The average American’s Retirement Score has dropped to 78, a decrease from its 2020 all-time high of 83, according to the latest Retirement Savings Assessment report by Fidelity Investments.  This means the typical American has a 78% chance of covering estimated retirement expenses in a down market, based on Fidelity’s…

As Americans cope with high inflation, many said their stress levels were at an all-time high, according to a recent survey by Clever Real Estate.  In fact, 61% of respondents said they have never been more stressed and 80% reported they were stressed about the cost of living, the survey…

The Federal Reserve is expected to raise interest rates by another 25 basis points during its May meeting, according to economists polled by Reuters.  The move would come following the collapse of financial institutions Silicon Valley Bank (SVB) and Signature Bank, which sent shockwaves throughout the banking industry. Some economists…

The average 30-year fixed-rate mortgage rate increased to 6.43% for the week ending April 27, 2023, according to the latest Freddie Mac data. That’s up from last week when it averaged 6.39%. A year ago, it averaged 5.10%.  The average 15-year fixed-rate mortgage rate decreased to 5.71%, down from last…

The Department of Education has issued guidance to student loan companies about collecting federal student loan payments after a three-year pause, according to documents obtained by Politico through a federal records request.  The documents, which were filed in November, indicated that the Education Department expected the first monthly payments to…

Bank deposits dropped by $76.2 billion for in mid-April, according to seasonally adjusted data released by the Federal Reserve. Although large and foreign financial institutions saw a plunge in deposits, small domestic banks also experienced a shrinkage in deposits, the Fed reported. Deposits at small U.S. banks fell by 4.6…

Many Americans have shrugged off rising costs and interest rates and said that 2023 is the year to buy a home, according to a recent TD Bank survey. Among respondents looking to purchase a home for the first time in 2023, 39% said now is a good time to buy and…

The catchy “cash stuffing” trend you may have heard about incorporates some old-school budgetary practices blended with a tangible approach to keep a handle on spending habits.  “Cash stuffing is the current take on the age-old ‘envelope system’ of budgeting – taking cash and stuffing envelopes, or folders, or whatever…

As Americans grapple with high inflation and raised interest rates, their financial well-being has taken a toll, according to a survey by Morning Consult.  “Consumers are slightly worse off now than at this time last year,” Morning Consult said in its report. While recent economic concerns have affected Americans across income…

Americans increased their savings for Health Savings Accounts (HSA) as Fidelity Investments reported its HSA assets surpassed $16 billion. The increased its funded HSAs by 27% from last year to a total of 2.8 million funded accounts. But while they were putting more money into HSA savings, more than half…