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$1M in retirement savings could last nearly 20 years in Indiana

Monday’s Business Headlines (2) 07/15/24

INDIANAPOLIS (WISH) — Here is a look at Monday’s business headlines with Jane King where she discusses, retirement saving electric bill costs and more.

Study: $1 million in savings may not be enough to retire

A new study shows that even $1 million dollars in retirement savings won’t last very long in some states.

The website GoBankingRates says in Indiana, a million bucks will last you 18 years, 11 months, 27 days. That’s based on annual costs for food, housing, transportation and medical care.

Report: Electric bills could rise by 8% this summer

As the mercury rises, so do air conditioning costs. A new report from the National Energy Assistance Director’s Association says electric bills this summer are expected to increase by 8% nationwide, and even higher in the West and the Mid-Atlantic.

The report says last year, nearly one-quarter of Americans were unable to keep their homes comfortable because of high costs.

Experts say AT&T customers should be wary of scams

AT&T says call data from cellular customers call data was possibly a part of data breach announced last week.

AT&T said Friday that data was breached from nearly all of its cellular customers and the customers of wireless providers that used its network between May 1, 2022, and Oct. 31, 2022.

Cyber security experts say AT&T customers should be hypersensitive to future phone calls and text messages.

Especially where they’re being asked to do things like call a number, click a link or transfer money. That includes requests from what appears to be a number that you normally communicate with

Analysts: Assassination attempt raises odds of Trump win

Some Wall Street Analysts say Saturday’s assassination attempt at former President Donald Trump’s election rally raises his odds of winning back the White House, and they say trades betting on his victory will increase this coming week.

Portfolio managers told CNBC that before the shooting, markets had reacted to the prospect of a Trump presidency by pushing the dollar higher and positioning for a steeper U.S. Treasury yield curve, and those trades could strengthen in the coming week.

Report: Robots could be used more by the military

The chairman of the Joint Chiefs of Staff, Gen. Charles Q. Brown Jr., believes growing Artificial Intelligence and unmanned technology could lead to robotic military forces in the future.

Advancements in technology and changes in the nature of war will enable militaries worldwide to make smarter and faster decisions, he says.