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Remember the rule-of-thumb that “you need a million dollars to retire?” Because the education system fails to teach young adults the importance of finance, this rule is actually still referenced by some millennials today. However, if you’re between 20 and 40 years old but think a million bucks will support you in retirement, you’re going to be sorely disappointed. It’s reality check time. A bag of groceries that cost $100 in 1980 costs you $320 today. That’s the power of inflation, and it’s not going away anytime soon. As the cost of living…

Drug-makers, hospital managers and health insurers were all down big largely because of a warning issued by UnitedHealth CEO David Wichmann in an earnings conference call yesterday. The leader of the nation’s biggest health insurer suggested that the Medicare-for-all proposals being made by Democratic Presidential candidate Bernie Sanders and other Democrats could cause “wholesale disruption of American healthcare” and have “a severe impact on the economy and jobs.” Wichmann’s comments spooked investors. UnitedHealth’s stock and virtually every other healthcare stock fell dramatically in the last two days, as investors consider that…

Good earnings from J.P. Morgan, the country’s biggest bank, a new streaming service from media giant Walt Disney Co., and a big acquisition in the energy sector all lifted stock prices. The Dow index, the laggard of the three major indexes this year with a return of 13.2 percent, was up 1.03 percent, led by J.P Morgan and Disney. The S&P 500 and Nasdaq Composite indexes were up 0.66 percent and 0.46 percent respectively. The Entrepreneur Index™ closed the day with a gain of 0.19 percent. The announcement of a $33 billion…

After closing on April 8th, the U.S. Trade Representative proposed an $11 billion list of European goods, including commercial aircraft, dairy products and wine, on which to impose tariffs. The U.S. is considering the actions as retaliation for European subsides to Airbus and the aerospace sector. Separately, the International Monetary Fund lowered its estimate for global economic growth this year to 3.3 percent from 3.5 percent. The major stock indexes were all down sharply. The Dow and S&P 500 indexes fell 0.72 percent and 0.61 percent respectively, while the Nasdaq…