Family finances

Opinion: Household wealth plummets by $13.5 trillion, second-worst drop on record

Opinion: Household wealth plummets by $13.5 trillion, second-worst drop on record

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US households lost an estimated $6.8 trillion in wealth in the first three quarters of 2022 as the SPX stock market, -0.73% DJIA, -0.90% COMP, -0.70% has lost more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts. Nominal net worth fell 4.6% to $143.3 trillion, as the …

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Not having an emergency fund can lead to one of the biggest financial mistakes, says Suze Orman. How Congress can help

Not having an emergency fund can lead to one of the biggest financial mistakes, says Suze Orman. How Congress can help

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Suze Orman speaks during AOL’s BUILD Speaker Series at AOL Studios in New York City. jenny anderson | WireImage | Getty Images If your car breaks down or you have an unexpected medical bill, it can be difficult to find the money to cover expenses. In a pinch, it can be tempting to withdraw money …

Not having an emergency fund can lead to one of the biggest financial mistakes, says Suze Orman. How Congress can help Read More »

How Congress can make it easier to set aside money for emergency spending

How Congress can make it easier to set aside money for emergency spending

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Thomas Barwick | Digital vision | Getty Images Many families struggle to come up with money when faced with an unexpected $400 expense. This lack of emergency savings may force them to borrow money at high interest rates to pay for the surprise expense, putting their financial security at risk. Congress now has a window …

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New retirees will face financial surprises. Advisors explain how to stay ahead of these shocks

New retirees will face financial surprises. Advisors explain how to stay ahead of these shocks

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Retirement is a major goal that many workers watch for throughout their careers. However, once people reach retirement age, they are often in store for financial surprises, despite decades of preparation. For today’s retirees, this is compounded by new uncertainties brought by historically high inflation and recent stock market turmoil. Ideally, those retiring already have …

New retirees will face financial surprises. Advisors explain how to stay ahead of these shocks Read More »

New retirees will face financial surprises. Advisors explain how to stay ahead of these shocks

New retirees will face financial surprises. Advisors explain how to stay ahead of these shocks

Leave a Comment / Personal finance / By

Retirement is a major goal that many workers watch for throughout their careers. However, once people reach retirement age, they are often in store for financial surprises, despite decades of preparation. For today’s retirees, this is compounded by new uncertainties brought by historically high inflation and recent stock market turmoil. Ideally, those retiring already have …

New retirees will face financial surprises. Advisors explain how to stay ahead of these shocks Read More »