Personal Finance
The New York Fed’s Survey of Consumer Expectations found that the percentage of Americans who plan to work past 62 fell from 56% to 46% from 2014 to 2024. The average expected likelihood of working beyond age 67 was only 34.2% as of August 2024. With the number of early retirees increasing, it is even more critical for people to make productive decisions and avoid pitfalls. 6 Early Retirement Mistakes Some retirees are well-prepared, having saved and invested with enough discipline to retire on their terms. For others, early retirement is not a choice but the result of layoffs, health…
Pamela de la Fuente leads NerdWallet’s consumer credit and debt team. Her team covers credit scores, credit reports, identity protection and ways to avoid, manage and eliminate debt. Previously, she led taxes and retirement coverage at NerdWallet. She has been a writer and editor for more than 20 years.Pamela joined NerdWallet after working at companies including Hallmark Cards, Sprint Corp. and The Kansas City Star.She is a thought leader in content diversity, equity, inclusion and belonging, and finds ways to make every piece of content conversational and accessible to all.She is a graduate of the Maynard Institute’s Maynard 200 program,…
This article explores various car financing options available to individuals with less-than-perfect credit. It delves into dealership financing, credit union loans, subprime auto loans, and online lenders, discussing their pros, cons, and how to improve your chances of loan approval. Whether you’re a first-time buyer or looking to upgrade your vehicle, this guide will provide valuable insights to help you navigate the car financing process even with no or low credit. Overview Of Credit And Its Impact On Car Financing Credit is a financial tool that allows individuals to borrow money with the agreement to repay it over time. Lenders…
A 2010 Time Magazine article about the plateau effect—Americans not seeing significant rises in happiness levels as income rises above $75,000—inspired my first intensive study on the relationship between money and happiness. Though roughly 15 years have passed, and more nuanced conclusions have been analyzed, the eye-opening revelation remains an essential reminder for retirees. Namely, happiness isn’t only about the money itself. What people do with that money can often be the difference between a happy and unhappy retirement. In many ways, a happy retiree is what a happy retiree does, so I’ve conducted several surveys over the years asking…
In my first article on budgeting, Make Your Budget Fun Again By Conserving Your Precious Willpower, I explored why most people dislike budgeting: they are often trying to control an unpredictable future. This approach is exhausting and drains the limited willpower we are meant to conserve. A better method is to focus primarily on tracking your income and expenses—observing your present situation—which can be done with consistent success and requires very little willpower once it becomes a habit. Tracking serves as a guiding light, helping you navigate unexpected twists in your financial journey with greater ease. Once you have made…
Millions of student loan borrowers face an uncertain future as a second Trump administration prepares to return to Washington. But borrowers can start taking steps now to prepare for anticipated changes to student loan forgiveness and repayment. The fate of several Biden administration-era student debt relief initiatives, such as the new SAVE plan and broad loan cancellation, may be sealed. But the future of other programs, including some popular loan forgiveness programs, is murkier. Student loan borrowers don’t have direct control over court rulings, legislative priorities or policy directives. That doesn’t mean, however, that nothing can be done to gear…
High healthcare costs and the prospect of unexpected medical bills are leading worries for adults and their families. Lowering out-of-pocket costs is the public’s top healthcare priority, according to KFF, an independent source for health policy research, polling and news. I wrote a year ago about how our hugely expensive healthcare system is harming American society: “In addition to fueling the deficit and adding hundreds of billions to our national debt each year, the high cost of healthcare is crowding out other state budget priorities, undermining the competitiveness of American businesses and hurting American families.” The problem is not new,…
In the 2010s, software was king. Tech startups promised to disrupt industries with cloud-based solutions, and venture capitalists and the stock market poured billions into software-as-a-service (SaaS) companies. Today’s companies and entrepreneurs are tackling real-world problems in manufacturing, robotics, defense, and space exploration—and venture capital and the stock market are following the hardware trend. This shift isn’t just transforming industries; it’s impacting your wallet, from lowering the costs of consumer goods to new job opportunities in advanced manufacturing. The hardware renaissance is poised to reshape personal finance. Bringing Manufacturing Back Home Brooklyn-based Nanotronics is at the forefront of this movement.…
Higher education has been good to me. I graduated from a well-regarded undergraduate university with a diploma, my future bride and the best man at my wedding. I left graduate school with a job that has, so far, turned into a flourishing career. I’m living the American Dream. Yet, as my oldest nears 11, I’m wondering (sometimes doubting) if he (or the rest of my brood) should follow my wellworn path of getting a degree. The Case For College College’s benefits are well-known, but worth stating clearly: The obvious advantage is the opportunity to earn a high salary. “New York…
It feels like it’s been Black Friday for weeks already, but the best deals on popular products are likely still to come. The official Black Friday is Nov. 29, the day after Thanksgiving, and some big sales begin this week.When to shop Black Friday deals“Mid-month of November is when you start to see prices really start to pick up, and then Black Friday is when everything is going to really get discounted,” says Samantha Gordon, deals editor at Consumer Reports. According to Adobe’s 2024 U.S. Holiday Shopping Forecast, the strongest discounts of the season are expected to come between Nov.…
This year, California took the second of two steps to allow residents with unlimited assets to participate in its Medicaid long-term services and supports (LTSS) program. Advocates hoped the move would make the program far more widely available. Conservative critics feared it would become a budget-busting open door for the wealthy to take advantage of a public program. Both were wrong. Yet, the California experience may end up in the middle of a bruising battle over Medicaid LTSS, where conservatives try to tighten federal program rules while blue states try to ease them. California’s Changes Before California changed its asset…