MoneyWatch

Many Americans aspire to join the ranks of the wealthy, but the income threshold for being considered rich depends a lot on where you live. It also takes considerably more income to join the top 5% of earners than just a few years ago, according to new research from GoBankingRates.com, which examined state income data for the five-year period from …

American workers by and large believe they’ll retire at 65, the nation’s traditional retirement age. But real life often gets in the way of those plans, with new research finding that the majority actually step back from work far earlier. And for many, it’s not by choice. The median retirement age for Americans is actually 62, meaning that the typical …

A cosmetic process known as a “vampire facial” is considered to be a more affordable and less invasive option than getting a facelift, but the process can be a serious health hazard if done in unsanitary conditions, according to a new report. That proved to be the case for three women who likely contracted HIV from receiving vampire facials at …

While gold investing has been enticing for decades, the glimmer of gold has been shining brighter recently, especially over the last few months. That’s due, in part, to the precious metal seeing its value surge to new record highs, climbing from about $1,990 per ounce in mid-February to a then-record high of $2,160 per ounce in late March. This meteoric …

With inflation soaring and the cost of borrowing hitting multi-decade highs, homeowners are fortunate to have access to a more affordable source of financing: their home equity. While interest rates on credit cards, personal loans and even traditional mortgage refinances have crept well into the double digits, home equity loans and home equity lines of credit (HELOCs) remain comparatively cheap, …

The current high interest rate environment is putting a strain on many Americans’ finances. After years of keeping rates near zero to stimulate the economy during the pandemic, the Federal Reserve aggressively increased rates starting in early 2022to cool stubbornly high inflation. While the Fed has kept rate hikes paused for the last several meetings, the federal funds rate currently …

The ideal American small town to retire in is probably unknown to most people. But with a relatively low average monthly cost of living, low crime rate and other attributes that make it highly livable, Camp Hill in Pennsylvania’s Cumberland County, may be the best small town in the U.S. for retirees. That’s according to areportby GoBankingRates.com, which looked at …

Today’s interest rate environment can be a big challenge for borrowers. After all, the same mortgage loans that had sub-3% interest rates in 2021 and 2022 now have rates that are over two times higher. And, other types of lending products, like credit cards and personal loans, both carry higher rates than they did in recent years. Considering that all …

In today’s inflationary environment, it can be difficult to decide where you’ll store your savings. No matter where you choose to do so, it’s important that your money earns a return that’s equal to inflation or higher. Your savings will lose buying power if your returns are any lower than the current inflation rate (3.5%). Two options to consider that …

Inflation remains as stubborn as ever and continues to prop up interest rates. The Federal Reserve aggressively raised interest rates 11 times in 2022 and 2023 in an effort to curb inflation. More recently, the Fed has paused interest rate changes at its last five meetings as inflation has slowly ticked up in 2024. The resulting elevated interest rates have …