FCF Co. Ltd., a multinational seafood conglomerate based in Taiwan, will reportedly acquire Bumble Bee for $925 million.

Bumble Bee has sold canned seafood and other food products under a variety of different brand names, helping to make tuna a staple of consumer lunchboxes for close to 120 years. It has reportedly faced some challenges in recent years with legal issues and increasing debt problems, as well as declining demand for tuna, which it has blamed on the changing tastes of millennials.

What is price fixing?

Bumble Bee’s declaration of bankruptcy comes two years after the company pleaded guilty to fixing the price of tuna along with two other canned tuna producers, Chicken of the Sea and StarKist.

Generally speaking, price fixing occurs when competitors agree to raise the price of a product, according to the U.S. Department of Justice.  Price fixing is usually done secretly between companies that typically compete with one another, and at the expense of the consumers, who are often forced to pay higher prices. The practice is illegal, according to the Federal Trade Commission, a federal agency charged with consumer protection.

The Department of Justice fined Bumble Bee $25 million for price fixing that occurred between 2011 and 2013. Bumble Bee still owes $17 million of that fine, according to its news reports. Bumble Bee also faces civil lawsuits related to its role in price fixing from companies including Sysco and U.S. Foods.

It also reportedly owes FCF, its potential buyer, $50 million for business expenses.

Did millennials kill the tuna sandwich?

Despite its debt problems, some canned tuna companies have blamed millennials for the “death” of the tuna industry. In fact, per capita consumption of canned tuna has fallen 42% during the 30 years up to and including 2016, according to the Wall Street Journal.

Research also indicates that 32% of people between the ages of 18 and 34 have recently bought tuna, compared to 45% of people 55 years and older, according to a 2018 Mintel study. 

*Source: Mintel

Millennials have been lampooned for eating avocado toasts and for killing a variety of other classic foods including American cheese, cereal, and even raisins. Most recently, millennials were blamed for killing the milk industry, when milk producer Dean Farms declared bankruptcy.

Between 2012 and 2017, sales of dairy milk fell 15% while sales of non-dairy milk alternatives increased 61%, according to a Mintel study.

StarKist’s CEO Andy Mecs has reportedly said that millennials aren’t buying canned tuna because they “don’t even own can openers,” and therefore can’t open canned tuna.  In reaction, companies including StarKist and Bumble Bee have started selling tuna in millennial-friendly pouches.

Traditional tuna producers are also combatting the emergence of tuna manufacturers such as Wild Planet Foods, which allegedly produce more sustainable and environmentally friendly tuna.

The post Here’s the Buzz on Bumble Bee’s Bankruptcy appeared first on Stash Learn.

But perceptions may soon change. In addition to becoming the most populous generation in the U.S., millennials will soon become one of its wealthiest groups.

A new report from the real estate company Coldwell Banker says the millennial generation now has 618,000 millionaires (nearly half of them in California), and they are expected to inherit a staggering $68 trillion from their Baby Boomer parents. The Baby Boom generation is considered the richest in history.

And this year, the number of millennials will also increase to 73 million, while the number of Baby Boomers—previously the largest generation—will decrease to 72 million. Meanwhile, by 2030, millennials in the U.S. are expected to control $20 trillion of wealth, five times what they have today, according to a new report from venture capital research firm CB Insights.

Apart from being a huge generational group, millennials are also a big opportunity for businesses, as they are currently one of the largest consumer segments.

Here’s a closer look at who millennials are:

• Millennials had a collective buying power of approximately $600 billion annually in 2017, an amount that’s estimated to more than double by 2020, according to business consultancy Accenture. Their purchases make up about 30% of all retail sales, according to the study.
• Millennials are more likely to purchase things on impulse, according to other consumer research, and they are more likely to purchase things using subscription plans, such as beauty products, meal plans, and apparel services. As opposed to one-time purchases, subscription plans insure a continuous stream of income for the companies that offer them.
• Helped by low-interest rates and aging into their peak buying years, millennials are also expected to fuel a new wave of home and car buying, as they shift away from more discretionary, or smaller, purchases such as iPhones, microbrewery beer, and—yes—avocado toast.

Millennials also struggle financially

The Coldwell Banker report contrasts with other data that suggests millennials struggle to find jobs and have high amounts of student loan debt, as well as low home-ownership rates, among other difficulties.

• The average millennial reportedly earns about $35,000 annually and has $30,000 of student loan debt.
• Homeownership rates for millennials, who are currently between the ages of 25 and 34, are actually about 8% lower than older generations when they were the same age.
• Millennials, especially men of this generation, have a higher unemployment rate than the national average.

The generations defined

Each generation has its own characteristics, but sometimes these are turned into stereotypes, often for marketing purposes.

The post Want to Be a Millennial Millionaire? appeared first on Stash Learn.

For most people, that probably means years of scrimping and saving for a downpayment, to make the jump from renting, or living at home with parents, to finally having a place of their own.

But nearly a quarter of first-time home buyers said they’d give up something much bigger if they could get help with their downpayment: the right to vote.

You heard that right. That’s according to equity investment company Unison Home Ownership Investors, which polled 1,000 potential homeowners in April, asking them what they’d sacrifice if someone gave them half the standard 20% down payment.

A big financial decision

Certainly, a home purchase is probably the biggest financial decision most people will ever make. And with home values seemingly zooming ever skyward, buyers will have to pay hundreds of thousands of dollars, on average, and spend years paying off their mortgages. Purchasing a home requires aggressive saving to come up with money for a down payment.

The median cost of a home for sale nationwide is $268,500 according to real estate listings site Zillow, and there’s a growing affordable housing crisis caused by a lack of new building, according to this report by CityLab.

Other things people would sacrifice

While giving up the right to elect the next president is pretty extreme, here’s what else people would sacrifice for help on that 20% down:

The survey took a dive into differences by age and gender too.

More millennials would sacrifice right to vote

It turns out millennials may be more desperate than other age groups. Twenty-six percent of this demographic said they’d give away their right to vote for help purchasing a home, compared to 20% of GenXers and 7% of Baby Boomers.

Women, on the other hand, are less likely to give up their right to vote, with 21% saying they’d give it up for that downpayment, compared to 24% of men.

So what are the biggest barriers to homeownership? Money. Other reasons include low credit scores, cited by 37% of respondents, as well as high rental costs that prevent them from saving, flagged by more than a quarter of the survey sample. Nearly 40% said debt from student loans, credit cards, and auto loans hindered them.

Two-thirds of people who plan to buy in the next two years said they had less than $7,000 saved to take the dive.

Homeownership is hot

And here’s something else to think about, for single people who already own their own homes: Nearly 60% of respondents said they would be more likely to marry someone who already owned their own house.

No need to sacrifice your right to vote! You can start saving for your down payment today.

The post Would You Give Up the Right to Vote to Own Your Own Home? appeared first on Stash Learn.

While most people know they need to begin saving for retirement at some point, many Millennials aren’t sure when, exactly, they need to get started.

Is it too early to start saving for retirement if you’re still in your 20s?

Quit believing the stereotypes

As a Millennial, you probably know that other generations don’t exactly have the highest opinion of you. Millennials are often considered hopelessly lost to the point that they don’t even know where to get started with common “grown-up” goals like setting aside money for retirement.

We know that this just isn’t the case.

While it’s true that 62% of Americans have less than $1,000 in their savings accounts, it appears as though that Millennials may actually be the ones keeping that percentage from being a lot higher.

They are beginning to save at just 23, which is a lot sooner than the Baby Boomers did.

So, just because you’re part of the younger generation, don’t use that as an excuse to put off saving for retirement. You’re doing a lot better than people say you are.

And as it turns out, most of your fellow Millennials have already gotten started.  

The sooner you begin saving, the better

The idea that you can be too young to start saving is a fallacy with extraordinary repercussions. It could literally cost you thousands – maybe millions of dollars – if you make the mistake of believing this.

So, in a word, “no” it is not too early to begin saving for retirement if you’re in your 20s.

There’s one major reason for this:

Understanding compound interest

The sooner you begin saving money, the sooner compound interest will begin growing it.

Most people are familiar with simple interest. If I lend you $1,000 and charge you 5% interest, you’ll owe me the initial sum plus an additional $50 in interest.

Compound interest is basically interest applied to interest and it’s really at the heart of what makes long-term investing profitable.

Investments generally don’t come with simple interest, but in the scenarios where they do, you’d receive the same set amount every year.

For example, if you invested $1,000 at 10% simple interest, you’d get $100 at the end of that first year. At the end of the next year, you’d get $100 more. At the end of the third year, you’d get $100 more and so on and so forth.

Now, if you had 10% compounding interest, you’d receive $100 at the end of the first year, but at the end of the second year, the 10% rate would be applied to the $1,100 you now have. So, you’d receive $110. The third year, the 10% would be applied to $1,210, giving you $121 for a total of $1,331.

This compounding interest would continue until you finally withdraw your money.

Learn more about saving vs. investing here.

Setting aside a certain amount a month, no matter what

Start with whatever amount you have at the moment. If all you can afford is $10 a month, that’s better than nothing. The power of compounding interest will help grow that amount over time.

Just try to forego a couple cups of coffee from Starbucks or a trip to a fast food restaurant and you’ll easily have that amount every month to set aside for retirement.

As time goes on, the benefits of disciplined monthly investing will really begin to show.

One Millennial’s journey

Let’s take a look at an example of how much money you can set aside simply by getting started early.

Dave is a 23-year old who has decided to begin setting aside money for retirement.

He’s chosen a Roth IRA for his retirement account because he likes the idea of a tax-deferred account. Specifically, what that means is that when he’s ready to withdraw for retirement, he won’t have to pay any taxes.

Fresh out of college, he only makes about $1,100 a paycheck after taxes are taken out. After rent, car payment, student loan payment, utilities, gas, and food, he only has about $400 leftover for everything else.

That’s not a lot, but Dave decides to take just $100 of it and put it towards his Roth IRA every month.

Thanks to compounding, he’ll have approximately $276,758 waiting for him when he retires at 65. That’s assuming a 7% return, (the average for the period 1950 to 2009, if you adjust the S&P 500 for inflation and account for dividends) and that he never increases the amount he contributes once he pays off his loans and/or receives a raise.

If he waited just four years to get started, that total drops down to $207,073. Just four years of waiting cost him nearly $70,000. If he decides to hold off until he’s 30, he’s now at just $153,510.

It’s important to note that while this may represent a realistic rate of return in today’s economy, past results may not guarantee future results.

Start saving today with a Roth IRA on Stash 

One of the easiest ways to begin investing in your retirement is with a Roth IRA. At Stash, we can make it even easier to get started.

Want to learn more about what you expect to have saved by retirement? Check out our retirement calculator.

The post Is it Too Early To Save for Retirement? I’m in My 20s appeared first on Stash Learn.

The financial site GoBankingRates recently surveyed 5,000 adults to find out what they wished they’d done differently with with their wallets in 2017.

Here’s what they learned:

People wish they had saved more money

The good news is that Americans appear to be saving more money than they used to. While 57% said they had less than $1,000 in their savings accounts in 2017–that’s an improvement from 2016 when 69% reported having less than $1,000.

11% regretted falling into debt in 2017

The bad news: 36% reported they have no savings at all, up from 34% last year. So not surprisingly, savings woes topped the list of financial regrets. More than a third of all Americans said they wished they’d been better savers, according to the survey.

Another top regret? Spending too much money on things they didn’t need. Twenty-three percent of respondents said that they regretted spending too much on non-essentials.

People also wish they’d stayed more in the black–11% regretted falling into debt in 2017.

(On a related note, one third of Americans have $0 saved for retirement, according to a March survey from GoBankingRates.)

People wish they’d invested

In 2017, there was also a lot of remorse about staying on the sidelines as the stock market roared ahead.

Eleven percent of survey respondents said not investing in the stock market was their biggest “if only.”

While many may look on in wonderment at the stock market’s 2017 rally–with indexes such as the S&P 500 up 19.5% year to date as of December 15*–it was mostly wealthier Americans who benefitted.

Nearly 94% of the top income earning families owned stocks in 2016 versus about one-third of lower income families, according to a report put out by the Federal Reserve in September.

Younger Americans have remained cautious since the Great Recession. Less than a third of Americans between the ages 18 and 29 owned stocks since 2009, according to a Gallup survey released in early 2017.

Resolutions for 2018

If being better with your money was your top resolution in 2017 –as it was a top concern for many Americans–consider January 1, 2018 an opportunity to make a fresh start and rededicate yourself to saving and investing.

Rather than looking back with anger at yourself for not making smarter financial decisions, or stewing over the money you didn’t save, let’s wipe the slate clean and start Stashing for a better future.

The post Many Americans Say Not Saving and Investing Are Top Regrets appeared first on Stash Learn.

A third of student loan borrowers report that their debt has decreased their sex drive, according to a new study by Student Loan Hero, an online resource for student borrowers.

Researcher Shannon Insler dug into the love lives of more than 1,000 people with student loan debt after completing a study in September about the physical manifestations of debt stress. She was surprised when—in addition to gastrointestinal problems and headaches—respondents in the study described their diminished libido.

Lying about debt

Insler also found that:

• Over a third of student loan borrowers have lied about their debt to their partner.
• A quarter have kept it a secret from their partner.
• 18 percent said it’s okay to lie about money.

Talking about student loan debt shouldn’t be shameful, especially considering that 70 percent of graduates are coming out of school with loans to pay, and more than 44 million Americans have student loan debt.

What’s more, the average student loan debt is $30,156, totalling $1.4 trillion in outstanding student loan debt, according to The Federal Reserve.

The solution to all this: More communication and less guilt.

“I don’t think it should be a taboo topic,” Insler says. “If I’m sitting in a coffee shop and I hear people talking about finances, I want to give them a high five.”

Debt doesn’t have to be a dealbreaker

Debt shouldn’t be perceived as a red flag for people looking for (or seeking) love. In fact, the study shows that people are open to choosing a partner with debt.

Over a third of student loan borrowers have lied about their debt to their partner

Seventy-two percent of respondents said having a partner who can budget properly is one of the most appealing financial traits. Less than a third said having no student loan debt was the most important qualification. (Only 9 percent are looking for a partner with a trust fund, by the way. Huzzah!)

“If the love of your life has a ton of debt, you can figure it out,” says Erin Wiley, a licensed therapist based in Toledo, Ohio who worked with the researchers.

Insler found the focus on good financial habits encouraging.

“They’re looking at the bigger picture,” Insler says of respondents. “It’s more important how their partner manages the debt than whether they have it at all.”

Don’t let debt destroy a good thing

The study also corroborated other research showing that debt worries lead to postponed relationship milestones.

Insler found that 46 percent of respondents delayed starting a family, 35 percent delayed talk of marriage, 25 percent delayed moving in together, and 13 percent even delayed a first date.

“Everyone’s so stressed about their future and their own financial capabilities that they don’t want to tie themselves to anyone,” Insler says.

But again, perhaps borrowers need not feel so much shame. Even among millennials and the subsequent Generation Z, known for its financial pragmatism, money isn’t close to the most important trait in a partner, according to Wiley.

People still value traits such as kindness, a sense of humor, and the ability to enjoy life as traits they’re looking for.

Often, money and lack of debt are not even on the list, Wiley says.

The post Don’t Let Student Loan Debt Ruin Your Relationships appeared first on Stash Learn.

They do say that. Really.

Okay fine, it’s been an accident, one that feels all too common among millennials. In my cohort, it always seems like women have careers, whereas men seem to have have gigs and high hopes for their fantasy leagues. To wit: After ten plus years in New York City, I’ve gone out with only two guys who made more than me—and I’m a writer.

The other dozen or so haven’t come close. One worked at a cheese shop, two were artists, one was a part-time tutor, one sold drugs out of a pantry covered in dolphin stickers, you get it. One was a freelance science journalist who may have made okay money, but he faked his own death before I could find out. (Dating in New York, amirite ladies?)

Buying blocks of cheese instead of pre-cut or pre-shredded will save you potentially hundreds of dollars a year.

Each one of these beautiful, perfect angels had his own life hack to survive on a pittance. Some were useful, some were sweetly pathetic and others were just, well, straight up pathetic.

Here they are—for practical application, (or just to make you feel better about where you’re at in life):

Sleep until 3pm to avoid paying for pesky breakfast and unnecessary lunch. Can you survive on one pack of ramen a day, plus whatever the girl you’re dating brings over from her fridge? The answer is yes.

Buy cheese in blocks. Okay, this is actually a good one. If you’re a cheese monster like I am, buying blocks of cheese instead of pre-cut or pre-shredded will save you potentially hundreds of dollars a year. (Too bad the guy who showed me this trick drank all my good bourbon.)

Live in a closet. One guy’s bedroom was a walk-in closet. People rent those out, at least in New York. To be honest, lying on his twin-sized floor mattress with his shirts hanging over our heads felt a little romantic, like we were kids pretending to be grownups. He was in his 30s, though. Still, it was very thrifty and I was devastated when we broke up.

Argue when dissatisfied. I used to think complaining was too big of a hassle if a product arrived late in the mail, or had minor damage. Whoops. One innovative ex-boyfriend with time on his hands taught me that customer service reps will often offer refunds or store credit, even for minor inconveniences. Just be kind when you do this, for karma’s sake.

Learn to be quirky. Wearing two different shoes can make you look insane, unless you embrace a D-I-Y aesthetic and call yourself an artist. If you do things with confidence—for example, dress like you just washed up on shore from a 19th century shipwreck—people don’t question your choices.

Say “I DON’T HAVE ENOUGH MONEY FOR THAT.” This one is actually very helpful. I used to be too embarrassed to admit when something was out of my budget, but after seeing several guys do this so brazenly, I decided to try it. It’s definitely more liberating than shameful.

Coupon apps. My current boyfriend is obsessed with coupon apps like Ibotta, and now I am, too. Even better, most new apps/startups give you amazing deals to entice you to join, like $25 off your first order or free delivery. Lately, I’ve been downloading all kinds of apps and using coupon codes I see advertised around the city.

Buy generic. Except for Q-Tips. Trust me on this.

Be a man. This is only sort of a joke. All of my exes were charged less than women typically are for so many products , including pharmacy items, haircuts, and clothes. The Pink Tax is REAL, it’s infuriating for the budget-minded.  However it’s inspiring me to embrace my androgynous side. I’ve just bought my first two pairs of boys’ shoes for a combined total of $36.

Next on my list: men’s skincare items.

The post Money Saving ‘Tips’ I Learned From My Broke Ex-Boyfriends appeared first on Stash Learn.

May is Military Appreciation Month, so we took a deeper look at the thousands of Stashers on our platform who are in the armed forces. It turns out that military Stashers are fantastic investors. In fact, they’re more disciplined investors than the average Stasher.

Military Stashers are great at Auto-Stash

Auto-Stash is a feature that allows Stash users to invest automatically, picking a certain amount to invest, and the frequency with which they would like to make the recurring investments.

Previous data analysis has shown that Stashers with Auto-Stash on have almost triple the savings after one year than a Stasher without the feature turned on.

“We found that our military Stashers are almost twice as likely to use Auto-Stash,” said Michael Gartner, Stash’s in-house data scientist.

Long term investors

Military Stashers are also more likely to be investing for the long-term. Stash is about investing, not trading. Military Stashers are doing just that, indicating that they intend to use their investments further into the future than the average Stasher.

Stashing younger

The average military Stasher is only 27 years old, compared with the average Stasher, who is 30. Why is that three years important? Despite being an average of three years younger than the average Stasher, military Stashers are proving themselves to be savvy, thoughtful investors, ahead of their years, and their nonmilitary peers.

Military Stashers are more likely to invest for the long-term.

“It was amazing to find that, despite being younger, on average, our military users are exhibiting great investing behavior,” Gartner said. “Overall, when you look at the numbers, they are better Stashers, and at a younger age, which means that their future as investors is looking pretty bright.”

How are military Stashers investing?

To start, military Stashers are investing in the Mixes, Blue Chips, Delicious Dividends, and Roll with Buffett, all investments that are popular across the platform with all Stashers.

However, military Stashers are slightly more likely to invest in Aggressive Mix than your average Stasher, and seem to be favoring American Innovators more than the average Stasher.

They are also putting their money where their morals are. They are 8% more likely to be investing in Defending America than their civilian counterparts.

Thank you for being such amazing investors, and for choosing Stash as part of your financial journey.

The post Stashing While Serving: Military Stashers Are Saving Beyond Their Years appeared first on Stash Learn.

Do you want your investments to support companies with an eye on the greater good as well as their bottom lines? You might want to consider them in your investment portfolio.

Buzzwords: ESG, SRI, and screens

Investing strategies and investments that consider factors like sustainability, workplace equality, and political impact are often called ESG (environmental, social, and governance) or SRI (sustainable, responsible, and impact).

Both of these categories focus on similar factors. The main distinction is that ESG investing is often based on inclusionary screens, while SRI investing is based on exclusionary screens.

Survey: 71% of all investors surveyed were interested in some form of sustainable investing

Screens are how an investment is included or excluded from a portfolio or fund. If a company is creating an index, they can chose to include and exclude certain investments based on a number of factors.

If an investment or index wants to focus on sustainability? That’s an inclusionary screen. If it wants to avoid companies that have a bad track record with workplace equality? That’s an exclusionary screen.

Some factors that are considered in order for something to qualify as an ESG investment:

Environmental: Resource utilization, sustainability office, environmental impact
Social: Corporate philanthropy, working conditions, progressive and inclusive HR policies
Governance: Reporting and disclosure, product recalls, balance of powers

Who is ESG investing for?

In 2015, Forbes partnered with the news site Elite Daily to conduct a Millennial Consumer Study. The data revealed that 75% of Millennials think that “it’s either fairly or very important that a company gives back to society instead of just making a profit.”

A 2015 TIAA Survey found that 90% of Millennials agreed that “I’d like my investments to deliver competitive returns while promoting positive social and environmental outcomes.”

The survey also indicated that 76% of Millennials care more about having a positive impact on society than doing well financially. (Only 42% of non-Millennials felt similarly.)

A recent Morgan Stanley survey found that 84% of millennial investors are interested in sustainable investing. It also stated that, “female investors are more likely to factor sustainability into their investment decisions and are more likely to see the advantages of doing so.”

But it’s not only Millennials that seem to prioritize these factors.

While the aforementioned survey made it clear that almost all Millennials are down with ESG, it also found that 71% of all investors surveyed were interested in some form of sustainable investing.

Interestingly, Europe is leading the charge when it comes to ESG investing. In 2014, “58.8% of European invested assets already are invested in a sustainable way, compared to 31.3% in Canada and 17.9% in the United States*.”

Do I have to sacrifice returns?

While every fund is different and has risks that must be weighed on a case-by-case basis, many leaders in the investment field are optimistic about ESG investing.

“Over time, high ESG scores tend to result in positive effects on investment performance,” Sharon French, head of Beta Solutions of OppenheimerFunds, wrote on the company’s blog last month  “It’s not only about changing the world, it’s about understanding how the world is changing.”

Morningstar, a provider of independent investment research, dedicated their entire December/January issue to sustainable investing: “Sustainable Investing Takes Off.”

“I believe that investing itself is a socially conscious act. It means deferring gratification today for greater security and opportunity for yourself and your loved ones tomorrow,” says Don Phillips, managing director for Morningstar.

ESG investing on Stash

Excited about investments that focus on sustainability and social responsibility? There are options available to you on Stash. Explore more here. 

The post Do You Know About ESG Investments? Investing as Social Activism appeared first on Stash Learn.