The belief among many is that millennials have Yolo - you only live once - attitudes and cannot be bothered about undertaking tedious things like retirement planning. Well, think again. Manulife Singapore has found that one in two millennials, or Gen Y - those between ages 22 and 37 - has started saving for the future, ahead of other generations like the baby boomers (those born between 1946 and 1964) and Gen X (born after the baby boomers but before the 1980s). But its survey also showed that most millennials are likely to splurge their savings on short-term life goals, such as creating an Instagram-worthy home, over saving for retirement. Mr Tan Kuan Ho, its head of product development, notes that millennials do not like to think about retirement as it reminds them of dying and getting old. "For young millennials, a potential approach would be to talk to them about the concept of financial freedom so that they can go on living their life and pursuing their passion," he says. … [Read more...] about 9 financial planning tips for millennials
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Last week, global markets were roiled by Turkey’s currency crisis. A US-listed ETF for Turkey, TUR, dropped 24 percent in two days and is down 51 percent YTD. After Trump’s tirades against Turkey, the Turkish lira fell as much as 20 percent in one day, hitting its lowest point against the US dollar in history. Even though the lira recovered from its lows last week, it is still down 37 percent YTD. The turmoil in Turkey dragged down EEM, the emerging markets ETF, which lost six percent over four days. The Philippines was no exception to this, losing as much as 5.1 percent from its recent high of 7879 when it hit a low of 7479 last week. Rubbing salt into the wound Already suffering from fiscal and economic maladies, Trump just had to rub salt into the wound. Last Aug. 10, Turkey became the latest target of the tweeter-in-chief. Trump said that “I have just authorized a doubling of tariffs on steel and aluminum with respect to Turkey as their currency, the Turkish Lira, … [Read more...] about Turkey – contagion?
source Gleb Leonov/Strelka Institute/Flickr Taking control of your finances isn’t hard, as long as you know the basics. Author and financial expert Beth Kobliner offers eight “need-to-know” personal finance rules in the 2017 edition of her book “Get a Financial Life: Personal Finance In Your Twenties and Thirties.” Kobliner’s cheat sheet includes tips on saving money, paying off debt, investing in the stock market, and buying insurance. Personal finance can be daunting, but familiarizing yourself with basic money concepts – like how to build wealth, stay out of debt, and earn returns on your investments – will, quite literally, pay off. To help you get started, we turned to the latest edition of Beth Kobliner’s book “Get a Financial Life: Personal Finance In Your Twenties and Thirties,” released in April 2017. At the … [Read more...] about These 8 simple rules are the Sparknotes version of everything you need to know about personal finance
LONDON: Equity investors looking for protection from tech-led share reversals, trade wars and Europe's slowing economic momentum may find that the "defensive" sectors they usually seek out during market storms are no longer the safe havens they once were.Earnings of telecom, consumer staples and healthcare companies and utilities tend to hold up when macro indicators turn south, but many of these now face disruptive or competitive forces that threaten their traditionally robust income streams."'Defensive value' stocks have become a very small niche this cycle. Those that appear defensive and not aggressively priced typically have some structural or regulatory issues," said Paul Harper, equity strategist at DNB in Oslo.Big European telecom firms for instance are struggling to get hoped-for returns from their investments in broadband and mobile infrastructure as smaller rivals nip at their heels with simple, cheap data plans.And competition rules and the lack of a unified European … [Read more...] about Investors back on the defensive, but where to hide?
Two recently launched blockchain exchange-traded funds are off to a scorching start. But not every market-watcher is convinced that the funds are a solid investment. Two blockchain exchange-traded funds that began trading this month are off to a scorching-hot start, but some market watchers are raining on the parade. Earlier this month, Reality Shares and Amplify ETFs launched funds that aim to provide investors exposure to blockchain technology, which is best known for powering cryptocurrencies such as bitcoin. The size of Amplify’s blockchain ETF, which trades under the ticker BLOK, has ballooned to $180 million in the ten days since it began trading on the New York Stock Exchange. Reality Shares’ Nasdaq NexGen ETF, which trades under the ticker BLCN on Nasdaq, has soared past $100 million, the company announced Wednesday. Still, UBS said in a note out to clients Wednesday that blockchain, a distributed ledger technology, is … [Read more...] about Wall Street is raining on the red-hot blockchain ETF parade