As the year comes to a close, mortgage rates remain high. Although the situation is improving, rates remain high enough to keep the housing market jittery. The Federal Open Market Committee (FOMC) of the U.S. Federal Reserve has cut interest rates three times this year, which should impact the housing market. However, mortgage rates don’t necessarily follow interest rates. As of Dec. 24, the average 30-year fixed-rate mortgage rate had dropped by three basis points to 6.2%, lower than a year earlier. How ...

Shutterstock / WS-Studio Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. During an episode of The Ramsey Show, a 73-year-old Arizona resident named Robin shared that she has no 401(k) and more than $12,000 in outstanding student loan debt — but is considering buying a home in the next three years. Host Dave Ramsey then asks, “How would you be able to buy [a house] if you don’t have any money?” Robin says she expects to pay off the student loan by March ...

Core Insights - The discussion highlights the disparity in rewards within capitalism, emphasizing that while some careers are highly rewarded, others, like teaching and nursing, are not [2][4] - Warren Buffett and Charlie Munger advocate for a fair tax system that supports those who are less advantaged in the capitalist framework [3][4] - Munger stresses the importance of practical steps towards achieving financial success rather than merely wishing for wealth [4] Group 1: Capitalism and Wealth Disparity - The capitalist system rewards certain skills significantly more than others, leading to economic disparity [2][4] - Munger and Buffett acknowledge the need for a taxation system that supports those who do not benefit as much from capitalism [3] Group 2: Financial Strategies for Achieving Wealth - A strong saving and investing strategy is essential for individuals to achieve millionaire status, regardless of their starting point [1] - Budgeting is crucial for understanding spending habits and enabling investment [7] - Automating investments into low-cost index funds is recommended as a strategy for consistent wealth accumulation [10][11] Group 3: Investment Opportunities - Investing in real estate can be made easier through platforms like Arrived, which allows for fractional ownership without the burdens of being a landlord [15][17] - Tools like Rocket Money can help individuals manage their finances more effectively by tracking expenses and negotiating bills [8][9]

shayjo21/TikTok Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. A mom on TikTok has gone viral for her stance on getting a second job to survive as inflation burns holes in Americans’ bank accounts. The TikTok creator by the name of @shayjo21, or simply Shay, posted a now-viral video with the caption: “$100,000 a year is the new $50,000 a year #fixitjesus.” In the clip — which was viewed more than 1.7 million times and amassed over 207,000 likes and 6 ...

Core Insights - The wealth gap between baby boomers and younger generations continues to widen, with boomers benefiting from rising homeownership and asset accumulation, particularly in stocks [2][5][8] - Younger Americans face significant financial challenges, including high student debt, rising living costs, and stagnant wage growth, which hinder their ability to save and invest [4][9][11] Group 1: Baby Boomers' Wealth Accumulation - Homeownership among older Americans increased significantly from 1983 to 2022, with boomers owning more homes and benefiting from rising property values [1] - By 2022, boomers' stock investments had surged, capturing decades of market gains that younger households missed [2] - Many boomers have paid off their homes and seen substantial growth in their retirement accounts, allowing them to draw on Social Security and Medicare benefits [5][6] Group 2: Challenges for Younger Generations - Young Americans are burdened with increasing student debt and high living costs, which consume their income before they can save [4][11] - Despite some improvements in net worth, the financial gap with boomers remains significant, with younger generations feeling the strain of high mortgage debt and rising expenses [3][8] - The median home price has escalated from approximately $195,000 in 1980 to $422,400 in 2025, making homeownership more challenging for younger buyers [12] Group 3: Financial Strategies for Younger Generations - Younger individuals are encouraged to automate savings and take advantage of employer 401(k) matching to build wealth over time [15][19] - Investing in low-cost index funds or ETFs is recommended as a long-term strategy to benefit from market growth [20] - Utilizing budgeting tools and financial advisors can help younger Americans manage their finances more effectively and work towards closing the wealth gap [13][24]

Assuming you are healthy and able to work, it’s important to delay claiming your Social Security benefits for as long as you can. Delaying Social Security until full retirement age, and possibly even to age 70, increases your guaranteed monthly check for life because you earn delayed retirement credits that add about 8% per year after full retirement age. For those born in 1960 or later, claiming at 70 pays roughly 124% of your full benefit (5).But how accurate is that number? Lump sums like this are usuall ...

If managing a budget feels overwhelming to you, apps like Rocket Money can simplify the process.You can also adjust your spending habits, like creating (and sticking to) a budget, shopping around to lower your car insurance rates, and reducing food costs through meal planning and coupons.To learn more about how Priority Gold can help you reduce inflation’s impact on your nest egg, download their free 2025 gold investor bundle .If you’d like to convert an existing IRA into a gold IRA, Priority Gold offers 10 ...

3. The Trial and Error Phase : This is when retirees explore new things and realize that not everything will be fun. For example, you may decide to sign up for a pickleball league only to realize you're not a fan of the sport. Don’t see it as a failure, but rather as an experiment.2. The Lost Phase : Many retirees start to miss the sense of purpose and structure their jobs gave them. Establishing a routine — whether through volunteering, hobbies or regular outings — can help. Even something as simple as bre ...

Group 1: Gold IRA and Investment Opportunities - Priority Gold offers a 100% free rollover for converting existing IRAs into gold IRAs, along with free shipping and storage for up to five years, and qualifying purchases can receive up to $10,000 in free silver [1] - A gold IRA is highlighted as a viable option for building retirement funds with an asset that hedges against inflation [2] - First National Realty Partners (FNRP) allows accredited investors to diversify their portfolios through grocery-anchored commercial properties with a minimum investment of $50,000, providing essential goods to communities [12][13] Group 2: Financial Planning and Budgeting - The five years leading up to retirement are considered critical for financial planning, emphasizing the importance of understanding current financial standings [6] - Developing a budget is essential for tracking retirement savings and ensuring financial readiness for retirement [8] - Apps like Rocket Money can assist in managing budgets by tracking expenses and negotiating lower rates on monthly bills, potentially saving hundreds annually [9] Group 3: Healthcare and Long-term Care Planning - Healthcare expenses are projected to be significant in retirement, with a 65-year-old estimated to spend around $172,500 on healthcare and medical expenses throughout retirement [17] - Long-term care insurance options are available to cover costs associated with in-home assistance, nursing homes, or assisted living facilities, which can deplete retirement funds if not planned for [19]

Core Insights - The overall consumer price index has increased by 25% since 2020, indicating a significant rise in living costs across various sectors [1] - Residential electricity prices have surged by 27.9% from 2021 to 2025, with average monthly bills rising by 28.8% [1] - Electric prices have increased by 10.5% since January 2025, reflecting ongoing utility cost pressures on households [2] Utility Costs - The average overdue utility balance in the U.S. rose from $597.21 in Q1 2022 to $774.52 in Q1 2025, further increasing to $788.83 in Q2 2025 [3] - A chart highlighted that average past-due utility balances have reached an all-time high, particularly during the Biden administration [4] Car Insurance - The average cost of car insurance has surged by 55% since 2020, with the current average being $2,149 per year or $179 per month [8] - Consumers are encouraged to compare quotes from multiple insurers to find better rates, with some as low as $29 per month [9] Home Insurance - Home insurance costs have also risen, presenting another area where consumers can potentially save by comparing rates from various insurers [10] Financial Management Tools - Apps like Rocket Money can help consumers track expenses, categorize spending, and identify hidden costs, potentially saving hundreds annually [12][13]