U.S. auto sales are projected to increase by 2.9% in the first half of 2023 compared to the previous year. However, there are growing concerns within the industry that this momentum may not be sustainable through the remainder of the year. Factors such as increasing vehicle inventory levels, rising incentives, and uncertainties surrounding the economy,
admin
As individuals approach retirement, especially those with significant balances in pre-tax retirement accounts such as 401(k) plans or IRAs, it is crucial to have a solid plan in place to manage future tax implications. According to financial experts, there is a looming “tax time bomb” that retirees may face when required minimum distributions (RMDs) come
Many people across the United States are facing a retirement savings crisis, with their 401(k) plans and other retirement balances falling short of what they will need to live on during their golden years. The Transamerica Institute and its division, Transamerica Center for Retirement Studies, conducted new research that revealed a concerning trend among American
Despite an increase in mortgage rates and an uptick in the supply of homes for sale, home prices set another record in April. This is an unusual trend in the housing market, especially when one would typically expect prices to weaken under such circumstances. In April, prices rose by 6.3% compared to the same month
The housing market is undergoing a shift, with newly built homes being smaller compared to a decade ago. In the first quarter of 2024, the median floor space of a single-family home under construction was 2,140 square feet, down from 2,256 square feet in the previous year. This decrease marks the smallest new homes since
Cisco, a U.S. tech giant, is looking towards a bright future with Chinese electric car companies as they expand their business globally. According to Ming Wong, vice president and CEO of Cisco Greater China, the electric vehicle (EV) segment is the second-largest source of revenue for Cisco in the Greater China region. Despite the escalating
The recent surge in inflation has had a significant impact on retirees and near-retirees, causing many individuals to reconsider their retirement plans. Research from Prudential Financial reveals that a substantial number of 55 and 65-year-olds are facing challenges due to the rise in price growth. According to the survey, 43% of 65-year-olds have postponed their
The ongoing problems with the new Free Application for Federal Student Aid (FAFSA) have caused a significant delay in financial aid award letters for college students. This delay has even prevented many high school seniors and their families from applying for aid altogether. According to the National College Attainment Network, as of June 14, only
When couples face financial stress, the most effective approach is to have open and honest conversations about their money issues. However, a study conducted by Cornell University suggests that this is not always the case. Research co-author Emily Garbinsky, an associate professor at Cornell, notes that when individuals feel stressed about their finances, they are
Savings rates for 401(k) plans have reached record highs in recent years, as both Vanguard and Fidelity reports indicate. In 2023, the average combined savings rate was estimated at 11.7%, matching a record high from 2022. Additionally, a separate Fidelity report found a combined rate of 14.2% for the first quarter of 2024, based on