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Baby Boomers Are Overestimating Future Social Security Income (www.bloomberg.com)

Baby boomers anticipate that 47% of pre-retirement earnings will be replaced by Social Security, according to results of an annual survey from the Nationwide Retirement Institute. But the reality for someone making what the Social Security Administration considers the average wage in recent years, about $60,000, is more like...

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Does the archive.ph link also have ads? I use a blocker so I don’t see any.

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This isn’t news, just a rando’s opinion in his blog.

Philippine supply boats breach a Chinese coast guard blockade in the hotly contested South China Sea (apnews.com)

As a United States Navy plane circled overhead, two Philippine boats breached a Chinese coast guard blockade in a dangerous confrontation Tuesday in the disputed South China Sea to deliver food and other supplies to Filipino forces guarding a contested shoal....

Truck purchases are driving up the average cost of car payments. Some buyers pay over $1,000 a month (www.nbcnews.com)

More than 1 in 4 car shoppers in Texas and Wyoming have committed to paying more than $1,000 a month, and experts say it is due to the high volume of large truck purchases in those states, according to a report by auto site Edmunds....

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He’s got Trump’s backing and I hope he wins the nomination. But he’'s too crazy for independents and will galvanize Dem support, so he’s toast in the general election.

FDA approves first RSV vaccine for pregnancy to protect newborns (www.cbsnews.com)

Expectant parents could soon have another new option this fall to protect their newborns from RSV, or respiratory syncytial virus, the most common cause of hospitalization in American infants, after the Food and Drug Administration announced Monday that it has widened its approval for Pfizer’s Abrysvo vaccine to include...

Row over restaurant ‘wealth screening’ boils over in French resort of St-Tropez (www.theguardian.com)

The Nice Matin newspaper quoted unnamed insiders as saying that some restaurants in St-Tropez, a favoured summer haunt of celebrities and the international jet set for more than half a century, had taken to checking customers’ names against their database and refusing reservations if a previous visit was not felt to have...

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I use credit cards for almost all purchases.

As long as you pay it off completely monthly, even modest perks make it an easy choice.

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I could help out with moderation, but I don’t know enough about Lemmy to be a head mod.

I’m interested in PF and would like to see this community grow.

Credit Card Balances Hit New Peak - One Trillion (www.nytimes.com)

Americans’ credit card balances rose briskly in the second quarter, hitting a sobering milestone of more than $1 trillion, the Federal Reserve Bank of New York reported this month. Credit cards are the most prevalent type of household debt, New York Fed researchers wrote in a blog post, and saw the biggest increase of all debt...

Canada wildfire: all 20,000 Yellowknife residents evacuating (www.reuters.com)

Water bombers flew low over Yellowknife as thick smoke blanketed the capital of the vast and sparsely populated Northwest Territories. Officials say the fire, which is moving slowly, is now 15 km (10 miles) northwest of the city and could reach the outskirts by Saturday if there is no rain....

Mortgage rates soar to their highest level in 21 years (www.cnn.com)

The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before. Rates have been above 6.5% since the end of May and climbing higher since mid-July. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since April 2002 when it was 7.13%.

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Below 4% is a huge win. I bought my house in 2007 at 6.5%. Refinanced after the financial meltdown at 5% then again in 2012 at 3.25%.

It’s been an absolute gift to build equity with such a low rate, but I’m also lucky that I didn’t have to move.

U.S. sanctions 4 Russian operatives for 2020 poisoning of opposition leader Alexey Navalny (www.cbsnews.com)

The US Treasury Department identified the sanctioned operatives as Alexey Alexandrovich Alexandrov, Konstantin Kudryavtsev, Ivan Vladimirovich Osipov and Vladimir Alexandrovich Panyaev. Three of the four have worked with a specialized laboratory run by the Russian security service known as the FSB Criminalistics Institute. All...

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It’s not just boomers.

Young savers have done especially well. Gen Z saw a 66% increase in average 401(k) balances compared to a year ago, while millennials saw a 24.5% increase. Average Gen X balances were up 14.5%, and baby boomers saw an average increase of 6.3% compared to a year ago.

Source from Fidelity (PDF)

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Gen Y (millenials) saw the second largest increase. Balances for millenials and Gen Z are much lower due to other expenses like student loans.

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If you’re impulse buying crap online, I find keeping items in the shopping cart for a day or so gives me time to think before pulling the trigger. If it’s an emergency that’s one thing, but most of the time it can wait.

Also I find budgetting apps to be really helpful in curbing unnecessary spending.

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