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BlackRock, the largest asset manager, has introduced a new product called LifePath Paycheck, aimed at assisting workers in turning their retirement savings into a consistent income stream that mirrors their pre-retirement paycheck. This initiative comes at a time when individuals are transitioning from traditional defined benefit plans, such as pensions, to defined contribution plans like
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Employee Stock Purchase Plans (ESPPs) can be a valuable benefit offered by publicly traded companies. These plans allow employees to purchase company shares at a discounted price, providing an opportunity for potential financial gains. However, before enrolling in your company’s ESPP, it is essential to understand the rules and risks associated with this option. While
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The Biden administration recently announced a final rule that seeks to enhance protections for retirement savers by regulating the investment advice provided by advisors, brokers, and insurance agents. This rule, issued by the U.S. Department of Labor, expands the definition of when a financial professional must act as a “fiduciary,” requiring them to prioritize the
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Federal Reserve Bank of Chicago President Austan Goolsbee recently expressed his views on the difficulty of reaching the 2% inflation target by 2024 at the Society for Advancing Business Editing and Writing’s annual conference. Despite the Fed’s commitment to this goal, Goolsbee acknowledged that the path to achieving it is becoming increasingly challenging due to
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