Key takeaways Under the Equal Credit Opportunity Act, lenders can’t discriminate against applicants because of their age. As a result, seniors — like people in other age groups — can get mortgages if they meet a lender’s approval criteria. However, seniors may find it harder to qualify for a new home loan if they have
When is someone too old to work or too old to get hired? According to many employers, 62 is the cutoff for working, and 58 for hiring. It begs the question: What planet are they on? “Many employers are focusing on diversity, equity, and inclusion, but they may be overlooking age in their hiring efforts,”
The latest “magic” retirement number is $1.46 million, according to Northwestern Mutual’s 2024 Planning and Progress Study. That figure has been circulating in the financial press for the past week, engendering conversation—and some dismay—online. But financial advisors say there’s no magic number that guarantees a comfortable retirement for all. Such figures can be used as
Overearth / Getty Images/iStockphoto With the resurgence of the price of Bitcoin — partly driven by the January approval of spot Bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) — there has been renewed interest in the crypto space as of late. Check Out: 8 Best Cryptocurrencies To Invest In for 2024Read
Until a few months ago, Kloe Lloyd, who works as a policy and advocacy associate for a research firm in Washington, D.C., did not have saving for retirement on her to-do list. “It’s been a struggle,” the 25-year-old told Yahoo Finance. “A lot of Gen Zers like me got a late start with our career
Jeremy Stempien, Portfolio Manager and Strategist, PGIM DC Solutions (Photo: Business Wire) Suite of three Funds seeks to help U.S. workers manage their long-term investments with spending flexibility in mind NEWARK, N.J., April 03, 2024–(BUSINESS WIRE)–PGIM,1 the $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has launched three retirement spending funds:
There’s a huge chasm between what Americans say they’ll need in retirement and how much they actually have socked away — regardless of age. On average, Americans estimate they should save $1.46 million for a comfortable retirement, a new Northwestern Mutual study out this week found. That’s a 15% increase over last year and a
In January 2022, financial advisor Andrew Fincher was working with a couple who wanted to invest the six-figure proceeds they made from selling one of their parents’ houses. They were concerned that the market could plunge after they bought in. Fincher of VLP Financial Advisors in Vienna, Va., recommended that they dollar-cost average. Instead of investing
While collective investment trusts (CITs) almost caught mutual funds in 2023 as the most popular target-date vehicle, it appears likely they will overtake mutual funds by the end of 2024. According to Morningstar’s annual Target-Date Strategy Landscape Report released March 26, CITs—which since at least 2020 have attracted the most new money—continued to dominate
The Fed’s High Interest Rates Are Helping Pension Funds Close the Gap
This is commentary by Allan Sloan, an independent business journalist and seven-time winner of the Loeb Award, business journalism’s highest honor. We hear lots of talk about the problems that high interest rates have been causing since the Federal Reserve began jacking up rates two years ago. We also hear endless talk from people waiting