Tuesday, April 7, 2026

COVID-19 Impacts Retirement Planning

Sat, 26 December 2020  |  retirement pandemic 

The economic impact of the COVID-19 pandemic has changed the retirement timeline for 30% of Americans, according to research from Northwestern Mutual's 2020 Planning & Progress Study. The study finds that 20% of U.S. adults age 18+ plan to delay retirement beyond what they expected, while 10% plan to accelerate their timelines and retire earlier than anticipated.

Millennials are the most likely generation to move up their planned retirement date, with nearly one in six (15%) saying they would accelerate their plans. This compares to less than one in 10 among Gen Z (8%), Gen X (6... Read More

U.S. Retail Sales Grew 3.0% This Holiday Season

Sat, 26 December 2020  |  holiday retail sales 

According to Mastercard SpendingPulseâ„¢, holiday retail sales excluding automotive and gasoline increased 3.0% this expanded holiday season, running from October 11 through December 24. Notably, online sales grew 49.0% compared to 2019, the preliminary insights show. Mastercard SpendingPulse measures overall retail spending trends across all payment types, including cash and check.

“American consumers turned the holiday season on its head, redefining ‘home for the holidays’ in a uniquely 2020 way. They shopped from home for the home, leading to record e-commerce growth,â€... Read More

Consumer Confidence Declines Again in December

Tue, 22 December 2020  |  consumer confidence employment 

Consumer confidence declined again in December according to the The Conference Board Consumer Confidence Index®, after decreasing in November. The Index now stands at 88.6 (1985=100), down from 92.9 in November. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – decreased sharply from 105.9 to 90.3. However, the Expectations Index – based on consumers’ short-term outlook for income, business, and labor market conditions – increas... Read More

Credit Access Survey Shows Plunge in Credit Demand and Access

Mon, 21 December 2020  |  credit cards mortgages borrowing 

The Federal Reserve Bank of New York’s Center for Microeconomic Data today released results from its latest Survey of Consumer Expectations (SCE) Credit Access Survey, which provides information on consumers’ experiences with, and expectations about, credit demand and credit access. The survey is fielded every four months, most recently in October 2020, and a press release summarizing trends from the past year is issued annually.

The latest Credit Access Survey reveals the stark imprint of the pandemic on consumer ... Read More

November Was the Best Month to Buy a Home in 2020

Sun, 20 December 2020  |  housing mortgages 

November was the most affordable month to buy a home in 2020, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. The median monthly mortgage payment nationwide reached a low of $1,094 in November, down from a peak of $1,163 in February, the month before the coronavirus was declared a pandemic.

Redfin analyzed median monthly mortgage payments based on each month's median list price and average mortgage rate by month, both nationall... Read More

Majority of Americans Prioritize Mental Health and Well-Being Over Material Possessions

Thu, 17 December 2020  |  financial wellness retirement 

A new survey from Voya Financial finds that a majority (73%) of Americans agree that material goods matter less given their experiences with the COVID-19 pandemic. As the priorities of many individuals are shifting when it comes to both health and wealth, Voya’s survey also found a majority (75%) of Americans have become more focused on their mental health and emotional well-being, emphasizing the concept that wealth has garnered new shades beyond financial means.

The results of Voya’s new survey reveal that many individuals will likely be seeking a fresh outlook in 2021 and bey... Read More