In recent years, the trend of shrinking home sizes has become increasingly prevalent in the real estate market. According to data from the U.S. Census Bureau, the typical newly constructed single-family home in the first quarter of 2024 had a median of 2,140 square feet of floor space. This marks a decrease from the median
admin
In today’s world, a looming retirement savings crisis is becoming more apparent. Many individuals with 401(k) plans and other retirement balances are falling short of what they will need to sustain themselves during retirement. However, there is a glimmer of hope for some individuals known as “super savers.” These super savers are going above and
As you approach retirement with a substantial 401(k) or IRA balance, experts advise creating a plan to navigate potential tax implications. With the recent legislation of Secure 2.0, the age for required minimum distributions (RMDs) has been increased to 73, starting in 2023. These RMDs, linked to pre-tax retirement accounts, can push retirees into higher
In April, home prices reached a new record high, increasing by 6.3% compared to the previous year. This growth is surprising, especially considering the rise in mortgage rates and the increased supply of homes for sale in the market. Typically, higher mortgage rates and more available homes would lead to a weakening of prices. However,
In a recent interview with CNBC, Ming Wong, the vice president and CEO of Cisco Greater China, expressed his optimism about the company’s expanding business with Chinese electric car companies as they venture into overseas markets. Despite trade tensions and escalating tariffs on Chinese electric cars from the United States and likely the European Union,
The recent surge in inflation rates in 2022 has had a significant impact on retirees and near-retirees, forcing many individuals to reconsider their retirement plans. According to a survey conducted by Prudential Financial, a large number of 65-year-olds have postponed their retirement due to inflation, with 43% stating that they have had to delay their
The ongoing issues surrounding the new Free Application for Federal Student Aid (FAFSA) have had a detrimental impact on high school seniors and their families. Reports indicate that as of June 14, only 45% of high school graduates have successfully completed the FAFSA, a significant drop from the previous year’s 52%. This means that over
401(k) savings rates have reached historic levels as plan designs have evolved to make it easier for workers to save money for retirement. According to Vanguard’s yearly analysis, the average combined savings rate in 2023 was estimated to be 11.7%, matching the record high from the previous year. Similarly, a Fidelity report found a combined
When couples face financial stress, the ideal approach is to have open and honest discussions about their concerns. However, a study conducted by Cornell University reveals that this is often not the case. According to research co-author Emily Garbinsky, individuals under stress tend to believe that initiating conversations about money with their partners will only
Ferrari, known for its roaring combustion engines, is set to launch its all-electric model in the fourth quarter of 2025. Ferrari CEO Benedetto Vigna has described the all-electric model as having all the driving traits and emotion of a true Ferrari. According to Vigna, the defining characteristic of a Ferrari is the emotional experience, and
