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After a Disappointing 2022, America’s 401(k) Millionaires Rebound

Published Fri, 07 Feb 2025 20:53:10 GMT

Prakash Kolli | Wealth of GeeksWhile the number of 401(k) millionaires fell by a significant 33% in 2022, 2023 is definitely looking more promising, with reports suggesting a 26% increase in the millionaire population.As one might expect, this exclusive group of savers owns retirement accounts with balances over $1 million. The types of accounts include 401(k)s, 403(b)s, and IRAs. Per the latest data from Fidelity Investments, the mutual fund and brokerage giant, the number of millionaires climbed almost 26% after the first half of 2023.The comeback of American 401(k) millionaires is encouraging for all workers. It shows that successful saving for retirement requires patience. To quote John Bogle, the father of index funds and founder of Vanguard, “The winning formula for success in investing is owning the entire stock market through an index fund and then doing nothing. Just stay the course.”2022 Was Rough for Retirement SaversStock markets performed poorly in 2022, although the ma...

Here’s the latest on dietary cholesterol and how it fits in with a healthy diet

Published Fri, 07 Feb 2025 20:53:10 GMT

Michael Merschel, American Heart Association NewsFor more than half a century, scientists have debated the role of dietary cholesterol in a healthy diet. Because it was often associated with saturated fat, limiting dietary cholesterol – especially by restricting egg consumption – seemed to benefit heart-health efforts.More recently, accumulating data has caused researchers to broaden their thinking about how dietary cholesterol – and eggs – fit into a healthy eating pattern. “We’ve advanced considerably,” said professor Linda Van Horn, chief of the nutrition division in the department of preventive medicine at Northwestern University’s Feinberg School of Medicine in Chicago. “And we proceed on these issues as we learn more.”Change can be confusing. So here are answers to a few common questions.Are dietary cholesterol and blood cholesterol the same thing?No. Dietary cholesterol is found in food. Blood cholesterol – whi...

Dracut High football season in jeopardy

Published Fri, 07 Feb 2025 20:53:10 GMT

DRACUT — After a dizzying day which included a statement from administration, a spirited rally and then a false report, the future of the Dracut High football program remained in jeopardy entering Friday.Parents of players huddled Thursday night on campus in an effort to save the program.But the rally was squelched an hour later when unconfirmed reports surfaced that the school had reportedly already pulled the plug on the program due to dangerously low numbers.The reports were not true. Prior to practice, according to sophomore quarterback Ryan Cole, athletic director Paula Chausse addressed the team.“She said she was going to make a decision in 24 hours,” Cole said Thursday night. “Everyone on the team is wanting to play. We all want to play. We’re all so dedicated to the team and the coaching staff.”Efforts to reach Chausse and varsity football coach Jermaine McKenzie for comment were unsuccessful.An emotionally-charged rally was held in front of the school, which featured over 1...

Police investigate altercation between bus driver and students

Published Fri, 07 Feb 2025 20:53:10 GMT

ESCONDIDO, Calif. -- The Escondido Police Department is investigating an incident involving a bus driver and three San Pasqual High School students.Authorities say three 14-year-old girls boarded a North County Transit District bus near the high school around 4:20 p.m. Tuesday. The students were reported to have been causing a disturbance on the bus that prompted the 64-year-old driver to turn off the vehicle and call his supervisor, police explained. Man run over by delivery truck in Miramar dies Before authorities were called, EPD says the teens allegedly causing the disturbance attempted to exit the bus, but the driver stood in the doorway. At that time, an altercation between the driver and at least two of the students occurred.According to EPD, the bus driver eventually moved. However, as the female students exited the bus, the driver allegedly pushed one of the students and another altercation began. Police say the two students began punching the driver and then knocked him...

New local bike park offers downhill riding for thrill seekers

Published Fri, 07 Feb 2025 20:53:10 GMT

SAN DIEGO -- Mountain bikers have a chance to ride new trails starting this weekend on the La Jolla Native American Reservation.The new Luiseño Bike Park features twists, turns and 13 miles of fun.Steve Ford spearheaded the project, and when he rides the trails at Luiseño Bike Park, he can't help but feel pure joy."You feel like a kid again every time you ride down it,” Ford said. “I love this, I love the sport and the people involved."A project years in the making finally opens to the public Labor Day weekend with six downhill trails - each about 1 ½ miles long."I've been trying to do the bike park thing in Southern California for 15 years,” Ford said. “I've had some stops and starts and turns, but all of them have led me here. We haven't had a lift-access bike park in San Diego ever."The Escondido native works side-by-side with his son Trevor at the bike park based on the La Jolla Campground - about 50 miles northeast of San Diego.The shuttle riders 1...

Stock market today: Wall Street opens higher following signal that labor market is cooling

Published Fri, 07 Feb 2025 20:53:10 GMT

NEW YORK (AP) — Stocks are opening higher on Wall Street after a closely watched report showed that the job market, while still healthy, has been showing some signs of cooling. That’s leading markets to hope that the Federal Reserve can soon ease up on its campaign to slow down the economy by raising interest rates. The S&P 500 was up 0.4% in the early going. The index is coming off its first monthly loss since February. The Dow rose 144 points, or 0.4%, and the Nasdaq composite was up 0.2%. The yield on the two-year Treasury note eased back to 4.81%. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street followed global markets higher Friday with strong U.S. jobs data boosting shares. Futures for the Dow and S&P 500 each rose about 0.4% before the bell.US employers added a solid 187,000 jobs in August, showing how resilient the U.S. labor market is despite an extended campaign by the U.S. Federal Reserve to cool hiring and inflation. The strong job mar...

After Maui’s wildfires, thousands brace for long process of restoring safe water service

Published Fri, 07 Feb 2025 20:53:10 GMT

Maggie T. Sutrov showered, drank treated tap water and watered her garden before she learned that she shouldn’t be using the water in her home on Maui after wildfires devastated the island. Concerned about others making the same mistake, she quickly created a flier on water contamination from guidance she’d found on the county’s website and worked with a pop-up community center to get the word out.“Every day, people were showing up there going ‘What, I can’t drink the water? I didn’t know that,’” Sutrov said. Three weeks after the fire, Sutrov and others are anxious to know when the island’s water will be safe.“When is this over?” Sutrov wondered.So far, tests have found no concerning levels of contaminants in the drinking water. But extensive testing is still needed, with access to most of Lahaina slowed by hazardous conditions and the search for human remains.Some areas under the unsafe water advisory could be cleared to use their tap water in a coupl...

NASA spacecraft around moon spots likely crash site of Russia’s lost lunar lander

Published Fri, 07 Feb 2025 20:53:10 GMT

CAPE CANAVERAL, Fla. (AP) — A NASA spacecraft around the moon has found the likely crash site of Russia’s lost lunar lander. The Luna 25 lander slammed into the moon last month, a harsh end to Russia’s first moon mission in almost half a century. Based on observations by its Lunar Reconnaissance Orbiter, NASA said Thursday that it appears the impact created a crater 33 feet (10 meters) across. This fresh crater is about 250 miles (400 kilometers) short of the spacecraft’s intended landing site at the lunar south pole, and farther north. NASA’s spacecraft found no evidence of a crater in this spot in pictures taken during a flyover last year.It’s located on the steep inner rim of an ancient and considerably larger crater.Since the newfound crater is close to where scientists believe Russia’s lunar lander crashed, “it is likely to be from that mission, rather than a natural impactor,” NASA said in a statement.Meanwhile, India’s rover is exploring the moon’s sou...

El Mocambo continues live music legacy in Toronto’s Kensington-Chinatown

Published Fri, 07 Feb 2025 20:53:10 GMT

When it comes to institutions in Toronto’s Kensington-Chinatown neighbourhood, the El Mocambo is one of the few that can garner emotional reactions among people across the city.Located on Spadina Avenue, the El Mocambo has been operated at the same spot for 75 years and in recent decades there have been standing room-only concerts with huge names stopping by every so often.The iconic location had a humble beginning in the late-1940s. It started off by focusing on fine dining food with Mexican influences, ballroom dancing and music. After being sold a couple of times and thanks to a new music booker, the live-venue started hosting artists such as Ronnie Hawkins and Buddy Guy.However, the establishment catapulted to notoriety in 1977 thanks to an opening act under the pseudonym of The Cockroaches during an April Wine concert.“Concert-goers lost their mind when The Cockroaches turned out to be the Rolling Stones so our goal is that the Rolling Stones will come back here aft...

Biden wants an extra $4 billion for disaster relief, bringing the total request to $16 billion

Published Fri, 07 Feb 2025 20:53:10 GMT

WASHINGTON (AP) — The White House will seek an additional $4 billion to address natural disasters as part of its supplemental funding request, bringing the total to $16 billion — a sign that wildfires, flooding and hurricanes that have intensified during a period of climate change are imposing ever higher costs on U.S. taxpayers.The Biden administration had initially requested $12 billion in extra funding for the Federal Emergency Management Agency’s disaster relief fund, which helps with rescue and relief efforts. But a spokesperson in the Office of Management and Budget, Shelby Wagenseller, said that the fires in Hawaii and Louisiana as well as flooding in Vermont and Hurricane Idalia striking Florida and other Southeastern states mean that a total of $16 billion is needed.As recently as Tuesday, FEMA Administrator Deanne Criswell had stressed that $12 billion would be enough to meet the agency’s needs through the end of the fiscal year this month.Criswell told reporte...