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...
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....
Americans’ credit card balances rose briskly in the second quarter, hitting a sobering milestone of more than $1 trillion, the Federal Reserve Bank of New York reported this month. Credit cards are the most prevalent type of household debt, New York Fed researchers wrote in a blog post, and saw the biggest increase of all debt...
The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before. Rates have been above 6.5% since the end of May and climbing higher since mid-July. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since April 2002 when it was 7.13%.
Young savers have done especially well. Gen Z saw a 66% increase in average 401(k) balances compared to a year ago, while millennials saw a 24.5% increase. Average Gen X balances were up 14.5%, and baby boomers saw an average increase of 6.3% compared to a year ago.
I am very lucky to have a chunk of disposable income every month. However, I want to invest and save most of it, because I recognize that disposable income can quickly disappear given the right circumstances....
If you’re impulse buying crap online, I find keeping items in the shopping cart for a day or so gives me time to think before pulling the trigger. If it’s an emergency that’s one thing, but most of the time it can wait.
Also I find budgetting apps to be really helpful in curbing unnecessary spending.
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....
Vivek Ramaswamy condemned for 9/11 and Jan 6 conspiracy theory remarks ( www.theguardian.com )
Do you use a credit card? Why or why not?
I know this might just reflect financial culture differences across countries, but let’s give it a try...
Anyone interested in moderating this community?
Hello everyone,...
Credit Card Balances Hit New Peak - One Trillion ( www.nytimes.com )
Americans’ credit card balances rose briskly in the second quarter, hitting a sobering milestone of more than $1 trillion, the Federal Reserve Bank of New York reported this month. Credit cards are the most prevalent type of household debt, New York Fed researchers wrote in a blog post, and saw the biggest increase of all debt...
Mortgage rates soar to their highest level in 21 years ( www.cnn.com )
The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before. Rates have been above 6.5% since the end of May and climbing higher since mid-July. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since April 2002 when it was 7.13%.
401(k) millionaires are on the rise after taking a hit last year. Boomers are leading the way ( fortune.com )
How to curb unnecessary consumer impulses?
I am very lucky to have a chunk of disposable income every month. However, I want to invest and save most of it, because I recognize that disposable income can quickly disappear given the right circumstances....