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☆ Retirement goal expectations vs. reality: How Americans stack up
▼ + stars: | 2023-10-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

In fact, 45% of Gen Z and millennial workers feel somewhat optimistic. And yet, Gen Z workers are the biggest cohort of non-savers, Bankrate also found. The average 401(k) balance among boomers is $220,900, according to the latest data from Fidelity Investments, the nation's largest provider of 401(k) plans. For Gen Z, the average balance is $8,100. They are also significantly more likely to have at least $100,000 in a retirement savings account, the report found.

Persons: Xers, Z, Bankrate, Gen Xers, Douglas Boneparth, anther, Boneparth Organizations: Fidelity Investments, Bone, Northwestern Mutual, CNBC, Council, Country Financial Locations: New York

☆ Investors have turned away from a key part of the stock market. Here's why.
▼ + stars: | 2023-05-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 23, 2018. US stock futures rise early Thursday, as investors await the weekly jobless claims report to measure the strength of the labor market. It revealed just a week ago that it already holds $1.5 billion of the world's most popular token. Here are the five bank stocks to bet on now. The tech giant's stock has rallied on its AI efforts, and it surpassed the key threshold for the first time since May 2022.

☆ Americans are feeling financially less secure now thanks to high interest rates and the risk of a recession
▼ + stars: | 2023-05-17 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Americans are feeling less financially secure now compared to the end of last year, according to a recent poll. Half of Americans are taking steps to cut back on monthly bills and are dining out less often to save more money, per the survey. Half of Americans are taking steps to cut back on their monthly bills and are dining out less often to save money, per the survey. Higher rates help to curb the pace of price increases by making borrowing more expensive, and encouraging saving over spending. However, they can also sap demand in the economy, and drag down the prices of stocks, houses, and other assets.

☆ Stashing cash: 71% of Americans are setting more money aside amid recession fears, new report finds
▼ + stars: | 2023-05-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Renewed fears of a possible recession have spurred more households to adjust their spending habits — finally. Broadly, Americans are cutting back, particularly on discretionary purchases, and saving more, according to recent reports on the state of the consumer by the Bank of America Institute and Deloitte. Now, 71% of Americans are likely to keep cash on hand, according to a new Country Financial security index. Other consumers are driving less to save on gas or canceling some streaming services. Even as Americans are more likely to keep cash on hand, most said they don't know the best ways to save to reach their short- or long-term savings goals, according to Country Financial.

☆ Amid persistent inflation, 54% of Americans are using savings to pay for everyday expenses
▼ + stars: | 2023-02-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Inflation is still taking a hefty toll on households, recent reports show. Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics. To make ends meet, 27% of Americans said they've had to take money out of savings and more than half, or 54%, said they used that money to pay for everyday expenses, such as groceries and rent, the recent Country Financial Security Index found. More from Personal Finance:What is a 'rolling recession' and how does it impact you? "Inflation has shredded household budgets over the past two years, and not just when it comes to one-off discretionary expenses or special occasions, but for keeping up with day-to-day bills," said Greg McBride, chief financial analyst at Bankrate.com.

If your car is broken into, comprehensive and full coverage car insurance will cover damage or theft of the car. Car insurance, renters insurance, and homeowners insurance all come into play. Comprehensive car insurance covers theft from break-insThere are three main types of car insurance: comprehensive, collision, and liability. Steps to file a claim for car theft or break-insIf personal items are stolen from your car, comprehensive coverage car insurance, full coverage car insurance, and homeowners or renters insurance will cover your personal belongings. If your car itself has been stolen, you will need comprehensive or full coverage car insurance.

☆ From buy now, pay later to Venmo, here are 4 of the best ways to pay for holiday gifts
▼ + stars: | 2022-11-09 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

From credit cards to cash, installment buying and payment apps, here's a breakdown of some of the best ways to pay this holiday. When it comes to holiday shopping, cashback or rewards cards offer an added bonus of 2% or more in certain categories. (CNBC’s Select has a full roundup of the best cards for holiday shopping.) "Credit cards should only be used if you can pay them in full each month," cautioned Chelsie Moore, director of wealth management solutions at Country Financial. The ability to spread out a purchase with no interest offers another distinct advantage over credit cards.

If you're at fault for an accident, your car insurance premiums may increase. See Insider's guide to the best car insurance companies. How Long Does A Car Accident Affect My Auto Insurance Rates? If You Were Not At Fault, Will Your Auto Insurance Rates Increase? What Can I Do to Minimize The Impact of Auto Accidents on My Car Insurance Premiums?

Of those respondents, 28% said they've paid off debt with financial help from friends and family. They were more likely than other generations in general to say they've received help from family in paying off debt. As of 2019, student-loan debt is at an all-time high with a national total of $1.5 trillion. According to Student Loan Hero, the average student-loan debt per graduating student in 2018 who took out loans was a whopping $29,800. Paying off student-loan debt is the most significant life milestone millennials think they can achieve, according to a survey by personal finance company SoFi.

Nearly 80% of American parents financially support their adult children, according to a 2018 Merrill Lynch survey. A 2018 Merrill Lynch survey revealed that 79% of US parents provide financial support to their adult children, contributing to $500 billion spent annually. According to the Merrill Lynch survey, parents today are largely helping out with food and groceries, cell phone bills, and car expenses. Many parents surveyed would make various financial sacrifices for their adult children. When it comes to homebuying, 26% of parents told Merrill Lynch they would help their child with a down payment.

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