Could Social Security bail you out if a recession hits in 2023?

Could Social Security bail you out if a recession hits in 2023?

(Maurie Backman) Will a recession hit in 2023? This is a question on the minds of a lot of people right now. The Federal Reserve has been raising interest rates for months in an attempt to slow the pace of inflation. But his interest rate policies could fuel a sharp decline in consumer spending as … Read more

Popular personal finance advice contradicts economic theory

Popular personal finance advice contradicts economic theory

Avoid credit card debt. Start an emergency fund. Start saving for retirement when you’re young. And never underestimate the importance of compound interest. Personal Finance Experts tend to agree on this kind of basic principles. But a new working paper highlights the surprising disconnect between popular personal finance books and economic theory. The author of … Read more

NBA star James Harden lends support to financial literacy

NBA star James Harden lends support to financial literacy

James Harden of the Philadelphia 76ers looks for a pass against the Toronto Raptors in Game 5 of the Eastern Conference First Round on April 25, 2022. Tim Nwachukwu | Getty Images For NBA player James Harden, building financial literacy in young adults is personal. Harden, a point guard and shooter who recently signed a … Read more

Want more retirement income? Here’s an investment worth owning

Want more retirement income?  Here’s an investment worth owning

(Maurie Backmann) Retiring on Social Security alone is generally a bad idea. These benefits will only replace about 40% of your pre-retirement salary if you earn an average salary. And that’s assuming that benefits aren’t substantially reduced across the board. As Social Security faces a financial shortfall, seniors could face benefit cuts if lawmakers don’t … Read more

Inflation causes 54% of adults to reduce or stop their retirement savings

Inflation causes 54% of adults to reduce or stop their retirement savings

Brandon Bell | Getty Images “Make a plan” to replenish your retirement account If rapidly rising prices have hurt your ability to save for retirement, it’s important to try to get back on the savings path as soon as possible, experts say. “Make a plan now for how and when you’ll do it,” said certified … Read more

What to know about the latest student loan payment suspension extension

What to know about the latest student loan payment suspension extension

President Joe Biden and Education Secretary Miguel Cardona. The Washington Post | The Washington Post | Getty Images It’s been almost three years since people with federal student loans had to pay off their debt, and the Biden administration recently announced that borrowers have even more time. In March 2020, when the coronavirus pandemic first … Read more

3 Ways Saving for Retirement Could Help Your Finances Today

3 Ways Saving for Retirement Could Help Your Finances Today

(Kailey Hagen) Saving for retirement is generally considered a form of deferred gratification. You choose not to spend some of your money now in exchange for more money when you retire. But that’s too simplistic a way of looking at it. Although you won’t realize the full benefits of saving for retirement until you withdraw … Read more

Retirement planning means more than saving in your 401(k)

Retirement planning means more than saving in your 401(k)

Most Americans don’t have a retirement plan, even those who max out their 401(k)s. The meaning of retirement has been reshaped as people live longer and healthier lives. Building a nest egg is essential, but that alone is not the same as figuring out what to pursue in your post-career decades. Retirement coaches suggest that … Read more

Want more retirement income? Here’s an investment worth owning

Want more retirement income?  Here’s an investment worth owning

(Maurie Backman) Retiring on Social Security alone is generally a bad idea. These benefits will only replace about 40% of your pre-retirement salary if you earn an average salary. And that’s assuming that benefits aren’t substantially reduced across the board. As Social Security faces a financial shortfall, seniors could face benefit cuts if lawmakers don’t … Read more

More and more people are using “buy now, pay later” to do their holiday shopping, but experts say it’s a double-edged sword and Black Friday is suffering from the ill wind of high prices and worries. economic

More and more people are using “buy now, pay later” to do their holiday shopping, but experts say it’s a double-edged sword and Black Friday is suffering from the ill wind of high prices and worries. economic

Hi, MarketWatchers. Don’t miss these top stories. Black Friday dilemma: More people are using ‘buy now, pay later’ for holiday shopping, but experts say it’s a double-edged sword “Buy now, pay later” offers a new twist on the concept of layaway, which has become increasingly popular among cash-strapped young consumers. Read more “Most economists predict … Read more