The IRS released the official statement on the website on Saturday, March 21st.

Do you know what this means for individual retirement account plan contributors? The deadline will also be extended!

Typically, taxpayers can make contributions to their individual retirement accounts from January 1st through the tax filing deadline of the following year. For 2019, you could have started making contributions on January 1st, 2019. The deadline to make contributions would have been on April 15th, 2020 – the date that 2019 taxes are due.

Because of the tax filing extension, you have three additional months to max out your individual retirement account if you haven’t done so already.

Individual Retirement Accounts fall into two buckets: Traditional and Roth. You can contribute to a traditional or Roth IRA account or both.

Your 2019 combined contribution amount to your individual retirement accounts can not exceed $6,000 if you are under the age of 50. For those over 50, there is a $1,000 catch-up contribution that allows you to contribute $7,000 towards your individual retirement account goals for 2019.

When determining if you should contribute to a Traditional or Roth IRA, please consider the following:

• IRA eligibility based on your income
• Required minimum distributions
• Early withdrawal rules
• Tax benefits

Do you want to learn how to earn income in your retirement account? Grab your copy of “Dividends Are a Queen’s Best Friend” available on Amazon. You’ll get a female-friendly, step-by-step guide on how to get a recurring stream of income.

The best thing you can do for your future is to educate yourself NOW. Don’t put your financial future in the hands of someone else without knowing how it works.

If you want to discuss your retirement options, send us an email at wealthywomendaily@gmail.com to schedule a financial coaching session.

The Dow Jones Industrial Average experienced it’s worst one-day point drop in history on Thursday, February 27, 2020, when it plunged 1191 points.

This was worse than the loss that occurred during the Great Recession (December 2007 – June 2009) when the Dow fell 777.68 points on September 29, 2008, after Congress failed to pass a $700 billion bank bailout plan.

You’re probably wondering what’s the best move to make in this period of uncertainty and financial chaos. Be financially woke!

Here are four things you can do right now to prepare you for what’s ahead.

BUILD YOUR EMERGENCY FUND

If you were cheating on your emergency fund before, this is the perfect time to build a serious relationship and commit. During times of uncertainty, you never know what you will need and when you will need it. Protect yourself by having a comfortable cash cushion on hand that can sustain you through tough economic periods. When you sign up for ibotta using this link, you’ll qualify for a bonus and get cashback for featured items listed in the app. Save those dollars!

LEARN HOW TO INVEST 

Now is the perfect time to find out how to make your money work for you! You never know if your job will be here tomorrow so you’re taking a big risk if you’re depending on one source of income to provide your every need. Learning how to invest gives you options and a recurring stream of income that flows into your account while you sleep. Grab your copy of Dividends Are a Queen’s Best Friend to learn how to earn income from your investments and get dividends at a discount!

OPEN A NEW BROKERAGE ACCOUNT

Don’t put all your money into one account. If a malfunction occurs with that brokerage account, your funds will be frozen and you won’t be able to take action. Have a back-up plan. You can open an account like WeBull that will give you two free stocks when you make your first deposit! Learn more about WeBull here and claim your free stocks here.

SAVE MONEY ON FOOD

Everyone’s in the grocery store trying to stock up on food. But why spend all your money on food when you can get free gift cards just from scanning your grocery receipts? When you download the Fetch Rewards app using this link, you’ll receive 2,000 points when you scan your grocery receipts. The more receipts you scan, the more points you earn. 

While you’re watching your finances, don’t forget to wash your hands. If you can’t find any hand sanitizer in stores or online, here’s a great recipe you can use to make your own.

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On January 22nd, 2018, the first Amazon Go store opened to the public at 2131 7th Ave. in Seattle. Amazon Go stores facilitate Amazon’s mission to end grocery store check out lines. Founded in 2016, Amazon Go is a chain of stores that are expanding to meet the needs of busy consumers who are looking for a convenient, automated grocery option. At this store, you can find groceries, meal kits, prepared foods, and liquor available for purchase.

Wait. There’s more.

After Amazon announced the acquisition of online pharmacy Pillpack and Delivery Service Partners business for entrepreneurs in June 2018, a second Amazon Go location was opened in Downtown Seattle at the Madison Center on August 27th.

Do you think that’s enough cashier-less stores in one city within one year? Think again.

The third Amazon Go store opened at the Troy Block complex in South Lake Union in September 2018, becoming the largest Amazon Go location in Seattle.

Now Amazon Go expands to the Windy City!

The first Amazon Go store in Chicago debuted on September 17, 2018, at 113 S. Franklin Street. Less than a month later, a second Amazon Go location opened in Chicago on October 8th. Sources reported that a third store is coming soon at 500 W. Madison.

Have you visited an Amazon Go location yet? Do you invest in Amazon? Let us know your thoughts below!

Do you want to invest in companies that empower women?

Thanks to a partnership between YWCA and Impact Shares, you can now use your dollars to advance gender equality and economic opportunities for women. All you have to do is invest in the new Women’s Empowerment ETF.

Dorri McWhorter, CEO of YWCA Metropolitan Chicago, shared the news on her twitter feed last December.

Thx @ImpactETFs @RockefellerFdn for #vision & opportunity as @YWCAChicago partnering to create #WomensEmpowerment #ETF $WOMN coming soon! https://t.co/Lrf7aID5wg

— Dorri McWhorter (@chicCPA) December 8, 2017

Impact Shares Corp.’s Women’s Empowerment ETF, ticker WOMN, is expected to start trading Monday, August 27th on the New York Stock Exchange. The launch date was strategically aligned with Women’s Equality Day which will take place on Sunday, August 26th. Sunday also marks the 98-year anniversary of the passage of the 19th amendment that gave female citizens the right to vote in the United States.

This ETF will hold stocks of companies that support women and addresses an issue that YWCA is passionate about. The Underlying Index of stocks will be based on social criteria developed by the nonprofit to help fund managers measure corporate performance against a list of social impact benchmarks relevant to the Fund. Companies in the Underlying Index of Stocks will be measured in various categories which include gender balance in leadership, equal compensation, and policies promoting gender equality.

“WOMN, a collaboration with index provider Equileap, offers an investment solution that will look for companies that are leaders in empowering women both in and out of the workplace,” said Dorri McWhorter, CEO of YWCA Metropolitan Chicago in a statement released by the NAACP. “We hope female and male investors alike seize the opportunity to encourage companies to more proactively address the issues impacting women today.”

About YWCA USA

Founded in 1858 as a voice for women’s issues, YWCA USA represents 213 YWCA associations in 46 States and the District of Columbia. Each year YWCAs serves over 2 million women and children in over 1200 communities across the United States. For over 160 years YWCA has delivered social impact through its many direct services and community-based programs. YWCA USA is dedicated to eliminating racism, empowering women and promoting peace, freedom and dignity for all.

Best Time in History for Women to Invest

This is the best in history for women to learn how to invest. The markets are volatile, mergers and acquisitions are frequent, and political friction is increasing uncertainty. It’s the best time for women to dive in and explore the markets because we’re not looking at a straight investment path. You have to think more strategically in this environment. And when you can learn how to navigate a period of turbulence, you unlock another level of possibilities that you can tap into as an investor.

If you are just starting your investment journey, join The Wealthy Woman Investor to gain the foundational skills and market insights you need to build your first investment portfolio.

For more market and investing insights delivered to your inbox, subscribe to Wealthy Women Weekly for FREE.

Ethereum Classic is the fifth coin that has been added to Coinbase. Crypto investors can also buy, sell, receive, and store Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on Coinbase.

As 5pm PT, Coinbase Consumer now supports Ethereum Classic (ETC) across its products, including https://t.co/bCG11KveHS and the mobile app. https://t.co/VokLVW6kRf pic.twitter.com/ciJWxr1p9d

— Coinbase (@coinbase) August 17, 2018

So what is Ethereum Classic? According to the official website, ETC is “smarter blockchain, it is a network, a community, and a cryptocurrency that takes digital assets further. In addition to allowing people to send value to each other, ETC allows for complex contracts that operate autonomously and cannot be modified or censored.”

Sounds complex? Well, the ETC website compares ETC to the most popular crypto asset in the world -Bitcoin.

“Imagine Bitcoin as a landline phone—it does one thing very well. ETC is like a smartphone—it can do everything Bitcoin can and much more.”

Ready to learn more about cryptocurrency? Join Wealthy Women Weekly for more insights and courses!

On Thursday, August 2, 2018, Apple made history by becoming the first publicly-traded U.S. company to reach a market valuation of $1 trillion.

Congrats Tim Cook! Apple won the trillion-dollar race!

It all happened when Apple’s stock crossed $207.05 per share at 11:48 ET. Although the stock price has fluctuated since that time, it’s still exciting to see the company reach 52-week highs after an impressive earnings call on Tuesday, July 31st.

A Stellar Quarter for Apple

Tim Cook, CEO of Apple, announced best June quarter revenue and earnings ever due to the strong performance of iPhone services and wearables. The company generated $53.3 billion in revenue for the three months ended on June 30th. iPhone grew faster than the global smartphone market. The app store generated nearly twice the revenue of Google Play. In addition to this, Apple is expanding geographic coverage to multiple countries.

For a more in-depth analysis of the earnings calls and financial statements, subscribe to The Wealthy Woman Investor.

Who’s Next?

Wallstreet is on the edge of their seats trying to determine which company will be the next to be inducted into the trillion dollar club.

The next candidate in line is Amazon (Nasdaq: AMZN). On Thursday, June 28th, Amazon took a deeper plunge into the healthcare industry by acquiring online pharmacy PillPack. Amazon also unveiled their Delivery Service Partners program that gives entrepreneurs the chance to operate their own local delivery service with as little as $10,000. The market capitalization is only decimals away from $900 billion.

Alphabet and Microsoft aren’t too far away. Some analysts believe that Microsoft won’t hit the trillion dollar mark until another 12 months of activity passes us.

Best Time in History for Women to Invest

This is the best in history for women to learn how to invest. The markets are volatile, mergers and acquisitions are frequent, and political friction is increasing uncertainty. It’s the best time for women to dive in and explore the markets because we’re not looking at a straight investment path. You have to think more strategically in this environment. And when you can learn how to navigate a period of turbulence, you unlock another level of possibilities that you can tap into as an investor.

If you are just starting your investment journey, join The Wealthy Woman Investor to gain the foundational skills and market insights you need to build your first investment portfolio.

If you want to explore an elite group of companies that have provided consecutive dividend increases for over 30 years, join Dividend Queens to gain access to exclusive data and research.

For more market and investing insights delivered to your inbox, subscribe to Wealthy Women Weekly for FREE.

Disclaimer: Wealthy Women Daily is solely educational and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision. It is your responsibility to talk to an expert to understand how specific investments will impact you during tax time. 

That’s one of the many decisions that 21st Century Fox will have to make as the company plans to sell its’ entertainment assets.

In December 2017, the internet started racing when media sources reported that Walt Disney would proceed with a $52.4 billion, all stock deal to acquire 20th Century Fox and other assets. This acquisition would give Disney more control over media content and channel distribution. This would include the following:

• FX Networks
• National Geographic
• 22 regional sports networks
• Additional 30% stake in Hulu
• 50% share of Endermol Shine Group
• Star India Satellite service
• Fox’s overseas interest in media and telecommunications company Sky

There is no doubt about it. Disney’s acquisition of Fox’s entertainment assets is a really big deal.

As of May 2018, this big deal could turn into a big battle.

Comcast recently announced its’ plan to win over the assets of Fox with a $60B cash deal. This deal is dependent on the results of AT&T’s acquisition of Time Warner.

If Comcast wins the bid war, the company would have a majority stake in Hulu. Currently, Hulu is a joint venture with The Walt Disney Company (30%), 21st Century Fox (30%), Comcast (30%), and Time Warner (10%).

How do you think the Fox deal will end? Would you sell your assets to Comcast or Disney? As a company and an individual, you should consider the tax implications of receiving cash over stock.

Photo Credit: ComicBook.com 

Do you want more market updates and wealth tips delivered to your inbox? Sign up for Wealthy Women Weekly.

Disclaimer: Wealthy Women Daily is solely educational and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision. It is your responsibility to talk to an expert to understand how specific investments will impact you during tax time. 

After Amazon’s $13.7 billion acquisition of Whole Foods Market in August 2017, other retailers are rethinking their market strategy. And for good reason. Amazon is dominating the grocery industry and is eyeing more industries for its’ mass expansion. With over $700 billion market capitalization, Amazon is valued higher than Walmart, Target, and Kroger combined.

That’s why other companies are doing whatever it takes to hang on to the market share that is still left – even exploring the possibility of teaming up to avoid falling down.

Retail veterans, Target & Kroger, aren’t allowing Amazon to claim a 100% market victory yet.

News sources say that Target and Kroger may not be on the verge of merging anytime soon but the two companies have discussed working together. And the most appealing partnership opportunity comes from Target’s acquisition of app-based delivery service, Shipt.

Target acquired Shipt in December 2017 for $550 million in cash, making Shipt a wholly owned Target subsidiary. The company was founded in 2014 by Birmingham-based millennial Bill Smith. Under Smith’s leadership, the delivery service gained a network of over 40,000 personal shoppers who provide high-quality same day delivery service in over 80 U.S. markets.

The acquisition of Shipt gives Target it’s own platform to cater to customers in a unique way. Although there may seem to be competition from InstaCart and Amazon Fresh, two on-demand delivery services that focus on customers in specific markets, Target is well positioned to use strategy to maintain it’s position in the retail industry.

What’s next for Kroger and Target? The specific plans haven’t been revealed yet but rumors of a possible merger did cause both stock prices to soar on Friday, March 23rd.

Want more market updates delivered to your inbox so you can know what’s going on before you step into the office? Sign up for Wealthy Women Weekly!

Spotify, a digital music streaming service that was launched in 2008, will be listed on the NYSE stock exchange and available for the public to invest in the company via shares. This is expected to happen on Tuesday, April 3rd.

Spotify was recently valued at $20.6 billion, allowing the company to meet the minimum listing requirements for eligibility on the NYSE. The New York Stock Exchange requires newly listed companies to have 1.1 million publicly held shares that are held by at least 2,200 shareholders.

How will Spotify enter the markets? The company decided to proceed with a DPO (Direct Public Listing) instead of a traditional IPO (Initial Public Offering). This choice to bypass the high-cost method of listing as a IPO will save the company time and money, but won’t come with some of the added security blankets an IPO offers.

Spotify has a loyal subscriber base of 71 million users, ranking the company in the top 2 spots for music streaming services. It’s standing on the charts right next to Google Music, a service publicly launched by Google in 2011. No subscriber metrics available for Google Music.

Based on research from Wealthy Women Daily, here is a quick analysis of the deal:

• DPO vs. IPO: The decision to proceed with a DPO is a smart move because Spotify already has a loyal customer base, making an IPO not extremely beneficial.
• Increase in Capital: The money the company receives from the selling of shares will help with their lack of revenue. The DPO won’t create any new shares; the company will just sell their existing shares. Employees also have the option of selling their shares.
• Trading on NYSE: When shares begin trading in April, the price will be volatile. You may see unpredictable price movements until a price range stabilizes in 3- 6 months.
• Impact of Brand Positioning: Based on Spotify’s brand name reputation, retail investors will buy in at a safe point.

We will continue to watch this stock over the next few trading months.

Do you have questions about the markets? Leave a comment below or send a message with your questions.

Tech giant and luxury goods provider, Apple, has added Texture to it’s portfolio. Texture is a digital magazine subscription app company that was founded in 2010. It provides unlimited monthly access to articles from more than 200 magazines and has a subscriber base of “hundreds of thousands” of users.

Apple has acquired 100% of the company and staff. Texture was under the leadership of an all-male executive team of 8 (according to the Texture website).

Global independent investment bank Moelis & Co advised Texture.

How does an acquisition work?

An acquisition happens when one company (typically a larger company) buys another company with cash, stock, or a combination of the two in order to sharpen focus in an industry.

Where did Apple get the money to fund the acquisition?

Here’s a possibility: Apple is bringing back it’s cash from abroad and using it to finance acquisitions.

In January 2018, Apple announced that it would bring back the majority of the cash that it held abroad and make investments in the United States. What’s the incentive behind this move? Trump’s Tax Reform. It allowed for a one-time repatriation of corporate cash held abroad at a lower tax rate. This provision saves Apple approximately $43 billion in taxes, according to the Institute on Taxation and Economic Policy. That’s a large stash of cash that could be used to fund this acquisition and many more.

Apple has $252 billion of it’s total cash of $269 billion held abroad. This accounts for 94% of its total cash held outside the United States.

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Featured Image: Courtesy of Apple

Disclaimer: Wealthy Women Daily is solely education and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision.