Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 24, 2024. Brendan McDermid | ReutersWith the U.S. presidential election less than two weeks away, and voters decidedly split, some investors are understandably spooked."This is likely to cause a little bit of...
Molly Richardson, 35, regularly contributes to her 401(k) plan, but the structural engineer says she isn't too worried about retirement yet."It's always something I felt like I could wait until I'm 50 to figure out," she said.Like many other working adults, Richardson says she has more pressing expenses for...
The U.S. economy has remained remarkably strong.Boosted by a strong labor market, the country has continued to expand since the Covid-19 pandemic, sidestepping earlier recessionary forecasts even after a series of Federal Reserve interest rate increases.And yet, consumer sentiment recently sank to a six-month low.That disconnect is what Joyce Chang, J.P. Morgan's chair of global...
Americans now owe $1.08 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York.Credit card balances spiked by $154 billion year over year, notching the largest increase since 1999, the New York Fed found."Credit card balances experienced a large jump...
Morsa Images | Digitalvision | Getty ImagesSoft saving gains steam in today's economyOnly recently, there was tremendous buzz around FIRE, an acronym that stands for Financial Independence, Retire Early, a movement built on the idea that handling your money super efficiently can help you reach financial freedom.But putting enough...
Halfpoint Images | Moment | Getty ImagesSaving for retirement is one thing, meeting your goals in the golden years is another.That's where worry creeps in.Among older workers, just 34% of baby boomers and 26% of Gen Xers feel like they're on the right track with their retirement savings, according...
To be sure, women in corporate America have come along way in the last decade.While the overall gender pay gap has not changed much, it has narrowed among top executives. And, for the first time ever, women CEOs make up more than 10% among Fortune 500 companies.But CEOs are...
Ethan Hawke sits with Winona Ryder in a scene from the film 'Reality Bites', 1994.Universal Pictures | Moviepix | Getty ImagesAs Generation X knows all too well, "reality bites" — to quote the iconic 1994 film of the same name.Most Gen Xers — roughly defined as those born between...
Amid heightened economic uncertainty, Americans, overall, are saving less.The personal savings rate — how much people save as a percentage of their disposable income — was 3.9% in August, well below a decadeslong average of roughly 8.9%, according to the latest data from the U.S. Bureau of Economic Analysis.And yet,...
To be sure, 529 college savings plans already had a lot going for them.Now, thanks to "Secure 2.0," a slew of measures affecting retirement savers, they're about to be even more attractive.Starting in 2024, savers can roll unused money from 529 plans over to Roth individual retirement accounts free of income tax or tax...