Personal finance
Why the Fed’s rate cut won’t immediately help car buyers or sales
Alex Tovstanovsky, owner of used-car dealer Prestige Motor Works, checks on inventory with his general manager Ryan Caton in Naperville, Illinois, May 28, 2020. Nick Carey | Reuters DETROIT — The Federal Reserve’s decision to cut interest rates for the first time in more than four years is expected to eventually boost new vehicle sales, […]
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States forge ahead with Inflation Reduction Act energy rebates — so far, South Dakota is the only one to opt out
Key Points The Inflation Reduction Act created two consumer rebate programs tied to energy efficiency. They’re respectively worth up to $8,000 and $14,000 for consumers, depending on criteria like income and specific efficiency-related upgrades or purchases. Arizona, Maine, New York, New Mexico, Rhode Island and Wisconsin started rolling out their rebate programs. Many others have […]
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Take a look inside a $1.1 million ‘zero emissions’ home
Key Points The White House in June issued guidelines that defined standards for a “zero emissions” building. Morgan Wojciechowski’s Williamsburg, Virginia, home is among the first to receive that label. Residential and commercial buildings account for almost a third of U.S. greenhouse gas emissions. Source
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Gen Z and millennials are increasingly ‘doom spending.’ Here’s what it is and how to stop it
Westend61 | Westend61 | Getty Images Some young people are splashing out on luxuries like travel and designer clothes instead of saving, in a trend that’s being characterized as “doom spending” on social media. Doom spending is when a person mindlessly shops to self-soothe because they feel pessimistic about the economy and their future, according […]
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401(k) savers can access one of the ‘rare guarantees’ in investing, CFP says
Key Points A 401(k) match is often considered free money. Most employers offering a 401(k) plan make a matching contribution on workers’ savings. Workers may need to stay at the company for a certain number of years before the match is fully theirs, however. Source
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Pesky medical bill? Most people don’t take a key step to manage that debt, study finds
Key Points Many people don’t dispute potential errors on their medical bills because they feel it’s ineffective. However, calling a health provider to address a financial concern can, for example, help correct, reduce or eliminate one’s bill, according to a University of Southern California study. Doing nothing and avoiding payment may result in late fees […]
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Volatility looms as election season heats up. Fortify your portfolio against autumn market shocks
Stocks roared higher in a delayed relief rally on Thursday, following the Federal Reserve’s jumbo-sized interest rate cut Wednesday, but rocky times may be ahead – and investors will want to prepare for that volatility. Excitement over the central bank’s half-point rate cut lifted the S & P 500 over the 5,700 threshold for the […]
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Biden’s student debt forgiveness plan to remain blocked, federal judge orders
US President Joe Biden looks on before speaking ahead of the 30th anniversary of the Violence Against Women Act on the South Lawn of the White House in Washington, DC, September 12, 2024. Andrew Caballero-Reynolds | AFP | Getty Images A federal judge has extended a temporary restraining order against the Biden administration’s latest student loan forgiveness […]
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Planning to delay retirement may not rescue you from poor savings
Key Points Many people expect to keep working because they need extra retirement income. However, research shows workers often retire earlier than planned, perhaps due to a layoff or poor health. That means workers can’t rely on delayed retirement as a financial plan. For those who are able, working longer is among the best ways […]
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This 38-year-old is financially independent with passive income. Here’s how he built a 7-figure real estate portfolio
Shu Matsuo Post, 38, built a $2 million real estate portfolio, according to documents seen by CNBC Make It. Courtesy of Shu Matsuo Post The idea of financial independence can mean different things to different people, but one common way to define it is having enough money that you no longer need to rely on […]
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