Retirement Savings & 401(k) - Vanguard's research indicates that nearly 5% of 401(k) participants made early withdrawals in 2024 [1] - Early 401(k) withdrawals typically incur a 10% penalty in addition to income taxes [1] - The top two reasons for early withdrawals are to avoid eviction and to pay for medical expenses [1] - Vanguard's data shows that 8 out of 10 workers are saving for retirement, with a savings rate of 12% [1] - One in three workers tend to cash out their entire 401(k) balance when they change jobs, especially those with fluctuating incomes like gig economy and hourly workers [1] - Having an emergency savings of around $2,000 can significantly reduce the likelihood of cashing out 401(k) accounts [1] - Fidelity suggests that by age 67, individuals should have at least 10 times their annual income saved for retirement [47] Housing Market - Canceled home sales are up about 1 percentage point year-over-year, reaching approximately 15% [2] - Canceled sales have increased from about 11% during the peak of the market in 2021 to 15% currently [2] - Sellers with low interest rates (e g, 3%) and high equity may choose to delist their homes if they cannot achieve their desired price [2] Personal Savings Trends - A Nerd Wallet survey reveals that nearly half of Americans have set at least one savings goal for the year [5] - "No Buy 2025" involves eliminating non-essential spending for a set period [6] - "Revenge Saving" is a trend where individuals aggressively save to compensate for past overspending [7] - "Cash Stuffing" is a budgeting method where cash is allocated to different spending categories [7][8] - Many Americans are dissatisfied with their savings from 2024 and are seeking ways to regain control of their finances [11] Medicare & Healthcare Costs - Medicare Part B premiums are projected to increase by more than 11% in 2026, marking the sharpest single-year increase in nearly a decade [17] - The Medicare trustees report predicts that Medicare Part A will be bankrupt in 2033, or potentially as early as 2029 in a worst-case scenario [20] - Experts suggest planning for at least a 10% annual increase in Medicare Part B premiums for the foreseeable future [33] - Medicare Part D prescription drug prices are expected to skyrocket in 2026 [35]