Charles Schwab: Latest News

saving, spending, investing and overall wealth.According to Charles Schwab, this year’s survey of 1,000 respondents revealed there is a paradox between how people define wealth for themselves and how they define it for others. The data also demonstrated that the 48% of Americans who feel wealthy today have an average net worth of $560,000, compared to the $2.2 million they say it takes to be considered wealthy. Luxury modern minimalist house with swimming pool and beautiful sea view. via Getty Creative Images A FED PAUSE LIKELY WON'T HELP STRUGGLING CONSUMERSThe survey shows about two-thirds of Americans (62%) say being able to enjoy healthy relationships with loved ones better describes wealth than having a lot of money.

ATLANTA - A Georgia inmate accused of stealing $11 million reportedly impersonated billionaires, including a California movie mogul, while inside a maximum-security lock-up.Arthur Lee Cofield Jr., a 31-year-old gang member serving 14 years for armed robbery, is accused of using contraband cell phones from inside the Georgia Department of Corrections’ Special Management Unit to impersonate California billionaire Sidney Kimmel and open a fraudulent bank account in his name. Cofield allegedly arranged for $11 million to be wired from Kimmel’s Charles Schwab account to a company in Idaho for the purchase of 6,106 American Eagle one-ounce gold coins.Federal prosecutors believe Cofield then allegedly arranged for a private plane to transport the coins to Atlanta, where some funds were used to purchase a $4.4 million house in Buckhead.The scheme is believed to amount to one of the largest heists pulled off from inside an American prison. Sidney Kimmel (L) and Actress Amanda Seyfried arrive at the premiere of "Gone" at ArcLight Hollywood on February 21, 2012 in Hollywood, California.

US stocks were set to fall on Monday as a US-Chinese spat about the origins of the coronavirus outbreak worsened while billionaire Warren Buffett's admission he had dumped his airline shares crushed major U.S. carriers.