Personal Finance
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Bad news for aspiring home buyers: One type of mortgage is becoming increasingly rare
Buying a cheap house, or one that’s $150,000 or less, may seem like an attractive idea for many renters who are seeing home prices spiral out of control. But finding financing to pay for that home can be a tall task. Mortgages to purchase homes under $150,000 have become “increasingly rare,” according to a new…
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Hey, politicians, keep your hands off our Social Security
Here we go again. Christie’s ideas include means-testing Social Security benefits for the very wealthy, and raising the retirement age for those in their 30s or 40s. Neither idea is totally crazy. Neither even need be draconian — at least in principle. But the devil, as usual, will be in the details. We were not…
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Half-point Bank of England hike called a possibility as U.K. inflation comes in hotter than forecast
A half-point interest rate hike from the Bank of England could be on the table after U.K. consumer prices rose a hotter-than-expected 8.7% in May, disappointing economists’ expectations for an ease to 8.4%. Data from the Office for National Statistics released on Wednesday also showed core inflation, which strips out volatile food and energy prices,…
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How can you know how much to save for retirement when the goalposts keep moving? Here’s a guide.
When it comes to preparing financially for retirement, Jessica Howard is wise beyond her years. “I absolutely am planning,” said Howard, 27, a Los Angeles-based care manager who schedules medical appointments and home health care for older adults.”“I have a drive to save for retirement because…I see 12 hours a day what can happen when…
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Experts worry a perfect ‘negative equity’ storm is brewing for many car owners; here’s what you can do if you’re caught in it
When Atlanta resident Morgan Nichole Scott financed a used Infiniti QX60 in late summer 2020, car prices were starting to skyrocket. But the single, working mother of four couldn’t delay the purchase because her old car had stopped running. Fast-forward to March 2023, when used-car prices had declined from record highs. Scott visited a dealership…
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Boomers ‘selling homes ahead of the recession’
If you’re on the cusp of retirement and you fear a recession is on its way, what steps should you take to protect your finances? For millions of Americans in this situation, one simple answer is: Sell your home while you still can. And move into somewhere smaller. (Or rent.) About 13% of baby boomers, or…
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New college grads: Start your financial life on the right foot with these 6 tips from experts
For new college graduates, receiving that first post-degree paycheck can be almost as exciting as getting the diploma itself. But it also presents a challenge: Given the many demands on a young person’s budget, how should those funds be managed? We asked five money experts to share their best personal finance strategies to help this…
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Do you really need an MBA? Here are some ways to get business skills without the steep price tag.
Lindsay Mack earned her bachelor’s degree from Georgetown University in 2005. Nearly 15 years later, when she considered the best way to grow her business acumen, an MBA was not it. Mack, who is from Philadelphia, grew her career without an MBA. When ready to advance her skills in platform strategy, she opted for a…
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Wall Street’s leading bear is doubting himself, a little. Here’s what is worrying Morgan Stanley’s Mike Wilson now
Arguably Wall Street’s most pessimistic voice has been so surprised by the market rally that he is questioning the firm’s own corporate earnings model. “Given we have been so wrong about the S&P 500 this year, we have been trying to decide if our earnings model may be misleading us,” says Mike Wilson, Morgan Stanley’s…
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‘It’s the reality of life.’ Disabled and DoorDashing for extra money at 67
William Smith worked in the restaurant industry his whole career and never thought much about retirement. When he was forced into retirement after getting hurt on the job, he had what he called a “pity party.” Now, at 67, he delivers for DoorDash to supplement his disability payments. His wife also is a “Dasher.” “It’s…