Savings Archives - Zxcoachoutlet

Will individuals see the savings from insurance pandemic relief? Not quite

October 14, 2020

Health insurance companies are offering their corporate customers rebates to offset premium costs and reflect lower medical spending as patients avoid doctors’ offices, routine procedures and elective surgeries during the coronavirus pandemic.

a person sitting at a desk: ACA Health Experts call center expert, Cynthia Hernandez helps Tiffany Wright get health insurance at the Ahmed and Roshan Virani Children's Clinic, Monday,Nov. 14, 2016 in Houston. It’s likely that 2021 health insurance premiums will remain around the same prices as 2020, experts said.

© Karen Warren, Staff Photographer / Houston Chronicle

ACA Health Experts call center expert, Cynthia Hernandez helps Tiffany Wright get health insurance at the Ahmed and Roshan Virani Children’s Clinic, Monday,Nov. 14, 2016 in Houston. It’s likely that 2021 health insurance premiums will remain around the same prices as 2020, experts said.

It’s unclear how big an impact the rebates, in the form of credits, might have on the premiums companies pay and contributions their employees make. Premiums vary from company to company and, depending on the circumstances, the rebates could lower premiums, keep them from rising or at least limit increases.

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Companies, meanwhile, will decide whether to adjust employee contributions to health insurance premiums based

How do I maximize my savings right now?

October 12, 2020

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Emily Pandise has covered business, tech and media for NBC News since 2017. In her early 20s, she realized she had no idea how to manage her money, so she set out to change her financial habits and learned a lot along the way. Now, she wants to help others do the same with this column, “Ask a Finance Whiz.” You can find her on Twitter and Instagram at @emilypandise.

Have a question for Emily? Email us at [email protected]

Hi Emily,

Here’s a big Q I have — how am I supposed to maximize my savings these days? Interest rates are low, market is volatile, we’re in an economic recession, pending election makes any investment risky, the list goes on. I hate to have my savings sitting in a traditional savings account without any growth, but it feels like now is not the time to move money.

Would love to

2 reasons I’m keeping my high-yield savings account despite rate drops

October 5, 2020

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Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

Since the start of 2020, interest rates have fallen dramatically, but high-yield savings accounts are still very useful.
High-yield savings accounts pay well above the average interest rate and are insured by the US government.
I’m keeping my emergency fund and other savings in a high-yield savings account indefinitely.
See Business Insider’s picks for the best high-yield savings accounts »

High-yield savings accounts don’t pay the same high yields they did a year ago, but they’re still an ideal way to save for many people. I have used high-yield savings accounts since starting my first job after college, and a swing in interest rates isn’t going to scare me away.

Bank of Thailand Launches World’s First Government Savings Bond on IBM Blockchain Technology

October 5, 2020

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$1.6B USD in government savings bonds were successfully sold within a week of launch

BANGKOK, Thailand, Oct. 5, 2020 /PRNewswire/ — SIBOS — IBM (NYSE: IBM) today announced that Bank of Thailand (BOT), the central bank, has successfully launched the world’s first blockchain-based platform for government savings bonds issuing a total of $1.6B USD within two weeks.

IBM Corporation logo. (PRNewsfoto/IBM)

Leveraging blockchain technology on the highly secured IBM Cloud, the platform allows investors to benefit from speedy bond issuance, reducing a process that previously took 15 days to two days. The efficiency provided by blockchain also reduces operational complexity and the overall cost of issuing bonds.

According to The Thai Bond Market Association, the outstanding Thai bond market stood at $421B USD as of December 2019. Government bonds dominate the Thai market, with outstanding value of $157B USD in 2019 ¹, accounting for 37% of the

Weak Employment Data, Savings Out Of Bullets

October 4, 2020

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Unemployment claims from April through Sept 12 — Total All Unemployment Claims

Universal Value Advisors

Personal income fell -2.7% in August. Still, consumer spending rose 1.0% M/M. What Gives?

The economy is still very much an employment story. While the official U3 unemployment rate fell to 7.9% from 8.4%, the underlying data was, simply put, “ugly!”

“Excess” Savings

Last week, I discussed the theory that the “excess” savings from the stimulus packages (one-time stimulus checks and the now expired supplemental $600/week in unemployment benefits) would carry the economy through Q4. No Way!

Fall in savings explains the increase in consumer spending. — Buildup of Excess Savings

St. Louis Federal Reserve Bank

The pre-virus savings level was $1.2 trillion. The CARES Act stimulus ballooned savings to $6.40 trillion in April (everything was closed; nothing to spend it on except toilet paper, bottled water, and some frozen entrees). Then the re-openings began. In May, savings fell by -$1.9 trillion. In June, by -$1.0 trillion. Then it levelled off. July was

Savings provider Ascensus prepares for mid-2021 IPO – sources

October 2, 2020

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By David French and Greg Roumeliotis

NEW YORK, Oct 2 (Reuters) – The private equity owners of Ascensus have hired investment banks for an initial public offering (IPO) of the savings services provider that could value it at around $3 billion including debt, three people familiar with the matter said on Friday.

Majority-owned by Genstar Capital and Aquiline Capital Partners, the buyout firms selected Barclays Plc BARC.L and Goldman Sachs Group Inc GS.N to prepare Ascensus for the stock market listing that will take place in mid-2021, subject to market conditions, the sources said.

Genstar, Aquiline and the banks declined to comment. Ascensus did not respond to a request for comment. The sources spoke on condition of anonymity as the information is private.

Based in ‎Dresher, Pennsylvania, Ascensus partners with financial institutions, governments and companies to service a raft of savings plans, including for retirement, 529 college funds and

Personal Income And Savings Fall As Government Supports Fade

October 2, 2020

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By Robert Hughes

Personal income fell 2.7 percent in August, according to data from the Bureau of Economic Analysis. Personal income data over the past six months have been sharply distorted by lockdown policies which caused massive layoffs, and government stimulus programs that sent transfer payments skyrocketing. As those payments fade, measures of personal income and components are returning to trend.

Disposable personal income fell 3.2 percent after a 0.3 percent increase in July. The personal savings rate fell in August, coming in at 14.1 percent of disposable income following rates down from 17.7 percent in July and a peak of 33.6 percent in April (see first chart).

The drop in personal income consisted, in part, of a 1.3 percent increase in wages and salaries. Wages and salaries, which typically account for about half of personal income, rose as some employees went back to work after lockdown policies were eased.

You have ample savings. So why are you scared of running out of money?

September 29, 2020

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All of us have a history with money. We grow up with too little or too much — or fall under the sway of parents or others who influence our attitude about saving and spending. As we age, money often becomes an indicator of our emotional well-being.

It’s fine to think about money frequently, enjoying its benefits and squeezing value from it. But it’s not healthy to fret about it constantly and let the “I-don’t-have-enough” worry eat away at you. Even some rich people express irrational fear of going penniless. In an honest moment, a financial adviser will admit that chronic worrywarts are high-maintenance clients. They require more hand-holding. What’s worse, they may not listen to reason.

A little empathy goes a long way. Rather than dread these clients, savvy advisers ask gentle questions in an effort to uncover deeper concerns, motivations and memories.

“I wouldn’t say the fear of

The “Excess Savings” Hypothesis Vs. Economic Deceleration

September 28, 2020

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Data of personal savings, taken from St. Louis Federal Reserve Bank — Build Up of Excess Savings (SAAR, $Billion)

Universal Value Advisors

There is some speculation that because only a little more than half of the buildup in savings from the stimulus checks and enhanced unemployment benefits was spent through July, Q4 economic activity will continue to show recovery as the “savings” continues to be spent. Call this the “Excess Savings” Hypothesis. Unfortunately, the incoming data makes this appear to be little more than “hope.”

The weekly state and PUA unemployment data continue to show a lull in the recovery, as Initial Claims (ICs) remain in the stratosphere, and the main reason that the “Excess Savings” Hypothesis appears to be a long-shot.

The Hypothesis

Ellen Zentner and her economics team at Morgan Stanley (MS) have quantified the buildup of savings and its partial drawdown in Q2 and Q3 (through July – see the chart). They hypothesize that a continuation of the drawdown

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