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Economy, Personal Finance

“Only 37% of American workers feel good about their retirement savings…”

“…That’s according to CNBC’s August 2024 Your Money retirement survey conducted with SurveyMonkey, which found that only 37% of non-retired Americans are either “on schedule” or “ahead of schedule” with their retirement investments. Considering that more than half of Americans say they’re… Continue Reading…

Economy, Stocks

“‘Millions Of Households Will Have Their Retirement & Savings Destroyed’ — Grant Cardone Foresees Devastating Stock Market Plunge Of 50%”

“Real estate investor, Grant Cardone, issued a warning on May 5th regarding the stock market, posting on X: “WARNING: Stock Market is due for 50% correction taking S&P below 2674. Tens of millions of households will have their retirement & savings… 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…

Real Estate

[England] “Mortgage crisis to wipe out savings of 1.2 [MILLION] households as repayments set to surge”

“The mortgage crisis will wipe out the savings of 1.2m families this year and push many into insolvency, economists have warned. Households having to remortgage face their bills rising by nearly 50pc, according to the National Institute of Economic and Social Research… Continue Reading…

Personal Finance

“57% of people are uncomfortable with their level of emergency savings. Here’s how much they think they need”

“…But when it comes to emergency savings, more than half of Americans — 57% — are uncomfortable with the level of money they have set aside, according to a new Bankrate survey… To feel comfortable with their amount of cash… Continue Reading…

Economy, Personal Finance

“As emergency savings drop and credit card balances rise, experts say taking 3 steps can help”

“Americans have suffered in “declines in overall financial well-being,” according to a new annual Federal Reserve report on economic well-being of U.S. households released last week. Only 63% of all adults can cover an unexpected $400 expense, the report on 2022 found, down from… Continue Reading…

Economy, Investing, Personal Finance

“34% of Millennials say they’re behind on their retirement savings”

“However, a recent Goldman Sachs’ Retirement Survey & Insights Report found that 34% of Millennial respondents report feeling like they’re behind on their retirement savings. The findings are based on responses from 1,566 individuals who responded between July and August 2022. The… Continue Reading…

Cryptocurrencies

“…dogecoin millionaire’: This 33-year-old invested his savings…”

“After learning about the meme cryptocurrency on Reddit, Contessoto says he invested over $180,000 in dogecoin on Feb. 5, when it was priced at about 4.5 cents. Contessoto was intrigued by dogecoin for a few reasons. For one, he loved… Continue Reading…

Personal Finance

“Average 401(k) Balance by Age”

“Ages 20-29 The average 401(k) balance was $11,800 The median 401(k) balance was $4,300 The average contribution rate was 7% of compensation Ages 30-39 The average 401(k) balance was $42,400 The median 401(k) balance was $16,500 The average contribution rate… Continue Reading…