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Yahoo
25 minutes ago
- Yahoo
The Impact Of 'Grey Divorce': 40% Of Americans Say Later-In-Life Splits Derailed Their Retirement Plans
This "grey divorce" trend has far-reaching implications, including impacts on retirement plans, a new survey by Allianz Life Insurance Company finds. Divorce rates among middle-aged and older Americans are on the rise, according to a 2022 academic study. The study, published in "The Journals of Gerontology," found that between 1970 and 2019, the "grey divorce" rate more than doubled among those 50 and up, from five divorcing persons per 1,000 to ten divorcing persons per 1,000. Don't Miss: Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can According to Allianz, 56% of married Americans say that a divorce would derail their retirement strategy. Millennials, in particular, are worried about the ways a divorce could impact their savings goals, with 63% saying it would affect their ability to retire. This is compared with 52% of Gen Xers who report that a grey divorce would impact their retirement plans, and just 35% of boomers. "No one wants to prepare for a divorce," Allianz Life Vice President of Consumer Insights Kelly LaVigne said in the report. "But divorce later in life – especially after retiring – is increasingly common. If you have been planning for retirement as a couple, then splitting up your assets to fund separate retirements can leave you short of achieving your retirement goals." Among those who have already gone through a divorce, 40% of Americans say it derailed their retirement plans entirely, and 34% say it set them back significantly. Trending: $100k+ in investable assets? – no cost, no obligation. "It may sound cold hearted, but it's important to consider how a divorce would affect your financial future," LaVigne says. "Those going through 'gray divorce' don't have the time to rebuild retirement savings on their own. Trying to fund two separate lives, instead of a joint one, can deplete retirement accounts faster than anticipated. They may need to delay their retirement to accumulate more savings and consider additional risk management strategies to ensure their funds can last their lifetime." One in three respondents told Allianz that they don't have a financial plan if they were to get divorced. This is creating a lot of worry, especially for millennials and Gen Xers. There is certainly some basis for that worry. About 54% of Americans say that they'd have substantially more financial responsibility if they were to get divorced than they do currently. How to split bills and financial obligations as a couple has long been a hot-button issue, and one that many people approach differently. Among already divorced respondents, 41% say they feel more stressed about their financial situation post-divorce, both as it relates to retirement and otherwise, than they did previously. Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." The average American couple has saved this much money for retirement —? Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article The Impact Of 'Grey Divorce': 40% Of Americans Say Later-In-Life Splits Derailed Their Retirement Plans originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28 minutes ago
- Yahoo
A first date or a power move? Basketball columnist says McKee's meeting raises questions
Was this just an introductory meeting? The business equivalent of a first date? Perhaps an attempt to gain some leverage while negotiating elsewhere? All we have is speculation following a reported Friday rendezvous between Gov. Dan McKee and an unnamed potential investor in the Connecticut Sun, the WNBA team that currently plays its home games at Mohegan Sun Arena. McKee and the investor reportedly toured Amica Mutual Pavilion, a potential new home for the franchise should the Mohegan Tribe decide to sell its controlling stake. ESPN reported in May the team was exploring its financial options, including taking on potential limited partners. Was this a little public flirting with Providence to spur some action at home? The Sun are one of few remaining teams in the league without a dedicated practice facility, using their home arena for both training and games. XL Center in Hartford is set to undergo a $100 million renovation, a possible in-state option if ownership — current or new — would like to leave the casino grounds but stay nearby. The Mohegan Tribe bought the team for $10 million in 2003 and moved it from Orlando to its home for the last 22 years. The logic at the time was obvious — a new arena that needed an anchor tenant and a market that boasted one of the most passionate women's college basketball followings in the nation. The University of Connecticut just won its 12th national championship under coach Geno Auriemma and has sent dozens of players on to the professional ranks. The WNBA is big business now That was a different WNBA than the one that tipped off this spring. Nielsen reported a 201% spike in viewership from 2023 to 2024. That climb is now at 791% since the start of 2017. Sportico estimated the Sun's value at $80 million last year, a significant growth from the last time ownership changed hands. This is a league with major crossover appeal at the moment, and that starts with the college game. Name, image and rights legislation implemented by the NCAA has allowed players to both get paid and reach wider audiences than ever before. Caitlin Clark had major brand deals with Nike, Gatorade and State Farm in hand before she graduated from Iowa and became the No. 1 pick in the 2024 draft. Clark, Angel Reese and Paige Bueckers are the three most followed players in the league on Instagram, and they all arrived within the last two years. Cameron Brink and Hailey Van Lith are both in the top 10 and have played less than two seasons. Juju Watkins, the standout guard at Southern California, will be next. WNBA schedule lines up with Providence's downtown The current WNBA schedule runs from May to September, a pocket that coincides with several dates typically available downtown. The Providence Bruins open their regular season in October and finish in April — only an extended run in the Calder Cup playoffs would create any overlap. The Providence College men's basketball team plays its home games between November and March, heading off to the Big East Tournament about two months before the women would take center stage. Is recruiting the team worth it? It's worthwhile for McKee or any other state official to explore such an opportunity. Men's college basketball has meant big business downtown since the former Providence Civic Center opened in the 1970s, including a return of the NCAA Tournament in March. Bars, restaurants and hotels were jammed over a four-day weekend that featured visits from big programs like Kansas, St. John's, Arkansas, Clemson and Purdue. Could a professional women's team capture some summer attention here? The possibility is certainly generating some discussion. Where it goes from here is anybody's best guess. bkoch@ On X: @BillKoch25 This article originally appeared on The Providence Journal: McKee's WNBA meeting wasn't just optics — it was opportunity | OPINION
Yahoo
28 minutes ago
- Yahoo
Moderna sharpens focus on $1.5bn cost cutting plan after 41% revenue slump
Just one day after CEO Stéphane Bancel's sudden announcement of a 10% workforce reduction, Moderna has released Q2 2025 that that fell short of analyst expectations. Revenue declined 41% to $142m, largely due to to a drop in Covid vaccine sales, particularly Spikevax and mRESVIA, the company said. The results also weighed on the mRNA vaccine specialist's share price, which dropped by 8.9% to $26.92 per share. In an investor call, Moderna's CFO Jamey Mock blamed the revenue decline on uncertainties in vaccination rates, the competitive market environment and the size of the respiratory syncytial virus (RSV) market. This latest results follow years of poor financial performance for Moderna, which has posted substantial losses since the 2022 financial year – with revenue falling from more than $19bn in 2022 to $3.2bn in 2024. In an investor call, Moderna's Mock stated that 'advancing its pipeline' of Phase III assets and 'driving use of its commercial products' would be key to future recovery. Moderna intensifies cost-cutting efforts To offset this quarter's losses, Moderna is implementing a series of operational cost reduction strategies, aligned with both Mock and Bancel's commitment to stay 'highly focused on financial discipline". During the call, Bancel outlined a $1.5bn, 3 year cost-cutting plan, primarily focused on 'winding down' new R&D efforts – with a specific focus on respiratory health. Savings will be sought through procurement optimisation, enhanced manufacturing and a staff restructuring initiative, announced internally and through Moderna's website on 31 July. Although Moderna plans to cut more than 800 jobs, recruitment will continue, with the CEO noting that over 150 vacancies remain open. Bancel did not provide further details on who will be affected by the upcoming job cuts. Many pharma companies are citing Trump's tariffs as a key influence on their cost of sales. Mock stated that 'newly introduced tariffs are not expected to have a material impact on our cost of sales,' despite the manufacture of Moderna's portfolio being spilt amongst Europe and the US. This follows the signing of the US-EU deal, which imposes 15% tariffs on all pharmaceutical imports. Looking ahead Upon review of Moderna's Q2 2025 results, infectious disease analyst at GlobalData Anaelle Tannen noted that financial performance was slightly better than expected, and classified the results as 'unsurprising". 'Sales will likely increase in the second half of the year as the RSV, flu and Covid seasons hit the northern hemisphere,' said Tannen. Although mRNA is Moderna's bread and butter, Tannen stated that remaining solely in this area is risky until multiple high-value products reach the market. 'Moderna is at the cutting edge of mRNA technology, but the commercialisation gap is stark. There is a heavy emphasis on R&D, but profitability is low as few mRNA vaccines have made it to market yet, while the modality also faces scepticism due the expedition of Covid vaccine trials.' Asked whether diversifying away from mRNAs may benefit Moderna long-term, Tannen noted: 'Exploring other modalities wouldn't necessarily help the company either, as it would still take time to perform clinical trials and for products to attain approval.' Meanwhile, outside of Moderna, the mRNA therapy market is experiencing rapid growth, with a report from GlobalData, parent company of Pharmaceutical Technology, finding that licensing agreement deal values involving mRNA soared by 800% between 2019 and 2024. Growth of mRNA vaccines is also showing robust growth, with GlobalData analysis estimating that sales will increase from $20.1bn in 2024 to $89.8bn in 2030, at a CAGR of 28.3%. "Moderna sharpens focus on $1.5bn cost cutting plan after 41% revenue slump" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
