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Jill On Money: Summer Mail Bag — RMDs

Published Fri, 07 Feb 2025 16:31:51 GMT

It’s the last of the summer mail bag, and this week, I’m focusing on the ever-popular topic of Required Minimum Distributions (RMDs).Related ArticlesBusiness | What income do I need to afford a $700,000 house? Business | Flight delayed? Here’s the script I used to get compensation Business | 9 tactics for home buyers grappling with high mortgage rates Business | How to avoid the top text message scam putting your cash at risk Business | Is the Federal Reserve correct in considering additional rate hikes? As a reminder, the 2019 SECURE Act and its 2022 follow up, the Secure Act 2.0, changed the RMD ages from 70½ to 73 for individuals who turn 72 on or after January 1, 2023.Seventy-three remains the age until 2033, at which time the age rises to 75. (To estimate your future RMD amounts, I suggest using this handy calculator from the SEC: https://www.investor.gov/financial-tools-calculators/calculators/requ...

‘Don’t California my Montana’: Pandemic population boom in rural hotspots sparks resentment

Published Fri, 07 Feb 2025 16:31:51 GMT

By Nazmul Ahasan and Gregory Korte | BloombergRural America is booming, but the population growth that’s boosting local economies is also putting a strain on everything from schools to housing and roads.The influx — which started during the pandemic — has continued even as Covid restrictions have lifted. The latest government data released just last month points to a second year of increases in 2022 after years of declines.The trend is sparking resentment as house prices in the top 10 rural counties that have seen the biggest population increases surging more than 40% over the past three years. Schools are overloaded and the shift is even impacting farmland prices.“There’s a lot of resentment,” said Maggie Doherty, a writer and columnist who lives in Flathead County, Montana. “There’s bumper stickers that say ‘Montana’s full’ or ‘Don’t California my Montana.’”The number of people living in non-metro areas outgrew the urban population for the first time in three decades in 2021, and ...

California school district to pay $2.25 million to settle suit involving teacher who had student’s baby

Published Fri, 07 Feb 2025 16:31:51 GMT

The Redlands Unified School District has settled for $2.25 million its second sexual abuse lawsuit against former English teacher, soccer coach and convicted sex offender Laura Whitehurst.The settlement brings to $8.25 million the total amount paid out to Whitehurst’s victims since her 2013 arrest. In August 2016, the district agreed to pay $6 million to a former Citrus Valley High School student who impregnated Whitehust while he was a student.The latest lawsuit was filed in January 2021 by a former Redlands High School student, now 30, who alleged he was preyed upon and sexually abused at the school by Whitehurst in 2007 and 2008, according to the plaintiff’s Irvine attorney, Morgan Stewart.“On behalf of our very brave client, we are pleased to get to this resolution. It is unfortunate that Redlands Unified forced him to go through litigation despite knowing that they had failed to protect him from a serial pedophile,” Stewart said in an email Friday. “I would hope they have learn...

Disney agrees to $9.5 million settlement over Magic Key annual pass dispute

Published Fri, 07 Feb 2025 16:31:51 GMT

By Samantha Delouya | CNNThe Walt Disney Company agreed to pay $9.5 million to settle a class-action lawsuit that accused the entertainment giant of “deceptive business practices” in regard to its Disneyland annual pass program, according to a court filing Thursday.The federal lawsuit filed in California alleged that some of Disneyland’s “Magic Key” annual pass-holders were unable to make park reservations on certain days in 2021, despite being promised “no blockout dates” for entry at the Anaheim, California parks.The suit alleges that “thousands of people” with Magic Key passes may have been affected and were eligible to participate in the class action suit.The settlement will likely translate to a $67.41 check for each member of the class-action suit, according to the filing.A judge will now have to give preliminary approval to the agreed-upon settlement and will then assess the terms of the deal before giving a final sign-off, according to David Marcus, a professor of law at the...

Monday Morning Lights: San Ramon Valley’s ‘Drew Brees and the boys’ ready for McClymonds rematch

Published Fri, 07 Feb 2025 16:31:51 GMT

Welcome back to Monday Morning Lights, our weekly feature that sheds more light on the high school football weekend and peeks ahead to the new week. If you haven’t already, please subscribe. Your contributions keep us going.SRV VS. MCCLYMONDS, PART IIA year after McClymonds defeated San Ramon Valley in one of the thrillers of the 2022 season, it’s no secret that the Wolves are looking forward to the rematch. “They’ve had it circled on their calendar for a while,” SRV coach Aaron Becker told the Bay Area News Group on Sunday afternoon.McClymonds won last season’s barnburner in Oakland 45-42, but not before SRV quarterback Luke Baker erased a 21-point fourth-quarter deficit and put his team in position to kick the tying field goal. Longtime Mack coach Michael Peters watched the 5-foot-11 Baker shred his defense for 500 yards and five touchdowns, a performance that reminded him of another short but brilliant quarterback his son Marcus used to play against in the NFL.  “I call him...

Still wonder if Brock Purdy is for real? 49ers QB gives emphatic answer against Steelers

Published Fri, 07 Feb 2025 16:31:51 GMT

It was six months ago that 49ers quarterback Brock Purdy underwent UCL surgery on his right elbow.If you were of the belief that the injury and the unlikely nature of his rookie season would turn the Purdy story into a pumpkin in 2023, notice was served Sunday the best is yet to come.That’s how good Purdy was in a dominant 30-7 road win over the Pittsburgh Steelers. Rather than worry about whether Purdy is a product of a system and superior teammates, it’s an even arrangement.Yes, Purdy gets a lot of help from his supporting cast. But it’s also true he makes that supporting cast better.At this point, who else would you want at quarterback? Not Jimmy Garoppolo or Trey Lance. Not Sam Darnold, who took victory formation snaps at the end of a one-sided win. Not even Kirk Cousins, whose name came up again this week when The Athletic reported that Mike Shanahan said his son Kyle wanted to trade the No. 2 pick in the 2017 draft for a quarterback who has long been the appl...

4 teens, 1 adult rescued from strong rip current at Ocean Beach

Published Fri, 07 Feb 2025 16:31:51 GMT

(KRON) -- Five people, including four teenagers, were rescued Sunday afternoon after they were pulled out by a strong rip current, according to the San Francisco Fire Department. One rescuer paddled into the water and pulled two teenage girls back to shore after they began to drown underwater. Another rescuer pulled two teenage boys and an adult, who were also underwater, back to shore, SFFD said. Sailboat stuck at Stinson Beach must be removed today According to the fire department, the family did not require hospitalization. "Swimming is strongly discouraged at Ocean Beach due to the dangerous rip currents. Wading to your knees is allowed, but please use extreme caution, as people have been swept out to sea in 3 feet of water, disappearing in seconds," SFFD said.

Bay Area home prices could be falling: Here's why

Published Fri, 07 Feb 2025 16:31:51 GMT

(KRON) -- Due to fewer homes being listed for sale and a strengthening labor market, mortgage rates are still hovering near 20-year highs. However, economists say we may be heading toward a more balanced market.Senior Zillow Economist, Orphe Divounguy, details a trend that Zillow says is actually resulting in a growth in home values that has continued through the summer. The combination of high mortgage rates and low inventory across the country is keeping potential homebuyers off the market and sellers in their homes."Zillow research shows that 70 percent of homeowners and sellers end up buying again. And, so a lot of these homeowners are sitting on the sideline, enjoying near-record home equity and choosing not to move," said Divounguy.According to Divounguy, nationwide home values appreciated more than 1.5 percent through the summer, and he expects that number to grow to 6.5 percent by next July.In the Bay Area, Divounguy forecasts prices rising 2.5 percent."A recent Zillow surve...

Hostess is being acquired by JM Smucker in a deal valued at $5.6B after coming back from the brink

Published Fri, 07 Feb 2025 16:31:51 GMT

Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J.M. Smucker in a cash-and-stock deal worth about $5.6 billion. Smucker, which makes everything from coffee to peanut butter and jelly, will pay $34.25 per share in cash and stock, and it will also pick up approximately $900 million in net debt. Hostess Brands Inc. shareholders will receive $30 in cash and 0.03002 shares of The J.M. Smucker Co. stock for each share of stock that they own.“We believe this is the right partnership to accelerate growth and create meaningful value for consumers, customers and shareholders. Our companies share highly complementary go-to market strategies, and we are very similar in our core business principles and operations,” Hostess President and CEO Andy Callahan said in a prepared statement Monday. Twinkies went big when Hostess put them on shelves in 1930, and it followed up with a string of sweet concoctions like DingDongs, Zingers and Sno Balls. In an interview with The...

Stock market today: Wall Street rises to reverse some of last week’s losses

Published Fri, 07 Feb 2025 16:31:51 GMT

NEW YORK (AP) — U.S. stocks are ticking higher Monday as Wall Street recovers some of its losses from last week.The S&P 500 was 0.4% higher in early trading, coming off its first losing week in the last three. The Dow Jones Industrial Average was up 151 points, or 0.4%, at 34,728, as of 9:45 a.m. Eastern time, and the Nasdaq composite was 0.5% higher.Like last week, some big technology-oriented stocks were leading the way. Tesla jumped 6.2%, and Meta Platforms rose 2%. Tech stocks led the market lower last week as yields climbed in the bond market. Higher yields hurt all kinds of stocks, but high-growth stocks are among those that usually get hit the hardest. Yields rose last week after reports showed the U.S. economy remains more resilient than expected, which could be adding more fuel to pressures keeping inflation high.This upcoming week will offer a huge data point for the Federal Reserve, which is weighing whether to keep raising rates in its effort to get inflation back to...