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Olympics: Tokyo 2020 chief asks Abe to consider daylight savings

“TOKYO (Reuters) – Tokyo 2020 Olympics President Yoshiro Mori said on Tuesday he had met with Japanese Prime Minister Shinzo Abe to call on him to consider implementing daylight savings time amid concerns about athlete safety during the Games” writes Midwest Communications Inc for 95kqds.com. Mori’s comments comes as an opinion poll published by national broadcaster NHK on Tuesday showed 51 percent of respondents were in favor of switching to daylight savings time, with only 12 percent against. Japan is among a handful of major economies that does not use…

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What Congress is doing to boost your retirement savings

“Translate retirement savings into retirement income” writes Richard Eisenberg for marketwatch.com. The Washington Post recently noted that one of the major retirement bills being floated— the Retirement Enhancement and Savings Act or RESA — “could add millions of people to the rolls of tax-deferred retirement accounts.” Helping workers save for retirement could go a long way to lessen the retirement crisis in America.Raising the credit, says Jamie Hopkins, retirement income program director at The American College of Financial Services, “is a great idea to incentivize and encourage plans.” 3.Let more workers invest…

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Brooks Brothers is offering an extra 25% off already-marked-down styles — and more of today’s best deals from around the web

“Right now, you can find a range of Arlo security systems on sale at Amazon, with savings of up to $230” writes Remi Rosmarin for businessinsider.com. Now through August 13, find these great savings on everything from shoes, handbags, outerwear, and accessories, for both men and women. Source: businessinsider.com Share This:

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Which banks have passed on the interest rate increase to customers?

“TSB said it was reviewing its variable interest rates on mortgages and will make an announcement as soon as possible” writes Ben Chapman for independent.co.uk. All savings products linked to the base rate will move in line with the increase from the end of August. Nationwide has not yet announced rates, while the Post Office will raise its variable mortgage rates 0.25 per cent from 1 September.After the Bank of England’s interest rate hike on Thursday, some high street lenders have again been quick to pass on the increase to their mortgage…

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Markets News 

Millennials want more from property markets: Transparency, affordability, and digitization

“At treehouse, we provide what people are expecting more from the property market: transparency, affordability and digitization” writes Raz Iordache for venturebeat.com. Tellingly, the percentage of individuals living with their parents, for people born in different years, has increased by age with each successive generation: It’s no wonder then, that millennials are expecting more from the property market: transparency, affordability, and digitization.Mean house prices were 152 percent higher in 2015–16 than in 1995–96 after adjusting for inflation.The key reason for the decline is the sharp rise in house prices relative…

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Big changes to your 401 and IRA — and more retirement news

“Only 2% of Americans knew the answers to the most fundamental questions about retirement ages, Social Security and Medicare benefits, according to a recent survey by GoBankingRates” writes Paul Brandus for marketwatch.com. Take it see if you’re as clueless as the rest of America when it comes to your retirement. Customized withdrawal plans increase the odds your savings will last longer.” As usual, talk this kind of thing over with your financial adviser.That 4% withdrawal rate — you could be shortchanging yourself You know the rule of thumb that says…

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The mysterious slump in how much Americans save is a mystery no longer

“Aside from big changes in the savings rate, GDP figures over the past five were mostly the same” writes Jeffry Bartash for marketwatch.com. The main reason the government raised the savings rate was because profits for partnerships, individual-owned companies and other small businesses were much higher than originally estimated.What that suggests is the savings rate was highest among the well-off.Previously it appeared the savings rate tumbled from 6.1% in 2015 to 3.4% in 2017, the lowest rate in a decade.Read: In one chart: The ‘significant damage’ a U.S.-China trade war…

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Will government saving and debt recommendations save us?

“After hearing extensive evidence from debt charities to pension providers many of these recommendations are what insiders have been banging on about for years” writes Kate Hughes for independent.co.uk. Personal debt levels are now at pre-financial crisis levels and just one of the major debt charities estimates that someone new contacts them every 51 seconds because they’ve hit the buffers.Nicky Morgan MP, Chair of the Treasury Committee, said: “Many households are facing challenges that are putting pressure on the health and sustainability of their finances.Whilst financial service regulators and guidance…

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House repeals Obamacare health insurance tax, expands Health Savings Accounts

“The House has passed healthcare bills to delay the health insurance tax in Obamacare and to expand the use of Health Savings Accounts ahead of its summer recess” writes Ap Photo Alex for washingtonexaminer.com. Health Savings Accounts, or HSAs, can be filled with workers’ pre-tax earnings up to a limit.It delays the tax on health insurance from taking effect by two years.Under federal law, HSAs must be paired with health insurance plans that have high deductibles, but a quirk in Obamacare’s language has made it illegal to use them with…

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