According to Fidelity’s Q2 2024 retirement analysis report, the number of 401(k) millionaires in the US reached another record high, 497,000, up from 485,000 in the preceding quarter. Fidelity attributed the steady growth over the last few quarters to an improving macroeconomic landscape and more 401(k) participants starting early and steadily contributing to the employee-sponsored … Read more
KEY POINTS Financial psychologists Dr. Brad Klontz and Ted Klontz co-developed the concept of money personalities. Understanding your money personality can also help your well-being by alleviating the stress and anxiety associated with financial decisions. When it comes to personal finances, everyone has a unique approach, often shaped by their experiences, upbringing, and personality. Understanding … Read more
A salesperson from Vancouver, Canada, recently dialled “The Dave Ramsey” show for urgent financial advice on uncontrollable debts despite his household’s total annual gross income of $300,000. Although his monthly take-home pay is $8,500, alongside an additional $2,000 rental income from a two-bedroom apartment, the family’s monthly expenses amount to almost $12,000, led by $7,200 … Read more
A credit score determines your creditworthiness. When you apply for products like credit cards, loans, or mortgages, lenders check your credit score and profile to review your loan repayment history, credit utilisation, credit mix, and enquiries before determining your loan eligibility and terms. A poor credit score could lead to application rejection or approval with … Read more
In my experience, it is important to start conversations about money and financial management at a young age, so as early as six to seven years old. And even at this age, children are exposed to technology. However, I recommend using cash to demonstrate financial concepts. Andrea:That’s what you do with your kids, you give … Read more
Weddings can be costly – and while the internet is teeming with countless cost-cutting tips, one couple took a decidedly unconventional approach to reducing their wedding expenses: charging their guests. To alleviate the financial burden of their wedding, newlyweds Nova and Reemo Styles took an innovative approach: They treated their nuptials like a concert and … Read more
Holidaymakers say their ideal holiday includes seven local dishes, sipping on four cocktails and cooling down with five ice creams. The study, of 2,000 adults, found three quarters (77 %) always enjoy their food and drink a little more while on holiday. Getaways also typically include four sessions reading by the pool, five sightseeing trips … Read more
As many across the globe grapple with the harsh realities of a global recession, personal financial challenges have become increasingly prevalent. A financial therapist offers valuable insights into four simple mindset shifts that can help transform your financial outlook and pave the way to wealth. Amanda Clayman, a financial therapist based in Los Angeles, recently … Read more
According to the 2024 BlackRock Read on Retirement report, sixty per cent of Americans across all generations worry they’ll outlive their retirement savings. Retirement is a profoundly personal journey, but many of the challenges workers encounter are shared experiences. The perspective on retirement can vary significantly between those just starting their careers and those nearing … Read more
Sharing her personal experience, TikTok user Jo shed light on a common emotional struggle adult children face when their parents age. Jo explained that her mother anticipates financial support from her in her later years, even though their family relationship has been strained. Jo’s mom bluntly declared her retirement plan to her children during a … Read more
 "Did COVID accelerate brain ageing among teens? – Firstpost")
