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Mortgage rates fall to lowest level since February 2023
  + stars: | 2024-09-12 | by ( Bryan Mena | ) edition.cnn.com   time to read: +3 min
Washington CNN —Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market. The standard, 30-year fixed-rate mortgage averaged 6.20% in the week ended September 12, mortgage financing giant Freddie Mac said Thursday. Mortgage rates started to drop early last month on news affirming lower interest rates in the future, specifically after a weaker-than-expected jobs report for July, and have gradually edged lower since. “Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023,” Sam Khater, Freddie Mac’s chief economist, said in a release. The Fed doesn’t directly set mortgage rates, but its action do influence them through movements in bond yields.
Persons: Freddie Mac, ” Sam Khater, Freddie Mac’s, that’s, Lawrence Yun Organizations: Washington CNN —, , Federal Reserve, Treasury, Las, P Global, Apple, Fed, National Association of Realtors Locations: New York City, San Diego, Las Vegas, America, Los Angeles, Miami
Read previewA US Navy aircraft carrier left the Middle East this week, ending a show of force that saw the sea service dual-wield two carrier strike groups. The move concludes a brief period of several weeks during which the Navy had two aircraft carriers operating simultaneously in the Middle East, a rare show of force for the US military. AdvertisementThe other carrier, USS Abraham Lincoln, is still operating in the Middle East with multiple destroyers in its strike group. The Lincoln carrier strike group was sent to the region as part of this effort. The US also ordered the guided-missile submarine USS Georgia to the Middle East as part of the build-up.
Persons: , Theodore Roosevelt, Daniel Inouye, USS Russell, Abraham Lincoln, Theodore Roosevelt's, Dwight D Organizations: Service, US Navy, Business, USS, Navy, Lincoln, Pentagon, Associated Press, Eisenhower Carrier Strike, US Locations: Israel, Iran, San Diego, Gulf, Aden, Georgia, Ohio
Pac-12 plans rebuild, adding four Mountain West schools
  + stars: | 2024-09-12 | by ( Jill Martin | ) edition.cnn.com   time to read: +2 min
The conference announced Thursday that four schools from the Mountain West Conference – Boise State, Colorado State, Fresno State and San Diego State – will be admitted to the Pac-12, effective from July 1, 2026. I am thankful to our board for their efforts to welcome Boise State University, Colorado State University, California State University, Fresno, and San Diego State University to the conference. An exciting new era for the Pac-12 Conference begins today.”Ahead of Thursday’s Pac-12 announcement, Mountain West commissioner Gloria Nevarez had released a statement about the then-pending news. The requirements of the scheduling agreement will apply to the Pac-12 should they admit Mountain West members. The Mountain West has a proud 25-year history and will continue to thrive in the years ahead.”When reached by CNN on Thursday following the Pac-12’s announcement, the Mountain West did not have an updated statement.
Persons: San Diego State –, , Teresa Gould, , Gloria Nevarez, ” Nevarez Organizations: CNN, Mountain West Conference, Fresno State, San Diego, Oregon State, Washington, Football, NCAA Division, FBS, Stanford, Cal, Atlantic Coast Conference, ACC, USC, UCLA, Big Ten Conference ., Boise State University , Colorado State University , California State University, San Diego State University, West, Conference Locations: Boise State, Colorado State, Fresno, San Diego State, Washington State, Washington , Oregon, Big Ten Conference . Arizona, Arizona State , Colorado, Utah, West
San Salvador, El Salvador CNN —For decades, life choices were bleak for many in El Salvador: Leave or die. El Salvador, once synonymous with violence and waves of emigration, saw a dramatic drop in crime. We are not stupid.”Villatoro’s words echo the brutal reality El Salvador has faced for years. Unlike in places like Cuba or China, where residents can seem nervous to criticize repressive regimes, in El Salvador the optimism appears real. Evelio Contreras/CNNTeresa Lilian Gutierrez is caught in the middle, and her experience shows the many complexities of life in El Salvador today.
Persons: Nayib Bukele, Victor Bolaños, Blanca, , ” Victor, ” Blanca, Evelio Contreras, Bukele, Victor, Diego Morales, , El, ” Diego, Salvadorans, Diego, Jairo, “ We’ve, … it’s, ” Jairo, , El Salvador, , Cecot, Gustavo Villatoro, they’ll, Bukele’s, Donald Trump, ” Trump, ” Villatoro, Juan Carlos Cornejo, Juan Carlos, Socorro Jurídico, Juan Carlos ’, Critics, CNN Teresa Lilian Gutierrez, San Salvador . “, “ He’s, , they’re, René Merino, Merino, Blanca Bolaños Organizations: San Salvador , El, San Salvador , El Salvador CNN —, New, New York City, CNN, El, Central, Rights Watch, Northern, Customs, Border Protection, World Bank, Houston, La Libertad, Barrio, El Salvador Presidency Central, , Republican National Convention, Salvadoran, Officials Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, New York, Denver, San Salvador, Central American, Central America, Honduras, Guatemala, El, Houston, Florida, Austin, Hawaii, Tamanique, Salvadoran, United States of America, Santa Ana, , Socorro, Cuba, China, La Campanera, San Salvador ., Mariona, America, Bukele
Brazil and Argentina both lose World Cup qualifiers
  + stars: | 2024-09-11 | by ( George Ramsay | ) edition.cnn.com   time to read: +3 min
CNN —Brazil and Argentina both suffered defeats in their qualifying matches ahead of the 2026 World Cup on Tuesday. For the Seleção, the 1-0 defeat against Paraguay was particularly concerning as it marked the team’s fourth defeat in the past five qualifiers. The result leaves the five-time World Cup winner fifth in the standings with the top six sides automatically earning a spot in the 2026 tournament, which will be jointly hosted by the US, Canada and Mexico. It was otherwise a lackluster showing from Brazil, which enjoyed 71% of possession but produced only three shots on target. Argentina has six wins from its eight World Cup qualifying games and sits two points ahead of Colombia, still unbeaten with four wins and four draws, in the standings.
Persons: Diego Gómez, Gómez’s, Guilherme Arana’s, Júnior Alonso, Vinícius Jr, Gatito Fernández, Jorge Saenz, Dorival Júnior, , Marquinhos, ” Albiceleste, James Rodríguez, Mosquera’s, Rodríguez, Ricardo Mazalan, González, Nicolás, Lionel Messi, Lionel Scaloni Organizations: CNN —, US, Copa, Ecuador, TV Globo, Reuters, Colombia, Argentina, Copa América Locations: CNN — Brazil, Argentina, Paraguay, Canada, Mexico, Asunción, Brazil, Uruguay, Colombia Argentina, Barranquilla, Colombia
Read previewThe Army is on the lookout for new longer-range artillery shells after canceling some of its plans for new cannons. Army Secretary Christine Wormuth discussed plans at the 2024 Defense News Conference last week when she spoke on some of the potential follow-ups for longer-range artillery after the cancellation of its Extended Range Cannon Artillery program. "We still believe that we have a requirement for, you know, sort of an artillery system with that kind of range," Wormuth said. Advertisement"I think we may also be looking at sort of what we call, you know, 'innovating at the round,' looking at what can we do with the actual round to increase the range," Wormuth said recently. The Army is also still at work on ramjet-powered artillery shells, which have estimated ranges around 93 miles.
Persons: , Christine Wormuth, Wormuth, Doug Bush, weren't, Lance Cpl, Matthew Bragg ERCA, Mark Esper, Diego Herrera Carcedo Organizations: Service, Cannon Artillery, Business, Army, US Marine Corps, US Army, Anadolu Agency, Getty Locations: China, Russia, Ukraine
Bank of America sees yet another tailwind for utilities: The sector is a way to play falling interest rates. To that end, CNBC Pro used FactSet data to screen the S & P 1500 utilities sector, looking for companies that meet the following criteria. A total return – the stock price plus the value of reinvested dividends – of at least 10% in 2024. The stock offers a dividend yield of 3.0% and has a 2024 total return of nearly 23%. Year to date, the stock has a total return of nearly 38%, and it offers a dividend yield of 2.5%.
Persons: Savita Subramanian, Garrick Rochow, Morgan Stanley, David Arcaro, Diego's, , Fred Imbert Organizations: Constellation Energy, NRG Energy, Mizuho Securities, Bank of America, Utilities, Real, CNBC Pro, Street, CMS Energy, Consumers Energy, CMS, NextEra, Management, Google, CNBC, PPL Locations: Jackson, Michigan, , Florida, 1Q24, Allentown, Penn
Republican vice presidential nominee Sen. JD Vance of Ohio speaks to reporters in San Diego in front of the wall on the border with Mexico, Sept. 6, 2024. A Biden administration official on Tuesday said it was "dangerous" for Republican vice presidential nominee Sen. JD Vance of Ohio to promote a false conspiracy theory that Haitian immigrants were stealing and eating other people's pets. Vance in a social media post on X on Monday shared a video of him speaking during a Senate committee hearing about a surge in Haitian immigrants living in Springfield, Ohio. "Months ago, I raised the issue of Haitian illegal immigrants draining social services and generally causing chaos all over Springfield, Ohio," Vance wrote in that tweet. His tweet came a day before Republican presidential nominee former President Donald Trump was due to debate Harris in Philadelphia.
Persons: Sen, JD Vance, Biden, Vance, you've, that's, let's, John Kirby, Kirby, Kamala Harris, Harris, Donald Trump, Donald Trump Jr, Ted Cruz, Ted Cruz of Texas —, Springfield who've Organizations: Republican, Republican Party, Security, Democratic, . Springfield Police, Springfield Police, NBC News, Trump Locations: Ohio, San Diego, Mexico, Springfield , Ohio, United States, Philadelphia, Ted Cruz of Texas, Springfield, North Carolina, Pennsylvania
SAN DIEGO — Fighting tears, Alex Morgan waved to the crowd and walked off the field for the last time on Sunday as she capped an impactful 15-year career. The two-time Women’s World Cup winner announced on Thursday she was pregnant with her second child and retiring from the game. Overall, it was her 150th career appearance in National Women’s Soccer League play. Morgan’s U.S. national team career was full of accomplishments, including World Cup titles in 2015 and 2019, and an Olympic Gold medal in 2012. Morgan played in 224 matches for the U.S. national team, with 123 goals (fifth on the career list) and 53 assists (ninth).
Persons: Alex Morgan, subbing, ” Morgan, Morgan, Charlie, Joe Musgrove, , Jessica Berman, , Amber Brunner, equitably, Alex Organizations: DIEGO, San Diego Wave, North Carolina Courage, Women’s Soccer League, England, Portland Thorns, Wave, U.S ., U.S, Soccer, Community, San Diego Padres, San Francisco Giants, men’s Locations: France, Morgan’s, U.S
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CNN —US soccer star Alex Morgan waved an emotional goodbye to her professional career on Sunday, playing her final minutes in the San Diego Wave’s 4-1 loss to the North Carolina Courage. An emotional Morgan then took off her cleats in the middle of the pitch, before walking off the field in tears. Morgan signing autographs after her final career match. Meg Oliphant/Getty ImagesShe then emerged back onto the field after the final whistle to address the thousands of fans who had stayed on. Meg Oliphant/Getty ImagesMorgan announced her retirement last week with an emotional four-plus minute video on social media.
Persons: Alex Morgan, San Diego Wave’s, , Morgan, Meg Oliphant, , Charlie Organizations: CNN, San Diego, North Carolina Courage, Getty, United States Women’s National Locations: San, California
Since Harris replaced President Joe Biden as the Democratic nominee, Trump has constantly attempted to portray her as weak on immigration and crime. On Friday, Harris also chose not to mention mass deportation during a radio interview with Univision, when the host asked her to summarize her argument to undecided Hispanic voters. “There is a way in which those [crime and immigration] issues in particular are also about bigger things,” said Adrianne Shropshire, executive director of BlackPAC, a group working to mobilize Black voters for Harris and Democrats. And many of those voters might recoil from these Trump policies on crime and immigration if they heard more about them. “What he is hoping is that the Black voters who he is [courting] don’t see that stuff,” Shropshire said.
Persons: Kamala Harris, Donald Trump, Trump, Harris, Joe Biden, Gary Segura, UnidosUS, Segura, Ohio Sen, JD Vance, Stephen Miller, Miller, Michael Ettlinger, Goldman Sachs, Jeffrey Passel, Passel, Rudolph Giuliani, Michael Bloomberg, Black, Ed Chung, Vera Action, Tim Walz, Trump’s, she’s, surrogates, , Adrianne, , ” Segura, ” Tom Wong, Wong, ” Wong, Daniela Gilbert, That’s, Biden, Gilbert, ” Gilbert, ” Anthony Baber, Baber, “ Trump, ” Baber, ” Harris, She’s, Chung, , Dana Bash, , Daniel Cox, BlackPAC Organizations: CNN, Democratic, Unidos, , White, Trump, of Police, National Guard, University of New, Carsey, of Public, Boston Globe, Pew Research Center, New York Police Department, Minnesota Gov, Univision, Black, GOP, US Immigration, Center, University of California, America’s, Marquette Law School, Religion Research Institute, Detroit, Whites, Survey Center, American Enterprise Institute Locations: California, Wisconsin, Texas, New York City, Phoenix, Las Vegas, Philadelphia, Atlanta, Savannah, Adrianne Shropshire, San Diego, United States, CNN’s, Michigan, Pennsylvania, Shropshire, ” Shropshire
Italian phenom Jannik Sinner cast aside doping allegations and won his second Grand Slam title of the year, beating American Taylor Fritz 6-3, 6-4, 7-5 in the U.S. Open final Sunday in New York City. He won this year's Australian Open and reached the semifinals of the French Open and Wimbledon before he hoisted another trophy in Queens. Sinner's triumph denied Fritz, a San Diego-area native, his first major title and kept alive a two-decade-long streak of American men’s failing to win the biggest tennis tournament on U.S. soil. Fritz, 26, came close to Grand Slam titles with quarterfinal appearances at Wimbledon and the French Open this year and another round-of-eight visit to Wimbledon in 2022. Sunday's final culminated a U.S. Open rocked by the shocking second-round upset of Alcaraz and the surprising third-round loss by Djokovic, the defending champ.
Persons: Taylor Fritz, Sinner, Fritz, Sinner's, Andy Roddick, Spain’s Juan Carlos Ferrero, Switzerland’s Roger Federer, Spain’s Rafael Nadal, Serbia’s Novak Djokovic, Roddick, Argentina’s Juan Martin del Potro, Andy Murray, Croatia’s Marin Čilić, Stan Wawrinka, Austria’s Dominic Thiem, Russia’s Daniil Medvedev, Spain’s Carlos Alcaraz, Alcaraz, Djokovic Organizations: U.S, Tennis Integrity Agency, Wimbledon, Sunday's Locations: New York City, Queens, San Diego, U.S, Flushing
These regional powers are betting they can build an expendable air force without the massive costs of aircraft carriers, fighter jets and pilots trained to fly them. Naval experts agree that drone ships represent new possibilities while pointing out that these ships fall far short of the aircraft carriers and amphibious assault ships that top navies sail. Turkey developed the Bayraktar TB3 naval drone for the Anadolu and claims the unmanned Kizilelma fighter jet it is developing could also operate from it. Although far from the might and versatility of flattops, these vessels enhance Turkey and Iran's respective capabilities to project naval power. These drone-carriers also have inherent shortcomings when compared to aircraft carriers and amphibious assault ships in other navies.
Persons: , Bryan Clark, Recep Tayyip Erdogan's, Shahid, Shahid Bagheri, Shahid Mahdavi, Diego Garcia, IRGC, Emin Sansar, Shaul Chorev, Chorev, Clark, Andrew, Woody, Lewis, who's, Iran's Organizations: Service, Hudson Institute, Business, TCG Anadolu, Anadolu, Iran's Revolutionary Guard Corp, Getty, US Navy, Maritime Policy, Research, Israeli National Center of Blue, Israeli Navy, Iranian, IRIN, Islamic Republic of Iran Navy, Center for, US 2nd Fleet Locations: Turkey, Iran, Ankara, Turkish, Soviet, Diego, Anadolu, Iranian Navy, Islamic Republic of Iran, US
In 2022, we started building a pickleball court due to a combination of factors. But I knew we wanted to rent the court out somehow, so I decided to give the app a shot. I've now started coaching pickleball, tooThompson built his court with a lump sum he received for entering retirement. Since I started renting the court, I thought this could be a little business for me. I got my pickleball teacher certification and started giving lessons on the court.
Persons: , Michael Thomspon, We've, pickleball, let's, Thompson, Michael Thompson, we've, it's, Michael Thompson I'm, I've Organizations: Service, Business, pickleball Locations: San Diego, Coronado
Nationwide, active listings in August were up 36% compared with the same month last year, according to a new report from Realtor.com. The growth in supply is due to the fact that homes are sitting on the market longer. “The widely anticipated Fed rate cut has already ushered in lower mortgage rates, but it seems that some buyers and sellers are waiting for additional declines.”That can be seen in weekly mortgage data. Regionally, active listings rose 46% in the South, 35.7% in the West, 23.8% in the Midwest and 15.1% in the Northeast. Part of that is due to the mix of homes on the market, as more smaller homes are being listed.
Persons: , Danielle Hale, , Ralph McLaughlin Organizations: Nationwide, Mortgage, Association, Midwest, Realtor.com Locations: Tampa, San Diego, Miami, Seattle, Denver, West
Nationwide, active listings in August were up 36% compared with the same month last year, according to a new report from Realtor.com. "The widely anticipated Fed rate cut has already ushered in lower mortgage rates, but it seems that some buyers and sellers are waiting for additional declines." Regionally, active listings rose 46% in the South, 35.7% in the West, 23.8% in the Midwest and 15.1% in the Northeast. More supply and longer selling times are finally translating into lower prices. Part of that is due to the mix of homes on the market, as more smaller homes are being listed.
Persons: Patrick T, Fallon, PATRICK T, FALLON, Danielle Hale, Ralph McLaughlin Organizations: National Association of Realtors, Getty, Nationwide, Mortgage, Association, Midwest Locations: Los Angeles , California, United States, AFP, Tampa, San Diego, Miami, Seattle, Denver, West
The psychotherapist's 2020 book, "Polysecure," has become the poly bible for an increasingly queer and fluid generation. As consensual nonmonogamy went mainstream, searches for Fern's "Polysecure" spiked. "I've heard authors joke they get a cup of coffee from their book," Fern said. When Jessica Fern and Dave Cooley opened up their relationship, Cooley was surprised at the "searing anguish" he felt about his wife seeing other men. Fern, Cooley, and Fern's partner bought the property together and settled in, planning to live there long term.
Persons: Jessica Fern, Feeld, Lionel Messi, Fern, John, nonmonogamy, Molly Roden Winter's, Miranda July's, I've, Nielsen BookScan, you've, we're, Hannah, Dave Cooley, Cooley, Esther Perel, Dan Savage, Guralnik —, Ross Geller, it's, butch barista, deblasio, Chirlane McCray, Suki Waterhouse, Allison P, Davis, Clinton, isn't, Gilmore, Diego, — they're, Fern disentangled, polyamory, Julia, Apryl, Jessica, John Bowlby, Mary Ainsworth, Fern's polyamorous, she's, It's, Mike Belleme, Tobias, Lindsay, Molly Roden Winter, compersion, Fern's, , Abby, she'd, Axios they'd, Christopher Gleason, they'd, Gleason, We've, curt, Escher, Franklin Veaux, Eve Rickert's, Rickert, aren't, I'm, Daniel Lavery, " Lavery, polysecurity hasn't, She's, pats, hasn't, polysecurity, Fern isn't, We're, Myers, Briggs, there's Organizations: New York Times, New York Magazine, SUNY, Kinsey Institute, George Mason University Locations: Costa Rica, North Carolina, Russian, Manhattan, Asheville, patrick, Fort Greene, San Francisco, Cooley, Sheepshead Bay , Brooklyn, British, polyworld, Boulder , Colorado, Vancouver, Brooklyn, COVID, Bahamas, Feeld, Fern
New York CNN —Most of the 10,000 hotel workers who went on strike during the busy Labor Day weekend have returned to work Wednesday, but one group of 700 union members in San Diego will stay on strike for the foreseeable future. Those workers, employed at the Hilton San Diego Bayfront, will remain on strike until there is a contract agreement, their union, Unite Here, says. The union has not ruled out using the same rolling strikes strategy this time, or expanding the strike to other locations. The strategy is intended to help workers keep as many days of pay as possible during a contract negotiation. Beyond the hotel workers, limited duration strikes have been used to win labor deals for school employees in Los Angeles, health care workers at Kaiser Permanente, janitors, nursing home employees and other workers in Minnesota who went on strike together in March.
Persons: Hilton San Diego Bayfront, spokespeople, Hilton, , Gwen Mills, Taylor Swift Organizations: New, New York CNN, Labor, Hilton San Diego, Hilton San, Hyatt, “ Workers, Union, Kaiser Permanente Locations: New York, San Diego, Hilton San Diego, Marriott, Los Angeles, Orange counties , California, Southern California, Europe, Kaiser, Minnesota
Afternoon commuters sit in traffic on southbound Interstate 5 near downtown San Diego on March 12, 2024. Kevin Carter | Getty Images"Rush" hour isn't what it used to be. Ridership sank during the pandemic, Federal Reserve Bank of St. Louis data shows, and never fully recovered. The result is a surge in traffic congestion throughout the peak midday and evening hours, according to Pishue. "Pre-Covid, the morning rush hour would be a peak and then the evening peak would be much larger," he said, describing two apexes with a valley in between.
Persons: Kevin Carter, Bob Pishue, Louis, Gallup Organizations: INRIX Inc, Midday, Federal Reserve Bank of St Locations: San Diego
Ukraine's Commander-in-Chief Oleksandr Syrskyi stated last week that an objective of the Kursk invasion was to redirect Russian forces away from the Pokrovsk direction. But the Kursk invasion has limited the number of troops available for reinforcement. KIRILL CHUBOTIN/Ukrinform/Future Publishing via Getty ImagesGeorge Barros, the geospatial-intelligence team lead and a Russia analyst at ISW, said that the Kursk invasion underscores how Moscow left a major portion of its international border undefended. Even though the Kursk invasion may not be forcing Russia to redirect front-line forces from Pokrovsk, that campaign will eventually culminate. These efforts have intensified since the start of the Kursk invasion.
Persons: , Ukraine's, Oleksandr Syrskyi, Tatarigami, Diego Herrera Carcedo, Putin, Volodymyr Zelenskyy, KIRILL CHUBOTIN, George Barros, Vladimir Putin, Barros, REUTERS Barros Organizations: Service, Kyiv, Business, AP, Institute for, Getty, Ukraine, Publishing, REUTERS Locations: Russia, Moscow, Kursk, Ukraine, Kyiv, Russia's, Ukrainian, Sudzha, Russia's Kursk, Pokrovsk, Anadolu, Russian, Korenevo
When Taco Bell announced the event back in July, it invited hundreds of fast-food lovers to slow down and enjoy "early retirement" with all-you-can-eat Taco Bell meals and "senior-inspired recreation." Hanging among the racks were limited-edition Taco Bell merchandise, vintage T-shirts, basketball shorts, hot pants, and many, many hats. I opted for the Cantina chicken burrito and soft taco, my favorite new menu items at Taco Bell. Tim revealed he was an avid runner who had trekked two miles to grab a single taco from Taco Bell for 97 days in a row. Anneta Konstantinides/Business InsiderWhen I asked Rotter why Taco Bell was so important to him, he recalled a trip to the only Taco Bell in Hawaii that sells kalua pork, where the staff lit up over his Hawaiian Taco Bell shirt.
Persons: , Taco, Taco Bell, Uber, tacos, Kenny Rotter, Rotter, fanny, there's, Snoop, I've, Anneta, Taylor Montgomery, Taco Bell's, Montgomery, Dolly Parton, Bell, Gen Z, Tim, dink, influencer Joey Zauzig, Zauzig, Will, James, Caroline Organizations: Service, Taco Bell, Bell, Business, New York, Subway, Planters, KFC, Mac Locations: San Diego, La Valle, San Diego's, Santa Fe, Los Angeles, San, Woodstock, LA, Taco, Hawaii, America
Downtown Campo is an hour away from San Diego in California. Downtown Campo has 28 buildingsThe listing for downtown Campo includes three separate parcels totaling about 16 acres. HMBD Real Estate MarketingRay first purchased the property in 2000 when he lived in San Diego. HMBD Real Estate MarketingHernandez echoed that sentiment, saying locals mentioned renovating the local basketball court and a new playground. AdvertisementHernandez said he's had offers from a mix of interested parties, including traditional real estate investors and people pitching unique concepts.
Persons: , Deborah Jean Peck, I've, Peck, Campo, John Ray, Nick Hernandez, " Hernandez, Marketing Ray, He's, Ray, Hernandez, Marketing Hernandez, who's, he's, Tony Hawk Organizations: Service, Campo, Business, Downtown, Campo Baptist Church, Marketing, Cleveland National Forest, Campo Metal, Campo hasn't, downtown Locations: Campo, San Diego, Downtown Campo, California, HMBD, Las Vegas, Coast, Mexico, Canada, downtown Campo
Social Security won't save you
  + stars: | 2024-08-24 | by ( Juliana Kaplan | Noah Sheidlower | Allie Kelly | ) www.businessinsider.com   time to read: +11 min
Though many say they are thankful to have Social Security payments at all, they aren't enough to fill the gap. To help pay the bills, nearly 80% of retirees receive some Social Security income, per BI's calculations, and the Social Security Administration estimates that 97% of older adults will ultimately receive benefits. She told BI that her expected $2,000 monthly Social Security payments may not be enough. As pensions dissipate and only higher-earning retirees have savings, Social Security might only become more pivotal for retirees. Advertisement"I don't want to be rich, I just need to be comfortable," 62-year-old Angela Babin — who lives on her $1,100 monthly Social Security check — told BI.
Persons: , Emma Echols, she'll, Echols, she's, She's, Xers, Tracey Gronniger, Cheryl Simmons, Franklin D, Roosevelt, they've, Mary Dacus, Stephen, They've, Becky Davenport, Davenport, Donald Trump, Bernie Sanders, Elizabeth Warren, Gronniger, Angela Babin — Organizations: Service, Social Security, Business, Social, Security, Social Security Administration, SNAP, Pew Research Center, Republican, Republicans, allisonkelly Locations: Alabama, San Diego, Spain, Greece, Robinson , Illinois, Florida, Anchorage
The phrase "financially comfortable" doesn't have a strict definition. In San Francisco, the net worth you'd need to feel "comfortable" is $1.5 million, according to a survey sample of 750 residents in that city — the highest amount cited among 12 major U.S. cities surveyed. Much of the difference in net worth thresholds between cities is due to shelter costs, especially in cities with severe housing shortages, like San Francisco, Los Angeles and New York City. While feeling "financially comfortable" is a subjective term, the survey makes a distinction between that and feeling "wealthy." For cities, it ranges from $4.4 million in San Francisco to $2.2 million in Dallas.
Persons: Charles Schwab's, that's Organizations: Wealth Survey, Boston, Denver, Seattle, Atlanta, Dallas, Houston, Phoenix, CNBC Locations: San Francisco, U.S, Franciscans, Francisco, California, Los Angeles, San Diego, York City, Washington, Chicago, San Francisco , Los Angeles and New York City, Dallas
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