According to a recent survey by Bankrate, over half of U.S. adults don’t have enough money in the bank to tide them over for three months. And 28% say they have no emergency savings at all. Brigitte Madrian, the Dean of Brigham Young University’s Marriott School of Business, joined Yahoo Finance’s “YFi PM” to discuss […]
The Federal Reserve’s decision to cut interest rates by a quarter point for the second time in a decade is a double-edged sword for many Americans. On the one hand, the Federal Open Market Committee and Chairman Jerome Powell have expressed concerns about a slowing economy and the ongoing trade war, which could raise prices […]
As the Federal Reserve lowers rates, it’s a good idea to make sure your savings are still getting the biggest boost. The central bank cut its benchmark short-term interest rate by a quarter of a point. In July, the bank cut rates for the first time since the Great Recession. As a result, some banks […]
Adults in the U.S. over the age of 18 say they have an average of $29,800 in personal debt (not including mortgages), and 15% of Americans say they think they will be in debt for the rest of their lives. According to Northwestern Mutual’s 2019 Planning and Progress Study, this is still an improvement from […]
Most people don’t know how much they need to save for retirement, but many are pretty certain they’re not saving enough. Finding extra cash to save toward retirement isn’t always easy, and it often seems like you need to set aside hundreds or thousands of dollars to make any real difference. But small contributions made […]
Millennials carry an average of $27,900 in debt, not including mortgages, according to new data released today by Northwestern Mutual. Gen Z, the oldest of whom are now 22 years old, have an average debt of $14,700. Having sizable debt at a young age “is the new normal,” said Chantel Bonneau, wealth management advisor at […]
What goes up usually comes down. Nowhere is that more clear than in the stock market. Like nearly anything else in life — from parenthood to picnics — investing in stocks isn’t always a day at the beach. Imagine the stock market plunging, and the value of your hard-earned investments along with it. Sounds terrible, […]
Saving for the future and planning for retirement can be extremely daunting. You might feel frozen and unable to do everything you want to improve your situation. However, taking advantage of simple financial strategies today (e.g., automating your savings, cutting current expenses and saving raises) could significantly improve your future. If you’re looking for more […]
Climate change. Wars. Overworking. Unnecessary meetings. And just flat out being broke. These are some of the reasons why millennials aren’t planning for much of a retirement. Twitter TWTR, +1.12% erupted with suggestions as to how this young generation could spend their old age, using the hashtag #millennialretirementplans, on Tuesday morning. More of the tweets […]
You know you need to put money away for retirement. But how much do you really need to save? It’s a question that confounds many individuals. And not knowing can contribute to one big fear: that they will run out of money in their later years. A new tool aims to help you understand just […]
There are only three numbers that factor into your ability to retire early, and none of them is your salary. That’s according to Rob Berger, a deputy editor at Forbes and the author of the new book “Retire Before Mom and Dad.” He says income has a minimal influence on how quickly we’re able to […]
Your golden years may be some of the best years of your life, but they can also be some of the most expensive. Multiple factors contribute to the rising costs of retirement. Healthcare expenses, for example, continue to increase, and the average American in their 40s now can expect to spend roughly $335,000 on healthcare […]
