
In 2024, the cannabis landscape in the United States experienced some developments, though federal legalization or removal from the Controlled Substances Act (CSA) did not occur under the Biden administration, though that was promised to voters on a regular basis. “No one should be in jail for cannabis possession” was the refrain repeated by President Joe Biden , beginning with his March 2024 State of the Union — the first time marijuana was ever mentioned in such an illustrious political setting — all the way up to his mid-December 2024 commutation of 1500 people including a relatively small number of cannabis offenders. Federal Rescheduling? Delay And More Delay The Drug Enforcement Administration (DEA) initiated a review to reclassify cannabis from a Schedule I to a Schedule III substance under the CSA. This move, following August 2023 Biden-directed recommendations from the Department of Health and Human Services, could have represented a historic shift in federal cannabis policy. But alas, it was never finalized. The move would have alleviate challenges related to taxation and research restrictions faced by the industry under the ongoing federal restrictions. Congress, Where Are You? Rep. Earl Blumenauer (D-OR), longtime cannabis reform advocate, said in a mid-December C-Span interview that Congress seems to be "trapped in time." "My work on cannabis legalization and working to end the failed war on drugs is one of my greatest areas of satisfaction and one of my greatest disappointments," said Blumenauer who has been involved in cannabis reform since 1973 when he was an Oregon state legislator. The incoming GOP-led Congress, at least so far, has not prioritized cannabis reform, thus diminishing prospects for supportive legislation. Read Also: Guns And Cannabis Don’t Mix In Kentucky: Medical Marijuana Law Takes Effect On New Year’s Day But There Were State-Level Legalization Initiatives Several states presented cannabis-related measures during the November 2024 elections with mixed outcomes. Nebraska: Voters approved the legalization of medical cannabis , marking a significant policy change in a state where cannabis was previously entirely illegal. Florida: A well-funded campaign to legalize recreational marijuana failed to achieve the required 60% supermajority, despite substantial financial backing and public support. North Dakota and South Dakota: Both states rejected measures to legalize recreational marijuana, reflecting ongoing resistance in certain regions. How Did Market Dynamics Fair? The cannabis market faced economic challenges throughout 2024, with many U.S. and Canadian companies experiencing significant stock price declines . Factors contributing to this downturn included regulatory uncertainties, taxation issues and competition from rampant illicit markets. Notably, AdvisorShares Pure US Cannabis ETF MSOS experienced a challenging 2024, with its stock price declining by approximately 48%, noted Benzinga PRO , indicating broader market struggles including the aforementioned regulatory challenges. Public Perception And Usage – Some Positive News Marijuana’s popularity continued to rise, with daily users in the U.S. surpassing alcohol consumers . This shift is attributed to changing legal statuses, increased public awareness of marijuana’s health benefits and the general acceptance of marijuana as a benign substance, the consumption of which has never resulted in any reported deaths. Now we just need a bit more support for rescheduling and maybe even legalization. Now Read: Trump Is First ‘Republican President’ With A Pathway To Cannabis Reform, Says Former Adviser Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
NEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today reported monthly volumes for November 2024 on its Investor Relations website. A data sheet showing this information can be found at: http://ir.nasdaq.com/financials/volume-statistics . About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn , on X @Nasdaq , or at www.nasdaq.com . Cautionary Note Regarding Forward-Looking Statements Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to (i) projections relating to our future financial results, total shareholder returns, growth, trading volumes, products and services, ability to transition to new business models, taxes and achievement of synergy targets, (ii) statements about the closing or implementation dates and benefits of certain acquisitions, divestitures and other strategic, restructuring, technology, de-leveraging and capital allocation initiatives, (iii) statements about our integrations of our recent acquisitions, (iv) statements relating to any litigation or regulatory or government investigation or action to which we are or could become a party, and (v) other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov . Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Media Relations Contacts: Nick Jannuzzi +1.973.760.1741 Nicholas.Jannuzzi@Nasdaq.com Nick Eghtessad +1.929.996.8894 Nick.Eghtessad@Nasdaq.com Investor Relations Contact: Ato Garrett +1.212.401.8737 Ato.Garrett@Nasdaq.com -NDAQF-
Provident Bancorp, Inc. Adopts Stock Repurchase ProgramFifty-seven percent of U.S. workers say they’re behind on their retirement savings, according to Bankrate’s 2024 Retirement Savings Survey . But no group says they’re behind more than Gen X. A whopping 68 percent of Gen X workers say they’re lagging when it comes to retirement savings. The first edge of Gen X, which ranges in age from 44 to 59, is on the cusp of retirement, and they still have time and a handful of strategies to significantly improve their savings and retirement. Here’s how Gen X — and plenty of other Americans — can turbocharge their savings. 7 ways Gen X can accelerate their retirement savings Gen X — and all Americans — can turbocharge their retirement savings, but basically all strategies focus on three major action categories: •Save and invest more •Invest in higher-return assets •Give yourself more time Those strategies are your tried-and-true ways to set up your retirement, and unfortunately, retirement savers have no silver bullets short of winning the lottery. Working with a financial advisor can help you make the smartest decisions for your retirement savings. 1. Set up that 401(k) plan If you haven’t done so, the fastest way to get started on saving for retirement is to set up your employer-sponsored 401(k) or 403(b) plan . These plans allow you to invest in high-return assets, and they defer or eliminate taxes, so you can compound your gains faster without the tax drag. The money is pulled straight from your paycheck and deposited directly into your account, meaning you set it up once and then your 401(k) plan takes care of all future withdrawals. The 401(k) plan comes in two varieties: the traditional 401(k) and the Roth 401(k) . The big difference is that the traditional plan allows your contributions to go in tax-free and you’ll pay taxes only when the money comes out of the account. In contrast, with the Roth 401(k), your contributions go in after-tax, but you won’t pay taxes again on any gains or withdrawals. 2. Max it out – then max out the catch-up contributions The 401(k) plan has a maximum annual contribution , and you should try to hit that level. For 2024, the maximum contribution is $23,000, but the amount rises to $23,500 in 2025. Those age 50 and over can add in an additional $7,500 catch-up contribution each year, too, so you can really sock away cash in your tax-advantaged account. That leading edge of Gen X will also soon be able to save even more each year in a 401(k), too. In 2025, the catch-up contribution for workers age 60 to 63 will rise to $11,250. 3. Get your full 401(k) employer match Most employers offer a matching contribution if you make a contribution to your 401(k). So if you make a deposit, they make a deposit. Employees can often get 3 to 5 percent of their salary as a match. This money is the easiest, safest return you’ll ever make, and experts advise workers to take full advantage, even if they can’t max out their annual contribution. The 401(k) matching funds can go into high-return investments , just like your regular contribution. 4. Invest more in stocks, less in bonds Beyond getting more savings into your investment accounts, you can invest in high-return assets such as stock funds, allowing you to compound your money faster. A diversified portfolio of stocks has outpaced bonds and other investments over time. So, it can make sense to invest more of your nest egg in these high-return assets, multiplying your greater savings even faster. For example, the S&P 500 stock index — a collection of hundreds of America’s top companies — has returned an average of about 10 percent annually over time, much more than you could typically earn from bonds. You can purchase the whole collection of stocks by buying an S&P index fund — most 401(k) plans offer them — and your returns will mirror whatever the index returns. The downside of investing more in stocks, however, is that they’re more volatile in the short term, so the returns can be lumpy, even though stocks are arguably the best long-term investment . 5. Give yourself more time before retirement Time is your biggest ally when it comes to investing. The more time you give yourself to invest in high-return assets, the greater your wealth is likely to be. If you can delay tapping your retirement account for longer, you’ll be able to compound your gains even more. The younger cohort of Gen X has an advantage here, and the extra years before retirement can really accelerate the total amount of money they’re able to accumulate. Even five years can make an enormous difference if you’re really dedicated to saving more. The leading edge of Gen X has less time to compound money but can make a serious effort, even if they don’t have the luxury of time. For most, that means working longer. But this avenue offers two advantages: the ability to save more and not tap limited savings, giving your money more chance to compound. Every year you can delay, the greater the potential savings. 6. Full retirement plan? Consider other account types So you’ve maxed out your 401(k) retirement plan. There’s no need to stop there. Any American with earned income can contribute to an IRA (although your income level will affect tax deductibility), whether they have a 401(k) account or not. And you can always open a taxable brokerage account, where you can also invest in high-return stock funds. An IRA is similar to a 401(k) in several ways. With a traditional IRA, you can invest on a pre-tax basis, meaning you’ll pay no tax on contributions. Taxes come out only when you withdraw funds later. In contrast, a Roth IRA allows you to contribute with after-tax money, but the money can compound with no taxes, and withdrawals in retirement are tax-free. The best brokers for stocks can help you find strong stock funds that can multiply your money. 7. Skip prepaying the mortgage and other non-retirement savings If you’re serious about building your retirement savings, other savings and expenses have to take a back seat. Prepaying a mortgage, for example, may not be a great decision, since it ties up cash in your house and you’re unable to invest it in higher-return investments. Similarly, if you’re saving money for a child’s education through a 529 plan, it’s important to focus on retirement. A financial advisor can help you prioritize your savings and make the smartest decisions for your retirement. Bottom line With some serious concerns about the long-term solvency of Social Security , Gen X cannot take it for granted that they’ll have the same level of income that previous generations have had. Therefore, it’s vital that Gen X take advantage of their remaining working years to get their finances in order. ____ Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.
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With technical prowess and considerable style, Marta danced around two sliding defenders, outwitted a goalkeeper and calmly scored as another player rushed forward in desperation to stop her. It was more Marta Magic. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get any of our free email newsletters — news headlines, obituaries, sports, and more.