Monday, December 23, 2024

Economic Uncertainty and Inflation Impact Retirement Prospects for Americans

Mon, 13 May 2024  |  economy retirement 

As economic ambiguity and inflation heighten investors' retirement concerns, Americans are coming to terms with a difficult reality: their retirement prospects are more uncertain than they anticipated, and their inability to know what to expect in the future is throwing their plans into flux.

According to Nationwide's ninth annual Advisor Authority survey, powered by the Nationwide Retirement Institute®, more than 6 in 10 (61%) investors say their expectations for retirement have changed significantly in the last five years. Nearly half report that their dreams for retirement ha... Read More

AARP Survey Reveals Alarming Retirement Savings Trends

Fri, 26 April 2024  |  retirement 

In a recent survey conducted by AARP, concerning insights into the financial preparedness of adults aged 50 and above have been unveiled, painting a worrying picture of retirement readiness in the United States.

The survey found that a significant portion of adults in this age group, precisely 20%, have no retirement savings whatsoever. Furthermore, a staggering 61% expressed concerns about whether they will have sufficient funds to support themselves during retirement.

An interesting gender disparity was also noted. The overall sense of financial security among men has seen... Read More

Hispanic Consumers More Optimistic About Finances

Mon, 22 April 2024  |  demographics economy finances 

Hispanics were more optimistic about their finances and the economy due to the declining unemployment rate among Hispanics according to a new poll from the  Florida Atlantic University.  

The Hispanic Consumer Sentiment Index (HCSI) increased to 85.3 in the first quarter of the year, an uptick from 76.3 in the fourth quarter of 2023. Overall, optimism increased in the five questions used to generate the HCSI when compared to the fourth quarter of 2023.

Fifty-nine percent of Hispanics indicated they were bett... Read More

Homeowners Facing Increasing Insurance Rates

Thu, 11 April 2024  |  housing inflation insurance 

In an evolving market landscape shaped by external pressures, homeowner insurance rates have increased significantly over the past year. The period from 2023 to 2024 has been marked by shifts driven largely by climate change, economic turbulence, and technological advancements. 

In 2023, regions vulnerable to natural disasters witnessed some of the most significant premium increases. For instance, California, frequently battling wildfires, saw homeowner insurance rates surge by an average of 18% year-over-year. Similarly, Florida and Louisiana, often in the path of destructive hu... Read More

U.S. Foreclosures Increase In First Quarter

Thu, 11 April 2024  |  housing 

In the latest report released by ATTOM, an aggregator of land, property, and real estate data, the U.S. foreclosure market appears to be navigating through a period of mild fluctuations. According to the Q1 2024 U.S. Foreclosure Market Report, the nation saw a total of 95,349 properties with foreclosure filings during the first quarter of the year. This represents a slight increase of 3 percent from the last quarter but reveals a minor decrease of less than 1 percent compared to the same period last year.

The data for March 2024 indicates a total of 32,878 U.S. properties faced fore... Read More

Consumers Perceive Less Buying Power Despite Lower Inflation

Wed, 10 April 2024  |  consumers economy 

A new survey from Equitable finds that a vast majority of consumers, about 75%, perceive that their money does not extend as far as it did just a year ago. Although inflation has decreased significantly from its peak in June of 2022, it remains the predominant financial challenge for many. According to the survey, 39% of respondents identify inflation as the largest barrier to achieving their financial objectives, a figure more than double those concerned with high expenses (17%), low income (10%), and the effects of high interest rates on debt (8%).

"We live in an uncertain world, an... Read More