Latest news with #JeffBezos-backed
Business Insider
04-07-2025
- Automotive
- Business Insider
Slate Auto ditches 'under $20,000' price tag for its pickup EV after Trump's 'Big Beautiful Bill' passes
Slate's plan to sell its no-frills electric pickup for under $20,000 appears to have hit a speed bump. The Jeff Bezos-backed EV startup previously said its modular Slate truck was expected to start at under $20,000 after federal incentives, but has now changed its website to say the electric truck will be priced in the "mid-twenties." Slate's website featured the "under $20,000" expected price as recently as Wednesday, according to Internet Archive screenshots viewed by Business Insider. TechCrunch first reported the change. It comes as the US House of Representatives passed a final version of President Donald Trump's "Big Beautiful Bill," which is expected to kill the $7,500 tax credit for new US-built electric cars from September. When it unveiled the utilitarian truck in April, Slate said it would cost $25,000. However, the company had been banking on federal incentives, such as the $7,500 discount, to push the price of its first EV under the $20,000 mark. The company did not respond to a request for comment from BI, sent outside normal working hours. A lack of affordable options has hampered EV adoption in the US, and Slate Auto's CEO previously told BI the company aimed to help fill that gap. The startup made a big splash with its first vehicle, with the back-to-basics pickup truck amassing 100,000 refundable reservations in its first three weeks on sale. Although the base version of the truck, which is set to be built in Indiana with deliveries beginning in 2026, will lack frills such as screens, radios, or power windows, Slate says it will be heavily customizable. Buyers will be able to buy over 100 accessories, ranging from personalized wraps to an "SUV kit" that transforms the Slate truck into a five-person people carrier. The average price of an EV in the US is already almost $10,000 more expensive than its combustion-engine equivalent, and experts have warned that the scrapping of the $7,500 tax credit will make electric cars even more unaffordable. A report by Harvard University's Salata Institute in March found that removing the tax credit would result in a 15% hit to expected EV sales by 2030, and 20 million metric tons extra of CO2 emissions over the same time period.
Yahoo
26-06-2025
- Business
- Yahoo
10x Returns Lost: Redditors Reveal Which Stocks They Sold Way Too Early
Investing in stocks isn't easy. You have to stay on top of multiple companies and predict how the future will unfold. While investors confidently hold on to stocks during bullish cycles, many of these same investors fold during bearish markets. Many Redditors discussed stocks they sold too early in a recent post that is gaining momentum. Some Redditors lost out on massive, life-changing returns just by exiting reliable companies during corrections. "If I waited a year, I would be 10x," one Redditor stated when talking about buying Nvidia (NASDAQ:NVDA) in 2020 and selling at breakeven in 2022. Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. One investor regretted selling Tesla (NASDAQ:TSLA) shares eight years ago. Another investor sympathized and said they also sold Tesla eight years ago, citing 10% daily swings as the main reason for exiting. Tesla was one of the biggest winners during the pandemic and has gone up by more than 1,000% over the past eight years. While some posts contained nothing more than people talking about their losses, this one contains a valuable lesson. If you invest in a company for the long run, you have to endure volatility. Sharp price swings are especially common for growth stocks that have tremendous long-term potential. Ignore the price swings and consider where the company will be in the next decade. Another Redditor mentioned that they owned 1,000 shares of Netflix (NASDAQ:NFLX) about 18 years ago. Netflix doesn't receive as much attention since the FAANG acronym is out of style, but it's still a top-performing stock, especially for early investors. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. Netflix shares have gained anywhere from 30,000% to 50,000% since 2007, depending on when investors bought their shares. That's a massive gain to lose out on, but 2007 was right before the Great Recession, so it was common for people to exit the markets frantically. One commenter offered an interesting perspective on Netflix stock that highlights how some investors were thinking at the time. "There were a lot of experts over the years, especially in the beginning, saying how other media companies were going to make [Netflix] irrelevant or basically put them out of business." Those concerns were unfounded, and it goes to show that some people forecast the absolute worst-case scenario. These overblown narratives may have caused some investors to abandon ship, especially during the Great Recession. Some people posted impressive gains in the comments section that don't feel so good knowing how the assets performed in the long run. One investor bought a bunch of Bitcoin at $0.50 apiece and sold them for $250 to buy a house. It's the type of gain you rarely get, but it still feels like the Redditor missed out on a great opportunity with Bitcoin now above $100,000 a coin. Another Redditor thought they did well when they bought Advanced Micro Devices (NASDAQ:AMD) shares for $2-$3 dollars and sold at $9.50. It's a 3x profit, but AMD stock now goes for more than $100 per share. It's easy to beat yourself up about missing out on 10x returns, but most investors should love a 3x return. While it makes for entertaining content, dwelling on missed opportunities isn't the right approach for building long-term wealth. You can learn from your mistakes and commit to long-term investments instead of selling amid volatility. See Next: $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. 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 10x Returns Lost: Redditors Reveal Which Stocks They Sold Way Too Early originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
26-06-2025
- Business
- Yahoo
Can You Guess What an Upper-Class Retiree's Monthly Income Looks Like? Here's What the Wealthy Are Actually Living On
There's no shortage of financial advice telling you how much you should save for retirement. But what does retirement actually look like when you're in the upper class? When you've built real wealth and stopped working — what does that monthly income actually add up to? For most affluent retirees, the answer lands somewhere between $7,000 and $20,000 per month. That's not just a guess — it's based on how much wealthier households withdraw from investments, plus any additional income they may bring in from rentals or pensions. Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Pew Research defines upper income as earning at least twice the national median household income. For working households, that bar sits around $149,000 a year, or roughly $12,400 per month. But retirees aren't working 9 to 5 — their income often comes from a mix of withdrawals, rental income, and other passive streams. So a more realistic benchmark is based on retiree households specifically. According to the U.S. Census, the median income for households age 65 and older is about $50,290 per year, or $4,190 per month. Using Pew's same logic, that would put the upper-class retiree threshold around $100,580 per year, or $8,380 per month. As of 2025, the maximum monthly Social Security benefit for someone who waits until age 70 is $5,108, according to the Social Security Administration. While few retirees receive the absolute max, upper-income earners who delay claiming often see checks in the $3,500 to $4,200 per month range. It's a meaningful stream of income—but for upper-class retirees, it's typically just one piece of a larger financial plan. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. If a retiree has a $1 million nest egg and follows the classic 4% rule, they're withdrawing about $40,000 per year — or $3,333 per month. But many upper-class retirees have more than that. With $2 million saved, the withdrawal climbs to around $6,667 per month. Of course, the 4% rule doesn't account for taxes, inflation, or personal spending habits. Many retirees with large portfolios adjust their strategy to pull slightly more or less, depending on market performance and life expectancy. Affluent retirees don't just rely on retirement accounts. Some hold rental properties that bring in steady cash flow. Others have dividends, annuities, or part-time income. These extra streams can add another $1,000 to $3,500 or more each month. And unlike fixed-income retirees, the upper class often has flexibility — they're not just living off what they saved, they're continuing to generate income. According to the Bureau of Labor Statistics, the average household age 65 and up spends about $57,818 annually — or roughly $4,818 a month. But that's just average. Wealthier retirees often spend far more, not because they're extravagant, but because their lifestyle includes property taxes, travel, healthcare, and legacy planning. And to comfortably cover those costs — while preserving their lifestyle — many upper-income retirees maintain a monthly income in the $7,000 to $10,000 range, with some bringing in $15,000 to $20,000 or more. For anyone aiming to join that upper tier, it's a wake-up call: the retirement goal isn't just about hitting a number — it's about building an income plan that holds up month after month. See Next: $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Can You Guess What an Upper-Class Retiree's Monthly Income Looks Like? Here's What the Wealthy Are Actually Living On 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
11-06-2025
- Business
- Yahoo
'Market Crashing Before Our Eyes': Buyers Are Backing Out Of Deals In Record Numbers Amid Relentlessly High Interest Rates
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Power up the flux capacitor, climb aboard your DeLorean and prepare to travel back to 2008 because recent headlines concerning a real estate market crash seem very familiar. The main differences between today's imploding market and that of 17 years ago were that in '08, bad mortgages and over-inflated house prices were the issue. Today, high interest rates, soaring insurance costs, economic fears, and stubborn inflation are the primary problems. The results, however, are pretty similar — much of the U.S. is becoming a buyer's market, according to a recent report by Redfin (NASDAQ:RDFN). Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – The numbers are shocking. In April, 56,000 home purchase contracts were canceled — just over 14% of all pending transactions, Redfin reports. Not since the early days of the pandemic have so many deals failed to get to the finish line. 'We see a lot of deals collapsing, especially in major markets like Las Vegas and Phoenix,' Joel Efosa, the CEO of Fire Cash Buyer, told the Daily Mail.' It's especially first-time buyers. Some are losing their jobs, others simply no longer qualify for loans because they don't make enough or have good credit.' He noted: 'Realtors are asking sellers to accept the truth — the market is crashing before our eyes.' Prices have fallen year-over-year from April to the same time last year in 20 major metro areas, Zillow's Home Value Index shows. Most of the declines have occurred in Sunbelt states, such as Arizona, Texas, Florida, and Louisiana, which have followed a similar pattern to 2008. Trending: This Jeff Bezos-backed startup will allow you to . However, Zillow reports that the Northeast has yet to tip into a buyer's market, where sellers still have the upper hand in cities like Buffalo, New York; Boston; Hartford, Connecticut; and Providence, Rhode Island. In these markets, there are at least 10 engaged home shoppers for every listed home. The ongoing discussion of tariffs and increasing concerns about higher prices for food, furniture, construction, cars, and more are keeping potential buyers on the sidelines. 'They're hearing the words' tariffs' and 'recession,' and it's making them nervous that if they buy now, the value of their home will decline, and they don't know whether mortgage rates will go up or down,' Desiree Bourgeois, a Redfin realtor in Detroit told the Daily Mail, 'There's a lot of uncertainty out there, with buyers trying to understand how their purchase would fit into their personal finances and the broader economic puzzle.'Florida has proven to be a bellwether state for the housing market. In 2008, the oversupply of homes, many of which were purchased by unqualified buyers with subprime mortgages, led to massive foreclosures. Now, a halt to inbound migration, coupled with extreme weather and soaring costs associated with insurance and homeowners' fees, has led to an abundance of homes sitting on the market. Current listings in Miami-Dade County, which includes one of the most expensive metro markets in Florida and the country, rose by over 42 percent in the first week of June compared top the same time last year, according to The MIAMI Association of Realtors. 'If these buildings are subject to reserve requirements, buyers want to make sure they're getting into a situation where the condos have their act together,' Brad O'Connor, chief economist at trade group Florida Realtors, told The Wall Street Journal. 'Whether it's the lenders or the buyers themselves, we've seen a slowdown in condo demands.' Read Next: With Point, you can , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Image: Shutterstock This article 'Market Crashing Before Our Eyes': Buyers Are Backing Out Of Deals In Record Numbers Amid Relentlessly High Interest Rates originally appeared on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
07-06-2025
- Business
- Yahoo
Sellers Beware: New Data Suggests Home Prices Have Hit a Brick Wall
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Home prices set records again in March, but the S&P CoreLogic Case-Shiller's U.S. National Home Price Index and other recent data suggest buyers are putting on the brakes in key regions, with early signs of a housing downturn. Meanwhile, Bankrate reported Florida Gold Coast is getting hit especially hard, while the post-pandemic pullback from Austin, Texas is picking up steam. Signs are growing other regions will follow but who knows how low prices can go before attracting today's young buyers. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Invest Where It Hurts — And Help Millions Heal: Case-Shiller reported that annual home-price growth nationwide rose by 3.4% in March, lower than February's 3.9% and January's 4.8%. Just-released Redfin data offers several reasons why the bullish housing tide may be turning. According to Redfin, nearly $700 billion worth of unsold housing inventory is sitting on U.S. real estate listings, 20.3% higher than a year earlier, and an all-time high. It stood at $309 billion in January 2022. Homes listed for 60 or more days comprise nearly half of this backlog. It's also taking longer for sellers to find buyers, up five days year-over-year to 40 days in April. At the same time, housing supply has reached a five-year high. Not surprisingly, Redfin agents report that, in much of the country, "would-be buyers are backing off due to record-high monthly housing costs and widespread economic instability." Monthly housing payments rose to a record $2,882 during the four weeks ended May 18. Sellers will be forced to lower their asking prices if this stalemate continues, potentially recharging the rapidly slowing pace of home sales. However, this may have a snowball effect, further lowering property values across vulnerable regions, and potentially nationwide. It can also have a major impact on the national economy, as homeowners recalculate personal wealth, perhaps negatively impacting consumer consumption. Trending: This Jeff Bezos-backed startup will allow you to . "Stale inventory" refers to unsold homes listed for 60 days or more. This category hit an all-time high at $372 billion in November and dropped to $331 billion in April. Sounds like improvement but May was the natural peak of the selling season and stale inventory may be ticking higher once again. Redfin has taken note and, along with other data points, now forecasts a 1% drop in home prices by year's end. Of course, regional variations may be much wider. Summing up, home prices are still rising but red flags are growing, with nearly 500,000 more home sellers than buyers in the June housing market. "A huge pop of listings hit the market at the start of spring, and there weren't enough buyers to go around," says Redfin agent Matt Purdy. "House hunters are only buying if they absolutely have to, and even serious buyers are backing out of contracts more than they used to." More importantly for those considering home ownership, the slowly turning tide could soon accelerate into a full-blown buyer's market, according to Purdy. "Buyers have a window to get a deal; there's still a surplus of inventory on the market, with sellers facing reality and willing to negotiate prices down", he said. Read Next: With Point, you can Maximize saving for your retirement and cut down on taxes: . Image: Shutterstock This article Sellers Beware: New Data Suggests Home Prices Have Hit a Brick Wall originally appeared on 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
