Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
The next time a calculator tells you that you're on track for a timely retirement, take those results with a heaping spoonful of salt.
A recent analysis of a dozen free retirement planning calculators from different financial services firms found wildly varying projections on how much income you'll need once you've stopped working.
Corporate Insight, a New York-based research and consulting firm, drafted a hypothetical profile of Art Vandelay (apologies to Seinfeld), a 40-year-old architect who is single, earns a $100,000 salary and has saved $100,000 in his 401(k) savings plan. Corporate Insight analyzes industry trends and customer behaviors for financial services companies.
Based on the data and other inputs, the calculators gave a wide range of monthly retirement income projections, from $6,013 to $3,772.
The magnitude of the savings shortfall also varied wildly. For example, the Retirement Wellness Planner from Principal Financial estimated that the saver needed an additional $4,597 per month to meet expenses, while the TIAA Retirement Advisor predicted a $1,120 income gap.
"Nothing is more dangerous than false confidence," said Andrew Way, a senior analyst at Corporate Insight. "This [output] should give you an idea of where you are, but don't take it as 100 percent set in stone."