Follow ABC News on Instagram: Follow ABC News on Twitter: Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia... ( read more ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing Nouriel Ro...

The Australian stock market fell on Tuesday, despite gains on Wall Street, while European markets have been mostly lower. Meeting minutes provided insight into the Reserve Bank's decision to pause rate hikes in April, revealing it was a close call. Subscribe: Read more here: ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: Watch more ABC News content ad-free on ABC iview: Go deeper on our ABC News In-depth channel: Like ABC News on Facebook: Follow ABC News on Instagram: Follow ABC News on Twitter: Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia... ( read more ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IR...

Most Californians don't need to submit their taxes until Oct. 16, 2023. Due to the the winter storms, the tax deadline has been extended for all but 3 counties in California. CPA Larry Pon explains who is impacted by the new deadline, contributions that will lower your tax bill and what you need to know about the middle class tax refund. #taxes #tax #taxday #middleclasstaxrefund #taxrefund #abc7news... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA As the tax season approaches every year, many taxpayers face the pressure of filing their tax returns and ensuring they're not missing anything. However, sometimes circumstances prevent them from completing the task on time. For instance, a taxpayer may not have all the necessary documents or resources to file their tax returns before the April 15th deadline. Fortunately, the state o...

"You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years." Treasury Secretary Janet sits down for an exclusive interview with ABC News Chief Anchor George Stephanopoulos to discuss the state of the economy, recession fears and President Joe Biden's upcoming State of the Union address. READ MORE: #abcnews #stateoftheunion #recession #inflation #economy #janetyellen #gma #news... ( read more ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing Janet Yellen, the U.S. Treasury Secretary, has rejected fears of a possible recession and stated that the country's economy is "strong". Speaking on the Good Morning America show, Yellen expressed optimism and confidence in the future of the American economy. Yellen's comments came amid concerns raised by experts and analysts about th...

Sources told ABC News that the FBI will be looking into whether any of Silicon Valley's senior leadership got unusual bonuses or sold stocks in the days leading up to the bank's collapse. WATCH FULL EPISODES OF WORLD NEWS TONIGHT: WATCH WORLD NEWS TONIGHT ON HULU: #worldnewstonight #abcnews #DOJ #sec #siliconvalleybank #svb... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have launched separate investigations into the failure of Silicon Valley Bank, which occurred in March of this year. According to reports, the DOJ's probe will investigate possible fraud or other criminal conduct related to the bank's failure, while the SEC's investigation will focus on potential securities law violations. Silicon Valley Bank, which prima...

Author and business coach Rachel Rodgers shares some survival tips you can follow to navigate a recession. SUBSCRIBE to GMA's YouTube page: VISIT GMA's homepage: SIGN UP to get the daily GMA Wake-Up Newsletter: FOLLOW GMA: TikTok: Facebook: Twitter: Instagram: WATCH full episodes: #GMA... ( read more ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing In today's uncertain economic climate, every penny counts. With recent economic indicators pointing towards a potential recession looming in our near future, preparing financially is more important than ever. Here are some money-saving tips to help you prepare for a recession. 1. Create a budget One of the most important things you can do to prepare for a recession is to create a budget. Take a hard look at your expenses and identify areas where you can cut back. This may mean makin...

Meanwhile, SVB’s parent company is filing for Chapter 11 bankruptcy to sell off its non-bank assets and raise cash. #banking #money #news #abcnews... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The Broadway community has been rocked by recent news of bank failures, as several major financial institutions that have traditionally funded Broadway productions are now struggling to stay afloat. Bank of America, Citigroup, and JPMorgan Chase have all been reported to have seen significant declines in their profits and financial stability, leaving many production companies scrambling to find alternative sources of funding. This has led to a rise in the number of small, independent production companies seeking crowdfunding or private investment to cover the costs of their productions. However, while this may seem like a viable ...

After Silicon Valley Bank's dramatic downfall, Treasury Secretary Janet Yellen insisted a government bailout is off the table. WATCH FULL EPISODES OF WORLD NEWS TONIGHT: WATCH WORLD NEWS TONIGHT ON HULU: #worldnewstonight #yellen #siliconvalleybank #bailout #siliconvalley... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The recent news of Silicon Valley Bank (SVB) faced with significant financial challenges and requesting a bailout from the Federal Reserve has not received the positive response it had hoped for. The current treasury secretary, Janet Yellen, has made it clear that no bailout will be provided to SVB. As the head of the Federal Reserve from 2014 to 2018, Yellen has extensive experience dealing with financial crises and ensuring the stability of the US economy. Her decision to deny a bailout for SVB is...

ABC News’s Mona Kosar Abdi joins from a New York City Signature Bank location where customers are being reassured that their money is safe. SUBSCRIBE to ABC News on YouTube: Latest updates: Watch FULL EPISODES on Hulu: #news #signaturebank #money #banks #abcnews... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing On May 10, 2021, the collapse of Signature Bank became the third-largest bank failure in U.S. history. The Texas-based bank had been struggling for years before being taken over by the FDIC in a bid to save it from total collapse. The bank's failure came as a result of a series of bad loans, mismanagement, and declining profits, all of which contributed to its eventual collapse. Signature Bank, which was founded in 2004, was once one of the fastest-growing banks in the U.S. It had a strong focus on small and ...

Treasury Secretary Janet Yellen said the government will remain vigilant and take additional steps as needed to support the banking system.... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing As the global economy continues to suffer the consequences of the COVID-19 pandemic, concerns are growing over the potential for more bank failures in the near future. Economists and financial experts are warning that the ongoing economic disruption could push some of the world's most vulnerable banks over the edge, risking a new wave of bank failures that could further amplify the economic shockwaves already being felt. Many countries have already experienced significant banking disruptions due to the pandemic. For example, in the United States, the Federal Deposit Insurance Corporation (FDIC) closed 5 banks in 2020, up from just one...