Undefined | Mint Images Rf | Getty Images Not all financial advisors wear capes, but many are heroes to their clients. Financial advisors wear many hats as they help align their clients’ money with their life goals. They play a key role in their clients’ lives, cultivating confidence in their finances. In addition to providing …
Westend61 | Westend61 | Getty Images Financial experts have long been warning of an impending economic downturn in the United States. The only question was when it would happen. However, some firms and experts are now retracting their predictions, casting doubts on the reliability of a once-trusted indicator of recession known as the yield curve …
After reaching a low of less than 3% in January 2021, the average rate for a 30-year fixed-rate mortgage has now risen above 7%. This increase is deterring many homeowners from considering selling their homes. At the current rates, most homeowners would have to finance a new home at a higher rate than their existing …
Prospective buyers visit an open house for sale in Alexandria, Virginia. Jonathan Ernst | Reuters As home prices rise to record highs and mortgage interest rates soar, homeownership has become increasingly unaffordable. According to experts, hidden costs can surprise first-time buyers. Aside from the typical mortgage payment, the average homeowner spends $14,155 per year on …
Peopleimages | Istock | Getty Images Many young couples aspire to get married, but some are deterred by the high costs associated with weddings. A survey conducted by the Thriving Center of Psychology revealed that 75% of Gen Z and millennial couples believe that it is too expensive to get married in the current economy. …
Many Americans eagerly await their payday. According to a report by LendingClub, as of June, 61% of adults in the United States are living paycheck to paycheck. This means that they rely solely on their regular paychecks to cover essential living expenses, with little to no money left over. A survey conducted by Bankrate reveals …
A ‘richcession’ may be underway “In most recessions, unemployment rises more for lower-income groups,” explained Tomas Philipson, a professor of public policy studies at the University of Chicago and former acting chair of the White House Council of Economic Advisers. “Although we are not currently in a recession, the demand for and wages of lower-income …
Is the incidence of poverty among elderly individuals too high? Let us consider this hypothetical scenario: What would be an acceptable poverty rate for seniors in America? According to the Organization for Economic Co-operation and Development (OECD), the U.S. has a higher poverty rate among individuals over the age of 65 compared to most other …
Downtown Los Angeles. TheCrimsonRibbon | Getty Images 5 U.S. metro areas with highest monthly rents These U.S. metropolitan real estate markets had the highest median single-family monthly rents during the second quarter of 2023: Los Angeles; Long Beach, California; Anaheim, California: $4,984 San Diego; Carlsbad, California: $4,862 Naples, Florida; Immokalee, Florida; Marco Island, Florida: $4,821 …
Bob and Terri Wood, residents of Mobile, Alabama, are contemplating selling their home. The couple, who bought the spacious 5,000-square foot house with a pool nearly a decade ago, believes it’s time to downsize and be closer to their grandchildren in Tennessee. However, they face a dilemma. They currently hold a 3.125% 15-year fixed mortgage, …