Society/Community Archives

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

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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I’m 56 and plan to retire at 62. I will have both public pensions and social security – but I also have a child starting college that I want to pay for. Do I need professional help?

Leave a Comment / Personal finance / By admin

Getty Images/iStockphoto Question: I’m 56 and work for a state university, so I will have a state retirement plan. Previously, I worked full time and contributed to social security for 20 years. I still work part-time and contribute to social security. I plan to retire in six years when I turn 62, and recently started …

I’m 56 and plan to retire at 62. I will have both public pensions and social security – but I also have a child starting college that I want to pay for. Do I need professional help? Read More »

People have a ‘long social distance’ due to COVID-19. Economists say this contributes to a decline in labor force participation.

Leave a Comment / Economy / By admin

More than two years into the coronavirus pandemic, a desire for social distancing still prevents some people from returning to work. It’s a decision, say medical experts, that everyone should make for themselves, based on their own circumstances. Some economists say, however, that people withdrawing from work due to the pandemic can also impact the …

People have a ‘long social distance’ due to COVID-19. Economists say this contributes to a decline in labor force participation. Read More »

Opinion: High debts and stagflation will bring the mother of all financial crises

Leave a Comment / Economy / By admin

NEW YORK (Project Syndicate) – The global economy is heading for an unprecedented confluence of economic, financial and debt crises, following the explosion of deficits, borrowing and debt over the past few decades. In the private sector, the mountain of debt includes that of households (such as mortgages, credit cards, car loans, student loans, personal …

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401(k) Hardship Withdrawals Hit an All-Time High of ‘Worrying’, Says Vanguard

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Amid stubbornly high inflation, a record proportion of Americans are turning their 401(K) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of about five million employer-sponsored 401(k) accounts that Vanguard manages, the researchers said that 0.5% made hardship withdrawals in October. It’s a “worrying” all-time high, said retirement savings and …

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Is money a weapon to control your spouse? This financial abuse can destroy your marriage.

Leave a Comment / Personal finance / By admin

Progress has been slow, but American society’s openness to marriage norms and money issues continues to evolve. Married couples now include the LGBTQ+ community and 38% of breadwinners are women. I share this because gender norms are becoming less normal, which actually means no one is immune to the possibility of a spouse using money …

Is money a weapon to control your spouse? This financial abuse can destroy your marriage. Read More »

“Most economists predict a recession in 2023”: I own a rental property. Is it the right time to take out a bank loan and renovate or should I wait?

Leave a Comment / Economy / By admin

Dear MarketWatch, Along with a sibling, I own a 40+ bedroom rental property in the Caribbean, where we do weekly rentals. It is near the city center but needs repairs and renovations. Is it a good time to go to the bank for a renovation loan? We are also open to changing our business model. …

“Most economists predict a recession in 2023”: I own a rental property. Is it the right time to take out a bank loan and renovate or should I wait? Read More »

Can’t afford to retire? Why “working longer” isn’t good retirement advice.

My wife agreed to vouch for her son’s rental without telling me. His car was seized for non-payment of his loan. What should I do?

Leave a Comment / Personal finance / By admin

Dear Quentin, About four days ago I received an email from my wife’s bank saying that someone had requested her login username through a password reset. When I asked my wife about this she said she forgot her username and was trying to get my stepson access to her online portal so he could download …

My wife agreed to vouch for her son’s rental without telling me. His car was seized for non-payment of his loan. What should I do? Read More »

This State Has the “Best” Personal Finance Education in the U.S.

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Financial literacy is key to managing money, but how well are states preparing their residents? Tennessee tops the list of US states that offer the best financial education to its residents, according to a new report from financial services firm OneMain Financial. More than 99% of Tennessee public high school students have a “gold-access” education, …

This State Has the “Best” Personal Finance Education in the U.S. Read More »