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☆ Fava beans could boost mood and ease depression, according to a scientist. She shared her 3 favorite ways to eat them.
▼ + stars: | 2024-08-14 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +4 min

Fava beans, also called broad beans, contain levodopa or l-dopa, a chemical that can be converted into the pleasure hormone dopamine. One in five Americans experienced a mental health condition in 2020, according to the Substance Abuse and Mental Health Administration, and mental health costs the US economy more than $280 billion annually, according to researchers at Columbia Business School and Yale. "For me it's a matter of getting the awareness out that there is something that could improve mental health," she said. AdvertisementHere are her three favorite ways to prepare fava beans. Fava bean stir fryEvery week Mohd-Radzman makes a stir-fry with lots of fava beans.

Persons: —, Nadia Mohd, Radzman, Ian Laker, pita, she's, snacking Organizations: Service, University of Cambridge, Business, Neuroscience, Molecular Psychiatry, Mental Health Administration, Columbia Business School, Yale Locations: Mohd

☆ Chinese scientists say they've found a way to make hypersonic missiles skip in the sky to strike deeper. US experts aren't convinced it'll be effective.
▼ + stars: | 2024-08-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

Read previewA team of scientists in China believe they've found a way to make hypersonic missiles more potent — by extending their range via "skipping" on the atmosphere. Skip-gliding missiles may also be harder to track and intercept, she added. Kavanagh noted that a future skip-gliding missile would likely still be detectable from hundreds of miles away. AdvertisementKearn believes the issue is being overblown since China has the ability to launch nuclear strikes regardless of its hypersonic missiles. AdvertisementTheir next step, they said, would be to research how easily a skip-gliding missile can maneuver and navigate laterally.

Persons: —, they've, Yong Enmi, Washington, Jennifer Kavanagh, Kavanagh, David Kearn, Biden, Kearn Organizations: Service, China Aerodynamics Research, Development Center, Business, Astronautics, China Morning Post, US, Defense, People's, Army, PLA, Government, St, John's University Locations: China, Hong Kong, Nazi Germany, Beijing, Washington, Hawaii, United States

☆ Move over dealmakers: Portfolio-company operators are the rising stars of private equity
▼ + stars: | 2024-08-14 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +11 min

Read previewDealmakers have always been the stars of private equity. AdvertisementKevin Desai, partner and private equity sector leader at PwC PWCBut in the current climate, portfolio-operations professionals are gaining esteem. AdvertisementPrivate equity 3.0Rising interest rates nearly two and a half years ago ushered in a new economic reality that hit private equity firms right in the pocket. Since private equity relies on debt to boost returns, the first option is off the table. These people are taking their talents to private equity firms to manage smaller companies using an already proven playbook for technological transformation.

Persons: —, you've, Marc Rowan, Rowan, Kevin Desai, Desai, I've, What's, they're, quants, we've Organizations: Service, Business, PricewaterhouseCoopers, University of Chicago, Walmart, Nike, Harvard Business Locations: dealmaking

☆ CNBC Daily Open: Wall Street surges; Starbucks ousts CEO
▼ + stars: | 2024-08-14 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Economic uncertainty Home Depot exceeded quarterly expectations but lowered its full-year sales outlook , citing weak demand due to high interest rates and consumer uncertainty. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. The baristas have to be energised, clearly they've had some union problems, clearly they've had a lot of new products that haven't worked," Palmer told CNBC "Squawk on the Street." Chief Financial Officer Richard McPhail told CNBC, "Customers aren't just deferring because of higher financing costs.

Persons: Richard McPhail, Laxman Narasimhan, Brian Niccol, Narasimhan, Mellody Hobson, Narasimhan —, Niccol, David Palmer, they've, haven't, Palmer, Sarat Sethi, CNBC's, Sethi, —, Sarah Min, Amelia Lucas, Brian Evans, Samantha Subin, Jennifer Elias, Jeff Cox, Spencer Kimball Organizations: New York Stock Exchange, CNBC, Jefferies, Google, Apple, Gemini, Evercore ISI, Depot, Douglas, Lane & Associates, McDonald's, Starbucks, Walmart Locations: New York City, China

As the economy continues to normalize and the Fed is able to lower the federal funds rate, mortgage rates should drop further. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase (+0.26%)The current average 30-year fixed mortgage rate is 6.17%, up 26 basis points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Go Up (+0.26%)The average 15-year mortgage rate is 5.45%, 26 basis points higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Jump Up (+1.07%)The average 30-year refinance rate is 7.04%, 107 basis points up from last week.

Persons: Zillow, Price, you'll, It's, refinance, they've Organizations: Federal Reserve, Zillow, FHA Locations: U.S, Chevron

☆ Home Depot expects sales to weaken as consumers grow more cautious
▼ + stars: | 2024-08-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. It had previously expected comparable sales, a metric that takes out the impact of store openings and closures and other one-time factors, to decline about 1%. Total sales are expected to increase between 2.5% and 3.5% including a 53rd week in the fiscal year and approximately $6.4 billion in sales from SRS. In an interview with CNBC, Chief Financial Officer Richard McPhail said Home Depot has contended with consumers who have a "deferral mindset" since the middle of 2023. It marked the seventh consecutive quarter of negative comparable sales at Home Depot.

Persons: Richard McPhail, They've, McPhail, Jerome Powell, –, Robert Hum Organizations: CNBC, LSEG, Depot, Target, Home Depot, Consumers, Federal Reserve Locations: Florida Keys, United States, U.S

☆ Mark Cuban says Silicon Valley tech bros have lost their grip on reality and now want to be the board of directors to Trump's CEO
▼ + stars: | 2024-08-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Now, Trump enjoys the support from Silicon Valley bigwigs like Tesla CEO Elon Musk and venture capitalists Marc Andreessen and Ben Horowitz. They want to vote for normal people they can relate to," Cuban wrote in an X post on August 6. Representatives for Cuban and the Trump campaign didn't immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, Mark Cuban, Donald Trump, It's, Jon Stewart, Trump, Cuban, Stewart, they've, Peter Thiel, Elon Musk, Marc Andreessen, Ben Horowitz, Vance, Musk, Sen, JD Vance, Ohio, Joe Biden, Kamala Harris, Biden, Harris, Tim Walz, Walz, Walz didn't, didn't Organizations: Service, titans, Business, PayPal, Tesla, Trump, Democratic Party, Republican Party, Democratic, Ivy League, University of Pennsylvania's Wharton School, Yale Law School, Cuban, Business Insider Locations: Silicon, United States, America, Silicon Valley, San Francisco Bay, Minnesota

☆ Mystery of midnight honking by Waymo robotaxis solved
▼ + stars: | 2024-08-13 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +1 min

Residents near a San Francisco parking lot faced mysterious nightly noises from Waymo robotaxis. A spokesperson told BI the cars have received a software update, so the city should be quieter now. AdvertisementResidents near a parking lot in San Francisco's South of Market neighborhood reported being woken up at unreasonable hours by a mysterious symphony of honking Waymo robotaxis as the driverless cars parked in the lot for the night. "We recently introduced a useful feature to help avoid low speed collisions by honking if other cars get too close while reversing toward us," a Waymo spokesperson told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: —, robotaxis, they've Organizations: Service, Business Locations: San Francisco, Francisco's, Market

☆ I gave up my dream of being a doctor at a local hospital just one year out of medical school. That decision cost me close to half a million dollars, but it was worth it.
▼ + stars: | 2024-08-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Medical school was fun but gruelingChoo (right) graduated from medical school in 2021. Faith ChooThe first two years of medical school felt like high school all over again. AdvertisementBack then, our seniors in medical school would warn us about life after graduation. They would tell us about the terrible working hours that came with being on call, like having to work for two days straight without rest. AdvertisementThe thought of leaving first crossed my mind after I clocked 19 consecutive days of work in the hospital.

Persons: —, Faith Choo, they've, Choo, they're Organizations: Service, Business Locations: Singapore

☆ AI and security concerns fuel a shift to on-premises IT infrastructure as companies seek more control of data
▼ + stars: | 2024-08-13 | by ( Matthew S. Smith | ) www.businessinsider.com time to read: +9 min

Organizations are shifting to hybrid cloud and on-prem IT infrastructure for more control over data. Rather than depending solely on third-party cloud services, they're looking to operate their IT data networks on-site. Hewlett Packard EnterpriseA push for on-premThis trend is a response to concerns about the reliability, security, and cost-effectiveness of cloud services. Kindo provides a secure management platform for AI systems that lets organizations control which users have access to internal AI resources. The winners will be those that can bridge cloud and on-prem to provide the level of control organizations are demanding.

Persons: —, prem doesn't, Tan, prem, There's, it's, Peter Wang, Anaconda, Wang, Dennis Duckworth, Duckworth, Chris Stegh, Stegh, They've, they've Organizations: prem, Service, Hewlett Packard Enterprise, Anaconda, Anaconda Anaconda, Amazon Web Services, eGroup Enabling Technologies Locations: Germany, Switzerland, Portland , Oregon, San Francisco

☆ Secret to Startup Success: Being an Obnoxious Risk-Taker
▼ + stars: | 2024-08-13 | by ( Nate Silver | ) www.businessinsider.com time to read: +11 min

Of the billionaires on the 2023 Forbes 400 list — the 400 richest people in the United States — 70% are basically self-made. In 1982, only 40% of the Forbes 400 had started their own business; the majority were simply scions of inherited wealth. The Forbes 400, however, is the extreme right tail of the curve. But you're not sniffing the Forbes 400 list, where the bidding starts at about $3 billion. I don't think VCs are deliberately picking founders they think are unreliable, although sometimes it seems like it.

Persons: Raj Chetty, That's, Chamath Palihapitiya, Palihapitiya, Josh Wolfe, Wolfe, Elon Musk, Thiel, Jeff Bezos, we're, Sam Bankman, Andreessen Horowitz, A16z, Adam Neumann, Neumann, WeWork, Marc Andreessen, Ben Horowitz, Horowitz, they've, Benchmark's Gurley, Gurley, Nate Silver Organizations: Forbes, United States —, Social Capital, Burger, Lux, VCs, New York Times, Penguin Press, Penguin Publishing, Penguin Random Locations: United States, America, Sri Lanka, Canada, Coney, Israeli, Silicon, Canyon Point , Utah

☆ Ukraine's Kursk incursion shows it's learned not to tease its big offensives before going in for the kill
▼ + stars: | 2024-08-13 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

The New York Times' report on the prelude to the bold, cross-border attack gives a glimpse at Ukraine's emphasis on secrecy this time. AdvertisementMost notably, Ukraine's leaders largely kept mum about the offensive even days after reports emerged that Kyiv's troops were pushing miles deep into Kursk. The Times' latest report described how Ukraine's researchers had started studying past campaigns after the failures of 2023. AdvertisementIn Kursk, Russian forces look like they've been caught off guard. Ukraine is reported to have broken through defensive lines along several positions, saying on Monday that it's seized 28 villages.

Persons: —, it's, Artem, Volodymyr Zelenskyy, Zelenskyy Organizations: Service, Ukraine, Kremlin, Business, New York Times, The Times, Times Locations: Kursk, Ukrainian, Ukraine, Russia, Kyiv, Crimea

☆ Ukraine is extending its record of flipping the script on Russia through innovation and audacity
▼ + stars: | 2024-08-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Read previewFor months, Ukraine had been on the back foot in its war against Russia, with the Kremlin's forces slowly winning control of new territory. But last week, Ukraine turned the dynamic of the war on its head, launching an audacious incursion into Russia's Kursk province. However, the training provided by Ukraine's Western allies gave Ukraine the capacity to surprise and outmaneuver Russia. It's unclear exactly how Ukraine managed to take Russia by surprise with its Kursk attack. Military experts said that Ukraine had also exploited the sluggishness and rigidity of Russian military commanders, who scrambled to devise an effective response to the attack.

Persons: —, Vladimir Putin, It's, Russia's, Jacob Parakilas, they've, it's Organizations: Service, Russia, Kremlin, Business, Black, Rand Corp, Soviet, Economist, Forbes, New York Times, Military Locations: Ukraine, Russia's Kursk, Russia, Russian, Ukrainian, Soviet, Donbas, Crimea, Kyiv, Kursk

☆ Researchers want to combine an ancient technology with clean energy to save over $1 trillion worldwide
▼ + stars: | 2024-08-13 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +6 min

And switching these major manufacturers to cleaner sources of energy, like wind and solar, would help significantly. Batteries are one option, but some scientists think an ancient technology, firebricks, is a cheaper and easier solution. Advertisement"It's a way to heat firebricks to a blazingly hot temperature," he said. Rondo said its system reduces CO2 emissions and lowers the cost of energy because it requires less electricity than hydrogen fuel. AdvertisementForsberg said one of the biggest benefits of the newer firebrick technology is that it updates processes many industries have in place.

Persons: They're, they've, Charles Forsberg, Forsberg, there's, Mark Jacobson, Jacobson, Joey Kabel, Dan Stack, It's, Rondo Organizations: Service, Business, Solutions, Boston Globe, MIT, Stanford University Locations: Kentucky, California

☆ Warren Buffett's company is so big it's like a mini US economy. Here's what it signals about the state of consumers.
▼ + stars: | 2024-08-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Read previewThe latest figures from Warren Buffett's Berkshire Hathaway suggest consumers are faring better than they were just a year or two ago. Thomson ReutersHomeServicesReal estate brokerage revenues were almost flat and after-tax earnings rose 21%. New home unit sales rose 11% after dropping 20%, but pre-tax earnings fell 10%, similar to their 12% decline last year. But pre-tax earnings jumped 10% due to higher margins and lower operating expenses that offset the lower sales. AdvertisementRetailThe odd one out was the retailing subdivision, where revenues fell 4.5% and pre-tax earnings fell 23%.

Persons: —, Warren Buffett's Berkshire Hathaway, Here's, Thomson, Warren Buffett, Clayton, Rick Wilking, Berkshire, They've, There's Organizations: Service, Business, Thomson Reuters, Clayton Homes, Reuters McLane, Berkhire Hathaway Locations: Warren Buffett's, Berkshire, Renton , Washington, Omaha , Nebraska

☆ Dan Stevens on His Best Movie, TV Roles: 'Downton Abbey,' 'Legion'
▼ + stars: | 2024-08-12 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +9 min

Advertisement"I think career is defined as much by what you say no to as what you say yes to," Stevens tells Business Insider. He famously devastated "Downton Abbey" fans by requesting to leave the beloved period drama, which necessitated killing off his fan-favorite character Matthew Crawley. "There was a real openness to see actors try things that they've not necessarily been seen in before over here, and that was very, very appealing to me," Stevens says. AdvertisementOn the excitement and terror of leaving 'Downton Abbey'Dan Stevens was one-half of the most popular couple on "Downton Abbey." AdvertisementAnd one that I particularly enjoy is when people say how much they enjoyed "High Maintenance," which was a show that I really really loved being a part of.

Persons: Dan Stevens, It's, King, Abigail, Stevens, Charles Dickens, Matthew Crawley, Herr König, terrorizes, Hunter Schafer, he's, Cousin Matthew, Felix Dickinson, it's, Downton, Al Pacino, ITV It's, I've, you've, —, Emma Watson, Emma, Harry Potter, that'll, You've, haven't, Robert Eggers, Lisa Frankenstein, Zelda Williams, We've, they've Organizations: Business, ITV, Marvel, HBO Locations: Queens, Downton, Russian

☆ Fund manager — who's consistently beaten the S&P 500 — names a key stock to own if recession hits
▼ + stars: | 2024-08-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As fears of a recession grip stock markets and consumers get squeezed, outperforming fund manager Sean Peche is betting on an unexpected retail player: the French multinational Carrefour . Peche, a portfolio manager at Ranmore Fund Management, highlighted the company's defensive nature and ability to grow earnings amid inflation as a key attractive quality. Peche noted that Carrefour has significantly increased its revenue over the past few years while maintaining stable inventory levels. The retailer's total revenue increased from 74.2 billion euros ($80.96 billion) in 2018 to 84.9 billion euros in 2023, according to FactSet data, a rise of 14.4%. The fund manager also highlighted Carrefour's growth in own-label products, which now account for nearly 40% of revenues.

Persons: Sean Peche, Peche, You've, CNBC's, There's, Cedric Lecasble, Stifel, Lecasble, Mahamkali Organizations: Carrefour, Peche, Ranmore Fund Management, Ranmore Global Equity Fund, Tesco, FactSet, UBS Locations: French, U.S, Germany, Switzerland, Carrefour, France, Brazil, Europe

Mortgage rates are down today compared to where they've been in recent weeks, with 30-year mortgage rates hovering in the low 6% range, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.63%, a 36-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates have been elevated for most of 2024, but they've been trending down in recent months. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: they've, you'll, Freddie Mac, it's Organizations: July's, CPI, Federal Reserve, Zillow Locations: Chevron

☆ We bring our dog along on our work trips. We've had to nearly double our travel budget to do it.
▼ + stars: | 2024-08-12 | by ( Erin Liam | ) www.businessinsider.com time to read: +7 min

But leaving their dog, Koda, behind started to get too difficult for them. Last April, they took Koda on her first road trip from Connecticut to Florida. Paul Salley and Brianna FeehanFrom finding dog-friendly accommodations and eateries to ensuring that Koda is comfortable on the road, Salley and Feehan now center their trips around her. For their first road trip to Florida, Apple Maps estimated their journey would take 18 hours. AdvertisementFor longer trips with Koda, they set a maximum budget of $6,000 for seven weeks.

Persons: —, Paul Salley, Brianna Feehan, Koda, we're, Feehan, Koda Feehan, Salley, there's, Gladys Tsoi, Koda Koda, they've Organizations: Service, Business, Apple, Forbes, American Airlines Locations: Connecticut, Florida, Salley, Airbnb, Wyoming, Los Angeles, Alabama, New York, Wyoming . Alabama, New York City, LA, Hong Kong, Japan

☆ Levels to watch on the yen, bond yields and Nvidia to know when this volatile market spell is over
▼ + stars: | 2024-08-12 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

S & P down 5.50% here, headlines of a Nikkei crash, and another great Yen carry unwind happening. I traded for a hedge fund and served as senior technical analyst for an foreign exchange company during the great financial crisis of 2008 that saw a severe yen carry unwind. If the line is headed south the dollar is weakening relative to the yen, and the yen is strengthening relative to the dollar. I believe that the July 11th CPI print that came 0.1% below expectations was the culprit to this whole yen carry unwind. Could this yen carry unwind move further?

Persons: it's, Todd Gordon Organizations: Nikkei, Markets, Inside Edge, CNBC, NBC UNIVERSAL

☆ Here is what Ukraine probably wants from its wild assault on Russian territory
▼ + stars: | 2024-08-12 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +8 min

Read previewUkraine has surprised the world with its attack on Kursk, a rare ground invasion of Russian soil. As of Monday, the Kremlin announced that Ukrainian troops had advanced almost 19 miles into the western Russian region. In a public meeting that afternoon, Russian President Vladimir Putin instructed his military to purge Ukrainian troops from Kursk. Matthew Savill, director of military sciences at the London-based Royal United Services Institute, assessed on Monday that some Russian troops had been moved from within Ukraine, but the scale is unclear. He said this would likely only be incidental to Ukraine's main strategic goal in the Kursk attack.

Persons: —, Patrick Bury, Vladimir Putin, We're, Matthew Ford, Ford, Matthew Savill, Savill, Russia's, West, Ukraine —, Bury, we've, they've, Putin, Vladimir, Peter Dickinson Organizations: Service, UK's University of Bath, Kremlin, Business, Agence France, Presse, BI, UK's University of Sussex, Royal United Services Institute, West Ford, Ukraine, Pentagon, Trump, Atlantic, Moscow Times Locations: Ukraine, Kursk, Russian, Russia, Kyiv, London, Kharkiv

☆ Flying Is Awful, but New Ways to Fix Air Travel Are on the Way
▼ + stars: | 2024-08-12 | by ( Emily Stewart | ) www.businessinsider.com time to read: +13 min

The message to the airline industry: You've had a few too many screwups to be left to your own devices. Over the past couple of years, the Biden administration has introduced a slew of rules and services intended to make airline passengers' lives easier. The airline industry seems to be relatively on board with the refund idea. But there are plenty of other problems with the airline industry that need solving — some the government can take care of, and some the government is causing. Gallup polls suggest more Americans have a negative view of the airline industry than a positive one.

Persons: You've, Bob Mann, William McGee, Joe Biden's, Pete Buttigieg, Biden, pocketbooks, They've, Janet Bednarek, Buttigieg, —, it's, It's, Bednarek, McGee, Mann, George Ferguson, wasn't, Emily Stewart Organizations: Boeing, Delta, Department of Transportation, Airlines, American Economic Liberties, Southwest, University of Dayton, Federal Aviation Administration, Airlines for America, Biden, Bloomberg Intelligence, FAA, Gallup, Business

☆ Two lonely 25-year-olds met on Bumble BFF. Seven weeks later they're living together as 'platonic soulmates' who share a bed.
▼ + stars: | 2024-08-12 | by ( Serafina Kenny | ) www.businessinsider.com time to read: +6 min

Read previewImogen Clarke and Estella Kyriacou share a bed, cook together every night, and can't spend five minutes apart, even after an argument. You'd be forgiven for thinking they've been in a relationship for years, but really, they're best friends who met five months ago. The 25-year-olds matched on Bumble BFF, a version of the dating app designed for people who want to find mates instead of dates. Until she met Kyriacou, Clarke said she had accepted that maybe she'd always feel a bit lonely in London. Clarke and Kyriacou met on Bumble BFF.

Persons: —, Imogen Clarke, Estella Kyriacou, You'd, they've, they're, Bumble, Clarke, Kyriacou, Clarke weren't, Vivek Murthy, Bumble BFF, " Clarke, Estella, we'd, it's, we've, Clarke's Organizations: Service, Business Locations: London, Toronto, Estella, Clarke's

☆ A millennial couple who make $250,000 say they can't find a home in their budget: 'We refuse to become house-poor'
▼ + stars: | 2024-08-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

They want to keep their monthly mortgage payment between $3,000 and $3,500 — or around 30% of their monthly take-home income of about $11,000. However, rising home prices and mortgage rates in recent years have made this goal difficult to accomplish. "We refuse to become 'house-poor' and, like many others, are choosing to sit it out until the housing market is reasonable again," Laura said. With an 11% downpayment, they estimated their monthly mortgage payment would be about $5,000 — about 43% of the couple's take-home monthly pay. AdvertisementGoing forward, Laura said they plan to continue monitoring the housing market for a home they like that's in their budget.

Persons: —, Laura Graves, Samuel, they'd, Laura, they've, they're, it's, There's, Samuel aren't, We'll Organizations: Service, Business, Federal, Housing Locations: Portland, Wilsonville , Oregon, Wilsonville, Spokane , Washington

☆ A boomer lives on $1,601 monthly from Social Security and struggles to pay bills. She plans to wait a few more years until she touches her 401(k).
▼ + stars: | 2024-08-11 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

AdvertisementMaureen now lives on $1,601 monthly Social Security payments in northeast Pennsylvania, according to bank documents viewed by BI. For others, fixed Social Security incomes aren't enough to afford basic necessities. Over half of baby boomers have $250,000 or less in retirement assets, per a 2024 report from the Retirement Income Institute . AdvertisementHer husband's Social Security money primarily went to her daughters when they were young, she said, but she recently learned his employer is closing their pension system. With $1,601 monthly Social Security as her only source of reliable income, Maureen is on a tight budget.

Persons: —, Maureen, Patricia Polacco's, Maureen —, hasn't, she's, doesn't Organizations: Service, Business, Catholic, Social, BI, Northwestern Mutual, Income, Social Security, SNAP Locations: Pennsylvania

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