Small, everyday purchases like a meal from DoorDash are now able to be financed through eat now, pay later options — a practice that some experts deem “predatory.” “You’ve got to have enough sense to not follow the urge to finance a taco, okay? You have got to be an...
Socking away money for retirement is something that’s top of mind for many people. Many Americans save money for their “Golden Years” through workplace retirement plans and individual accounts they set up, with traditional and Roth IRAs being frequently-used vehicles in the latter category. Holders of Roth IRAs are able...
As Generation X continues getting closer to retirement, some have less than rosy views about their retirement prospects, according to a recently released nonprobability-based study from Fidelity Investments. Fidelity Investments found in the latest edition of its annual “State of Retirement Planning” study that 45% of Gen Xers — those between...
More savers are embracing the tax-advantaged accounts, and many will contribute leading up to tax day. Young savers are flocking to Roth IRAs. They are taking the advice of parents, workplace financial coaches and tax advisers, who have long preached the gospel of these accounts to save for retirement and...
The Federal Reserve just met to discuss the possibility of interest rate cuts. This time around, the Fed decided to extend the rate pause, leaving rates in the 4.25% to 4.5% range. The decision came due to stable economic activity that’s expected to grow in the first quarter. Economists largely...
It isn’t always easy to save for retirement, in part because for many people it is so far away that there’s no sense of urgency. New research suggests a solution: Make the future feel closer. “People struggle to save for the future, and part of the reason why is people...
gold Retirement nest eggs and Social Security benefits are key sources of funds for many Americans as they live out their golden years in the state of their choosing. A recently-released study from GOBankingRates looked at the financial runway that retirees would have in each state with Social Security benefits and...
Annual inflation increased to 2.8% in February, an unexpected decline from 3.0% in January, according to the Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS). Inflation increased 0.2% monthly after rising 0.5% the previous month. Core inflation, which excludes volatile energy and food prices, grew at a...
There’s good news for potential homebuyers: mortgage rates continued to trend down this week. In January, rates hit 7.04%, the highest level since last May. This week, however, 30-year rates dropped to 6.76% for fixed-rate mortgages, according to Freddie Mac. “This week, mortgage rates decreased to their lowest level in...
Balances for 401(k) retirement accounts hit the “second-highest average on record” in the final quarter of 2024, according to new data from Fidelity Investments. The financial services company found in its newly-released fourth-quarter retirement analysis that balances for that type of retirement plan averaged $131,700. That figure marked a jump...