Month: November 2019

Mandatory distribution refers to the minimum amount an individual must withdraw from certain types of tax-advantaged retirement accounts each year in order to avoid tax penalties. Mandatory distributions go into effect in the year an individual turns 70 ½ years old. The Internal Revenue Service’s official name for mandatory distributions is required minimum distributions, or
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The action began at 3am UTC, with a sell order roughly 6 percent below the market price and hundreds of times larger than the norm on the exchange at that time. As that order fulfilled available bids, the ask price moved lower, dragging the market price down until it reached $6,276, at which point the
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Part of the Cherohala Skyway in the Cherokee National Forest in Tennessee Getty One automaker delivered the gift of green infrastructure this holiday season. To help protect forestlands, Volkswagen of America, through a sponsorship of The Conservation Fund, is donating $1.25 million towards increasing the footprint of the Cherokee National Forest in Tennessee by nearly
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In general, early withdrawals—before age 59½—from any type of qualified retirement account, such as IRAs and 401(k) plans, come with a 10% penalty, as well as any income taxes due, although there are some exceptions to this rule. Key Takeaways Contributions to traditional IRAs are tax deductible, earnings grow tax free, and withdrawals are subject
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The German government will temporarily take stakes in high-tech companies to stop them being sold to investors in non-EU countries, a proposal by the economy ministry that underscores the growing protectionist mood in Berlin. But the “national fallback option” unveiled by economy minister Peter Altmaier on Friday represents a marked retreat from an earlier idea
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German banking association BdB was positive about the legislation, too. “Credit institutions are experienced in the safekeeping of client assets and in risk management, are committed to investor protection and have always been controlled by the financial supervision,” it said. As such, banks could “effectively prevent money laundering and terrorist financing” with crypto assets.
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Legislation clarifying the legal status of cryptocurrencies, including mining and token sales, was reported to be passing through the State Duma by the end of the last summer session, but has seen delays. Two of three planned bills were passed in 2018, however, one regarding digital rights and the other covering crowdfunding, RIA says.
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Timing Is Everything After years of hard work, you’re certainly entitled to a happy retirement. You may have already started daydreaming about it, at least a little. Will you travel the world, volunteer for your favorite charity, go fishing, or spend more time with the grandkids? The possibilities are endless. Even so, many workers are
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Much of the progress in fighting HIV/Aids is thanks to treatments such as antiretroviral (ARV) drugs. Alongside those, however, are other innovations that have provided models for broader moves towards universal health coverage.  The rapid spread of the disease and alarming levels of mortality spurred quick action, extensive research and greater development efforts. Other reactions
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Workers install roof trusses on a home under construction in Vineyard, Utah. George Frey | Bloomberg | Getty Images Continued low mortgage rates are keeping bankers busy, as refinance applications continue to rise. Refinance volume helped push total mortgage application volume up 1.5% last week compared with the previous week. Volume was 153% higher compared
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Robinhood co-founder and co-CEO Vlad Tenev speaks onstage during the TechCrunch Disrupt New York event on May 10, 2016. Noam Galai | Getty Images for TechCrunch Robinhood is no longer looking to become a federally insured bank. The stock-trading start-up announced Wednesday that it was pulling its bank charter application with the Office of the
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If you’re like the majority of people, you probably need to step up your retirement savings efforts. A recent report from the Government Accountability Office (GAO) found that the median retirement savings for Americans between age 55 and 64 was $107,000. The GAO notes this sum would only translate into a $310 monthly payment if it was invested in
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The EU has declared a global “climate emergency” ahead of next week’s international COP25 climate summit. In a symbolic move that supporters hope will put pressure on the new European Commission to deliver an ambitious set of green policies, MEPs on Thursday voted in favour of declaring the emergency by 429 votes in favour and
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The U.S. economy expanded “modestly” through mid-November amid steady consumer spending and some brighter signs from manufacturers, a Federal Reserve survey showed. “In manufacturing, more districts reported an expansion in the current period than the previous one, though the majority continued to experience no growth,” said the report released Wednesday in Washington. “The picture for
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The North American Free Trade Agreement (NAFTA) is a pact eliminating most trade barriers between the U.S., Canada, and Mexico that went into effect on January 1, 1994. Some of its provisions were implemented immediately, while others were staggered over the 15 years that followed. Now in its 25th year, its future is in question. U.S. President Donald
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French MPs have proposed banning some Black Friday promotions as a backlash against the US-imported sales frenzy grows. The suggested ban is part of an anti-waste bill and aims to end false advertising of discounts. The draft legislation would not hit the statute books in time to affect this year’s annual shopping craze at the
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