Author: Press Room
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As retirement looms, individuals must transition from an accumulation and asset-centric mindset to one focused on income and reliable cash flow. This shift from savings to decumulation is often discussed mostly in terms of 401(k)s and IRAs, but it really applies across asset classes and account types – including one’s primary residence. For many Americans, their home will represent not only their largest asset in retirement but also their largest expense. According to a 2023 report by Pew Research Center, the typical homeowner had roughly $174,000 in home equity and retirement accounts valued around $76,000. Despite being retirees’ largest asset,…
President Joe Biden’s Administration announced $1.2 billion in student loan forgiveness for qualifying borrowers enrolled in the Saving on Valuable Education (SAVE) plan, according to a White House statement. The move will zero out the balance for roughly 153,000 borrowers enrolled in the plan who have been making at least 10 years of payments and initially took out $12,000 or less for college. The administration is implementing this provision nearly six months ahead of schedule – it was originally scheduled for July. Borrowers who qualify will automatically have their debt discharged and will begin receiving emails from Biden this week telling…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.375% as of March 20, which is unchanged from yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.125%, which is also unchanged from yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying…
Credit card balances hit a new benchmark in the fourth quarter of 2023, with balances topping the $1 trillion mark for the first time, according to a recent TransUnion report. Balances increased by 13% over the previous year across all risk tiers, led by subprime, which grew 32% to $105 billion, the report said. Even as interest rates soared, the average balance grew to $6,360. The Federal Reserve has raised interest rates 11 times since 2022 to lower sky-high inflation to a 2% target rate. Now that inflation has moderated some, the Fed has slowed rate hikes, but its restrictive monetary policy…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3-year loans and lower for 5-year loans when compared to fixed-rate loans for the seven days before. For borrowers with credit scores of 720 or higher who used the Credible marketplace to…
Alaska Airlines is known for its Mileage Plan, which won the title of NerdWallert’s Best Airline Rewards Program for 2023 for its great reward rates, elite status benefits and reliability. It even ranked as the most pet-friendly airline. The free-to-join Mileage Plan makes it easy to collect reward miles by flying or by using Alaska Airlines’ Alaska Visa credit card. Bookings with participating hotels, cruises, rental car companies and ride-share services can also build reward miles, as can shopping with any of several partner vendors.All levels of the elite status program provide value without stacking up fees. Besides flights, miles…
Man, what a run it’s been. The S & P 500 is closing out the first quarter on an epic win streak: The index is up 10% year to date and an amazing 25% in the past five months. A run of 25% in any five-month period is a very rare event. Since 1950, there have only been seven other periods that have done better: S & P 500’s epic monthly win streaks Through March 2024 up 24.6% (current five-month streak) Aug. 31, 2020 up 35.4% (five-month streak) Aug. 31, 2009 up 27.9% (six-month streak) Jan. 31, 1999 up 33.6%…
Check out the companies making the biggest moves midday. RH — The luxury retailer surged 17.2% after offering strong full-year forecasts for demand and revenue growth. That allowed investors to look past a fourth-quarter earnings report that came in below expectations. Estée Lauder — Shares jumped more than 6% after Bank of America upgraded them to buy from neutral. The firm highlighted improving profitability, new products and rising presence in the prestige beauty sector. Reddit — Shares slipped 10.4% after CEO Steve Ladd Huffman disclosed he sold 500,000 shares and Chief Operating Officer Jennifer Wong disclosed she sold 514,00 shares.…
The United States is on the brink of a retirement crisis. By the end of the decade, about 21% of the country’s population will be 65 or older, up from 15% in 2016, according to forecasts by the Census Bureau. Most non-retired adults have some type of retirement savings, but only 36% think their savings are on track. We want to know what you think. Are you planning to work past 65? Are you able to save enough? Sound off below. Read the full article here
