Federal reserve

The average American’s net worth is $620,654, but that number means little. Here’s the number that counts

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The average American’s net worth is 0,654, but that number means little. Here’s the number that counts

As of 2024, the average American had a net worth of $620,654, according to a recent UBS Global Wealth Report. (1) But if that number sounds surprisingly high and disconnected from your lived experience, there’s a reason for that. Means are calculated by taking a total amount and dividing it by the number of individuals … Read more

Social Security’s cost of living adjustment (COLA) changes after the Fed cut rates again

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Social Security’s cost of living adjustment (COLA) changes after the Fed cut rates again

COLA 2026 was announced at 2.8% in October 2025. Fed projections suggest a potential COLA for 2027 in the range of 2.3% to 2.6% if CPI is slightly above PCE. Retirees who rely on interest income from CDs and savings accounts have seen their earnings drop after recent rate cuts. If you’re thinking about retiring … Read more

Dow, S&P 500, Nasdaq futures fall as Oracle earnings reignite AI spending fears

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Dow, S&P 500, Nasdaq futures fall as Oracle earnings reignite AI spending fears

U.S. stock futures sank on Thursday as Oracle ( ORCL ) earnings revived concerns about artificial intelligence trading, taking the wind out of Wall Street’s rally following the Federal Reserve’s latest interest rate cut. Contracts on the S&P 500 (ES=F) and Nasdaq 100 (NQ=F) were down 0.8% and 1.2%, respectively. Dow Jones Industrial Average (YM=F) … Read more

Will a Fed rate cut lower rates?

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Will a Fed rate cut lower rates?

Mortgage rates were capped at intervals of more than six weeks, with nothing forcing them to go up or down. According to Zillow, the 30-year average rate is 6.07%. The average rate over 15 years is 5.53%. A Federal Reserve rate cut is likely tomorrow, comments from Fed Chairman Jerome Powell and the Fed’s points … Read more

I give my son $250,000 and my daughter 50% of a rental we jointly own. Is that correct?

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I give my son 0,000 and my daughter 50% of a rental we jointly own. Is that correct?

“My son had no financial stake in that property.” (Photo subjects are models.) – Getty Images/iStockphoto Instead of giving my son a share of the rental property that I own 50/50 with my daughter, I promised to give him $250,000 as an inheritance before I die. The reason was simple: my son had no financial … Read more

Consumer sentiment rises, September inflation data rose as expected

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Consumer sentiment rises, September inflation data rose as expected

00:00 scratch We have some breaking news breaking the wire right now. We have PCE, personal consumption expenditures in line with estimates. This is for September, remember, so it’s up 3/10 of 1% month-over-month, 2.8% year-over-year. If you strip out volatile food and energy costs, you’ll get a 2/10 percent increase again, right in line … Read more

With the penny gone, what should you do with the ones in your jar?

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With the penny gone, what should you do with the ones in your jar?

Learn to love your coins. That’s the message from Kevin McColly, CEO of Coinstar, the company behind those coin-operated machines you see in supermarkets. American consumers made only 16% of their payments in cash in 2023, according to the Federal Reserve. A 2022 Pew survey found that two-fifths of consumers never use cash. More: The … Read more