Personal Finance

Your ‘Set It and Forget It’ 401(k) Made You Rich. No More. — WSJ ( apple.news )

For four decades, patient savers able to grit their teeth through bubbles, crashes and geopolitical upheaval won the money game. But the formula of building a nest egg by rebalancing a standard mix of stocks and bonds isn’t going to work nearly as well as it has.

(US) Introducing Comingle: An opt-in UBI (Universal Basic Income) to provide a stable weekly income based upon users contributing 7% of their income ( comingle.us )

Comingle is an interesting idea that would act as a pseudo emergency fund to provide a stable week to week income for their users. It could act to stabilize your income if you have an irregular income or as an backup plan or insurance for when you lose a job or income source. It works by distributing the average of all their...

Home prices may be on the verge of cooling off ( www.nbcnews.com )

Home prices weakened month to month, according to Black Knight. While still gaining, which they usually do at this time of year, the gains fell below their 25-year average. This after significantly outdoing their historical averages from February through June. It’s a signal that a slowdown in prices may be underway again....

Student loan interest resumes Friday and payments restart in October. Here’s what borrowers should know ( www.cnn.com )

Interest will start accruing again on September 1, after rates were effectively set to 0% since March 2020 for federal student loans. Now, interest rates, which are fixed and vary by loan, will return to the same rate they were before the freeze....

Is Congress Going to Kill Credit Card Rewards? ( www.nerdwallet.com )

Legislation known as the Credit Card Competition Act, first introduced in Congress in 2022, is described by its sponsors as encouraging “competition in electronic credit transactions.” But if lawmakers end up passing the measure, opponents say it could also torpedo the rich rewards and perks that cardholders have enjoyed for...

Baby Boomers Are Overestimating Future Social Security Income ( www.bloomberg.com )

Baby boomers anticipate that 47% of pre-retirement earnings will be replaced by Social Security, according to results of an annual survey from the Nationwide Retirement Institute. But the reality for someone making what the Social Security Administration considers the average wage in recent years, about $60,000, is more like...

Truck purchases are driving up the average cost of car payments. Some buyers pay over $1,000 a month ( www.nbcnews.com )

More than 1 in 4 car shoppers in Texas and Wyoming have committed to paying more than $1,000 a month, and experts say it is due to the high volume of large truck purchases in those states, according to a report by auto site Edmunds....

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