Carmel man faces 2 federal charges in complex fraud case
Jordan Chirico is facing both criminal charges and civil litigation over his alleged connections to what authorities describe as a $200-million-plus Ponzi scheme.
Finance
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IBJ Podcast: Pete the Planner on whether buying a home is always a smart investment
It’s not at all necessary to get started right away, and there’s a navigable path for renters in the 40s to end up in a very comfortable situation by retirement.
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IBJ Podcast: She kept her job but hit the road, lived in a school bus and reclaimed her calling
Karmen Johnson explains how she kept her job with an Indy-based credit union while exploring the country—and then added a career in art after a near-fatal accident brought it all into focus.
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IBJ Podcast: Pete the Planner’s advice for Gen X’s retirement dilemmas
Gen Xers who have retirement accounts have saved on average a measly $180,000, and nearly 50% of Gen Xers don’t even have a retirement plan. Among the hot topics: When’s the best time to start taking Social Security, given that it’s headed for a funding deficit in 2033?
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About to retire? Financial advisers say flexibility is key when economy is uncertain.
A surge in baby boomers nearing 65—about 4 million Americans turn 65 this year—means more people are making tough decisions about retirement. That surge is expected to continue through 2027.
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Articles
Indianapolis-based Oak Street Funding adds $500M to loan portfolio
Oak Street, a specialty lender focused on the financial services sector, is picking up a portion of the loans acquired by its corporate parent, First Financial Bank, in a recent acquisition.
Social Security increase in line with inflation but trails key expenses
While the cost-of-living increase is in line with overall inflation for the year, it trails categories that are particularly relevant to older adults.
Pete the Planner: The road to instability is paved with rationalizations
Instability rarely shows up all at once. It sneaks in quietly, wearing the same outfit as “everything’s fine.”
Whitley Yates: Indiana vs. BlackRock: Who really holds the power?
BlackRock might buy the breaker box, but Indiana decides how the switches get flipped.
Private equity sees profits in power utilities as electric bills rise and Big Tech seeks more energy
Private investment firms that have done well investing in infrastructure over the last 15 years now have strong incentives to add data centers, power plants and the services that support them.
Credit scores getting buy-now-pay-later update. Here’s what that means.
The Federal Reserve Board reported that 14 percent of adults in fall 2023 had used buy-now-pay-later loans at least once in the past 12 months.
Mickey Kim: Moody’s downgrade points to looming U.S. debt calamity
Moody’s, S&P Global Ratings and Fitch Ratings are the three primary credit rating agencies for corporate and government borrowers. Moody’s was actually the last CRA to strip the United States of its highest credit rating.
Paid or unpaid: What employers should consider before hiring interns
Industry experts told IBJ that employers should consider legal guardrails, equity concerns, workload and external financial support when deciding whether an internship program will be compensated.
Financial advisers counsel calm amid market ups and downs
It might be tempting to make dramatic changes to your investments right now, but it’s important to resist that impulse, advisers say.
Elevate says state funding freeze endangers startups, entrepreneurial community
Commerce Secretary David Adams announced last week that the state had frozen funds earmarked for Elevate Ventures, but he did not outline specific concerns about the nonprofit or its operations.
IBJ Podcast: Pete the Planner on the Social Security cliff and potential for benefit cuts
In 10 years, Social Security won’t have enough money to satisfy all obligations to retirees. The latest projections show benefits dropping by 17%.
Pete the Planner: Why do high egg prices leave consumers feeling so steamed?
It’s about the bigger question: Are we actually seeing progress, or are we in a new normal?
Jalene Hahn: Want a productive and profitable 2025? Set priorities.
If you haven’t already adjusted spending for inflation, now might be a good time to review expenses and identify which are no longer a priority.
The 10 most-downloaded IBJ Podcast episodes of 2024
At the top of the list is host Mason King’s interview with Chick McGee, who has been a fixture on Indianapolis radio for 38 years as a cast member of “The Bob & Tom Show.”
Q&A: Allied Solutions CEO worked his way up over 35 years
Thirty-five years ago, following a career as a cryptologist in the U.S. Air Force and a stint running his own business, Pete Hilger joined the company his mother, Melissa Eldredge, founded in 1978.
Jalene Hahn: Tips to avoid making holiday spending mistakes
While Andy Williams is famous for crooning that it is the “most wonderful time of the year,” the reality is that December is the most stressful time of the year.
IBJ Podcast: Pete the Planner on the best places to stash your cash
IBJ personal finance columnist Peter Dunn details the options for keeping cash close at hand while allowing it enough space to grow, in light of the Fed’s impending decision on interest rates.
Peter Dunn: Later in life, you can still make that dream come true
What’s the monthly financial gap between your current life and the life you are aspiring to? This allows you to park the scary thoughts to the side and instead make decisions based on real numbers.
Scammers swiping billions from Americans every year, and most get away with it
Victims rarely get their money back, including older people who have lost life savings to romance scams, grandparent scams, technical support fraud and other common grifts.