The Global Economic News

Can I Retire at 62 With $500k in a Roth IRA and $2,000 Monthly Income? Mark Henricks Wed, July 29, 2026 at 2:00 AM PDT 7 min read SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Figuring out when you can afford to retire often comes down to determining whether your assets will produce enough annual income to support your lifestyle and spending needs. With $500,000 in a Roth IRA and $2,000 in combined monthly Social Security and pension payments, you may be able to afford to retire at age 62. However, that will mean living on approximately $44,000 per year. Some retirees may be satisfied with this level of income, but it may not support you adequately if you plan to do a lot of traveling or live in a high-cost area. Before making the decision to stop working at 62, you'll also need to develop a plan for paying for health insurance since you won't be eligible for Medicare until age 65. If you need help deciding when to retire, ...

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Iran's Revolutionary Guard threatened further escalation on Thursday after a wave of retaliatory U.S. strikes on the country overnight. The Guard said on Thursday that it "will punish the aggressor today," adding that countries aiding the U.S. in the conflict would also "receive a harsh response," according to Iranian state media. It also said that it maintains "full control" of the Strait of Hormuz, and that "a stranger who has come from thousands of kilometres away will not be allowed to interfere." It comes after U.S. forces completed a "heavy wave" of strikes against Iran on Wednesday stateside, in retaliation against its missile attacks on American forces in the region. U.S. Central Command described the operation as a "powerful response" to Tuesday's attempted Iranian attacks on U.S. forces in the Middle East. The two-hour-long attacks saw the U.S. hit dozens of Guard targets across Iran, including military comm...

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A Quarter Of Canadians Now Own Crypto CryptoProwl Thu, July 30, 2026 at 6:49 AM PDT 1 min read BTC A Quarter Of Canadians Now Own Crypto One in four Canadians (25%) now own some form of cryptocurrency. A new survey by the Ontario Securities Commission has found that cryptocurrency adoption in Canada is rising. In its previous 2023 survey, the Ontario Securities Commission found that only 10% of Canadians owned Bitcoin (CRYPTO: $BTC) or another digital asset. More From Cryptoprowl: Ramp Network Brings Multichain Wallet and Rewards to EU MEXC Expands Ondo Tokenized Stock Offerings with AI Infrastructure and Mining Assets HSC Conference To Bridge Digital Assets And Institutional Finance In Ho Chi Minh City MEXC Integrates World-Check to Fortify Institutional Grade Compliance Architecture MEXC Ventures Supports Alpha Arena's APAC Debut at Coinfest Bali Additionally, the latest survey found that a majority of Canadians (59%) say they are aware of crypto assets. Among investors who work...

Jim Cramer says this post-earnings sell-off is a golden buying opportunity Mwangi Enos Wed, July 29, 2026 at 3:17 PM PDT 4 min read AXP Some stock drops look like bad news on the surface. Some are, yes, but some also tell a completely different story underneath. And I think American Express ( AXP ) investors have been handed the latter. The payments giant beat earnings expectations, raised its full-year revenue guidance, and reported its strongest card member spending growth in three years. The stock fell anyway. This kind of reaction can frustrate shareholders and even confuse casual observers. But for "Mad Money" host Jim Cramer, it's a pattern he's seen before, and one he thinks is creating a clear opening. I think it's a terrific opportunity in one of the best-run companies on earth. American Express CEO Steve Squeri echoed that confidence in the company's Q2 2026 earnings statement, noting: "Six months into the year, we're seeing stronger moment...

Egypt said Thursday that a drone hit two ships at its Mediterranean port of Damietta, as attacks on energy infrastructure widen across the Middle East. Cairo said an initial investigation found that a drone attack Wednesday caused a fire onboard the ships, according to the state owned Middle East News Agency . Nobody has claimed responsibility for the attack. The fires broke out on a regasification ship and a storage vessel, according to Egypt's Ministry of Petroleum and Mineral Resources . "The situation was immediately dealt with in accordance with the approved emergency and rapid response plans through the coordinated efforts of the competent authorities and the on-site firefighting and safety teams," the ministry said in a statement. The unclaimed attack comes as Iran, its Houthi allies in Yemen and Iraqi militias have widen strikes on energy infrastructure across the region. The U.S. launched a renewed wave of strikes against Iran on Wednesday, in retaliation for an...

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Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . Will the housing market crash in 2026? What the first half of the year tells us Michele Lerner E. Napoletano Contributor Hal Bundrick, CFP Senior Writer Tue, July 28, 2026 at 8:33 AM PDT 8 min read A housing market crash happens when home values plummet due to a lack of demand for or an oversupply of homes. The factors leading to a housing market crash are varied, ranging from economic recessions to high mortgage rates that make it less affordable to buy a home. A housing crash can have upsides (low home prices) and downsides (losing built-up equity and tighter finances). So, what's ahead for the housing market in 2026 ? Read more: Want to buy a house in 2026? Here's what you need to know. Is the housing market going to crash soon? Generally, experts don't foresee a housing market crash in 2026. If anything, ...

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . Understanding the Fed's rate decisions: Do we want high or low interest rates ? There are pros and cons to both scenarios. B Ben Luthi Tue, July 28, 2026 at 8:24 AM PDT 7 min read When the Federal Reserve changes interest rates, the impact reaches far beyond Wall Street. Higher rates can help savers earn more on their cash, while lower rates can make mortgages, car loans, and credit cards more affordable. But because every rate move creates both winners and losers, there's no simple answer to whether high or low rates are best. Understanding why the Fed raises and lowers rates and how those decisions affect your money can help you make smarter choices about saving and borrowing. Why does the Federal Reserve control interest rates? The Federal Reserve is mandated by Congress to promote stable prices and maximum em...

Rolls-Royce on Thursday hiked its full-year profit and cash flow guidance after strong earnings for the first half of the year, with the British engineering group benefiting from robust demand across its civil aerospace, defense and power systems businesses. The FTSE 100 company posted underlying operating profit of 2.5 billion ($3.3 billion) for the first six months of the year, up 46% from a year earlier, while revenue rose over 24% to 11.3 billion. Rolls-Royce said it now expects full-year underlying operating profit of between 4.7 billion and 4.9 billion, up from previous guidance for between 4 billion and 4.2 billion. It sees free cash flow of 3.8 billion to 4 billion, up from between 3.6 billion and 3.8 billion previously. Shares rose as much as 6% and were last trading up 3.6%. Rolls-Royce shares year-to-date The results underscore how Rolls-Royce is becoming a beneficiary of two of the biggest investment trends reshaping global markets: surging defense spending and the rapid e...

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . My spouse just died do I have to pay off their credit card debt? Senior woman using the laptop at home Yahoo Personal Finance Getty Images Kendall Little Senior Writer, Credit Cards Tue, July 28, 2026 at 11:41 AM PDT 4 min read Key takeaways In most cases, a deceased person's estate pays outstanding credit card debt before distributing any inheritance. You may be responsible for your spouse's credit card debt if you were a joint account holder or if you live in a community property state. If you're unsure whether you're liable for your spouse's debt, verify any debt collection claims and consider speaking with an attorney to understand your rights and obligations. What happens to credit card debt when someone dies? When someone passes away with outstanding debts, the estate typically pays those balanc...

The Strait of Hormuz is rattling global trade, but the waterway is just one example of a vital maritime corridor becoming a frontline, in a new age of drones and missiles targeting economic lifelines. From the Strait of Hormuz and the Red Sea to the Black Sea, attacks on commercial vessels have disrupted trade, raised insurance and freight costs, and forced shipping companies to reconsider routes once treated as dependable. The stakes are high: roughly 80% of global merchandise trade by volume moves by sea. Disrupting even one major route can delay cargo, tighten supplies and drive up prices for energy, food and consumer goods thousands of miles away. "We have a new chokepoint and a new war," David Roche, president and global strategist at Quantum Strategy, wrote in a July report, referring to the Sea of Azov , where Ukrainian drones have been striking Russian tankers, and the Black Sea. Roche described this fighting as the first maritime offensive conducted almost entirely ...

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What happens here has a big impact on your money To play this video you need to enable JavaScript in your browser. This video can not be played What happens here has a big impact on your money Close Read our quick guide to interest rates. Subsection Business Published 12 hours ago Share close panel Share page Copy link About sharing Related topics Money Follow Money close panel You are now following Money Updates from your News topics will appear in My News and in a collection on the News homepage . Bank of England Follow Bank of England close panel You are now following Bank of England Updates from your News topics will appear in My News and in a collection on the News homepage . Banking Follow Banking close panel You are now following Banking Updates from your News topics will appear in My News and in a collection on the News homepage . Personal finance Follow Personal finance close panel You are now following Personal finance Updates from your News topics will appear in My News and...

Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC's Daily Open. Tensions in the Middle East are on the rise again, resurfacing worries about a prolonged conflict after President Donald Trump threatened to give Iran a "beating." The Fed is witnessing a "fight" of its own, while investors flee Meta's stock after the company's disappointing guidance. Events overnight raised the specter of a lot of fighting. The Fed members apparently fought amongst themselves, Trump warned of "beating" Iran, and investors pummeled Meta stock. The U.S Federal Reserve held rates unchanged in its meeting at 3.5%-3.75%, although the split 9-3 decision meant that not everyone was on board with the decision. Fed Chairman Kevin Warsh described it as a "family fight," saying "I asked for a good family fight, and I got one. That's the purpose. That's the design feature." Warsh said that while the Fed won...

Tesla stock hasn't been this oversold in more than a year Brian Sozzi Executive Editor Tue, July 28, 2026 at 7:30 AM PDT 2 min read TSLA ^GSPC A brutal year for Tesla ( TSLA ) investors is getting even more brutal. Quick insight: The post-earnings slide in Tesla stock has made it the most oversold since March 2025, according to Yahoo Finance AlphaSpace data . Overbought and oversold levels for a stock are tracked by the relative strength index, or RSI (bottom red line in the chart below). The RSI is a momentum indicator that measures the speed and magnitude of a stock's recent price movements on a scale from 0 to 100. An RSI reading above 70 is generally viewed as a sign that a stock has risen too fast and could be due for a pullback. A reading below 30 suggests a stock may be oversold and could be poised for a rebound. Tesla's RSI currently stands at 14. Shares are down 30% this year compared to an 8% gain for the S&P 500 ( ^GSPC ). The why: The sell-off in Tesla has ...