US stocks open sharply higher after 6-day slump

 NEW YORK (AP) — U.S. stocks are opening sharply higher Wednesday after slumping for six straight days amid concern that growth in China was slowing more quickly than previously thought.The Dow Jones industrial average rose 370 points, or 2.4 percent, to 16,041 as of 9:37 a.m. Eastern. The Standard & Poor's 500 index gained 41.09 points, or 2.1 percent, to 1,906.61. The Nasdaq composite climbed 101 points, or 2.3 percent, to 4,607.Treasury [...]

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Where's the Bottom? Skittish Investors Hope for End

Investors are asking "where's the bottom?" after six straight days of heavy losses on Wall Street.

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Burger King to McDonald's: Let's make a McWhopper

NEW YORK (AP) — This probably isn't what the United Nations had in mind when it established the International Day of Peace: Burger King is asking McDonald's to join forces to create a "McWhopper."In full-page newspaper ads Wednesday, Burger King says it's calling for a truce with McDonald's so that they can create a mashup of their most famous burgers — the Big Mac and the Whopper. Burger King says it wants to serve the concoction for a single day at a popup [...]

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7 Ways to Save on Professional Movers

If you're going to pay a company to haul your stuff, take this cheaper route.  

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How to Choose Large-Cap ETFs to Anchor an Investment Portfolio

There are hundreds of exchange-traded funds to consider, but these tips will make choosing them easier.

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What to Expect From a First Meeting With a Financial Planner

An appointment with a financial planner doesn't have to be scary. Here's what you need to know.

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How to Handle a Major Financial Disruption

Saving up in advance can help you weather the stress of temporary unemployment.

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Stewardship Investing: Why Should Companies Care?

A good steward skillfully manages a company's assets for the long term.


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8 Tips for Surviving the Stock Market's Record Drop

Shock waves on Wall Street are palpable following the free fall of China’s Shanghai Composite.

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5 Questions to Ask Yourself Before Starting Your Own Business

How to tell if you're ready to hang out your shingle.

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Last Chance: SMX East Rates Increase Saturday – Register Now!

Early Bird rates for SMX East expire this Saturday, August 29th. Register now! Join us September 29 – October 1 in New York City for: Innovative sessions covering the latest paid search and SEO developments. Check out the agenda. More than 100 expert speakers presenting real-world proven...

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8 Tips to Make Sure Your Next Apartment Is Legit

And you don't get scammed. 

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The 25% Rule For Reporting And Why It Matters

Are you spending too much time on reporting? Columnist Matt Umbro examines three techniques to help you improve your reporting efficiency.

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More over 60s don't want to give up work

Rachel Lacey

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While many people can't wait to give up the day job after 40 years of hard graft, new research has shown that more than one in 10 over 60s doesn't ever plan to stop.

While many people can't wait to give up the day job after 40 years of hard graft, new research has shown that more than one in 10 over 60s doesn't ever plan to stop.

More over 60s don't want to give up work

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While many people can't wait to give up the day job after 40 years of hard graft, new research has shown that more than one in 10 over 60s doesn't ever plan to stop. According to Retirement Advantage, 5% of over 50s and 11% of over 60s have no intention of retiring. While finances were a major concern for the over 50s at 41%, 20% said they were worried about a loss of social interaction while another 20% said they would be bored without work to fill their time. However, while this age group may still have the desire to work, they may not necessarily want to stay in the same job. Nearly half expect to work part-time while a further 22% wanted to take on voluntary work. Andrew Tully, pensions technical director at Retirement Advantage, said: "The research demonstrates the traditional idea of a cliff edge retirement at state pension age is well and truly in the past. What we're seeing instead is a phased approach, where retirees expect to continue to work in some capacity beyond traditional retirement age. "The high number of people hoping to move into unpaid voluntary roles highlights how important continuing to make a contribution is for many people, as well as their desire to avoid losing the social aspects of work." As a result, Tully said the pensions industry needed to evolve to help it meet the needs of retirees. He added: "Products and services need to allow retirees the flexibility to vary their income across their retirement as they need it. With many retirees considering easing into retirement by continuing to work in some capacity, the pension income they require on the first day of retirement will quite often be completely different to what they need 10 years later."

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Black Monday highlights risks for retired investors

Rachel Lacey

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Retired investors are being warned that taking capital out of their pensions during falling markets could cause irreparable damage to their financial security.

Retired investors are being warned that taking capital out of their pensions during falling markets could cause irreparable damage to their financial security.

Black Monday highlights risks for retired investors

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Retired investors are being warned that taking capital out of their pensions during falling markets could cause irreparable damage to their financial security. On Monday 24 August the FTSE 100 lost close to 5% as concerns over China's struggling economy led to one of the biggest global stockmarket sell-offs since Lehman Brothers collapsed in 2008. Experts reckon global markets lost a total of $1.6 trillion on that day. Danny Cox, head of financial planning at Hargreaves Lansdown, said: "Falling markets can have a significant impact on those drawing capital from their pension plans at retirement. If you draw capital when markets fall, you run an increased risk of rapidly eroding your pension and running out of money. You are locking in losses and can suffer irreparable damage." Navigate choppy markets However, Cox said it was important to appreciate the difference between drawing capital and investment income out of a pension. The former involves selling assets to fund the withdrawal while the latter only takes the gains made by your assets and your underlying capital remains intact. Advisers call this taking the 'natural yield' of your investment. He added: "Investors who stick to a strategy of taking the natural yield, or even no income at all, can better navigate choppy markets." Although market volatility can give retirees sleepless nights, Cox said there are plenty of steps savvy investors can take to protect their funds. In addition to limiting withdrawals, Cox said investors should also keep a sizeable chunk of their pension in cash. "Keep at least one year's income – preferably two –in your pension plan, which will serve as a useful buffer during extreme markets. Drawing cash is unaffected by market movements and this account can be topped up by income generated from investments – such as dividends from shares or yields from bonds." Ensuring you have a high level of diversification in your portfolio is also important. Cox said: "A diverse and balanced portfolio which has a mixture of different investment assets – cash, fixed interest and shares – is likely to be better protected during market falls and provide more consistent performance." Finally, if you have savings you can take advantage of tax relief on contributions and pay more money into your pension. This means an injection of £2,880 will be boosted by £720 tax relief, giving you a total contribution of £3,600 for a non-earner. Cox explained: "Add this into your pension pot when markets are lower and this will help the drawdown plan make up lost ground as markets pick up. If you have earnings, you can pay in more but remember those who are drawing income flexibly via drawdown effectively have their contributions to Sipps and other money purchase pensions capped at £10,000."

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Do You Really Need That? 8 Items to Sell for Extra Cash

I recently sold an awkward picnic backpack I received as a wedding gift five years ago.

I only made $11, but it got me thinking… what else could I sell for cold, hard cash?

Initially, I didn’t think I had anything worth selling. Then I realized I might as well open an eBay store for the amount of stuff lurking in my house and garage.

Here are eight items I’m thinking of selling. If you have any of these lying around your house, why not sell your stuff and enjoy a little extra money?

1. Wedding Gifts You’ll Never Use

In pre-marital bliss, you couldn’t imagine life without a trifle bowl and cake stand.

Now, 11 years into your marriage, you’ve never used the trifle bowl (what are they even for?) and you haven’t baked a cake in a decade.

It’s time to sell those babies and buy a slice of cake with the profits.

2. Clothes That Don’t Fit

Someday you’re going to fit in those size 6 pre-pregnancy jeans, you think. Or maybe you worry you’ll pack on 10 pounds this holiday season drinking a gallon of Aunt Hilda’s egg nog and have to bust out your biggest jeans.

But do you really need to save 14 pairs of jeans you can’t wear now? Keep one size up and one size down, if you must, and sell the rest.

3. Sports Equipment You Don’t Use Regularly

Someday you really will get back to golf, skiing or belly dancing. But for now those clubs, skis and cymbals are just sitting in your garage, waiting for their new owners.  

4. Furniture That Doesn’t Work in Your New Space

You moved to a new place and your beloved Papasan chair from college doesn’t fit the space or the décor. Neither does the bookshelf, end table or corner lamp.

Unless you plan to move again soon, it’s time to say goodbye to ill-fitting furniture.

5. Seasonal Items You Don’t Enjoy

One day, you’ll bust out that Zoot suit Halloween costume and it’s going to be epic.

One day, you’ll ditch the real tree and set up that fake white one that lives in the attic.

One day, maybe your kids will have kids and you’ll get to use those Easter baskets again.  

Unused seasonal items not only take up space but also cost you the cash that could be in your wallet. Sell them to someone who will put them to use.

6. Presents From Your Ex

You love that framed Beatles poster your ex-girlfriend gave you when you were 22, but now it doesn’t fit your wall — or your life.

Unless you plan to make that man cave a reality, it’s time to let go of lost love and sell that collectible on eBay. The same goes for jewelry, records and CDs.  

You broke up for a reason, right? Stop looking at reminders.

7. Redundant Appliances

Do you really need an oven, a toaster oven, a toaster and a microwave? How often do you really use that rice cooker and electric wok? Why own the George Foreman if you have a grill right outside your patio door?

Appliances are convenient, but often waste precious counter space while you rarely use them. It’s time to turn those babies into moolah.

8. Big Toys

You bought a camper because you couldn’t wait to hit the mountains every weekend. This summer, you went camping once.  

You had visions of riding that ATV with mud slinging behind the tires and your hair blowing in the wind. Instead, you stayed home and drank beer while having a Netflix marathon.  

Instead of paying for licenses, insurance and storage, rent big toys once or twice a year when you actually need them.

Once you’ve determined what you should sell, consider the best place to market your items.

• Facebook garage sale groups: If these are popular in your area, they’re a great way to sell a variety of items in different price ranges. One reader made more than $600!

• Craigslist: The site is a great option for those bigger ticket items, like furniture and big toys.

• eBay: The auction site is your go-to for collectable or hard-to-find items, especially those you can easily ship.

• Garage sale: This good, old-fashioned option is a quick and easy way to sell lots of items in a single weekend.

Your Turn: What other items would you add to this list?

Eva Daniel is a radio producer and lives with her husband, two boys and puppy in Colorado Springs. She has a passion for saving money and loves to scrimp on clothes by shopping at thrift stores so that she can splurge on overpriced lattes.

The post Do You Really Need That? 8 Items to Sell for Extra Cash appeared first on The Penny Hoarder.

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Bicycle store owners survive, thrive amid Web competition

Southwest Bikes co-owner Ted Jewell tells the story of a man who bought a bicycle from Wal-Mart that was still in the box, then called the Southwest Bikes retail shop and wanted a mechanic to assemble it for $20.

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Draft order would allow solar panel installation under current rates, rules

CARSON CITY — A member of the Nevada Public Utilities Commission on Tuesday filed a draft order in the net metering debate proposing to allow potential rooftop solar customers to install panels under the current rates and rules.

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Caesars' public perception takes one step forward, two steps back

Last week the casino operator, which made tremendous strides toward completing the complicated restructuring of its bankrupt operating unit, committed public relations suicide.

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Why happy people earn more money

It's generally assumed that greater wealth leads to happiness. But instead, the opposite might be true: Happiness leads to greater wealth, and several recent studies support this idea.

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