Category: personal finance

Foreclosure Wave and the Slowdown on New Home Constructions

August 31, 2022
Brightforeclosureshomebuyershousinginboundinvestingpersonal financereal estate
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Loan servicers and banks are expecting a wave of foreclosures to inbound. The foreclosures over the past two years have built up due to the foreclosure and eviction moratorium. Data from the Mortgage Bankers Association conclude that when there is a spike in defaults, typically there also is an increase in foreclosures; but in 2020…

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Liz Weston: Why Is Money so Confusing?

August 31, 2022
Brightbudgetingfinancial advicefinancial literacyFuture Planningmoneypersonal finance
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Managing money is an essential life skill, yet most U.S. adults would fail a financial literacy test. Consider the results of a survey meant to measure financial literacy, called the TIAA Institute-GFLEC Personal Finance Index. On average, U.S. adults correctly answered only 50 percent of its financial literacy questions in 2022. In other words: If…

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US Job Openings in July Add to Fear of Stronger Rate Hikes

August 31, 2022
Business & Marketseconomic policieseconomyinflationjob openingspersonal financerecessionunemploymentUS
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U.S. job openings rose in July, while data for June was revised sharply higher and unemployment remains low, according to the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS report, on Aug. 30. The extremely tight labor market conditions will probably give the Federal Reserve more leeway to continue increasing interest rates in its…

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The Savings Game: IRS Guidance on Inherited IRAs, and Other Reader Questions

August 30, 2022
BrightFixed IncomeIRApersonal financeretirementRMDsRoth IRASocial Security
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By Elliot Raphaelson Q: I recently inherited a traditional IRA from my deceased mother, who was 76 and had been taking RMDs each year. Based on everything I had read, I thought that I did not have to take any required distributions (RMDs) in years one through nine, but I would be required under the 10-year…

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How Major US Stock Indexes Fared Tuesday Aug. 30, 2022

August 30, 2022
BrightBusiness & MarketsDow Jones industrial averageinvestingMarketsNASDAQpersonal financestocks
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Stocks fell again on Wall Street, posting their third loss in a row as traders worry that high interest rates are here to stay for a while. The S&P 500 fell 1.1 percent Tuesday, bringing its loss in the past three days to 5.1 percent. The Dow Jones Industrial Average and the Nasdaq also fell….

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Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 30)

August 30, 2022
Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for October delivery fell $5.37 to $91.64 a barrel Tuesday. Brent crude for October delivery fell $5.78 to $99.31 a barrel. Wholesale gasoline for September delivery fell 19 cents to $2.69 a gallon. September heating oil fell 9 cents to $3.82 a gallon. October natural gas fell 30 cents to $9.04…

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Inflation Pushes Rents to Record High, New York City’s Climb Above $4,000

August 30, 2022
Business & MarketseconomyinflationMarketsNY Real Estatepersonal financereal estaterentalUSUS Real Estate
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Inflation is pushing rent to new highs, as more than half of U.S. metropolitan areas have witnessed double-digit rent increases, with even some of the “hotter” regions in the Sun Belt showing signs of cooling down, according to the Zumper National Rent Index for August. Many renters who were already facing high rents are also facing a…

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Bidirectional EV Chargers Do Much More Than Just Recharge Your Car

August 30, 2022
BrightbudgetingElectric VehiclesEV chargerFuture Planningpersonal financesave money
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Even though the cost of running an electric vehicle is less expensive than a gasoline-powered car, there are still some new and unique ways to save money. The talk about bidirectional charging systems for electric vehicles (EVs) has been taking place for some time, and it may be time for you to start thinking about…

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‘Black Swan’ Author Says Colleges—Not Taxpayers—Should Pay for Biden’s Student Loan Wipeout

August 30, 2022
black swanBusiness & Marketseconomic policieseconomyExecutive BranchJoe Bidenpersonal financePoliticsstudent loan forgivenessUSUS News
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Economist Nassim Nicholas Taleb, author of the bestselling book “The Black Swan” that deals with the extreme impact of rare events, has criticized President Joe Biden’s student loan debt forgiveness plan. Taleb, whose book argues that systems should be designed to be “antifragile” and build resilience when subjected to stress from adverse events, said in…

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