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Personal Finance

All articles tagged with #personal finance

personal-finance10 hours ago•7 min saved

Joy Under Pressure: Americans Spend for Happiness Amid Rising Costs

A YouGov survey for Ally Bank finds Americans are 'joy pressured' by inflation: while many still spend on joy, 72% feel guilty about joy purchases competing with other goals and 77% cut back on joy at times. The Joy Index averages 54.2, with higher incomes linked to higher scores but less emotional tax; boomers report the least guilt, while Gen Z and millennials report more. People balance joy with essentials, saving up or cutting back on necessities, and many view vacations and time with loved ones as the real luxuries, indicating a deliberate, value-driven approach to spending amid cost-of-living pressures.

via USA Today|

#cost-of-living #generational-differences #income-inequality

personal-finance3 days ago•4 min saved

Prenups expand to shield wishes in death and incapacity

Prenups are increasingly used as estate-planning tools to waive surviving-spouse rights granted by state law at death or incapacity, ensuring assets are distributed as intended. They should coordinate with wills, trusts, and powers of attorney, and be updated with changes in laws, finances, or family circumstances.

via USA Today|

#death-and-inheritance-laws #estate-planning #incapacity-planning

personal-finance3 days ago•5 min saved

Rethinking 62: Is Early Social Security Worth It?

The article weighs Dave Ramsey’s caution that taking Social Security at 62 and investing the checks may outperform waiting, against the guaranteed, inflation-adjusted increases from delaying benefits. It explains the break-even point—roughly age 80–82 per AARP data—where waiting surpasses early claiming in lifetime value, notes the risk of stock-market volatility, and highlights the impact on survivor benefits and the earnings test if you work before FRA. Bottom line: there’s no one-size-fits-all rule; plug your numbers into the Social Security site to tailor the decision based on health, cash needs, and life expectancy.

via AOL.com|

#break-even #investing #personal-finance

personal-finance4 days ago•5 min saved

Childless Americans Face Greater Retirement Worries Than Parents

A 2026 Allianz Center for the Future of Retirement survey found that 52% of childless Americans are confident about saving for retirement (vs 72% with children), while 71% worry rising living costs will affect retirement (vs 64% with kids). Many childless adults lack a written financial plan (62% vs 42%), and only 19.9% have a will, highlighting that not having kids does not automatically ease retirement planning—especially for singles facing higher housing costs and limited planning.

via USA Today|

#childless #cost-of-living #financial-planning

business4 days ago•21 min saved

Tariffs Push Back-to-School Costs Near $100 Per Child

Tariffs are driving up back-to-school shopping costs, with studies suggesting prices are higher this year. Parents are budgeting more tightly, reusing items from last year, omitting items on teachers’ lists, and some expect to incur debt as schools ask for nearly $100 of supplies per child.

via The Washington Post|

#back-to-school #business #education-costs

personal-finance7 days ago•3 min saved

State Farm kicks off $5B cash-back to auto policyholders, average around $100

State Farm Mutual began distributing a one-time $5 billion cash-back dividend to auto policyholders after stronger-than-expected underwriting, with average payouts around $100 per customer (range 4–10% of 2025 premiums, varying by state). Eligibility covers private passenger auto policies in 2025, with payouts issued in waves. Those with registered emails will get portal instructions to choose payment method, while others will receive a mailed check; the dividend does not affect future auto rates.

via NBC Chicago|

#auto #cash-back #dividend

personal-finance9 days ago•6 min saved

Couples Need About $1.16 Million to Retire, Varying by State Costs

Investopedia finds the typical 65+ couple needs about $1.16 million to retire comfortably, with state costs ranging from roughly $800k to about $1.33M. Housing costs drive about 27% of retirement expenses, and two Social Security checks cover roughly 45% of spending, reducing the nest egg needs for dual-earner couples to about $916k and for single-earner couples to about $1.21M. The analysis uses 2024 federal data and the 4% withdrawal rule, excluding retirement-income taxes and long-term-care costs from the model.

via AOL.com|

#housing-costs #nest-egg #personal-finance

personal-finance9 days ago•18 min saved

Medicaid Spousal Protection: Keeping the House, Car, and Savings When a Spouse Needs Long-Term Care

Medicaid’s spousal impoverishment protections let the at-home spouse shield the house, a car, and six figures in savings while the institutionalized spouse earns Medicaid long‑term care coverage. Key components are the Community Spouse Resource Allowance (CSRA) and the Minimum Monthly Maintenance Needs Allowance (MMMNA), with several assets exempt from countable assets. A snapshot of assets is taken when the ill spouse enters care, the community spouse’s protected share is calculated, and the remainder is spent down. Be mindful of a five‑year lookback on transfers, state-by-state variations, and potential estate recovery after both spouses die. The rules can provide real income for the protected spouse, but due to complexity and annual changes, consult an elder‑law attorney before acting.

via 24/7 Wall St.|

#csra #medicaid #mmmna

personal-finance10 days ago•19 min saved

Humana Exits 600,000 Medicare Advantage Members Ahead of 2027

Humana says it will terminate plans covering about 600,000 Medicare Advantage members in 2027 (roughly 8% of its MA base), with disenrollment letters going out in September 2026. The exit triggers a 63-day guaranteed-issue Medigap window (Plan G commonly) to buy coverage without health underwriting, plus ongoing enrollment options during AEP and a special enrollment period. Members should confirm their disenrollment date, secure Medigap quotes within the window, and compare Original Medicare plus a Medigap plan vs staying with another MA plan, as costs can vary widely.

via 24/7 Wall St.|

#health-insurance #humana #medicare

personal-finance12 days ago•15 min saved

PA Shoppers Begin Receiving Tariff Refunds From Carriers

Shippers such as FedEx, UPS, and DHL are starting to pass tariff refunds back to consumers who paid Trump-era tariffs last year, after the Supreme Court ended those tariffs. About $100 billion has already been refunded to companies, while direct consumer refunds are rolling out in phases to credit cards or bank accounts. Retailers mostly plan to use refunds to lower prices, rather than issue broad consumer refunds; FedEx has begun refunds around $800 million, UPS has paid $5 billion and is pursuing refunds, and DHL says it has filed claims for most eligible shipments.

via Patch|

#consumers #personal-finance #refunds

economy13 days ago•18 min saved

Inflation sticks around as Americans tighten belts and seek deals

As inflation keeps prices high, many Americans are trimming spending— hunting for bargains, doing DIY projects, and choosing cheaper options— while overall spending remains resilient thanks to a steady labor market.

via The Washington Post|

#consumer-prices #economic-indicators #economic-outlook

retirement-benefits14 days ago•15 min saved

2026 401(k) snapshot: balances rise with age, yet retirement gaps persist

Empower's 2026 data show the average 401(k) balance is $351,242, with age-stratified averages climbing from about $125k in the 20s to $223k in the 30s, $425k in the 40s, $643k in the 50s, and roughly $583k for those 60 and older; medians are much lower, signaling wide dispersion across balances. Focus on your own age group rather than comparing to others, and consider auto-investing apps (like Acorns) and high-yield savings (like SoFi) to boost growth, along with professional retirement planning guidance. The piece also touches on diversification ideas like gold IRAs and notes that sustainable withdrawals often rely on the 4% rule.

via Yahoo Finance|

#401k #age-groups #empower

politics14 days ago•18 min saved

Treasury proposes tax-free $2,500 deposits into children’s 'Trump accounts'

The Treasury Department proposed guidance would let parents contribute up to $2,500 per year tax-free to a child’s Trump account via payroll, with employers also able to contribute up to $2,500 annually for each child (counting toward a $5,000 total annual limit). Each child born between 2025 and 2028 could receive $1,000 in federal seed money for investments. If an employer doesn’t contribute, the employee can still contribute $2,500 pretax. The rule is open for public comments through Sept. 25 with a public hearing on Oct. 15, and more than 50 companies have pledged to contribute.

via The Washington Post|

#donald-trump #government-programs #personal-finance

business15 days ago•15 min saved

Homes as Lenders: Americans Tap Equity to Pay Bills

As home equity climbs to record highs, Americans are refinancing mortgages to pay off credit-card debt and other bills, turning their houses into de facto piggy banks; the trend is reshaping personal finance, with stories like Linda Boroski in Ohio showing how medical costs push households to tap equity, delaying renovations and family time.

via The New York Times|

#business #credit-card-debt #home-equity

advice16 days ago•8 min saved

GLP-1 Wins My Career, Now We Must Budget It Together

A Slate Pay Dirt reader explains spending a large share of her budget on GLP-1 medication not covered by insurance, which has improved weight, health, and even career prospects, while her husband views it as an unnecessary luxury. The column reframes the drug as a shared, essential investment in earning power and well-being, suggests checking employer coverage or savings programs, avoiding sketchy online pharmacies, and having a frank conversation about finances. If they can’t find a way to fund it, the marriage may face deeper issues.

via Slate|

#advice #healthcare-costs #personal-finance