Patricio Nahuelhual | Moment | Getty Images At risk of stating the obvious: Boosting one’s savings rate is among the best ways to improve a household’s retirement prospects. Doing so increases the size of the financial war chest one can deploy in old age. But there’s another, somewhat hidden benefit to saving a larger share…
Inflation concerns are spilling into “date-flation” discussions online, as social media users react to a surprising stat: Millennials spend $252, on average, for a date. The figure, which CNBC reported on in April, comes from BMO Financial Group’s 2026 BMO Real Financial Progress Index. The average “all-in” spend on a date in America — including pre-date…
Amazon executive chairman Jeff Bezos on Wednesday called for zero federal income taxes on the bottom half of earners. The top 1% of taxpayers pay 40% of all the tax revenue, and the bottom half pay 3%, Bezos told CNBC’s Andrew Ross Sorkin on “Squawk Box.” “I don’t think it should be 3%,” Bezos said….
Fly View Productions | E+ | Getty Images As many homebuyers discover, getting a fixed-rate mortgage doesn’t necessarily mean your monthly payment will remain the same. For many homeowners, in addition to principal and interest payments each month, their mortgage payment includes amounts that go into an escrow account. That account then pays out homeowners…
A sign for the Senior Community Service Employment Program at the AARP Foundation in Harrisburg, Pennsylvania, May 18, 2017. Laurie Kellman | AP Ronald Williams was unemployed when a friend recommended a local jobs program for older workers. After he completed training with Goodwill in 2024, Williams quickly landed a job as a custodian —…
A man walks by the dairy section at a supermarket in Houston, Texas, on March 17, 2026. Ronaldo Schemidt | AFP | Getty Images New government data showing rising inflation points to a higher Social Security cost-of-living adjustment for 2027, according to new forecasts. The Social Security COLA may be 4.2% amid “sharply rising” gasoline,…
Suspending the federal gas tax could bring down prices at the pump. But the move may not provide consumers with meaningful relief, experts say, and it could deplete a key federal fund for highway construction and maintenance. On Monday, President Donald Trump said in Oval Office remarks that he would “reduce” the tax, after saying in an…
Fuel prices are displayed on a sign as customers fill their vehicles at a gas station on April 13, 2026 in Miami, Florida. Joe Raedle | Getty Images Inflation jumped in April to the highest level in nearly three years as surging gas prices due to the Iran war pushed up the cost of many…
Used cars are offered for sale at a dealership on July 11, 2023 in Chicago, Illinois. Scott Olson | Getty Images The head of one of the nation’s largest auto finance lenders isn’t overly concerned about rising consumer automotive debt and inflated used car prices leading to longer loans on vehicle purchases. His main reasoning?…
Adamkaz | E+ | Getty Images Building up a large balance in a health savings account can be a smart financial move to cover medical expenses in old age. But dying with a hefty HSA can pose tax problems for heirs — specifically, non-spouse heirs like children, grandchildren, friends and others, according to financial planners….
