Thu, 15 February 2024 | consumers economy
While Black consumers frequently report facing numerous signs of financial stress, expectations that their financial health will improve far exceed that of consumers from other demographics, according to the results of a new survey by Achieve, a digital finance company.
Achieve surveyed Black Americans to understand the key financial pain points and goals facing this community and found that inflation and debt make it difficult for many to meet their financial goals. Black consumers reported having limited funds in their checking and savings accounts and many had expectations that the... Read More
Thu, 15 February 2024 | retirement financial wellness
The American College of Financial Services 2023 Retirement Income Literacy Study finds that older Americans lack actionable retirement knowledge—averaging 31% on a retirement literacy quiz. The study reinforces the direct relationships that exist between financial literacy and factors such as asset level, as respondents with more than $1.5 million score twice as high as those with less than $100,000 (50% vs. 25%). The study also reveals the essential role financial professionals play in educating clients, as advised respondents have higher retirement income literacy ... Read More
Fri, 09 February 2024 | high net worth wealth management
The investment world is continuously transforming, offering high net worth individuals a broad spectrum of unique products and services tailored to meet their complex financial needs. Leading the charge are firms like Goldman Sachs, Merrill Lynch, Morgan Stanley, and UBS, each providing a blend of innovation and deep market insight to help their clients navigate their financial journey.
Bespoke Investment Solutions
High net worth individuals require more than generic investment advice. Acknowledging this, firms such as Merrill Lynch and Morgan Stanley craf... Read More
Thu, 01 February 2024 | consumers spending
Every February, Americans celebrate their commitment to one another, shining a bright light on love and relationships. However, the Fidelity Investments® 2024 Couples and Money study reveals that couples may not be as compatible as they believe, with 45% of partners admitting they argue about money at least occasionally. While over one-fourth of couples say money is the biggest obstacle in their relationship, there is good news: over half of respondents feel very good or outstanding about their financial situation, and 27% of boomers say their love language is creating a financial plan tog... Read More
Mon, 22 January 2024 | consumers economy
According to the recently released KeyBank 2024 Financial Mobility Survey, a staggering 66% of Americans would choose to work at a job they love even if it paid less than their current salary (34%). At the same time, a quarter of Americans say they're saving less and spending more, up from 13% in 2021 and 15% in 2022. Additionally, 60% of Americans think a recession is underway or will occur soon, suggesting that people are putting their happiness first while preparing for financial difficulties.
Indeed, almost one-third (30%) of poll participants report experiencing daily financial s... Read More
Thu, 18 January 2024 | housing
According to the January 2024 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group, the housing market is anticipated to gradually return to a more normal balance in 2024, following years of significant oscillations in mortgage rates and divergences of key housing market measures from their historical, pre-pandemic relationships.
According to the ESR Group, mortgage rates will drop in 2024 and finish the year at less than 6%. Refinance volumes are predicted to nearly double from their 2023 levels in 2024 due to the reduced interest rate environment. These v... Read More
News and insights about consumer and demographic financial trends
The Hidden Cost of Idle Cash: What the Vanguard Survey Reveals About America’s Savings Habits
Consumers Growing Cautious Amid Rising Inflation and Economic Uncertainty
US Taxpayers Say Tax Refunds are a Financial Necessity
Consumer Pessimism Grows Despite Stable Long-Term Inflation Expectations
Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation