In the good old days of retirement planning it was customary to assume that retirement income needed to be approximately 75-80% of what you made while you were working. In most cases your house would be paid for and the monthly budget would be substantially reduced. But somewhere along the line the cost of health insurance exploded like a voracious [...]
Bank of America reached a settlement with Fannie Mae concerning mortgages originated by Countrywide: (via CNNMoney) Bank of America has reached a $10.3 billion settlement with Fannie Mae to deal with questionable home loans it sold to the government-backed mortgage financer during the housing bubble. BofA (BAC, Fortune 500) will pay $3.55 billion in cash to Fannie as part of the deal. It [...]
The S&P 500 Cap-Weighted Index ((IVV)) has had an exceptional bounce-back week, albeit on very low volume due to the holiday weekend. The index blew through its 50-day moving average ov=nce it hit support at the 1400 level, and seems likely push through 1475 after testing support at the 1460 level. The index is up 17.30% in the last year. [...]
American Taxpayer Relief Act of 2012. That's the title of the recently passed legislation to avoid the so called "fiscal cliff". I don't know whether to laugh or cry. It isn't a true oxymoron since that term is generally reserved for things that are surprisingly true and paradoxical but it certainly fits the more common, modern usage of the term [...]
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