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Tag: Living/Lifestyle

  • AMC shares rise as meme-stock darling eyes another big Taylor Swift weekend

    AMC shares rise as meme-stock darling eyes another big Taylor Swift weekend

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    For AMC Entertainment Holdings Inc., “Taylor Swift: The Eras Tour” is the gift that keeps on giving.

    Taylor Swift’s record-breaking concert film, which opened Oct. 12, is in its third weekend at the box office and has already brought in more than $178 million worldwide, according to IMDbPro’s Box Office Mojo.

    “Weekend #3 for Taylor Swift The Eras Tour: Thursday through Sunday,” tweeted AMC CEO Adam Aaron Wednesday. “Playing at all AMC & Odeon theatres in the U.S. & Europe. The highest grossing concert film of all time. CinemaScore A+, RT 99%/98%. See the phenomenon that has captivated the world.”

    Related: AMC still riding a ‘Taylor Swift: The Eras Tour’ wave

    Earlier this week Aaron tweeted that the movie enjoyed a successful second weekend in theaters. “It’s such a privilege to report that Taylor Swift The Eras Tour won the weekend again!” he wrote on Monday. “The first ever movie distributed by AMC, it had the biggest box office gross last weekend and this weekend! Grossed $179 million so far. All the credit goes to the extraordinary Taylor Swift!”

    Set against this backdrop AMC
    AMC,
    -0.87%
    shares rose 1.9% Friday and are on pace to snap a two-day losing streak.

    In addition to showing “Taylor Swift: The Eras Tour” in its theaters, AMC  is also the theatrical distributor for the movie. AMC Theatres Distribution and subdistribution partners Variance Films, Trafalgar Releasing, Cinepolis and Cineplex Inc. have clinched deals with movie-theater operators representing more than 8,500 theaters globally to show the film, according to AMC.

    EXCLUSIVE: AMC boosted by Taylor Swift and summer blockbusters, cinema foot-traffic data show

    “Taylor Swift: The Eras Tour” remained atop the domestic box office last weekend, ahead of Martin Scorsese’s “Killers of the Flower Moon,” which brought in an estimated $23 million on its debut weekend, according to Comscore data released Sunday. The new Scorsese movie, which stars Leonardo DiCaprio, also enjoyed a strong opening weekend internationally, bringing in an estimated $21 million.

    Shares of movie theater chain and meme stock darling AMC have fallen 73.8% in 2023, compared with S&P 500 index’s
    SPX
    gain of 7.2%.

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  • So you spent $1,000 on Bad Bunny concert tickets. Here’s how to recover.

    So you spent $1,000 on Bad Bunny concert tickets. Here’s how to recover.

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    You got ‘em. But at what cost? 

    The summer and fall of 2023 have offered music fans endless opportunities to drop big dollars on concerts. Artists ranging from pop icons like Beyoncé and Taylor Swift to newer acts like Olivia Rodrigo have announced tours or hit the road, giving fans a reason to splurge on tickets, merchandise and rhinestone cowboy boots. 

    The latest hitmaker to confirm they’re hitting the road is Puerto Rican singer Bad Bunny, who announced the dates for his “Most Wanted” North American tour on Oct. 19.

    Some fans who participated in the tour’s presale were surprised to see the prices. Several took to social media to express their sticker shock, noting that even nosebleed seats were listed at a few hundred dollars each. The exact prices could only be viewed by select fans who were granted access to the sale.

    “Benito should’ve named this tour ‘most expensive tour’ cause what are those prices,” one user posted.

    Another called Bad Bunny “disrespectful,” and posted a screenshot showing nosebleed seats going for $300 and a floor seat priced at $1,101.95.

    Americans have spent big on entertainment this summer and fall, shelling out on recreational expenses like movies, shows and travel. A study from QuestionPro found that concertgoers who went to Taylor Swift’s The Eras tour spent an average of $1,300 per show, including tickets, clothing, merchandise, food, and travel.

    Related: Springsteen is one of many older rockers canceling shows for health reasons, making ticket purchases risky for fans

    That kind of spending has fueled the country’s still-pumping economy, which grew at a 4.9% clip in the third quarter. 

    That being said, dropping four figures on one ticket can put a serious dent in your savings  — or your credit-card balance. But who among us hasn’t considered blowing our budget to scream our favorite songs in a packed stadium? MarketWatch talked to experts for advice on how to bounce back from doing just that. 

    United Talent Agency, which represents Bad Bunny, did not respond to requests for comment. Ticketmaster directed MarketWatch to an FAQ page about tickets and ticket prices on their website. 

    Step 1: Don’t freak out 

    First things first, “take a deep breath,” said Emy Lee, a former accountant and spending coach with more than 40,000 followers on TikTok. A one-time purchase like a concert ticket likely won’t ruin your finances for good, she said — but it can pose a much bigger risk if it sends you into a cycle of shame and overspending.

    “I see this in my clients, too: somebody will make a big purchase, and then they beat themselves up for it and feel guilty,” she said. “Then they just keep spiraling and making impulsive purchases.”

    There’s nothing inherently wrong with spending a lot of money on a concert ticket, said Kimberly Palmer, a personal-finance expert at NerdWallet. 

    “For a lot of people, buying a concert ticket, even though it’s a huge splurge and outside of their normal budget, is not necessarily a bad choice. It’s spending money that really aligns with their values,” she said. “What’s a good choice for you is not necessarily something that can be answered just by looking at numbers or your budget or your income.” 

    Tours for huge artists like Beyoncé or Taylor Swift can also create a huge sense of FOMO, Lee noted, piling on even more pressure to snag a ticket no matter the cost.

    Jack Heintzelman, a certified financial planner from Needham Heights, Mass., recommended giving yourself some grace. 

    “Life happens! This is completely okay and very common,” he said over email. “That’s what we save money for in the first place.”

    Step 2: Make a plan 

    After you’ve cleared your head, it’s time to make a plan. The steps to getting back on track financially will look a little different depending on how you paid for the ticket. 

    Did you put the purchase on a credit card? Then you’ll want to make a plan to pay down the balance as quickly as you can, Palmer said — ideally by the end of the month, before it starts accruing interest.

    But even if it will take a little longer, you should prioritize those payments, she said.

    “You want to make sure you have a plan where you’re paying it down so it doesn’t snowball and become an even bigger amount of debt,” Palmer said. “You can get hit with late fees, and it can quickly get out of control.”

    That’s especially important in a high-rate environment, where interest rates on many credit cards are especially high.  Last year, the average late payment fee for credit cards was $32.

    If the cost of the ticket came out of your savings account, you’re not in danger of the debt ballooning over time. Still, Palmer said, you should focus on replenishing your savings so you’re still in a good position to weather any emergencies that come your way.

    “That could mean setting aside a small amount from every paycheck until you feel comfortable again,” she said. 

    Step 3: Move on 

    After making a plan, it’s time to start thinking about how to avoid overspending like this in the future, experts said.

    “Planning is way easier than recovering as far as big purchases go,” Lee said.

    That doesn’t mean you have to sit on the sidelines every time your favorite artist comes to town. In fact, part  of smart money management is spending intentionally on the things that are truly important to you, Palmer added: “For plenty of people, buying that concert ticket is going to bring them a lot of joy.”

    But sticking to a monthly budget will help you make big purchases with confidence, experts noted. 

    Building a budget often starts with tracking your income and expenses to understand just how much money you’re making and what you’re spending it on. The primary part of your budget should cover your needs. What’s left over can be split between savings and variable expenses — like entertainment.

    “Entertainment gets tricky, because a lot of people feel that it’s a need because it makes you happy,” Lee said. But most often, it should be considered a variable expense.

    After you have a sense of where your money is going, you can trim unnecessary costs, and allocate a portion of your income each month to saving or other financial goals.

    Heintzelman recommended automating a portion of your income to deposit straight into your savings account.

    “That savings will start to build up and be available for that next ‘unexpected’ expense that comes up,” he said over email. “If you automate your savings you can be less stressed about these times where you have to spend down your emergency reserve, because you know you’ll build it over time.”

    Sometimes, making a savvy financial decision will entail finding a more cost-effective way to celebrate your favorite artist. 

    That could mean something like skipping the concert in favor of throwing a themed party at home, Lee said. You can still get dressed up and dance to your favorite songs  with your friends — just with cheaper concessions and no lines for the bathroom. 

    Keeping a budget and making a financial plan will save you a lot of stress in the future, Palmer said. Sticking to one now means you can buy another ticket stress-free when the next tour comes around. 

    “Focusing on making a budget means you have a framework for these decisions,” she added. “It takes the guilt out of the equation.” 

    See also: ‘We’re literally being stolen from, in plain sight’: Musicians are tired of venues taking their T-shirt money, and they’re fighting back.

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  • Inside Kanye West’s troubled Adidas partnership: Tears. Rage. Thrown shoes. Even a scrawled swastika.

    Inside Kanye West’s troubled Adidas partnership: Tears. Rage. Thrown shoes. Even a scrawled swastika.

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    The ending of the partnership between the artist Kanye West, who now goes by Ye, in October 2022 appeared to come after weeks of his comments about Jewish people and Black Lives Matter, but the New York Times is reporting that the relationship was troubled from the very start.

    At a meeting on the collaborative creation of the very first shoe in 2013, Adidas
    ADS,
    -0.10%

    ADDYY,
    -0.03%
    designers were stunned when West rejected all of the ideas that were presented using fabric swatches on a table and a mood board, the seven-month investigation found. Instead, West, the Times reports, grabbed a sketch and drew a swastika in marker.

    The move shocked the Germans in the room. Germany has a strict ban on displaying the symbol of the Nazi era apart from for artistic purposes. Adding to the sense of horror, the company’s founder — Adolf, or “Adi,” Dassler, who died in 1978 — was a Nazi Party member, and the meeting took place close to Nuremberg, where leaders of the Third Reich were famously tried for crimes against humanity.

    “A year ago this week, Adidas threw in the towel.”

    West’s fixation on the Nazi era continued, the Times reports, when he later told a Jewish manager at Adidas to kiss a portrait of Adolf Hitler every day. He also told Adidas workers that he admired Hitler’s use and command of propaganda.

    West also brought porn to the workplace and made crude, sexual comments at meetings, according to the Times report. Before the swastika episode, West, according to the Times, had made Adidas executives watch porn at a meeting in his Manhattan apartment.

    In 2022 he reportedly ambushed executives with a porn film. Other workers complained to top managers that he had made angry sexual comments to them.

    The artist, said to have been diagnosed with bipolar disorder, also frequently cried or became angry during meetings, according to the Times investigation. In one instance in 2019, he reportedly moved the operation designing his shoes to Cody, Wyo., and ordered the Adidas team to relocate. In a meeting to discuss his demands with executives, he threw shoes around the room, the Times reports.

    Adidas sought to adapt to this behavior, given how valuable the West-established Yeezy brand was to the company, locked in a perennial battle for both revenue and buzz with its U.S.-based rival Nike Inc.
    NKE,
    -2.04%    .
    Yeezy sales would rapidly surpass $1 billion a year and help Adidas resonate with young American customers.

    Ratings Game (July 2020): Gap hopes it can burnish its image with a new Kanye West clothing line, repeating the rapper’s brand success with Adidas

    Managers launched a group text chain they called the “Yzy hotline” to discuss his behavior. To reduce stress on individuals, the company is said to have rotated managers in and out of dealing directly with West.

    Over time, meanwhile, Adidas sweetened the terms of West’s deal. Under a 2016 contract, he was entitled to a 15% royalty on sales with a $15 million upfront payment as well as millions of dollars in Adidas stock. In 2019, a further $100 million a year was earmarked for marketing, but, in reality, West could spend those funds at will.

    A year ago this week, though, as public awareness of West’s problematic attitudes are remarks spiked, Adidas threw in the towel, and as sales of Yeezy shoes fell away, it warned it would record its first annual loss in decades. As West’s net worth plummeted, the company wrestled with the decision of how to dispense with its final $1.3 billion in Yeezy products, mulling options including disassembly and repurposing, donation to charity, and outright disposal.

    When a decision was reached to sell the product — in release batches — with some of the proceeds directed to charity and most of the rest flowing to Adidas, West, even then, was entitled to royalties.

    From the archives (October 2022): Kanye West is no longer a billionaire after Adidas shelves Yeezy partnership

    Also see (November 2022): Nike parts ways with Kyrie Irving as controversy swirls over Brooklyn Nets star’s apparent endorsement of antisemitic film

    After bottoming in October 2022, Adidas shares have mounted a 67% comeback, with relief over the company’s not having had to book a damaging loss on the Yeezy line one factor in the restoration of investor confidence.

    Adidas is quoted as having told the Times that it “has no tolerance for hate speech and offensive behavior, which is why the company terminated the Adidas Yeezy partnership,” while West reportedly declined requests for interviews and comment.

    The Times investigation is said to have been based on access to hundreds of previously undisclosed internal records.

    Read on: Michael Jordan is now worth $3 billion. Here’s what billionaire athletes have in common.

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  • Hasbro’s stock is having its worst month since the 1980s as toys sales tumble

    Hasbro’s stock is having its worst month since the 1980s as toys sales tumble

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    Shares of Hasbro Inc. got rocked Thursday, making investors suffer through the worst month in four decades, as a weakening toy market led the company to report disappointing third-quarter results.

    Heading into 2023, the toy market was expected to be down in the low-single-digit percentage range for the year, but the market’s performance has been “more challenging that planned,” Chief Executive Chris Cocks said on the post-earnings conference call with analysts.

    “We saw the category soften during [the third quarter] to negative 10%,” Cocks said, according to an AlphaSense transcript.

    The stock
    HAS,
    -11.42%
    fell 11.5% toward a seven-month low in afternoon trading and was headed for the biggest one-day selloff since it sank 18.7% on March 16, 2020.

    It has fallen in 14 of the 19 trading days in October, to plunge 26.7% in the month to date. That puts it on track for the worst monthly performance since the record 43.1% selloff in October 1987, the month when “Black Monday” occurred.

    Overall, third-quarter revenue fell 10.3% to $1.5 billion, to miss the FactSet consensus of $1.62 billion. The company’s consumer-products business, which includes toys, dropped 17.6% to $956.9 million, missing expectations of $1.1 billion.

    Sales for Habro’s entertainment segment fell 41.9% to $122.9 million, below Wall Street projections of $127.8 million, but the company was able to blame that weakness on the effects of the writers and actors strikes on film and TV revenue.

    It wasn’t all bad for Hasbro, however. Wizards of the Coast and digital-gaming revenue soared 39.6% to $423.6 million, well above expectations of $390.3 million, amid a more than doubling in digital- and licensed-gaming revenue behind “Baldur’s Gate III” from Larian Studios.

    For 2023, the company now expects revenue to be down 13% to 15% from 2022, which is much worse than previous guidance for a decline of 3% to 6%. The current FactSet revenue consensus of $5.5 billion implies a 6.1% decline.

    Hasbro also reported a net loss of $171.1 million, or $1.23 a share, after recording net income of $129.2 million, or 93 cents a share, in the same period a year ago. Excluding nonrecurring items, such as losses on assets held for sale, adjusted earnings per share rose to $1.64 from $1.42 but missed the FactSet consensus of $1.72.

    CFRA analyst Zachary Warring cut his price target on Hasbro’s stock to $68 from $85 but reiterated his strong buy rating, as the new target implied 40% upside from current levels.

    “Even though we were caught offside on this quarter’s results, we believe this is a multi-year opportunity to buy shares and expect digital gaming to continue momentum while consumer products has little downside,” Warring wrote in a note to clients.

    Meanwhile, shares of Hasbro rival Mattel Inc.
    MAT,
    -7.63%
    also dropped, down 7.1% toward a four-month low, even though the company’s third-quarter profit and sales beat expectations. That’s because strong sales of Barbie, Disney Princess and Disney Frozen dolls offset weakness in toys.

    Mattel said it expects toy-industry sales to decline in the mid-single-digit percentage range for the year.

    Mattel’s stock was down 15.2% in October, while the S&P 500
    SPX
    slipped 3.2%.

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  • Junk food is as addictive as alcohol and cigarettes: report

    Junk food is as addictive as alcohol and cigarettes: report

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    Apparently, you really can become a junk-food junkie.

    That’s what a new study published by the British Medical Journal says, noting that ultra-processed foods — meaning food that contain “ingredients not available in home kitchens” and that typically have high levels of refined carbohydrates or added fats — are plenty addictive. And they’re on par with alcohol and tobacco, the study notes.

    Specifically, the study says that food addiction — again, closely connected with the consumption of ultra-processed foods — is prevalent in 14% of the adult population. That matches the percentage for alcohol addiction and is just slightly below the percentage for tobacco addiction (18%).  

    The study warns that junk foods like sweets and snacks deliver those carbs and fats to the gut at a speedy rate, contributing to their addictive potential. It’s not unlike how cigarettes “rapidly deliver nicotine to the brain,” the study warns.

    Additives also play a role in making these junk foods so appealing, the study says. That is, they increase sweet and savory tastes. Not surprisingly, the study notes that additives “that aim to improve [flavor] and mouthfeel are also common in cigarettes, including sugar, cocoa, menthol, and alkaline salt.”

    If anything, the study points to issues with food addiction that don’t exist with other addictions since food is a critical part of our lives. “Addictive drugs are not necessary for survival; eating is,” the study says.

    The study says understanding that ultra-processed foods are indeed addictive could “lead to novel approaches” in addressing the issue. It points to several policies that are already being taken across the world, such as levying taxes on sweetened beverages or posting nutritional information on the front of packages.

    MarketWatch reached out to SNAC, a trade group representing snack-food manufacturers, about the study, but didn’t receive an immediate response.

    Americans’ desire to snack doesn’t appear to be abating. In its most recent annual report, SNAC says the annual total sales for salty snacks grew by 15.6% in 2022 to $28.4 billion. Potato chips alone saw 14.5% growth to $7.8 billion in sales.

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  • Can the average American family be called millionaires? Yes, but …

    Can the average American family be called millionaires? Yes, but …

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    It seems hard to believe, and it’s one of those cases where definitions mean everything, but the average family in America has achieved millionaire status.

    That’s according to the Federal Reserve’s latest authoritative survey of consumer finances, and it comes with lots of asterisks attached.

    But first, the data: The mean net worth of the average American household, even adjusting for inflation, was $1.06 million last year. Compared with 2019, that figure was up 23%, boosted by rising house prices and a surging stock market
    SPX.

    OK, here comes the but: The median, as opposed to the mean, net worth of the typical American household is just $192,900. That figure still represents an impressive after-inflation gain of 37% over those three years, but it’s more in line with what everyday experience suggests.

    The median household refers to the grouping smack in the middle of rankings. The average, or mean, gets boosted by the likes of billionaires Elon Musk and Jeff Bezos. American households by income in the top 10% have a net worth, on average, of $6.63 million, according to the Fed.

    Showing the massive importance of home ownership to amassing wealth, those who own their residence have an average net worth of $1.53 million, compared with just $155,000 for renters.

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  • These are the biggest money mistakes we make in our 20s, 30s and 40s

    These are the biggest money mistakes we make in our 20s, 30s and 40s

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    Financial literacy peaks at age 54, according to a 2022 study. That’s around the time you’ve gained enough knowledge and experience to make sound money decisions — and before your cognitive ability might start to ebb.

    “As we get older, we seem to rely more on past experience, rules of thumb, and intuitive knowledge about which products and strategies are better,” said Rafal Chomik, an economist in Australia who led the study.

    If people in their mid-50s tend to make smart financial moves, where does that leave younger generations?

    Advisers often educate clients at different stages of life to avoid money mistakes. While those in their 50s usually demonstrate optimal prudence  in navigating investments and savings, advisers keep busy helping others — from twentysomethings to mid-career professionals — avoid costly financial blunders:

    Navigate your 20s

    Perhaps the biggest blunder for young earners is spending too much and saving too little. They may also lack the long-term perspective that encourages long-range planning.

    “The mistake is not establishing the saving habit early, and not appreciating the power of compounding” over time, said Mark Kravietz, a certified financial planner in Melville, N.Y.

    Similarly, it’s common for young workers to delay enrolling in an employer-sponsored retirement plan. Not participating from the get-go comes with a steep long-term cost.

    “ Better to prioritize debt with the highest interest rate, which can result in paying less interest over the long run. ”

    People in their 20s process incoming information quickly. But their high level of fluid intelligence can work against them. Cursory research into a consumer trend or hot sector of the stock market can spur them to make rash investments. Such impulsive moves might backfire.

    “It’s important to resist the hype,” Kravietz said. “Don’t chase fads or try to make fast money” by timing the market.

    Many young adults with student debt juggle multiple loans. Eager to chip away at their debt, they fall into the trap of choosing the wrong loan to tackle first, says Megan Kowalski, an adviser in Boca Raton, Fla.

    Rather than pay off the highest-interest rate loan first (so-called avalanche debt), they mistakenly focus on the smallest loan (a.k.a. snowball debt). It’s better to prioritize debt with the highest interest rate, which can result in paying less interest over the long run.

    Navigate your 30s

    “ Resist the temptation to lower your 401(k) contribution to boost your take-home pay. ”

    By your 30s, insurance grows in importance. You want to protect what you have — now and in the future. But many people in this age group neglect their insurance needs. Or they misunderstand which coverages matter most.

    “If you have a life partner and kids, get the proper life insurance while in your 30s,” Kravietz said. 

    It’s easy to get caught up in your career and assume you can put off life insurance. But even low odds of your untimely death doesn’t mean you can ignore the risk of leaving your loved ones without a cash cushion.

    Another common blunder involves disability insurance. If your employer offers short-term disability insurance as an employee perk, you may think you’re all set.

    However, the real risk is how you’d earn income if you suffer a serious and lasting illness or injury. Don’t confuse short-term disability insurance (which might cover you for as long as one year) with long-term disability coverage that pays benefits for many years.

    Assuming you were wise enough to enroll in your employer-sponsored retirement plan from the outset, don’t slough off in your 30s. Resist the temptation to lower your 401(k) contribution to boost your take-home pay.

    “You want to give till it hurts,” Kravietz said. “Keep putting money away” in your 401(k) or other tax-advantaged plan until you feel a sting. Weigh the minor pain you feel now against the major relief of having a much bigger nest egg decades from now.

    Navigate your 40s

    “ ‘The 40s are often the most expensive in anyone’s life. Life is getting more complicated.’”

    For Kravietz, the 40s represent a decade of heavy spending pressures. Mid-career professionals face a mortgage and mounting tuition bills for their children.

    “The 40s are often the most expensive in anyone’s life,” he said. “Life is getting more complicated.”

    As a result, it’s easy to overlook seemingly minor financial matters like updating beneficiaries on your 401(k) plan or completing all the appropriate estate documents such as a will.

    “People in their 40s sometimes fail to update beneficiaries,” Kravietz said. For example, a new marriage might mean changing the beneficiary from a prior partner or current parent to the new spouse.

    It’s also easy to get complacent about your investments, especially if you’re the conservative type who favors a set-it-and-forget-it strategy. Instead, think in terms of tax optimization.

    “In your 40s, you want to take advantage of what the government gives you,” Kravietz said. “If you have a lot of money in a bank money market account and you’re in a top tax bracket, shifting some of that money into municipal bonds can make sense” depending on your state of residence and other factors.

    If you’re saving for a child’s college tuition using a 529 plan — and you have parents who also want to chip in — work together to strategize. Don’t make assumptions about how much (or how little) your parents might contribute to your kid’s education.

    “Rather than assume you’ll have to pay a certain amount for educational expenses, coordinate between generations of parents and grandparents” on how much they intend to give, Kowalski said. “That way, you’re not duplicating efforts and you won’t put extra funds in a 529 plan.”

    More: 7 more ways to save that you may not have considered

    Also read: ‘We live a rather lavish lifestyle’: My wife and I are 33, live in New York City and earn $270,000. Can we retire at 55?

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  • These are the biggest money mistakes we make in our 20s, 30s and 40s

    These are the biggest money mistakes we make in our 20s, 30s and 40s

    [ad_1]

    Financial literacy peaks at age 54, according to a 2022 study. That’s around the time you’ve gained enough knowledge and experience to make sound money decisions — and before your cognitive ability might start to ebb.

    “As we get older, we seem to rely more on past experience, rules of thumb, and intuitive knowledge about which products and strategies are better,” said Rafal Chomik, an economist in Australia who led the study.

    If people in their mid-50s tend to make smart financial moves, where does that leave younger generations?

    Advisers often educate clients at different stages of life to avoid money mistakes. While those in their 50s usually demonstrate optimal prudence  in navigating investments and savings, advisers keep busy helping others — from twentysomethings to mid-career professionals — avoid costly financial blunders:

    Navigate your 20s

    Perhaps the biggest blunder for young earners is spending too much and saving too little. They may also lack the long-term perspective that encourages long-range planning.

    “The mistake is not establishing the saving habit early, and not appreciating the power of compounding” over time, said Mark Kravietz, a certified financial planner in Melville, N.Y.

    Similarly, it’s common for young workers to delay enrolling in an employer-sponsored retirement plan. Not participating from the get-go comes with a steep long-term cost.

    “ Better to prioritize debt with the highest interest rate, which can result in paying less interest over the long run. ”

    People in their 20s process incoming information quickly. But their high level of fluid intelligence can work against them. Cursory research into a consumer trend or hot sector of the stock market can spur them to make rash investments. Such impulsive moves might backfire.

    “It’s important to resist the hype,” Kravietz said. “Don’t chase fads or try to make fast money” by timing the market.

    Many young adults with student debt juggle multiple loans. Eager to chip away at their debt, they fall into the trap of choosing the wrong loan to tackle first, says Megan Kowalski, an adviser in Boca Raton, Fla.

    Rather than pay off the highest-interest rate loan first (so-called avalanche debt), they mistakenly focus on the smallest loan (a.k.a. snowball debt). It’s better to prioritize debt with the highest interest rate, which can result in paying less interest over the long run.

    Navigate your 30s

    “ Resist the temptation to lower your 401(k) contribution to boost your take-home pay. ”

    By your 30s, insurance grows in importance. You want to protect what you have — now and in the future. But many people in this age group neglect their insurance needs. Or they misunderstand which coverages matter most.

    “If you have a life partner and kids, get the proper life insurance while in your 30s,” Kravietz said. 

    It’s easy to get caught up in your career and assume you can put off life insurance. But even low odds of your untimely death doesn’t mean you can ignore the risk of leaving your loved ones without a cash cushion.

    Another common blunder involves disability insurance. If your employer offers short-term disability insurance as an employee perk, you may think you’re all set.

    However, the real risk is how you’d earn income if you suffer a serious and lasting illness or injury. Don’t confuse short-term disability insurance (which might cover you for as long as one year) with long-term disability coverage that pays benefits for many years.

    Assuming you were wise enough to enroll in your employer-sponsored retirement plan from the outset, don’t slough off in your 30s. Resist the temptation to lower your 401(k) contribution to boost your take-home pay.

    “You want to give till it hurts,” Kravietz said. “Keep putting money away” in your 401(k) or other tax-advantaged plan until you feel a sting. Weigh the minor pain you feel now against the major relief of having a much bigger nest egg decades from now.

    Navigate your 40s

    “ ‘The 40s are often the most expensive in anyone’s life. Life is getting more complicated.’”

    For Kravietz, the 40s represent a decade of heavy spending pressures. Mid-career professionals face a mortgage and mounting tuition bills for their children.

    “The 40s are often the most expensive in anyone’s life,” he said. “Life is getting more complicated.”

    As a result, it’s easy to overlook seemingly minor financial matters like updating beneficiaries on your 401(k) plan or completing all the appropriate estate documents such as a will.

    “People in their 40s sometimes fail to update beneficiaries,” Kravietz said. For example, a new marriage might mean changing the beneficiary from a prior partner or current parent to the new spouse.

    It’s also easy to get complacent about your investments, especially if you’re the conservative type who favors a set-it-and-forget-it strategy. Instead, think in terms of tax optimization.

    “In your 40s, you want to take advantage of what the government gives you,” Kravietz said. “If you have a lot of money in a bank money market account and you’re in a top tax bracket, shifting some of that money into municipal bonds can make sense” depending on your state of residence and other factors.

    If you’re saving for a child’s college tuition using a 529 plan — and you have parents who also want to chip in — work together to strategize. Don’t make assumptions about how much (or how little) your parents might contribute to your kid’s education.

    “Rather than assume you’ll have to pay a certain amount for educational expenses, coordinate between generations of parents and grandparents” on how much they intend to give, Kowalski said. “That way, you’re not duplicating efforts and you won’t put extra funds in a 529 plan.”

    More: 7 more ways to save that you may not have considered

    Also read: ‘We live a rather lavish lifestyle’: My wife and I are 33, live in New York City and earn $270,000. Can we retire at 55?

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  • Taylor Swift’s film opened Thursday, surprising (and disappointing) some fans

    Taylor Swift’s film opened Thursday, surprising (and disappointing) some fans

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    So much for being the first in line for the highly anticipated Taylor Swift “Eras Tour” concert film.

    With the last-minute news that the film’s release was being moved to Thursday instead of the originally announced date of Friday, some Swift fans have expressed frustration that they may have to buy tickets all over again.

    Or as one commented Wednesday on X (formerly Twitter), “you’re telling me I had to fight for my life on the cineplex website for opening day tickets just for her to add showtimes tmrw?”

    Swift revealed the change to the film’s release schedule on Wednesday, saying, “Due to unprecedented demand we’re opening up early access showings of The Eras Tour Concert Film on THURSDAY in America and Canada!!”

    Swift attended the film’s premiere in Los Angeles on Wednesday night, joined by some 2,200 fans. But on Thursday, she was back to taking in a Kansas City Chiefs game, according to an Associated Press report.

    Swift has attended other Chiefs games this season to root on tight end Travis Kelce. The pair are said to have a growing relationship.

    Some Swifties greeted the announcement of the film’s new Thursday release date with joy. “Taylor Swift always knows how to surprise us! Can’t wait for this incredible journey to begin!” said one.

    But others were disappointed that they no longer had those first-to-see bragging rights. And they suddenly were faced with the dilemma of having to buy tickets all over again if they wanted to maintain that position. In turn, that left them with the problem of what to do with the tickets they purchased for Friday showings.

    One commenter on X thought it was pretty savvy of Swift to boost the box office this way, saying the singer is “getting more sales out of her fans by moving opening night.”

    Another commenter also said this was “a smart move” on Swift and her team’s part.

    Not that theaters haven’t already sold plenty of seats for the film. The movie is set to have at least a $150 million opening, according to the Hollywood Reporter, and has buoyed the AMC
    AMC,
    +5.57%
    and Cinemark
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    chains.

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  • You just won the Powerball jackpot — what should you do next?

    You just won the Powerball jackpot — what should you do next?

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    One lucky person picked the winning $1.73 billion Powerball number in California. It is a life-changing amount of money for the lucky winner or winners — but not necessarily in a good way. 

    Robert Pagliarini, author of “The Sudden Wealth Solution,” has been guiding lottery winners for decades. And he has seen plenty of people run through their winnings faster than you can say “jackpot!” Or, friends and family (and certainly office lottery pool players) can see their winnings tied up in legal battles for years, as the parties argue over who gets how much. About 70% of lottery winners lose or spend all the money in five years or less, after all. 

    “Money — especially when you’re talking about this level of money — absolutely upends people’s lives,” Pagliarini, the president of Pacifica Wealth Advisors, told MarketWatch. “You should be excited, but you should also be prepared, for sure.” 

    These are his five tips for what to do if you win the lottery or get another windfall.

    Document that the winning ticket is YOURS

    Sign your name on the winning ticket, take a picture of yourself holding the winning ticket — in fact, take a video of yourself holding the signed, winning ticket, for good measure. 

    “The first step is really all about securing the ticket … because whoever has it is the owner,” says Pagliarini. “There’s no record of you having purchased that ticket with those numbers. So having that ticket is everything.” 

    Related: Hoping to win Mega Millions? This woman hit a $112 million Mega Millions jackpot.

    You have to document that this ticket is yours, which is why Pagliarini says legal experts recommend signing it. “I would absolutely sign it myself,” he adds. 

    And then put that ticket in a safe place, like a home safe or lockbox.

    Don’t tell anyone yet!

    You may want to sing the good news from the rooftops that your financial troubles are over. Problem is, everyone else’s troubles aren’t — and Pagliarini warns that, for your own personal safety and peace of mind, it’s better not to let the world know you’ve just become a billionaire overnight — if you can help it. Unfortunately, most states make you disclose that you’ve won.

    “We’re used to seeing people with the big check on TV, which looks pretty cool — but now everybody in the entire world knows that you’re worth $1 billion. And that’s not really the kind of publicity that you want,” says Pagliarini. “You’re going to be hit up for lots of money requests as people come out of the woodwork. And that adds such a huge amount of stress when you’re in a situation that is already stressful.” 

    You generally have 180 days to collect the winnings, and you’re going to have to make some big, life-changing decisions during that time. Staying anonymous, if you can, will give you the space to make those decisions with a clear head. 

    Unfortunately, as noted, most states compel lottery winners to come forward publicly. If you have to reveal yourself and do press interviews, protect your personal information. Some past Powerball winners didn’t answer questions about any meaningful or personal significance associated with the winning numbers that they played, for example, or they refused to share details about their children. One couple simply moved out of their house and refused to speak with the media at all while they settled their affairs.

    “My rule is basically, you tell one family member, and then you immediately try to get professional help,” Pagliarini adds. Which leads us to…. 

    Get a lawyer and a financial adviser

    Bring in the professional help as soon as you can. An attorney can help you decide the best time to claim your lottery prize, and offer more advice on keeping your ticket safe. They can also help navigate your rights and protect your best interests with regards to how much you need to present yourself publicly. And they can also help you manage your safety. 

    Meanwhile, a financial adviser can assess your financial situation and help you decide whether it makes sense to take a lump sum of cash, or to collect your winnings over annual payments. A financial adviser can also help you manage your money so that you can check things off your bucket list without overspending.

    “You know you’ve won, and then typically you have about 180 days to collect the winnings,” says Pagliarini. “So you’ve got to do some serious planning.” You need all the help you can get.  

    Do you take the lump-sum payment or the annuity payment?

    Pagliarini considers staying anonymous as the first big decision a lottery winner makes. The second most important question, however, is how they collect their winnings. Do you want to take a lump sum, or do you want to take the annuity (aka, a payout over time)?

    “This is really the biggest financial decision you’ll ever make in your entire life,” he says. (Granted, it’s one that most of us will never have to make, since the odds of winning the lottery, let alone a jackpot of this size, are infinitesimal.)  

    He notes that most people take the lump-sum payment, and in some circumstances this can be a better decision. But keep in mind that if you win a $1 billion Powerball jackpot, for example, you are not getting $1 billion.

    “They send you about 60-ish percent of whatever the lump sum is,” Pagliarini notes. So for a $1 billion prize, for example, “you would get around $600 million instead of $1 billion,” he said. And after state taxes, depending on where you live, and federal taxes, that jackpot may be closer to $300 million in the end. Whereas, the annuity is given as 30 payments over 29 years, which will come closer to hitting the advertised $1 billion jackpot than lump-sum takers would get. So being patient can pay off in the long run, especially with a bigger prize like this.

    As far as taxes are concerned, Pagliarini still leans toward annuity — especially for a smaller jackpot, like if it was $1 million. That’s because you would get a lump-sum payment of about $600,000, which would put you in the highest federal and state income tax bracket (for single filers anyway) that year — versus taking an extra $30,000 a year for 30 years. “That annuity payment is probably not going to catapult you into the highest tax bracket,” he says. But for a $1 billion-plus jackpot like this, you’re going to be in the highest tax bracket whichever payout you choose, he says.

    But there’s another reason to consider going the annuity route, Pagliarini says — it can save you from yourself. 

    “The biggest advantage of the lump-sum payout is that you get most of the money up front, and then you can do whatever you want with it,” he says, such as pay off debt, invest it, buy a house, etc. “But that actually happens to be the biggest disadvantage of the lump sum,” he continues. And that’s because, if you overspend your winnings and run out of cash with your lump sum, then you are out of luck. But the annuity payments are almost like a do-over each year, he says, because you can learn from your mistakes and spend the next annual windfall more wisely. “I’ve advised most people honestly to take the annuity,” he says. “It just allows you to really make mistakes, but have them not be a total derailment.” 

    If you still can’t make up your mind, he also has a free online quiz to help you decide whether you should take a lump sum or an annuity payment. 

    Keep it simple when deciding where to put your new money.

    So you’ve secured your ticket, tried to keep it quiet, hired some professional help, and decided how you are going to collect your winnings. Then what do you do with all of this cash? 

    Every financial situation is different, of course, which is where a financial adviser can help you sort out the nuances to make this lottery win a real dream come true for you. But in general, Pagliarini recommends keeping things simple — even considering that this $1 billion jackpot (even whittled down after taxes) would allow you to do basically whatever you wanted to do. 

    “If I were meeting with you, we would sit down and make some serious decisions, and prioritize what you want to do,” he says, “such as paying off debt, and discussing what is on your wish list. Do you want to buy a new house or a second house, or buy your family houses?” He suggests pricing out your wish list together with your adviser to see whether you could afford to do everything you want.

    But you still want money left over to live on. “We want to make sure the money left over is generating enough income so that they could survive on that for as long as they wanted — and particularly in this case, I’m sure generations would be able to survive on this amount of money,” he says. “I would invest in index funds. I wouldn’t get esoteric with limited partnerships and venture capital. Just go for a diversified portfolio, because as soon as you start deviating from ‘simple’ you can really increase your chances of just losing it all.” 

    He notes that because lottery winnings don’t feel “earned,” the prize may not feel like “real” money — which is one of the reasons so many lottery winners don’t manage their newfound wealth well. Again, about 70% of lottery winners lose or spend all that money in five years or less. “If the money doesn’t feel earned or real, you’re going to make decisions with that money that are probably not going to be in your best interest,” he adds. “You’re giving it away more freely, spending more freely, or freely investing in things a lot riskier than you would have done if you had to sweat and earn that money.” 

    So keep it simple. “Don’t think just because you have x-millions of dollars now that you really have to get ‘sophisticated,’” he adds.

    And some bonus advice for office pools

    This is more of an extra, hindsight tip for before you and your co-workers start throwing in a buck apiece for a long-shot bid at a jackpot like this. Pagliarini warns that office pools can get “tricky,” so it’s good to sign a contract setting some ground rules before you all pool together. 

    “There’s been a lot of litigation around office pools, because maybe somebody forgets to play one week, and that’s the week everyone wins. Or someone thought they played this week, but on this particular week they didn’t,” he says. “So loosey-goosey situations can end up in court to battle it out.”

    A much simpler solution to avoid this is to have an office pool contract that spells out who is in this pool, how much they are contributing, and it also determines in advance whether the group will take the lump-sum payment or the annuity payment. 

    “Because the last thing that you want is to win $1 billion or $100 million dollars, and then to be tied up in court for four years,” says Pagliarini. “That’s no fun.”

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  • Pepsi Stock Gets Rocked by Weight-Loss Drug Fears. Earnings Could Make Shares a Buy.

    Pepsi Stock Gets Rocked by Weight-Loss Drug Fears. Earnings Could Make Shares a Buy.

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    By Jacob Sonenshine

    Updated Oct 06, 2023, 2:51 am EDT / Original Oct 06, 2023, 1:15 am EDT

    Consumer-staples stocks have gotten hit hard in recent weeks, and hasn’t escaped the carnage. With the steady-Eddie beverage and snack giant set to report earnings on Oct. 10, its stock could be ready to pop.

    Continue reading this article with a Barron’s subscription.

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  • Social Security Administration to review overpayments, may claw back payments

    Social Security Administration to review overpayments, may claw back payments

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    The Social Security Administration said Wednesday it would review its overpayment procedures and policies, and may claw back any overpayments found.

    During the 2022 fiscal year, the agency recovered $4.7 billion of overpayments, according to a report by the SSA’s Office of the Inspector General. 

    While payment accuracy rates are high, overpayments do happen given the number of people the agency serves, the number of changes in their circumstances and the complexity of the programs, the SSA said.  

    “Despite our high accuracy rates, I am putting together a team to review our overpayment policies and procedures to further improve how we serve our customers,” said Kilolo Kijakazi, acting commissioner of Social Security.

    “There is misinformation in the media claiming that the Social Security Administration is attempting to collect $21 billion. This figure was derived from the total amount of overpayments that have occurred over the history of the programs,” the SSA said in a statement.

    The announcement comes the week before Social Security’s cost-of-living adjustment, or COLA, is expected to be released.

    The 2024 COLA for Social Security is expected to rise about 3.2%, according to estimates from the Senior Citizens League, a pro-senior think tank. That’s compared with an 8.7% increase for 2023, which was the highest COLA in more than 40 years amid high inflation.

    Social Security is an important benefit for most Americans. Half of the population age 65 or older live in households that receive at least 50% of their family income from Social Security benefits, according to SSA data, and about 25% of senior households rely on Social Security benefits for at least 90% of their income.

    “The government’s got to fix this,” Sen. Sherrod Brown, the Ohio Democrat who chairs a Senate panel that oversees Social Security, recently told KFF Health News on the subject of overpayments. Meanwhile, Rep. Mike Carey of Ohio, the No. 2 Republican on a House panel that oversees Social Security, has called for a congressional hearing to review the problem, according to the KFF Health News report.

    Social Security pays $1.4 trillion in benefits to more than 71 million people each year. Only around 0.5% of Social Security payments are overpayments, the SSA said.

    “For the Supplemental Security Income (SSI) program, overpayments also represent a small percentage of payments — about 8% — but are higher due to the complexity in administering statutory income and resource limits and asset evaluations,” the agency said in the announcement.

    If a person doesn’t agree that they’ve been overpaid, or believes the amount is incorrect, they can appeal. If they believe they shouldn’t have to pay the money back, they can request that the agency waive collection of the overpayment. There’s no time limit for filing a waiver.

    The SSA said it is required by law to adjust benefits or recover debts when overpayments occur. The law allows Social Security to waive recovery in some cases.

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  • Jets-Chiefs is highest-rated TV show since the Super Bowl, thanks to Taylor Swift and 2 million more female viewers

    Jets-Chiefs is highest-rated TV show since the Super Bowl, thanks to Taylor Swift and 2 million more female viewers

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    Taylor Swift continues to boost the NFL’s profile.

    NBC’s Sunday Night Football game between the New York Jets and the Kansas City Chiefs averaged 27 million viewers, making it the most-watched TV show since Super Bowl LVII in February, according to NBC’s PR team.

    Swift attended the Chiefs’ 23-20 win and was shown on the television broadcast several times, alongside celebrities Blake Lively and Ryan Reynolds. Swift has a new public friendship and rumored relationship with Chiefs tight end Travis Kelce, and the interest in that topic has led to increases in TV ratings for the two games Swift has attended, and to boosts in sales of NFL merchandise.

    Swift’s massive fanbase has influence across all ages and all types of people, but she is particularly popular among women and girls, and that group is who propelled NBC
    CMCSA,
    +0.34%
    and Sunday Night Football to such lofty viewership heights.

    “Viewership among teen girls (age 12-17) spiked 53% from the season-to-date average of the first three weeks of SNF, while the audience among women aged 18-24 was up 24%, and women 35+ increased 34%,” NBC said. “The collective growth resulted in an approximate viewership increase of more than 2 million female viewers.”

    Viewership peaked at an estimated 29.4 million viewers between 9:30 and 9:45 p.m. Eastern, as the Jets attempted to claw their way back in the second quarter of the game. Last year’s Sunday Night Football games averaged 19.9 million viewers, according to same-day data released by Nielsen and digital data from Adobe Analytics.

    In preparation for Swift’s attendance, NBC used a Swift song, “Welcome to New York,” as the theme music for its video promo of the game, which was viewed roughly 8 million times.

    Since Swift was first linked to Kelce, the Chiefs tight end has enjoyed the Taylor Swift effect. For example:

    • The “New Heights with Jason and Travis Kelce” podcast, featuring Kelce and his brother, shot up to No. 1 on Apple’s podcast charts last week.

    • Kelce’s social-media influence has flourished, with his Instagram followers jumping from 2.7 million followers to 3.8 million in about two weeks.

    • Kelce had one of the top five highest-selling NFL jerseys last week, and sales of Kelce merchandise spiked 400% on Fanatics, the NFL’s official merchandise seller.

    See also: Want to watch every NFL game this season? Here’s how much it will cost you.

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  • How to maximize your streaming in October 2023, and why Netflix is all you really need

    How to maximize your streaming in October 2023, and why Netflix is all you really need

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    It’s time to churn, baby, churn.

    The streaming scene has changed significantly over the past year or so, and for the worse: more expensive, less new programming, smaller libraries of older shows. And it’s coming at a time when consumers are being increasingly pressed by higher costs on all fronts. Prices for Disney’s ad-free tiers are rising sharply in October, and Amazon will jack up prices early next year for those who don’t want to see commercials. So it’s time for consumers to once again reassess which services are really worth paying for.

    There are three options if you don’t want your monthly streaming bill to look like your old triple-digit cable bill: bundle (you can save significantly with a Hulu-Disney+ package, for example), move to cheaper plans with commercials (ugh) or just drop the services you watch least. Pick a maximum monthly price ceiling and stick to it — at this point, most people don’t need more than two or three services anyway.

    If you’re frustrated by paying more for less, and want to make a point, cancelling a service is the one way that companies will take notice. Streaming services hate churn (adding and dropping services month-to-month) because it lowers their subscriber base and forces them to raise their marketing costs to win you back. As a consumer, it’s really your only weapon.

    Don’t like how Max keeps removing older shows? Dump it. Finding yourself watching less and less Disney+? Ditch it. It’s satisfying, it’s economical and you can always sign up again in the future.

    One benefit of streaming services is they’re a lot easier to cancel than cable. With prices soaring, now’s the time to be brutal in winnowing your subscriptions. A churn strategy takes some planning, but it pays off. Keep in mind that a billing cycle starts when you sign up, not necessarily at the beginning of the month.

    Each month, this column offers tips on how to maximize your streaming and your budget, rating the major services as a “play,” “pause” or “stop” — similar to investment analysts’ traditional ratings of buy, hold or sell, and picks the best shows to help you make your monthly decisions.

    Here’s a look at what’s coming to the various streaming services in October 2023, and what’s really worth the monthly subscription fee:

    Netflix ($6.99 a month for basic with ads, $15.49 standard with no ads, $19.99 premium with no ads)

    After a ho-hum past few months, Netflix
    NFLX,
    +0.33%
    is rolling out a more robust lineup in October. Which is nice, because no other streaming service is.

    After a two-year layoff, the French heist thriller series “Lupin” (Oct. 5) returns for its third season. Omar Sy stars as a master thief who’s now on the lam, and he carries the show largely on his charisma. It’s a fun one, and a welcome return for viewers.

    But the big-name show of the month is “The Fall of the House of Usher” (Oct. 12), from horror hit-maker Mike Flanagan (“The Haunting of Hill House,” “Midnight Mass”). The miniseries, based on Edgar Allan Poe’s classic story, combines Gothic horror with a modern twist, as the corrupt CEO of a family-owned and scandal-plagued pharmaceutical company is forced to face demons from his past as his family members keep dying, one by one, in increasingly gruesome ways. The sprawling cast includes Bruce Greenwood, Annabeth Gish, Carl Lumbly, Carla Gugino, Rahul Kohli, Mark Hamill, Henry Thomas and Mary McDonnell. This should be one to watch, if for nothing else than to finally see a Sackler-like family get their comeuppance.

    Also on the way: the seventh seasons of the raunchy animated adolescent comedy “Big Mouth” (Oct. 20) and the Spanish high school soap “Elite” (Oct. 20); “Pain Hustlers” (Oct. 27), a meh-looking satirical crime drama starring Emily Blunt and Chris Evans as scheming pharmaceutical reps; and the nature documentary “Life on Our Planet” (Oct. 25), narrated by Morgan Freeman.

    More: What’s new on Netflix in October 2023 — and what’s leaving

    And you may have missed it, but Netflix snuck in a new season of “The Great British Baking Show” at the end of September. New episodes stream every Tuesday, and feature new co-host Alison Hammond, replacing Matt Lucas, who always seemed out of place.

    Who’s Netflix for? Fans of buzz-worthy original shows and movies.

    Play, pause or stop? Play. Between some good-looking new shows, fresh eps of the “Great British Baking Show” and recent additions such as “Sex Education” (though its final season is underwhelming) and HBO’s classic “Band of Brothers,” Netflix is once again a must-have.

    Max ($9.99 a month with ads, or $15.99 with no ads)

    After a dismal September, Max has a better October lineup, with Season 2 of the beloved pirate comedy “Our Flag Means Death” (Oct. 5), starring Rhys Darby and Taika Waititi as wildly different ship captains involved in a star-crossed romance; Season 2 of “The Gilded Age” (Oct. 29), Julian Fellowes’ “Downton Abbey”-esque costume drama set in 1880s New York high society, with a sprawling cast that includes Carrie Coon, Cynthia Nixon, Christine Baranski, Morgan Spector and Louisa Jacobson; and the fourth and final season of the DC superhero dramedy “Doom Patrol” (Oct. 12).

    Notably, Warner Bros. Discovery’s
    WBD,
    +1.59%
    Max is launching its live-sports tier — the unfortunately named Bleacher Report Sports — on Oct. 5, just in time for the MLB playoffs and upcoming NBA season. The add-on tier will be free for all subscribers through February, when its price will shoot up to $9.99 a month.

    Also: What’s new on Max in October 2023 — and what’s leaving

    This is also your last chance to watch a bunch of AMC shows that are getting a two-month promotional run on Max: “Fear the Walking Dead” Seasons 1-7, “Anne Rice’s Interview with the Vampire” Season 1, “Dark Winds” Season 1, “Gangs of London” Seasons 1-2, “Ride with Norman Reedus” Seasons 1-5, “A Discovery of Witches” Seasons 1-3, and “Killing Eve” Seasons 1-4 will all leave Oct. 31. Do yourself a favor and at least watch “Dark Winds.”

    One more hidden gem to discover: Season 3 of the British rom-com “Starstruck,” which landed Sept. 28. It’s utterly charming and unwaveringly romantic, with literal LOL moments and some of the most swoon-worthy banter in recent years. Catch up with all three seasons, it’s an easy binge that’s well worth it.

    Who’s Max for? HBO fans and movie lovers. And now, unscripted TV fans too, with a slew of Discovery shows.

    Play, pause or stop? Pause and think it over. It’s an exceptionally weak month for streamers, but Max’s lineup — especially with the addition of live sports and its deep library — makes it one of the least weakest.

    Amazon’s Prime Video ($14.99 a month, or $8.99 without Prime membership)

    Prime Video has a fine lineup in October. Not great. Not terrible. But very OK.

    “Totally Killer” (Oct. 6) looks to be a cleverer-than-most spin on a horror trope, as Kiernan Shipka (“Mad Men”) stars as a 17-year-old who travels back in time to 1987 to stop a serial killer before he can start a slaying spree that terrorized her mother (Julie Bowen).

    Greg Daniels’ existential comedy “Upload” (Oct. 20) is back for its third season of rom-com exploits in a digital afterlife, thanks to uploaded consciousness. (Disclaimer: I liked Season 1, but can’t for the life of me remember if I ever watched Season 2, which doesn’t bode well, but perfectly fits this month’s “meh it’s OK” theme.)

    Meanwhile, Amazon’s
    AMZN,
    +0.90%
    free, ad-supported channel, Freevee, has the second season of “Bosch: Legacy” (Oct. 20), the “Bosch” spinoff starring Titus Welliver as a private investigator in L.A., while his daughter Maddie (Madison Lintz) charts her own path as a police officer. As gritty detective shows go, it’s solid.

    Prime Video also has a decent lineup of NFL Thursday Night Football; “The Burial” (Oct. 13), a funeral-home drama movie starring Oscar-winners Jamie Foxx and Tommy Lee Jones; all 11 seasons of the classic sitcom “Frasier” (Oct. 1), just in time for the reboot on Paramount+; as well as new eps every week of “The Boys” spinoff “Gen V” and the season finale of “The Wheel of Time” (Oct 6).

    See more: Everything coming to Amazon’s Prime Video and Freevee in October 2023

    It’s also a good time to dig into Prime Video’s extensive library, before commercials come early next year. In an obnoxious move, rather than add an ad-supported tier at a lower price, Amazon will subject all subscribers to commercials — unless they pay an extra $3-a-month ransom. Commercials will be especially annoying on Prime’s more cinematic series, so watch great-looking shows like “I’m a Virgo,” “Dead Ringers” and “The English” interruption-free, while you still can.

    Who’s Prime Video for? Movie lovers, TV-series fans who value quality over quantity.

    Play, pause or stop? Pause. There’s no a compelling reason to start a subscription now, but if you already have one, there’s probably enough to watch.

    Disney+ ($7.99 a month with ads, $13.99 with no ads, starting Oct. 12)

    After a hiatus of more than two years, Marvel’s “Loki” (Oct. 5) is finally back for its second season. The new season finds the eponymous god of mischief (played by Tom Hiddleston) bouncing across the multiverse in a battle for free will while trying to elude agents of the mysterious Time Variant Authority. Season 1 of “Loki” was one of Marvel’s better TV adaptations, and hopes are high that Season 2 can recapture that sense of chaotic fun. Owen Wilson returns as TVA agent Mobius, and Oscar winner Ke Huy Quan (“Everything Everywhere All at Once”) joins the cast, which also features Jonathan Majors as big bad Kang the Conqueror, which is… problematic. Disney is reportedly still planning for Majors to play a key role in “Loki” and the next phase of “Avengers” movies despite his arrest on assault charges earlier this year, which prompted troubling allegations of past physical and emotional abuse toward women. (“Loki” had already finished filming prior to his arrest.)

    Disney also has “Goosebumps” (Oct. 13), about a group of high school friends fighting supernatural forces as they uncover long-buried secrets about their small town in this series adaptation of R.L. Stine’s hugely popular series of spooky novels. (It’ll also stream on Hulu.)

    The “Star Wars” spinoff “Ahsoka” has its season finale Oct. 3, while ABC’s “Dancing with the Stars” will stream every Tuesday.

    Who’s Disney+ for? Families with kids, hardcore “Star Wars” and Marvel fans. For people not in those groups, Disney’s
    DIS,
    +1.15%
     library can be lacking.

    Play, pause or stop? Pause. The price of ad-free Disney+ jumps by $3 a month starting Oct. 12 — how much do you or your family really want to watch “Loki” and “Goosebumps”? It’ll be worth it for some, but an opportune time to cancel for others.

    Hulu ($7.99 a month with ads, or $17.99 with no ads, starting Oct. 12)

    Hulu has been on a fantastic run since the start of summer, but all good things must end. And it happens to coincide with a $3-a-month hike to its ad-free subscription.

    October’s lineup is weak, and heavily weighed toward Halloween-themed fare, such as Season 2 of FX’s spinoff anthology “American Horror Stories” (Oct. 26); the Stephen King thrillers “Rose Red” (Oct. 1) and “The Boogeyman” (Oct. 5); the Starz horror series “Ash vs. Evil Dead” (Oct. 1); the body-horror movie “Appendage” (Oct. 2); and “Goosebumps” (Oct. 13), a live-action adaptation of R.L. Stine’s bestselling kids’ book series (which will also stream on Disney+).

    Non-horror shows include new seasons of Fox’s “The Simpsons,” “Family Guy” and “Bob’s Burgers” (all Oct. 2), and Season 2 of the comedy “Shorsey” (Oct. 27), the “Letterkenny” spinoff series about minor-league hockey that has a surprising amount of heart to go with its absolutely filthy dialogue.

    For more: What’s coming to Hulu in October 2023 — and what’s leaving

    As an added bonus, all five seasons of ABC’s 1980s detective-agency rom-com “Moonlighting” (Oct. 10), starring Bruce Willis and Cybill Shepherd, will stream for the first time ever (legally at least). If I remember correctly, there were some really high highs but also some really low lows — but it’ll be worth checking out, for nostalgia if nothing else.

    There are also new eps every week of “The Golden Bachelor” and “Bachelor in Paradise,” the season finale of “Only Murders in the Building” (Oct. 3) and the series finale of “Archer” (Oct. 11). And if you missed it, all three seasons of “Reservation Dogs” are there and just begging to be watched, or rewatched. (It’s about as perfect as a TV series could ever be, and the recently concluded Season 3 is the best thing I’ve seen this year.)

    Who’s Hulu for? TV lovers. There’s a deep library for those who want older TV series and next-day streaming of many current network and cable shows.

    Play, pause or stop? Stop. If you’re on the ad tier, this month might be tolerable, but it’s certainly not worth $17.99.

    Paramount+ ($5.99 a month with ads, $11.99 a month with Showtime and no ads)

    Twenty years after ending its 11-season run (with 37 Emmy wins), the classic sitcom “Frasier” (Oct. 12) is back. Sort of. Kelsey Grammar returns in this revival as the pompous Dr. Frasier Crane, who’s moved back to Boston to be closer to his adult son (played by Jack Cutmore-Scott), who doesn’t necessarily want him there. The cast is mostly new, though Bebe Neuwirth (as Frasier’s ex-wife Lilith) and Peri Gilpin (his radio producer Roz) will reportedly guest star. David Hyde Pierce (Niles) and Jane Leeves (Daphne) will not return, however, which is a bummer since that’s where much of the original show’s laughs came from (John Mahoney, who played Frasier’s father Marty Crane, died in 2018). The jury’s out on this one — while in theory, it could be a refreshing update to a nostalgic favorite, the trailer is not encouraging.

    Paramount+ also has “Pet Sematary: Bloodlines” (Oct. 6), a creepy prequel to the 2019 horror reboot; “Fellow Travelers” (Oct. 27), a decades-spanning queer love story starring Matt Bomer and Jonathan Bailey; and Showtime’s courtroom drama “The Caine Mutiny Court-Martial” (Oct. 6), the late director William Friedkin’s last film, starring Keifer Sutherland, the late Lance Reddick and Jake Lacy.

    That’s on top of a live-sports lineup that includes SEC and Big Ten college football on Saturdays, NFL football every Sunday and UEFA Champions League soccer matches.

    Who’s Paramount+ for? Gen X cord-cutters who miss live sports and familiar Paramount Global
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     broadcast and cable shows.

    Play, pause or stop? Stop. There’s a good football lineup, at least.

    Apple TV+ ($6.99 a month)

    It’s another slow month for Apple
    AAPL,
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    highlighted by the miniseries “Lessons in Chemistry” (Oct. 13), based on Bonnie Garmus’ bestselling novel. Brie Larson stars as a woman in the 1950s whose dreams of becoming a scientist are scuttled by male chauvinism, and instead becomes the host of a TV cooking show, where she inspires housewives and fights the patriarchy. Apple is getting a reputation for getting big-name stars for prestige-type series, only for the shows to fizzle out and quickly be forgotten (like “Mosquito Coast,” “Hello Tomorrow” and “Dear Edward,” for starters). I have yet to see any marketing for this series, and it would not be a surprise for someone to ask six months from now: “Wait, Brie Larson was in an Apple show?”

    There’s also a new documentary from Errol Morris, “The Pigeon Tunnel” (Oct. 20), about the life of spy-turned-writer David Cornwell, aka John le Carré; and “The Enfield Poltergeist” (Oct. 27), a four-part docuseries about the supposed real-life haunting that inspired “The Conjuring 2.”

    Apple’s biggest title will be on Oct. 20 in movie theaters, with the wide release of Martin Scorsese’s “Killers of the Flower Moon,” the spectacular-looking historical drama about a series of mysterious killings of Osage tribal members in Oklahoma in the 1920s, starring Leonardo DiCaprio, Lily Gladstone and Robert De Niro. There’s no streaming release date yet, but expect it to land on Apple TV+ after its theatrical run, possibly in November but more likely in December.

    There are also new episodes every week of “The Morning Show,” “The Changeling” (season finale Oct. 13) and “Invasion” (season finale Oct. 25).

    Who’s Apple TV+ for? It offers a little something for everyone, but not necessarily enough for anyone — although it’s getting there.

    Play, pause or stop? Stop. Apple’s had a great year, but there’s just not a lot on right now. But there’s good stuff coming in November (Season 4 of “For All Mankind”) and December (Season 3 of “Slow Horses”).

    Remember, you can get three free months of Apple TV+ if you buy a new iPhone, iPad or Mac. Strategically, if you buy an iPhone 15, and wait a bit to redeem the free trial, you’ll want it to extend into January.

    Peacock (Premium for $5.99 a month with ads, or $11.99 a month with no ads)

    It’s all about horror and sports for Peacock this October.

    On the scary side, there’s Season 2 of the werewolf rom-com “Wolf Like Me” (Oct. 19), starring Josh Gad and Isla Fisher; “Five Nights at Freddy’s” (Oct. 27), a horror movie based on the videogame about a troubled security guard who starts working the night shift at a cursed pizza parlor, starring Josh Hutcherson and Matthew Lillard; and the true-crime anthology “John Carpenter’s Suburban Screams” (Oct. 13).

    On the sports side, Peacock has the Rugby World Cup (through Oct. 28), NFL Sunday Night Football, Big Ten and Notre Dame college football, English Premier League soccer, and a full slate of golf, motorsports and horse racing.

    Meanwhile, the “John Wick” prequel miniseries “The Continental” ends Oct. 6.

    Who’s Peacock for? Live sports and next-day shows from Comcast’s
    CMCSA,
    -1.16%
     NBCUniversal are the main draw, but there’s a good library of shows and movies.

    Play, pause or stop? Stop. The live-sports offerings are the only lure.

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  • Apple says it will fix app software problems blamed for making iPhone 15 models too hot to handle

    Apple says it will fix app software problems blamed for making iPhone 15 models too hot to handle

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    Apple Inc. is blaming a software bug and other issues tied to popular apps such as Instagram and Uber for causing its recently released iPhone 15 models to heat up and spark complaints about becoming too hot to handle.

    The Cupertino, Calif., company
    AAPL,
    +0.30%
    said Saturday that it is working on an update to the iOS17 system that powers the iPhone 15 lineup to prevent the devices from becoming uncomfortably hot and is working with apps that are running in ways “causing them to overload the system.”

    Instagram, owned by Meta Platforms
    META,
    -1.23%    ,
    modified its social media app earlier this week to prevent it from heating up the device on the latest iPhone operating system.

    Read: The Magnificent Seven could be considered the messy seven after a ‘meh’ third quarter

    Uber
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    and other apps such as the video game Asphalt 9 are still in the process of rolling out their updates, Apple said. It didn’t specify a timeline for when its own software fix would be issued but said no safety issues should prevent iPhone 15 owners from using their devices while awaiting the update.

    “We have identified a few conditions which can cause iPhone to run warmer than expected,” Apple in a short statement provided to The Associated Press after media reports detailed overheating complaints that are peppering online message boards.

    The Wall Street Journal amplified the worries in a story citing the overheating problem in its own testing of the new iPhones, which went on sale a week ago.

    Read: Here’s what Apple’s iPhone 15 says about the world

    It’s not unusual for new iPhones to get uncomfortably warm during the first few days of use or when they are being restored with backup information stored in the cloud — issues that Apple already flags for users. The devices also can get hot when using apps such as video games and augmented reality technology that require a lot of processing power, but the heating issues with the iPhone 15 models have gone beyond those typical situations.

    In its acknowledgement, Apple stressed that the trouble isn’t related to the sleek titanium casing that houses the high-end iPhone 15 Pro and iPhone 15 Pro Max instead of the stainless steel used on older smartphones.

    Apple also dismissed speculation that the overheating problem in the new models might be tied to a shift from its proprietary Lightning charging cable to the more widely used USB-C port that allowed it to comply with a mandate issued by European regulators.

    Although Apple expressed confidence that the overheating issue can be quickly fixed with the upcoming software updates, the problem still could dampen sales of its marquee product at time when the company has faced three consecutive quarters of year-over-year declines in overall sales.

    The downturn has affected iPhone sales, which fell by a combined 4% in the nine months covered by Apple’s past three fiscal quarters compared with a year earlier.

    Apple is trying to pump up its sales in part by raising the starting price for its top-of-the-line iPhone 15 Pro Max to $1,200, an increase of $100, or 9%, from last year’s comparable model.

    Investor worries about Apple’s uncharacteristic sales funk already have wiped out more than $300 billion in shareholder wealth since the company’s market value closed at $3 trillion for the first time in late June.

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  • Netflix officially ends DVD rentals. This is the movie inside the final red envelope.

    Netflix officially ends DVD rentals. This is the movie inside the final red envelope.

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    Netflix
    NFLX,
    +0.33%
    has officially ended its DVD-delivery service, and will allow all DVD.com subscribers to keep their discs after Friday, Sept. 29, for free.

    The streaming company announced on Friday that the last DVD the company sent out via an iconic red envelope was the 2010 film “True Grit.” DVD.com, through which Netflix has operated its legacy by-mail service, now redirects to Netflix’s primary website.

    What’s Worth Streaming: How to maximize your streaming in October 2023, and why Netflix is all you really need

    Netflix posted the following message about the end of its DVD business:

    “In 1998, we delivered our first DVD. This morning, we shipped our last. For 25 years, we redefined how people watched films and series at home, and shared the excitement as they opened their mailboxes to our iconic red envelopes. It’s the end of an era, but the DVD business built our foundation for the years to come – giving members unprecedented choice and control, a wide variety of titles to choose from and the freedom to watch as much as they want. Today, we wanted to take the opportunity to thank you for watching.”

    Despite Netflix’s primary business as a streamer, the company has still been delivering DVDs, aka “digital video discs” or “digital versatile discs,” to consumers on DVD.com. Like its streaming model, its DVD delivery service has different plan types based on customers’ needs.

    DVD.com has multiple plan offerings just like Netflix’s streaming platform.


    Netflix

    The DVD service generated $145.7 million in revenue last year, which translated into somewhere between 1.1 million and 1.3 million subscribers, based on the average prices paid by customers, according to the Associated Press. Netflix made $31.6 billion in revenue in 2022.

    Netflix announced it was planning to shut down its DVD-by-mail rental service — the service upon which Netflix was founded prior to the rise of video streaming — back in April.

    “Our goal has always been to provide the best service for our members, but as the business continues to shrink that’s going to become increasingly difficult,” co–Chief Executive Ted Sarandos said in a blog post titled “Netflix DVD — The Final Season.”

    See also: As Amazon Prime Video adds commercials, here’s how streaming services match up on pricing

    Netflix’s DVD business has dwindled in the past decade from more than $900 million in revenue in 2013.

    After years of declining revenue, Netflix Inc. announced that it will cease renting DVDs by mail.


    Uncredited

    Netflix launched as NetFlix.com in 1998, a direct-to-consumer DVD-rental company and didn’t debut its streaming service until 2007.

    Shares of Netflix are up more than 60% in the last 12 months.

    The Alliance of Motion Picture and Television Producers, which is made up of major movie studios and streaming companies including Netflix, Disney
    DIS,
    +1.15%
    and Sony Pictures
    SONY,
    -0.45%    ,
    and the Writer’s Guild of America agreed to end their months-long strike this week. Hollywood actors, represented by SAG-AFTRA, are still striking, although the union is expected to meet with the AMPTP next week.

    Netflix did not respond to MarketWatch’s request for comment.

    Read on (July 2023): Netflix criticized for posting AI jobs paying up to $900,000 while writers and actors are on strike

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  • After fighting over connected fitness, Peloton and Lululemon join forces

    After fighting over connected fitness, Peloton and Lululemon join forces

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    Peloton Interactive’s stock jumped after hours Wednesday after the connected-exercise-bike maker and yoga-wear giant Lululemon Athletica announced a five-year partnership that will combine digital fitness with workout and athleisure gear starting next month.

    The move comes as the fitness industry recalibrates after a boom and bust in at-home workouts due to the pandemic, and after Peloton
    PTON,
    +0.65%
    and Lululemon
    LULU,
    -0.40%
    tried to compete with each other directly on connected fitness. But as part of the deal, Lululemon will stop selling its Lululemon Studio Mirror — its answer to Peloton’s pairing of exercise equipment and exercise videos — before the end of the year.

    Shares of Peloton climbed 13.3% after hours Wednesday. Lululemon’s stock was up 0.3% after hours.

    Under the partnership, Peloton will become the “exclusive digital fitness content provider” for Lululemon. Lululemon, meanwhile, will become Peloton’s “primary athletic-apparel partner.” Some Peloton instructors will also promote Lululemon’s clothing as part of the arrangement.

    The partnership will target customers across North America, the U.K., Germany and Australia. Starting Oct. 11, co-branded clothing across Lululemon’s products will be available at Peloton stores and online in the United States, the U.K. and Canada, and in Peloton’s markets by March. Beginning Nov. 1, Lululemon Studio All-Access Members will have access to Peloton classes.

    “Our two companies share a vision to advance wellbeing through movement, and this partnership ensures our lululemon Studio Members will have access to the most expansive and dynamic offering of fitness content possible,” Celeste Burgoyne, Lululemon’s president for the Americas and global guest innovation, said in a statement.

    Lululemon bought Mirror — an interactive fitness company that displayed workout videos and fitness data on an actual mirror — for $500 million in 2020, when much of the world still faced pandemic-related restrictions.

    Then, lockdowns eased and pre-pandemic habits returned. Gyms reopened. Peloton started getting into trouble. It has cut jobs, shaken up leadership and announced a recall of 2 million exercise bikes due to injury risks. Shares of the company have fallen more than 90% since late 2020.

    Lululemon stock, however, has run higher since that time. Some analysts last year said that clothing made by the company was less prone to a broader apparel discounting frenzy. During its most recent round of earnings, Lululemon raised its full-year outlook despite what it called a “dynamic operating environment.”

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  • Charged for unwanted ‘Fortnite’ V-Bucks? You might be eligible for a refund. 

    Charged for unwanted ‘Fortnite’ V-Bucks? You might be eligible for a refund. 

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    Charged for unwanted ‘Fortnite’ V-Bucks? You might be eligible for a refund.

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  • A 1-liter stein of beer at Munich’s famed Oktoberfest will cost nearly $15 this year

    A 1-liter stein of beer at Munich’s famed Oktoberfest will cost nearly $15 this year

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    When merry revelers from around the world lift their beer steins to mark the start of Oktoberfest in the Bavarian capital Munich, they might want to sip slowly, given they will now be paying €13.75 ($14.67) per liter.

    That’s based on an analysis from a team at Berenberg, who provided this chart showing the soaring cost of beer at the Munich Oktoberfest compared with other consumer and food inflation measures:

    The globally famed festival is due to kick off this Saturday. And while the cost keeps rising, the celebratory large glass of Bavarian beer —- served in a stoneware mug known as a Maß, or stein — often doesn’t seem to reach the required 1-liter mark once the foam has settled, notes Holger Schmieding, chief economist, who led the report.

    “Do not even try to compare the price per liter to the cheap beer cans available at the discount retailers nearby. The difference might make some crave a stiffer drink to drown the financial pain,” he and his team said.

    Citing data from German price statistics dating back to 1991, Berenberg’s economists said the price of an Oktoberfest beer has soared at an annual average rate of 3.9%, well above the annual 2% rise in inflation and the 1.8% rise paid for beer sold by retailers.

    However, more recently the pain may have eased some. Schmieding said the price of that beer rise versus 2022 is just 4.2%, which is below the average food price rise of 9%. And German wages rose 6.6% on an annual basis in the second quarter of this year, meaning some might this year find those steins slightly little more affordable, once they get past the sticker shock.

    The country has felt the fallout from Russia’s invasion of Ukraine and soaring energy and food prices, which propelled inflation to a postwar high of 7.9% in 2022. Wage earners are currently recouping some of lost purchasing power, but Schmieding and his team warn this won’t last.

    “In a lagged response to lower headline inflation and the modest rise in unemployment that we project for the next two quarters, German wage gains will likely slow down to 4% yoy by the time of the next Oktoberfest in September
    2024, and the less volatile rise in beer prices at the party will likely outpace inflation and wages again,” they wrote.

    The European Commission recently forecast that Germany, the bloc’s biggest economy, will be the only major one to see growth contract this year, with a forecast for gross domestic product to fall 0.4% in 2023. Weak industrial output has been a major factor in sluggish growth. Inflation for the EU bloc is expected to fall to 2.9% next year, slightly under the 2.8% previously forecast.

    The European Central Bank on Thursday hiked its deposit rate by 25 basis points to an all-time high of 4% as it battles inflation for the region which it expects will average 5.6% this year, well above its 2% target.

    Schmieding and the team say Germany, however, does not deserve the “sick man of Europe” title, which it last held in the 1990s, that some have slapped on it.

    The country is, though, “nursing a collective hangover” after celebrating its “golden decade” between the global financial crisis and the pandemic onset too hard, with early retirement plans, expanded welfare benefits and too much dependence on Russian energy, they say.

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