RETIREMENT: America’s Millionaires

By Staff Reporters

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It seems many of America’s millionaires are saving for retirement. Thanks largely to a stock market, the number of 401(k) millionaires hit a new record last quarter—rising 2.5% to 497,000, as per Fidelity. It was the third quarter in a row of growth for retirement savings, Quartz reports, and the average amount in retirement accounts hit $127,100.

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But even those who have made it to the $1 million mark haven’t quite hit the figure most Americans think they need to retire comfortably. That’d be $1.46 million, according to the latest survey by Northwestern Mutual.

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ChatGPT: Considers Changing Corporate Structure

By Staff Reporters

SPONSOR: http://www.MarcinkoAssociates.com

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The Financial Times reports that the ChatGPT-maker is discussing changing its corporate structure, which currently has it governed by a nonprofit entity, to make it more attractive to investors as the company works to complete a funding round that values it at $100 billion.

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Apple, Nvidia, and Microsoft (which is already a big OpenAI backer) are said to be considering participating in the investment round.

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STOCK MARKETS: Summer Ends at Record High

By Staff Reporters

Sponsored By: http://www.MarcinkoAssociates.com

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Stock Markets celebrated Labor Day 2024 and the end of summer with the Dow Jones Industrial Average closing at another record high and the S&P 500 clinching its fourth straight winning month. The Fed’s favorite inflation gauge came in as expected, providing yet another sign pointing to a September interest rate cut.

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And Intel rose on reports that the beleaguered micro chip maker is considering various options, including breaking up the business, to overcome its slump.

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