Monday, September 19, 2011

What It Takes to Become a Millionaire

The idea of becoming a millionaire may seem like a pipe dream.
When it comes to retirement, most Americans doubt they've saved or invested enough to retire comfortably, let alone reach that million-dollar milestone. A new AP-CNBC poll finds nearly one-third (31 percent) of U.S. residents believe they would need a minimum savings of $100,000 to $500,000 if retiring this year in order to be confident of living comfortably in retirement, and 22 percent believe the minimum is $1 million or more to retire comfortably.

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Market Setting Up For Pre-Fed Meeting Rally And Post-Fed Meeting Decline
Financial markets have fully absorbed most of the hits that I have expected would come its way in September. For this reason, global equity markets may exhibit a positive technical bias in the context of a “relief rally” between now and the next Fed meeting on September 20-21. For this reason I expect to have closed out all bearish positions before the close today.

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The Looming Bear Market: What You Can do That Washington Can't and Wall Street Won't
I just finished a battery of media appearances on Fox Business, Bloomberg, BNN and CNBC Asia, and without exception I was asked about two things: President Barack Obama's jobs bill and the U.S. Federal Reserve's "QE3."

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What Wall Street doesn’t want us to know about oil prices
The top six financial institutions in this country own assets equal to more than 60 percent of our gross domestic product and possess enormous economic and political power. One of the great questions of our time is whether the American people, through Congress, will control the greed, recklessness and illegal behavior on Wall Street, or whether Wall Street will continue to wreak havoc on our economy and the lives of working families.

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