Archive List for Money

New data from Principal reveals that less than 50% of Americans believe they can manage their current finances while also planning for the future. Principal’s President of Retirement & Income Solutions Chris Littlefield discusses why this perception may not reflect reality for most people. Littlefield points out that inflation has significantly impacted American consumers. The combination of rising prices and the depletion of pandemic savings is causing individuals to “really feel that stress,” he says. While many Americans may feel that saving for retirement while managing current finances is unattainable, Littlefield notes there is still “a big effort” among Americans to save. However, Littlefield highlights a concerning gender gap in […]

The Federal Reserve’s recent 50 basis point rate cut in September has investors speculating about the central bank’s future rate-cutting path as the November meeting approaches. With rates trending downward, Claris Financial Advisors Founder Lee Baker joins Wealth! to discuss the impact of lower rates on personal finances. Baker explains that rate cuts have a dual effect on individual finances. First, they lead to lower returns on savings accounts, including high-yield options. Second, they result in reduced interest rates on debt, potentially allowing individuals to save more on their borrowings. For those with high-yield savings accounts, Baker advises careful consideration of financial needs before making any changes to investment strategies. […]