Here's the Maximum Social Security Benefit in 2021


The Motley Fool 02 July, 2021 - 06:15pm 47 views

Is Krispy Kreme going public?

Krispy Kreme returns to the public markets Thursday, the morning after pricing 29.4 million initial public offering shares below the expected range at $17 per share. The IPO raised nearly $500 million, valuing the donut chain at $2.7 billion. cnbc.comFull interview with Krispy Kreme CEO on going public again, growth outlook and more

When did Krispy Kreme go public?

On April 5, 2000, the corporation went public on the NASDAQ at $21 using the ticker symbol KREM. On May 17, 2001, Krispy Kreme switched to the New York Stock Exchange, with the ticker symbol KKD, which it carried until its private acquisition. wikipedia.orgKrispy Kreme

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If you're retiring and you qualify for Social Security's maximum benefit, you could pocket $3,895 per month in Social Security income in 2021. You'll only collect that much money if you begin receiving benefits at 70 years or older, though. The maximum amount you can collect this year if you file at age 62 is $2,324, and the maximum paid if you're 66 is $3,113.

However, you should know Social Security's formula is complex and collecting the maximum benefit depends on many things, including the length of your work history. Here's how Social Security calculates maximum benefits and what you can do to get the biggest possible payout.

Social Security benefits are based upon how many years you work, the amount of money subject to payroll taxes you earned over your career, and when you first start receiving benefits.

You can start collecting benefits as young as age 62, but you'll only receive 100% of your benefit amount if you claim Social Security at full retirement age, which ranges from age 66 to age 67 for people born after 1943. If you claim earlier than full retirement age, your benefit amount is reduced. If you claim later than full retirement age, your benefit is increased because of delayed retirement credits

To determine if you qualify for Social Security's maximum benefit, Social Security adjusts your historical annual income for inflation and then calculates your average monthly income based upon your highest 35 earning years. If you don't have 35 years of income, zeros are included in the formula for those years, reducing your benefit and ensuring you won't qualify for the maximum possible amount.

Once Social Security has calculated your average monthly income, it reduces that amount at specific income levels called bend points to determine your primary insurance amount, or the benefit you'll receive if you claim at full retirement age.

As I mentioned, if you claim earlier than full retirement age, then your primary insurance amount is reduced. Specifically, it's lowered by five-ninths of 1% per month for the first 36 months you claim early and by five-twelfths of 1% for every additional month you claim early. Alternatively, if you delay claiming benefits until after full retirement age, your benefit is increased by two-thirds of 1% for every month you delay, up to age 70, because of delayed retirement credits. This is why the maximum benefit payable varies depending on how old you are when you first file for Social Security.

Social Security's formula makes qualifying for the maximum benefit tough. Not only will you need to have a 35-year work history, you'll also need to have earned income at or above the annual taxable limit in all of those years. That's no easy feat given the average American worker is earning about $51,000 per year, yet the maximum taxable limit for Social Security is $142,800 in 2021.

Nevertheless, there are strategies you can use to make sure you get the biggest benefit possible even if you don't qualify for the maximum Social Security amount. 

For example, working at least 35 years eliminates zeros in your average monthly income calculation and delaying retirement may allow you to replace lower income earning years from the beginning of your career with higher earning years later in life, boosting your benefit, too.

You can also wait until age 70 to start receiving benefits to capture increases associated with delayed retirement credits. The difference between claiming benefits at age 62 and age 70 is substantial. For example, if your full retirement age is 67 and your full retirement benefit is $1,000, then you'd only receive 70% of your full retirement age benefit, or $700 per month, if you claim at age 62. However, if you wait to claim until age 70, you'd receive 124% of your full retirement benefit amount, or $1,240 per month. That's 77% more money than you'd collect at age 62.

Because qualifying for the maximum Social Security benefit is so hard, the amount you're entitled to may fall short of your retirement goals. Consider this point: The average retired worker is collecting just $1,554 in benefits in 2021, or about $18,644 per year. That's not chump change, but it's probably not going to allow you to live a life of luxury, making it important to consider Social Security planning strategies.

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Krispy Kreme CEO addresses low IPO pricing

Yahoo Finance 03 July, 2021 - 04:20am

Krispy Kreme releases chocolate and caramel versions of its famous glazed doughnuts

Daily Mail 03 July, 2021 - 04:20am

By Belinda Cleary For Daily Mail Australia

Krispy Kreme have sent foodies into a frenzy after releasing chocolate and caramel glazed doughnuts.

The popular doughnut chain released the two new flavours on Tuesday after teasing they had 'something new glazing' over their Instagram, inspiring foodies.

But not all foodies were impressed by the new sweet offering with one woman giving the four-pack of treats a score of just 6.5 out of ten.

Krispy Kreme have sent foodies into a frenzy after releasing chocolate and caramel glazed doughnuts

These flavors don't really excite us,' the foodfindsgeelong blogger said in a post.

'Chocolate- Surprisingly this isn't as chocolatey as we were expecting, it's okay but pretty meh,' she said in her brutal appraisal.

'Caramel - Definitely better than the chocolate but it kind reminds me of like any average caramel iced donut flavor, still good but wish it was salted,' she said.

The average score and scathing comments came after the foodie revealed she was thrilled to see the doughnut company bring out new flavours.

'I'll start by saying how much I love glazed doughnuts so this review could be bias,' she laughed.

The four packs, which contain both caramel and chocolate flavoured doughnuts, can be found at 7eleven stores as well as Krispy Kreme stores.

But not all foodies have been left convinced by the two new flavours

And the scathing reviews continued by the foodie's fans in the comments.

'The chocolate looks like a poor mans polish job on car...How can it be called glazed when it looks somewhat naked?' one man wrote. 

'The chocolate one looks old AF?? Are they meant to look like that?' one woman asked.

The doughnut giant announced the new flavours on Tuesday, exciting their fans.

'Very well done Krispy Kreme,' one woman said on the company's post.

Some said the caramel was better than the chocolate but still lacked something special

Others said the new creations, released this week, were delicious in every way

'Finally some new flavours. I'll be picking these up this week,' another man added. 

 'I will take one for the team and nip out and try one. Doughnuts are an essential service aren't they?' another person joked.

Others were hoping for the return of their favourite flavours, like blueberry and mud cake when the company teased the announcement hours earlier.

'This isn't what I expected or hoped for, but I'm not mad,' one woman said. 

 248 people liked the review left by the Geelong Food Finds team, while tens of thousands liked the company's own announcement of the new flavours.

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Krispy Kreme marks second IPO on NASDAQ, priced at $17

Fox Business 03 July, 2021 - 04:20am

Krispy Kreme Stock Gains Nearly 24% in IPO

Barron's 03 July, 2021 - 04:20am

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Krispy Kreme led a group of six companies to the public markets on Thursday.

Besides the doughnut chain, Acumen Pharmaceuticals, D-MARKET Electronic Services & Trading, Evercommerce, Torrid Holdings, and the Glimpse Group made their stock-market debuts.

So far this week, 17 companies, including those six, have listed their shares. There are no initial public offerings on tap for Friday because of the holiday weekend. On Wednesday, 10 companies went public, with Didi Global, the Uber of China, trading flat and closing at $14.14, 14 cents above its offering price.

On Thursday, Acumen Pharmaceuticals (ticker: ABOS) was one of the first to begin trading. The stock opened at $25.07 and closed at $20.10, up nearly 26% from the offering price.

The solid performance came after Acumen increased the size of its deal by nearly 20%. The biotech company, which is developing therapies to treat Alzheimer’s disease, collected about $160 million. It sold roughly 10 million shares at $16, the top of its $14-to-$16 range.

The Glimpse Group (VRAR), which develops and commercializes virtual and augmented reality software products, also opened. Shares kicked off at $11.75 and ended at $17.66, up 152% from its offer price. Glimpse delivered Thursday’s smallest deal. The company collected $12.3 million, after selling 1.75 million shares at $7, the midpoint of its $6-to-$8 price range.

Torrid Holdings (CURV) shares rose 15% from the offer price to close at $24.15. The direct-to-consumer retailer of plus-sized women’s clothes increased the size of its deal twice. It filed to offer 8 million shares at $18 to $21, which it boosted Wednesday to 10 million. It ended up selling 11 million shares at $21, the top of its expected range, raising $231 million. Sycamore Partners, the retail-focused private-equity firm, will own nearly 76% of Torrid after the IPO. 

Krispy Kreme (DNUT), the most well-known of Thursday’s group, kicked off at $16.30 and ended at $21, up nearly 24% from the offer price. The doughnut chain increased the size of its deal by 10% but priced it well below its expected range to raise $500 million. Krispy Kreme had planned to offer 26.7 million shares at $21 to $24 each, but ended up selling 29.4 million shares at $17 each. JAB Holding, the European investment firm, will own about 39% of Krispy Kreme after the IPO

D-Market Electronic Services & Trading, or Hepsiburada (HEPS), jumped nearly 12% from its offer price to close at $13.43. Hepsiburada, which means “you can find anything you want here” in Turkish, is a leading e-commerce platform from Istanbul. The company raised $680 million after selling 56,740,000 American depositary shares at $12 each, the midpoint of its $11-to-$13 price range. Each ADS represents one class B ordinary share.

Lastly, EverCommerce (EVCM) stock opened at $20, but slipped back to close nearly 4% above its offer price at $17.60. EverCommerce’s IPO came in at $325 million after the comp[any sold 19.1 million shares at $17, the middle of its $16-to-$18 range. The company provides software for small and midsize service businesses.

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Krispy Kreme led a group of six companies to the public markets on Thursday.

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Krispy Kreme sinks following a 24% surge on its first day as a public company

Markets Insider 03 July, 2021 - 04:20am

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Krispy Kreme Cools Off in Second Day of Trading

TheStreet 03 July, 2021 - 04:20am

The Charlotte company had priced its initial public offering at $17 and on Thursday opened trading at $16.30.

Krispy Kreme shares at last check were off 4.3% at $20.09. 

Krispy Kreme sold more than 29 million shares in the IPO, more than the planned sale of 27 million. The stock has a valuation of just below $2.8 billion.

The popular doughnut chain is controlled by JAB Holding, the Luxembourg group that also owns Panera Bread and Pret A Manger. 

JAB will continue to own nearly 78% of the stock after the IPO.

“Over its 83-year history, Krispy Kreme has developed a broad consumer base, selling 1.3 billion doughnuts across 30 countries in fiscal 2020,” which ended Jan. 31, the company said in its prospectus.

The IPO market set a record in the second quarter. According to a Renaissance Capital report, 113 IPOs raised $39.9 billion in Q2, marking the "busiest quarter for IPOs in over two decades."

Krispy Kreme Is a Classic Case of Love the Brand, Don't Love the Stock

RealMoney 02 July, 2021 - 08:30am

Krispy Kreme's (DNUT) return as a publicly traded company took a couple of interesting twists and turns this week. On Wednesday after the market closed, the company priced it's IPO at $17 share, considerably below the expected $21 to $24 range. While that range did seem pricy based on the company's recent history, and inability to turn a profit the past three years, it was a seemingly sharp rebuke from a high-flying market that has been accepting of lofty valuations.

In an interview Thursday morning, before shares made their debut, chairman and CEO Mike Tattersfield went on defense, noting that the company's business model has changed dramatically since JAB Holdings acquired the company back in 2016. Tattersfield stated that even at $17/share, Krispy Kreme was still worth 2.5 times more than the $1.35 billion JAB paid for the company, and that revenue and EBITDA have doubled since the acquisition.

Shares opened Thursday at $16.30 - below the $17 offering price - and fell as low as $15.50, adding insult to injury. However, the buyers then stepped in, and shares closed at $21, up nearly 24%. Ironically, that's the same price as the initial low end of the expected IPO price.

By my calculation, DNUT closed its first day of trading with a market cap around $3.4 billion, and enterprise value (market cap minus cash plus debt) of about $4.1 billion, assuming the company used proceeds of the IPO to pay down debt, as stated in its S1.

While I still like the brand, I don't like it at this price. There's not enough information in order to try and determine when DNUT will begin turning a profit again, and CEO Tattersfield is correct that this is not the same company JAB acquired. While revenue has grown significantly, the company has lost money the past three years, and has the added hurdle of more than $700 million in debt (that's after using IPO proceeds to pay it down), and significant interest expense.

I'd want to own the profitable version of Krispy Kreme, the 2010 version that investors shunned as the company quietly righted its financial ship, paid down debt, and turned a nice profit. The 2021 version seems overpriced, has much to prove, and seems in the "priced-for-perfection" category. I am happy to let the dust settle on this one. I took a similar approach with Zoe's Kitchen, which went public in 2014, and was ultimately acquired in 2018. Expectations were extremely lofty, and in time, the growth crowd gave up and moved on when the company could not live up to expectations.

At this point, DNUT is a classic case of love the brand, don't love the stock.

At the time of publication, Jonathan Heller had no position in the securities mentioned.

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Krispy Kreme Ends First Trading Day At $21 01 July, 2021 - 08:53pm

Amid the busiest week this year to date for U.S. initial public offerings (IPOs), doughnut company Krispy Kreme began trading at $16.30 per share, CNBC reported.

Krispy Kreme was trading with the “DNUT” ticker symbol on the Nasdaq. Shares of the firm were changing hands at $21 at the market close Thursday (July 1).

The offering provided Krispy Kreme with a $2.7 billion implied valuation and brought in $500 million for the firm, according to CNBC.

Krispy Kreme had set a $17 per share price for its IPO, CNBC reported. The firm is also the owner of Insomnia Cookies and initially reached the public markets a little over two decades ago. But JAB Holding took the firm private in 2016.

“The transformation that this company has done in the last five years has been incredible,” Krispy Kreme CEO Mike Tattersfield told CNBC, noting that the firm has worked on its culture and brand.

PYMNTS reported in June that Krispy Kreme was aiming to land in the range of $560 million and $640 million at a near $4 billion valuation as it proceeds with its IPO.

The firm was anticipating to sell approximately 26.7 million shares priced in the range of $21 to $24 a share. It had confidentially filed with the U.S. Securities and Exchange Commission (SEC) in May.

Krispy Kreme, which is based in North Carolina, had a banner year in 2020, powered partially by the public’s demand for sugary treats amid the pandemic restrictions.

To that end, the firm sold 1.3 billion doughnuts in 30 nations during fiscal 2020, and recorded $1.1 billion in net revenues, the most since it rolled out in the late 1930s. Approximately 64 percent of the firm’s doughnut sales in 2020 were Original Glazed.

Dunkin’, a Krispy Kreme competitor, was taken private in 2020 after being purchased for $11.3 billion by Inspire Brands, a restaurant chain owner.

In separate IPO news, Chinese ridesharing company Didi Global began trading at $16.65 per share Wednesday (June 30). The firm had priced its shares at $14.

About The Study: U.K. consumers see shopping local as key to both supporting the economy and saving the environment, yet many local High Street businesses struggle to get them in the door. In the new Making Loyalty Work For Small Businesses Study, PYMNTS surveys 1,115 U.K. consumers to learn find out how offering personalized loyalty programs can help engage new High Street shoppers.

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Krispy Kreme CEO celebrates second IPO launch: ‘We’re in this for the long journey’

Fox Business 01 July, 2021 - 06:45pm

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Krispy Kreme CEO and president Mike Tattersfield reflects on the donut giant's first day of public trade.

Donut giant Krispy Kreme launched its second IPO on the Nasdaq Thursday since delisting in 2016, successfully closing up by more than 23%.

Krispy Kreme CEO Mike Tattersfield vowed on "The Claman Countdown" that this second time going public will be one to count on, after five years of rebranding and remodeling while continuing to focus on fresh donut production.

"That focus, over the past five years, we've doubled the revenue doubled," he said. "So when you think about when we have that discussion with our investor base and they see the growth there and they see how this Omnichannel model is working, we're in this for the long journey, the journey that we've done over the past five years."

"We bought the company at a billion dollars. And as you roll up today, it's three times value," he continued. "So you can see the growth there. And we're really into the journey. And it's a really high-quality investor base that's with us. And they see the potential in the US as well as the globe."

Michael Tattersfield on Krispy Kreme, vaccinations 

Amid the destructive coronavirus pandemic, Krispy Kreme managed to hit record revenue numbers. Tattersfield explained that the business also managed to raise the rate at which their customers visit by 20% through specializing donuts for holidays and important events.

"When you drive the innovation around the dozens, around occasions, whether it's Fourth of July, whether it's Mother's Day," he said. "We also start building the gifting business. And in case you didn't know, about a third of our dozens business is actually gifted. So our customers are used to that. That shift to occasions really works."

Shares of the Winston-Salem, North Carolina-based doughnut chain opened for trading at $16.30 apiece, valuing the company at $2.62 billion. 

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