Ways to Survive an Economic Downturn | expenses

Recent estimates from a Federal Reserve GDP tracker point to a 2.1% decline in real GDP growth in the second quarter of this year, suggesting that the US may already be in recession. But business cycles can be difficult to predict, so it’s important to always have a plan to weather future economic downturns. In … Read more

Can you retire early despite the recent downturn in the stock market? † Smart Change: Personal Finance

(Maurie Backman) Many people dream of taking early retirement, whether it’s to escape a stressful job or enjoy activities such as traveling while they are still quite young. If you were planning on taking early retirement, starting in a year or two, you may now be wondering if moving forward is possible given the recent … Read more

5 Stocks and Industries That Moved the Market in June | Personal Finance

You can now expect every day your latest quarterly 401(k) statement from your employer showing the current value of your savings, and you probably expect that the inventory and fund portion of your savings has declined in value since your last statement. Knowing that inflation is much higher than normal, interest rates are rising and … Read more

Are you taxed on your Social Security income? Here’s how to find out. † Smart Change: Personal Finance

(Mark blank) When it comes to Social Security benefits, most of us don’t think about taxes. But the harsh reality is that the Social Security Administration (SSA) estimates that about 56% of beneficiaries will have to pay a certain amount of tax on their distributions. With that in mind, it’s incredibly important to understand how … Read more

Social Security Recipients May Soon See Biggest Benefits Change in Over 40 Years | Smart Change: Personal Finance

(Christy Bieber) For fixed-income retirees, major changes in Social Security benefits can profoundly affect their finances. And retirees are likely to see such a change next year. In fact, seniors will find their benefits undergoing one of the largest increases in more than 40 years. This is why Social Security benefits change so much. Image … Read more

Social Security Increases Often Fail Seniors; Proponents want to change the way cost of living adjustments are calculated | Personal Finance

You can now expect every day your latest quarterly 401(k) statement from your employer showing the current value of your savings, and you probably expect that the inventory and fund portion of your savings has declined in value since your last statement. Knowing that inflation is much higher than normal, interest rates are rising and … Read more

Are 0% Interest Student Loans Better Than $10K Cancellation? † Personal Finance

Cecilia Clark Cancellation is the most popular proposal for tackling student loan debt, but it’s not all there is. With the interest-free payment break for student loans in the third year, some are wondering if 0% interest on student loans is a better answer. “I think this COVID break has really illustrated – hopefully for … Read more

‘Peak inflation hasn’t arrived yet’: rents continue to rise, putting potential home buyers under pressure. That’s bad news for the Fed.

Rents will continue to rise through the end of the year, contributing to inflation, economists say. With house prices and mortgage rates so high, many potential homeowners are choosing to rent longer and wait for prices to normalize. But rents are also rising, aided by a housing shortage that is raising the cost of living … Read more

Hot labor market and large layoffs continue despite threat of recession

Mixetto | E+ | Getty Images Workers are still reaping the benefits of a hot job market characterized by few layoffs, many job openings and high levels of voluntary departures, according to data from the US Department of Labor released Wednesday. The numbers show that the pandemic-era trend known as the Great Resignation is still … Read more