In the U.S., the traditional narrative of how to succeed financially in has been to do the following: Go to college and earn a degree Use that degree to get a good job (with health insurance) that pays enough money…
Pre-recession, the major narrative was that American households were spending too much and saving too little. Now, we’re saving again, and household debt burdens have declined to their lowest rates in over a decade. Well, pat ourselves on the back;…
According to a recent study, the average Canadian household’s net worth (total assets minus total liabilities) is, for the first time in recent history, higher than the average American household’s net worth; more than $40,000 higher, in fact. Is it…
The recently released 2010 Survey of Consumer Finances data from the Federal Reserve Board has quantified what we knew to be true in the post-recession years: wealth levels have dropped, dramatically. The story of the average American family, however, like all…
The recent debate and negotiations this week in Congress over student loans has me fuming. The primary question is whether or not to increase interest rates on subsidized Stafford loans, loans that go to students from families that earn less…
Although the recession is officially over, recent jobs reports, stock market volatility, and other news indicate continued struggles and heightened insecurity for nearly all demographic groups: U.S. teens face their highest jobless rates in decades and nearly half of high…
In her post “How old is old? Is 80 the new 65?”, Susan discussed how increases in longevity have dramatically increased the typical years lived post-retirement. The average 65-year-old retiree is now expected to survive until age 84. These changes…
This year marks the end of bank-provided tax refund anticipation loans. Refund anticipation loans (RALs) are short-term loans with high interest and fees that are based on a filer’s expected tax refund (minus tax preparation fees, loan fees, and interest). …