Many young retirement savers are considering the option of raiding their 401(k) accounts in order to buy a home. According to the Real Financial Progress Index by BMO Financial Group, nearly one-third of aspiring homeowners plan to withdraw funds from their retirement savings to fund a home purchase. Millennials and Gen Zers are particularly inclined
Personal
As Americans gear up for their summer travels, they are noticing a significant shift in airfare prices compared to last year. While there has been an overall decrease in airline fares, certain regions and destinations are still experiencing an increase in cost. According to data from travel site Hopper, the average round-trip flight to Tokyo,
Many Americans are under the misconception that Social Security benefits will disappear once the trust funds are depleted. However, according to Emerson Sprick of the Bipartisan Policy Center, even if the trust funds run out, the program will still have revenue from payroll taxes. Benefits may be reduced, but they will not completely disappear. Despite
The Tax Cuts and Jobs Act of 2017 brought significant changes to the American tax system. One of the key provisions of this act was the reduction of federal income tax rates across the board. This resulted in lower tax rates for most individual taxpayers, with the top rate dropping to 37% from 39.6%. However,
Parents who are considering taking out federal student loans for their children’s education are now facing a new challenge. The U.S. Department of Education recently announced that the interest rates on Parent PLUS loans will rise to 9.08% for the 2024-2025 academic year. This is the highest interest rate for parents in over three decades
In the current economic landscape of the United States, there is an interesting phenomenon occurring alongside the overall higher inflation rates – deflation. While inflation measures the rapid increase in costs of goods and services, deflation signifies a decrease in prices for consumers. This deflationary trend is especially prevalent in the sector of physical goods,
The U.S. Department of Education has extended the deadline for borrowers to request a loan consolidation in order to qualify for key student loan forgiveness. Borrowers now have until June 30 to take advantage of this opportunity, which will combine their federal student loans into one new federal loan. By applying for loan consolidation by
The recent surge in meme stock trading, particularly in companies like AMC Entertainment and GameStop, can largely be attributed to the influence of social media. The resurgence of these stocks in what has been termed as a “meme stock” rally has been triggered by the actions of individuals on platforms like Reddit. The viral nature
Recent graduates entering the job market this year are facing a different landscape compared to previous years. With employers planning to hire about 5.8% fewer new college graduates than they did in the past, according to a report from the National Association of Colleges and Employers, the competition for job opportunities has intensified. Industries such
Cooking on a budget has become a necessity for many Americans as the cost of living continues to rise. Jenn Lueke, a recipe developer based in Boston, has taken on the challenge of showing people how to eat well without breaking the bank. With prices increasing in every area, Lueke’s mission is to empower individuals