personal finance

Opinion: Household wealth plummets by $13.5 trillion, second-worst drop on record

Opinion: Household wealth plummets by $13.5 trillion, second-worst drop on record

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US households lost an estimated $6.8 trillion in wealth in the first three quarters of 2022 as the SPX stock market, -0.73% DJIA, -0.90% COMP, -0.70% has lost more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts. Nominal net worth fell 4.6% to $143.3 trillion, as the …

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Buyers dip into their savings and go into debt. This could cause a holiday hangover | CNN Business

Buyers dip into their savings and go into debt. This could cause a holiday hangover | CNN Business

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New York CNN — Despite high inflation and recession fears, the holiday shopping season seems to be off to a good start. Black Friday and Cyber ​​Monday sales were strong as Americans were lured by deep discounts. Although consumer spending is slowing, it remains surprisingly resilient. The problem, however, is that many Americans’ paychecks are …

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Here are 4 money moves you should make to set yourself up for financial success in 2023

Here are 4 money moves you should make to set yourself up for financial success in 2023

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As the end of the year approaches, it may be time to reassess your finances. This year has been marked by record inflation and multiple interest rate hikes. As the Fed attempts to rein in inflation by raising interest rates, there is a strong possibility that the economy will teeter into recession in the coming …

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How to make the most of the new rules for charitable donations

How to make the most of the new rules for charitable donations

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The investment information provided on this page is for educational purposes only. NerdWallet does not provide advisory or brokerage services, and does not recommend or advise investors to buy or sell particular stocks, securities or other investments. Most people no longer get a tax deduction when donating to charity. This shouldn’t stop you from donating, …

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These small-cap stocks could make you the most money in 2023, based on two important data points

These small-cap stocks could make you the most money in 2023, based on two important data points

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Small-cap stocks are trading near a two-decade low against large-cap stocks. When the stock market rebounds next year, as many investment banking strategists expect, these smaller companies could outperform. Below is a screen of analyst favorite small cap stocks for 2023, taken from the S&P Small Cap 600 SML Index, that requires businesses to be …

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50% of women say they are behind on their retirement savings. Here's why they face challenges

50% of women say they are behind on their retirement savings. Here’s why they face challenges

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Tim Robbert | Digital Vision | Getty Images Finding enough money for retirement is a challenge for all workers. Women are 50% more likely to say they are late, compared to 35% of men, according to a new report from Goldman Sachs. In addition, 24% said they were “very late”, compared to 14% of men. …

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Can you still retire with $1 million? That's what today's millionaires want to know.

Can you still retire with $1 million? That’s what today’s millionaires want to know.

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OK, so a million dollars isn’t what it used to be. That’s the worry of a surprising number of American millionaires. At least that’s what fund management giant Natixis, which owns bond boutique Loomis Sayles, among other companies, reports. Natixis surveyed around 1,600 people with at least $1 million in “investable assets”. And just over …

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Liz Weston: Make the most of the new charitable giving rules

Liz Weston: Make the most of the new charitable giving rules

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At LIZ WESTON or NerdWallet Most people no longer get a tax deduction when donating to charity. This shouldn’t stop you from donating, but you may want to change your approach. Generally, only taxpayers who itemize deductions can write off charitable contributions. The vast majority of taxpayers take the standard deduction instead, which was nearly …

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