Friday, April 3, 2026

Average Millennial Owes $117K

Thu, 28 July 2022  |  consumers debt 

Almost all (90%) of American millennials have experienced non-mortgage credit at one point or another, with 72% of millennials currently owing non-mortgage debt of $117,000 on average, according to a new report by Real Estate Witch, an online publication that provides expert real estate advice.

A survey of 1,000 millennials found that 67% had credit card debt. This makes it the most common type of debt among them. The average credit card debt amount is $5,349.

Student loan debt was next, with 48% of millennials reporting they had student loans and owed ... Read More

Will The Housing Bubble Burst?

Thu, 28 July 2022  |  housing 

Owning a home has been the focal point of the American Dream for over 100 years. Rising property prices in recent years have made it increasingly difficult for more Americans to realize that ambition. The ongoing increase in housing costs indicated a seller's market for homeowners. This implies that the lack of inventory, high prices, and rising interest rates might be challenging for anyone trying to buy or rent a property.

But is there relief in sight? Many prospective homeowners are wondering whether the housing bubble is about to pop like it did in 2008, plunging the U.S... Read More

Envestnet Examines Keys to Unlocking Complicated Financial Relationships

Thu, 28 July 2022  |  financial advice 

Envestnet released the results of its first national study, "The Intelligent Financial Life: The Unexpected Intersection Between Technology, Clarity, and the Human Connection," which was conducted in collaboration with The Center for Generational Kinetics. The study revealed unexpected trends, attitudes, and behaviors that Americans across generations have regarding utilizing financial advisors and new technology to help them achieve their financial goals.

The study offers evidence-based perceptions about what's required to support people's accomplishments. The Intelligent Finan... Read More

Older Homeowners Least Likely To Tap Home Equity

Wed, 27 July 2022  |  housing 

Finance of America Reverse LLC (FAR), a leader in retirement solutions asked The Harris Poll to conduct a survey of 2,000 homeowners in the United States aged 18 or older to gain an understanding about home equity, its potential uses, and how it can be used to help homeowners achieve their long-term financial goals.

It was found that older homeowners are less likely to use home equity loans than those in younger generations. This is despite the fact that older homeowners are more likely to benefit from these financing options with U.S. homeowners over 62 having more than $10... Read More

Majority of Americans Need Financial Planning Improvement

Wed, 27 July 2022  |  financial planning 

According to the Northwestern Mutual 2022 Planning & Progress Study, more than 62% of Americans (62%) believe their financial planning is in need of improvement. However, only 35% of Americans seek out financial advice.

Data also showed a trend that shows a large number of people recognize the importance of seeking help in the near future. This is a trend that has been evident for the past two years. Nearly one-fifth (18%) of Americans say that they did not have an advisor prior to the COVID-19 pandemic. However, they have either started working with someone or are planning ... Read More

Americans Preparing For Recession

Wed, 27 July 2022  |  consumers economy 

Prudential Financial, Inc.'s latest Pulse research series "Americans Prepare For the Economy's New Act" finds that fears of an economic downturn as well as high inflation could threaten the financial stability and confidence of Americans right after the end of the pandemic.

Among the key findings of this report are:

• 74% expect a recession in the next two-years-- while 79% worry about how inflation might impact their fina... Read More
  
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