Can You Retire on Only $1,374 Per Month?

According to its most recently published snapshot, the average Social Security recipient gets about $1,519 per month in benefits from the program. From that amount, recipients aged 65 or older generally see at least $144.60 deducted for Medicare Part B premiums. That leaves around $1,374 per month for most retirees who depend on Social Security for their retirement.

That raises a huge question: Is that enough to cover your costs of living? Can you really retire on only $1,374 per month? If you’re relying only on Social Security for your retirement, that’s what you may very well find yourself with. That’s a key reason you need to build a retirement plan that provides you with more than what Social Security will be able to offer you.

worried senior looking at a pile of bills

Image source: Getty Images.

Why are average benefits so low?

If you’re still earning a salary and check out your personalized Social Security statement

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Taycan electrifies Porsche’s European, American deliveries

Stuttgart-based marque Porsche announced that its premier all-electric offering, the Taycan, has become their best-selling model in Europe in August and one of their key sales drivers in the US in the third quadrant of 2020.

Based on the UK-based auto industry intelligence supplier JATO Dynamics, as cited by Car Industry Analysis, Porsche rolled out 1,183 units of the Taycan. This comprises 23.4 percent of the carmaker’s 5,046-unit total sales in Europe in August.

Aside from that, the same data showed that Taycan was also among the region’s best-selling models in its segment during the same month.

Meanwhile, the Cayenne and the Cayenne Coupe delivered 771 and 554 units respectively for Europe.

The Cayenne sales and the 646 vehicle sales for the Macan is tantamount to the Porsche SUV models accounting for 39 percent of the brand’s total performance during the said period. 

porsche taycan
porsche taycan

The legendary 911 continues

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Warburg Pincus to invest $95MN (INR 700 CR) in Home First – One of India’s leading affordable housing finance companies

MUMBAI, India, Oct. 8, 2020 /PRNewswire/ — US based private equity firm Warburg Pincus LLC (“Warburg Pincus”), through it’s affiliate Orange Clove Investments BV, has entered into an agreement to invest about $95 MN (INR 700 Cr) in Home First Finance Company India Ltd (“Home First”) on October 2, 2020. The announcement came in today from the leading global private equity firm focused on growth investing. The investment of approximately INR 700 crore is a combination of primary fund raise and secondary sales by existing shareholders. Warburg Pincus joins existing marquee PE firm shareholders True North and Bessemer Venture Partners.

Home First is a technology driven, affordable housing finance company providing home loans to customers from low- and middle-income segments, who are building or buying their first homes. Over the last 10 years, Home First has sanctioned home loans across India to more than 50,000 customers in 60

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GM China Quarterly Sales Rise for First Time in 2 Years

General Motors (NYSE:GM) announced today that its Chinese sales rose 12% for the quarter ended in September versus the year-ago period. The gain follows a 5% drop in the second quarter, and marks the first year-over-year gain for sales in China in two years. 

The company said it delivered 771,400 vehicles in China, including its joint-venture partnerships. GM said it sees strong momentum in the vehicle sales market as China’s economy recovers from the COVID-19 pandemic. 


GM's cadillac SUV lineup

Cadillac XT4, XT5, and XT6 SUVs. Image source: General Motors.

The company said the strength in sales has been led by its luxury vehicles, sport utility vehicles (SUVs), and multipurpose vehicles such as the Buick GL8 minivan family. 

The strongest growth came with a 28% rise in the Cadillac XT4, XT5, and XT6 SUVs. The Buick brand also rose a strong 26%. Its Buick Envision SUV sales rose by 48%, the company

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Auto Experience, Inc. Proposes To Acquire Auto Finance Firm Consumer Portfolio Services For $135 Million In Cash

DALLAS, Oct. 8, 2020 /PRNewswire/ — Auto Experience, Inc., created in 2018 to pursue strategic business opportunities in the automobile financing market, today announced it has informed the board of directors of Consumer Portfolio Services, Inc. (Nasdaq: CPSS) of its interest in acquiring the company in an all-cash transaction valued at $135 million.  An acquisition at that price would nearly double the current value of the Nasdaq-listed company.

Based in Irvine, Calif., Consumer Portfolio Services (CPS) is an independent specialty finance company that provides indirect automobile financing to consumers.  In an October 7, 2020 letter to the company formally conveying an “indication of interest,” Auto Experience said it proposes to acquire CPS for approximately $6.18 per share of common stock.  CPS shares closed at $3.35 on October 7, 2020.

In its letter to CPS, Auto Experience said it would add value to the company and its

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Twilio to Acquire Customer-Data Firm for $3.2 Billion

Twilio Inc.

TWLO -4.28%

agreed to acquire a software provider that focuses on helping businesses track and manage customer data, a $3.2 billion deal that comes as companies rethink how they reach consumers who are spending more time at home during the Covid-19 pandemic.

Twilio struck an all-stock deal for Segment, which offers products that allow companies to glean data about shoppers from websites, mobile apps and email, as well as when they communicate with customer support, and from various software programs.

“What Segment allows companies to do is take all the data that’s in these disparate systems and assemble them together into one view of the customer. Once you have that one view, then you can use it to power more effective communications,” Twilio Chief Executive Jeff Lawson said in an interview.

Like many other software companies that sell to other businesses, San Francisco-based Twilio isn’t widely known among

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Deterring capital flight can help finance African development priorities

From 2000 to 2015, roughly $836 billion in capital left the African continent, according to a recent report by the United Nations Conference on Trade and Development (UNCTAD). This so-called “capital flight” occurs along legal pathways like remittances and other transfers or via illegal means like money laundering or misinvoicing. Capital flight is particularly prolific in Africa, so much so that it has rendered the continent a net creditor to the world. At the same time, money leaving the continent decreases the taxable revenue collected by the home country and makes it more difficult for the private sector to meet its financing needs. Curtailing this capital flight in its many forms could open up resources for spending on human development priorities like education and health.

Figure 1. Capital flight and revenue loss from tax avoidance by African region

Figure 1. Capital flight and revenue loss from tax avoidance by African region

Source: UNCTAD (2020), “Tackling Illicit Financial Flows for Sustainable Development in Africa”

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National Insurance Crime Bureau Joins Forces with the AARP Fraud Watch Network to Combat Insurance Crime

DES PLAINES, Ill., Oct. 7, 2020 /PRNewswire/ — The National Insurance Crime Bureau (NICB), the insurance industry’s association dedicated to predicting, preventing, and prosecuting insurance crime, and the AARP Fraud Watch Network are joining forces to combat insurance crime.

In a recent meeting, NICB President and CEO David Glawe and Director of AARP Fraud Watch Network Kathy Stokes discussed the need for a strong, collaborative relationship between the two organizations. Ultimately, it is the goal of both NICB and the AARP Fraud Watch Network to help protect people, and in particular the 50+ from insurance scams and fraud.

“We are working proactively to identify vulnerabilities and leverage opportunities to work with organizations like the AARP Fraud Watch Network,” said NICB’s President and CEO David Glawe. “We believe that by bolstering our intelligence and analysis capabilities and sharing information with our partners, we will be able to make significant

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Polish E-Commerce Company Allegro Lights up Europe’s IPO Market | Technology News

By Anna Banacka and Anna Koper

WARSAW/GDANSK, Poland (Reuters) – Shares in Polish e-commerce group Allegro leapt more than 60% on their debut on Monday, giving the company a market value of almost $19 billion in Europe’s biggest initial public offering (IPO) so far this year.

Founded more than 20 years ago as a home-grown rival to eBay, Allegro is central Europe’s most recognised e-commerce brand and its website is attracting 20 million visitors a month as consumers go online during the COVID-19 pandemic.

Allegro’s strong start mirrored the performance of some recent IPOs in the United States where shares have shot up as investors showed they were willing to pay for companies with potential for growth.

Last month, British e-commerce firm The Hut Group made the biggest debut on the London Stock Exchange in seven years and Allegro’s successful launch was a further sign the European IPO market is

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Alberta finance minister accuses nurses’ union of trying to ‘take advantage of a health crisis’

Finance Minister Travis Toews issued a blistering news release on Thursday afternoon, accusing an Alberta nurses union of orchestrating an “overreaching and disingenuous demand for indefinite job security” that he described as “a shameful effort to take advantage of a health crisis.”

a man wearing a suit and tie: Alberta Finance Minister Travis Toews, who delivered his first-quarter economic update Thursday, Aug. 27, 2020.

© Courtesy: Government of Alberta
Alberta Finance Minister Travis Toews, who delivered his first-quarter economic update Thursday, Aug. 27, 2020.

Toews issued the statement after the United Nurses of Alberta, which represents more than 30,000 registered nurses, registered psychiatric nurses and “allied workers,” announced it had rejected Alberta Health Services’ proposal to delay collective bargaining until 2021.

“I am extremely disappointed that the union leadership of the United Nurses of Alberta has rejected stability during a pandemic,” Toews’ statement reads in part. “AHS offered job security during the pandemic in exchange for a pause in negotiations until March 31, 2021.

“It is regrettable that UNA’s union leadership has

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