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Economy, Personal Finance

“The “American Dream” costs far more than most people will earn over their lifetime”

“The “American Dream” costs about $3.4 million to achieve over the course of a lifetime, from getting married to saving for retirement, according to a recent analysis from financial site Investopedia. Meanwhile, median lifetime earnings for the typical U.S. worker stand at $1.7… Continue Reading…

Economy, Personal Finance

“28% of Americans Think They’ll Be Stuck Having to Live Frugally in Retirement…”

“…As such, it’s not that surprising to learn that 28% of workers today think they’ll have no choice but to live frugally as retirees, according to data from Natixis…” https://finance.yahoo.com/news/28-americans-think-theyll-stuck-121800115.html Listen, if you are a millennial do not expect social security to… Continue Reading…

Economy

“40% of Americans are afraid to walk alone at night — most in decades, poll says”

“…A recent Gallup poll found that 28% of Americans worry frequently or occasionally that they will be murdered, according to a Nov. 16 news release. That’s a near-record high… Meanwhile, half of U.S. adults said they worry their car will be… Continue Reading…

Stocks

“Shares of American Eagle plummet 17% on unimpressive holiday forecast”

“…The forecast was dampened by an expected 20% uptick in selling and general administrative expenses, the company said…   The company’s reported net income for the three-month period that ended October 28 was $96.7 million, or 49 cents per share,… Continue Reading…

Economy

“Americans will run out of pandemic savings next month, Fed warns”

“…Research by economists at the Federal Reserve Bank of San Francisco found Covid-related savings in the US had fallen to less than $190bn (£149bn) in June. This was down from $2.1 trillion at its peak in August 2021, which was… Continue Reading…

Business, Economy

“American Express profit rises, but it sets aside more money for possible defaults”

“American Express saw its profit and revenue climb in the second quarter and credit card use is rising, but the company’s stock slipped before the market open as it set aside more money for possible defaults on payments. The card… Continue Reading…

Personal Finance

“Americans think they will need nearly $1.3 million to retire comfortably, study says…”

“When it comes to how much they will need to comfortably retire, Americans have a “magic number” in mind — $1.27 million, according to new research from Northwestern Mutual. That’s up from $1.25 million last year, the financial services firm found, based on… Continue Reading…

Banking

“Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years”

“Credit Suisse, the collapsed Swiss bank taken over by UBS Group in a hastily arranged bailout earlier this month, may bring with it a fresh set of regulatory and legal problems for its new owner. For years, the bank has… Continue Reading…

Economy

“‘I expect a tsunami of shutoffs’: 20 million American households are behind an average of $788 on their utility bills…”

“…According to the National Energy Assistance Directors Association (NEADA), roughly 20 million households in the U.S. — one out of six homes — are behind on their utility bills. As of August, these families owe about $16.1 billion in total,… Continue Reading…

Economy, Personal Finance

“66% of American workers are worse off financially than a year ago due to inflation, report finds”

“…As inflation pressures continue, two-thirds of working adults said they are worse off financially than they were a year ago, according to a recent report by Salary Finance. To make ends meet, many are dipping into their cash reserves or going into debt.… Continue Reading…