Page 25 - ARUBA TODAY

BUSINESS Tuesday 16 July 2019
A25

Millennial Money: Investing is well within your reach

By SEAN PYLES succeed at them. Also un-
NerdWallet derstand your timeline; any
News headlines might lead amount you'd need within
you to believe that millen- five years may be better
nials are striking out on a off in a high-yield savings
growing list of financial ac- account or CD. The rate
complishments: homeown- of return won't be as high,
ership, paying off student but you're protected from
loans — not to mention locking in a big loss if you
summoning the will to resist need to pull out of your in-
high-end coffee or avoca- vestment to get your mon-
do toast. ey when the market's in a
When it comes to investing, slump.
they might have a point. START WITH THE ESSENTIAL
Investment firm TD Ameri- INVESTMENT
trade surveyed 1,519 peo- "Probably the easiest place
ple ages 21-37 in 2018 and to start investing is through
found that only 50% said your employer retirement
they invest — including in plan," Welker says.
their retirement accounts. Take advantage of the de-
But, surprisingly, investing cades you have before re-
is likely one of the easier tirement. By investing 10%
financial goals to meet. In In this June 9, 2019, file photo museum goers walk through the Phillip and Patricia Frost Museum to 15% of your income into
just a few steps, millennials of Science in Miami. your retirement account
can set the stage for invest- Associated Press over many years, com-
ing, get their first investing pounding interest and mar-
accounts going, then look picture in shape, do that interest debts, like credit you have. Then you earn ket returns will likely gener-
to bigger investing goals. first," says Katrina Welker, a cards or a payday loan. more interest on that ate a sizable nest egg.
SET THE FOUNDATION New York-based certified Consolidating debt at a amount. With high-interest Here are two common re-
Before you think about financial planner. "Get your lower interest rate can debts, it's just the opposite. tirement account options:
jumping into the stock mar- budget under control and speed up payoff. Savings: Build up an emer- 401(k): Offered by many
ket or other forms of invest- a regular savings habit es- You want the power of gency fund to cover unex- employers, money is tak-
ing, make sure your finan- tablished." compounding interest to pected expenses so you en directly from your pay
cial foundation is sound. Get a handle on these work for you, not against don't have to withdraw and put into an account.
"Investing is great, but if you three factors before you you. When you invest, money from investments. Employers often offer to
have something else that start investing: you're earning interest Education: Research dif- match a portion of what
money could be doing to High-Interest Debt Pay- on the money you put in, ferent approaches to in- you contribute, which is
get your overall financial ments: Pay down high- which raises the amount vesting and how to best free money.q

Stocks edge lower as bank losses offset technology gains

By DAMIAN J. TROISE ports that it has ceased ne- track for an earnings drop
Associated Press gotiations with Symantec, of more than 3%, accord-
NEW YORK (AP) — Stocks a security software maker. ing to FactSet. That is far
edged lower in early trad- Apple also made solid sharper than the fractional
ing Monday on Wall Street gains. decline last quarter. Banks
as a decline in banks offset Boeing weighed down the including Citi and JPMor-
solid gains in technology industrial sector as the air- gan Chase are among
companies. plane maker faces the pos- the biggest companies to
The losses follow record sibility that its 737 Max prob- report this week. Several
high finishes for every major lems could keep the plane other major companies
stock index last week. The grounded into next year. will report results, including
S&P 500 index also pushed Investors are keeping a United Airlines, Netflix and
above 3,000 for the first close watch on several UnitedHealth Group.
time. economic indicators this KEEPING SCORE: The S&P
Citi led banks lower, de- week. Retail sales and in- 500 index was unchanged In this July 1, 2019, file photo trader James Riley works on the
spite reporting a jump in dustrial production data as of 10:05 a.m. Eastern floor of the New York Stock Exchange.
profit that beat Wall Street are expected Tuesday. time. The Dow Jones in- Associated Press
forecasts. It is the first of the Several reports that could dustrial average was also
major U.S. banks to report shed more light on the unchanged. The Nasdaq follows Circor's rejection of Gilead Sciences invested
second quarter financial housing market's health are composite rose slightly. Crane's $955 million offer. $5 billion in the biotechnol-
results. The sector is cur- also expected. Data this TAKE IT OR LEAVE IT: Circor DEAL OR NO DEAL?: Chip- ogy company. The com-
rently under the shadow of week could push the Fed- plunged 14.3% after indus- maker Broadcom rose 2% pany is still in its develop-
expected interest rate cuts eral Reserve closer to cut- trial products rival Crane and Symantec slumped ment stage and has no
by the Federal Reserve. The ting interest rates at its next threatened to end its hos- 12.9% after CNBC reported product on the market. Its
move would hurt their abil- meeting later in July. tile takeover bid. Crane that the companies ended most promising drug candi-
ity to charge more interest Wall Street is also preparing said it will cease pursuing negotiations over a pos- date is now in its final series
on loans. for a disappointing round Circor if the company fails sible deal. of studies aimed at treat-
Broadcom helped lift the of corporate earnings. to engage in discussions SLOW AND STEADY: Gala- ing arthritis and stomach
technology sector on re- S&P 500 companies are on this week. The ultimatum pagos surged 17.9% after conditions.q