As the holiday shopping season reaches its peak, consumers are not just excited about their purchases but also steeling themselves for the inevitable returns that follow—a phenomenon aptly dubbed “Returnuary.” As we embark on the new year, the National Retail Federation (NRF) anticipates a staggering 17% of all merchandise sales will be returned in 2024,
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In recent years, the landscape of retirement savings has been undergoing a significant transformation, particularly among millennials. In what was once considered merely aspirational, hitting the $1 million mark in retirement accounts is increasingly becoming a reality for this generation—a noteworthy shift from previous decades. The rise in the number of younger individuals meeting this
As the U.S. Congress races against the clock to prevent a government shutdown, it simultaneously faces pressing issues regarding Social Security reform. A significant piece of legislation currently on the table is the Social Security Fairness Act, which is poised to address long-standing inequities in benefits for public workers. However, this bill’s future is rife
As economic policies evolve under new leadership, the specter of tariffs on imported goods looms larger than ever, particularly within the automotive sector. President-elect Donald Trump has not shied away from discussing the implementation of substantial tariffs, notably a proposed additional 10% tariff on products imported from China, alongside another anticipated 25% on goods coming
As we move through 2023, a notable upward trend in the average savings rate associated with 401(k) plans has emerged, as highlighted by the results of a recent industry survey. The average combined savings rate—taking into account employee contributions and employer matches—has risen to an impressive 12.7%, up from 12.1% in the previous year. This
In 2023, a significant mishap during the transfer of student loan accounts from NelNet to Mohela sparked widespread concern among lawmakers and consumers alike. This flawed transition has reportedly resulted in millions of inaccuracies on consumer credit reports, causing unnecessary distress and financial repercussions for borrowers. Lawmakers, including notable figures such as Senator Elizabeth Warren
As the market for cryptocurrencies continues to fluctuate, many investors find themselves at a crossroads with their bitcoin investments. The cryptocurrency, after experiencing a remarkable growth year, has prompted many to reconsider their strategies. With bitcoin recently surpassing the noteworthy milestone of $100,000, the allure of locking in profits or rebalancing portfolios has never been
For those looking to enhance their retirement savings, there’s no better time than now to consider increasing 401(k) contributions in anticipation of the new fiscal year. According to financial advisors, the opportunities for 2025 are more promising than ever, with contribution limits set to rise significantly. Workers can now defer up to $23,500 into their
Since the November U.S. election, cryptocurrency markets have experienced a significant surge, highlighted by Bitcoin recently soaring to an unprecedented price of over $107,000. This bullish trend comes amidst a shifting political landscape as President-elect Donald Trump lays out his intentions to foster an environment favorable to cryptocurrencies. However, despite this enthusiasm in the digital
As the Federal Reserve braces itself for a likely interest rate reduction in the coming week, the financial landscape is ripe for savvy consumers ready to make their hard-earned cash work harder for them. Experts forecast a reduction of approximately 0.25%, representing the third cut since September, which would accumulate to a full percentage point