All articles tagged with #personal finance
Trump highlighted a GOP-created federal program, dubbed 'Trump accounts,' that would seed $1,000 per child born during his second term into investment accounts; the plan was added by last summer’s tax-and-spending law and is intended to promote saving for children.
In his State of the Union address, Trump floated a major new federal-style retirement benefit for roughly 54 million private-sector workers, but the White House lacks the legal authority to enact it and experts are skeptical about the proposed legislation.
BuzzFeed’s entertainment list compiles 29 real-life anecdotes of people whose lives spiraled after sudden financial setbacks, illustrating how a single morning can cascade into lasting chaos and force dramatic changes in plans and finances.
A BuzzFeed editor highlights reader-submitted frugal tips that backfire, showing many popular money-saving hacks—from DIY projects and coupons to chasing the cheapest gas or early-morning flights—cost more time, money, or effort than they save, urging smarter budgeting and a focus on meaningful savings.
MarketWatch notes that only about 7% of Americans earn 4% APY or more on savings, yet several banks currently offer 4%+ APYs. It lists five options—Axos Bank Axos ONE Savings (4.21% APY, $1,500 min), Openbank by Santander (4.20%, $500 min), LendingClub Level Up Savings (4.00%, $250+ monthly deposits), Bread Savings High-Yield Savings (4.00%, $100 min), and VIO Bank (4.02%, $100 min). The piece advises shoppers to compare rates and consider CDs for fixed returns, highlighting the large gap between traditional banks and high-yield digital accounts.
A 61-year-old couple with $1 million saved, two lifetime pensions (about $14,000 a month) and three homes weighs whether they can retire early. With mortgages still decades from payoff, selling one property could unlock extra equity, but retirement feasibility hinges on current expenses, health costs until 65, taxes on withdrawals, and survivorship decisions. Market-win advisers say a fiduciary financial planner can help model timelines, optimize Social Security and Medicare, and craft a withdrawal plan to determine if retirement next year is realistic.
NEADA projects the average winter heating cost nationwide near $995, with electric-heated homes topping $1,000. A massive upcoming winter storm could drive bills higher for over 200 million people, while about 16% of households were behind on utility payments last year (roughly $23 billion). Arrears could reach around $28 billion in 2026 as energy costs and inflation press household finances. Utilities are offering relief programs, but many families may still struggle to heat their homes this winter.
A practical list of nine money-saving moves—ranging from leveraging membership perks and placing emergency funds in high-yield accounts to trimming mobile and auto-insurance costs, planning for vehicle maintenance, reassessing transportation, and starting small investments—to turn frugal habits into long-term financial growth.
Dave Ramsey argues that claiming Social Security at 62 can build more wealth over a lifetime than waiting until 70, citing longevity risk and the value of investing early benefits. He notes that delaying to 70 only pays off if you live long enough to offset years without benefits, and for many retirees the opportunity cost of waiting or using other income sources could yield higher total retirement income. Ultimately, the best filing age is a personal decision based on health, savings, and goals.
A wife who learned to live in the moment after her parents’ deaths teams up with a husband who saves aggressively for an early retirement; their complementary approaches help them blend enjoying current experiences with future security, including shared dreams like travel, meals out, and possibly a small cafe, with retirement still on the horizon in their 50s.
President Trump proposes a 10 percent cap on credit card interest rates, a move aimed at affordability that could lower borrowing costs for consumers but may restrict lenders’ ability to extend credit, prompting pushback from banks.
XRPL developer Bird says there is no universal XRP holding target; the right amount depends on individual circumstances, cost of living, goals, and risk tolerance. He cites 10,000 XRP as a rough reference, not a rule, and cautions against chasing online numbers, stressing that a sustainable, personalized plan matters more than token counts.
About 41% of car trade-ins roll over debt into new seven-year loans, extending payments and leaving buyers underwater; rising car costs are pushing households to stretch loan terms, making auto ownership increasingly unaffordable.
New research finds about 50% of people who stop GLP-1 weight-loss drugs Wegovy or Zepbound regain all the weight they lost within two years, with cost and gastrointestinal side effects driving discontinuation. As patients seek durable results, doctors point to a mix of options—from bariatric procedures and endoscopic sleeve gastroplasty to new oral GLP-1 pills like Wegovy’s pill and Lilly’s orforglipron—though real-world adherence and insurance coverage remain uncertain.
Elon Musk claims AI, energy, and robotics will create such abundance that retirement savings won’t matter, but seven personal-finance and AI experts say Americans should still save for retirement. They warn about Social Security funding shortfalls, uneven productivity gains, and ongoing cost‑of‑living pressures, arguing that relying on future abundance is risky and that individual saving remains essential.