Hear from Americans still trying to leave Israel
Commercial airlines have, for days now, halted all flights in and out of Israel due to the ongoing conflict with Iran. CNN spoke to multiple Americans in central Israel who are still struggling to leave the country.
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Bloomberg
37 minutes ago
- Bloomberg
Trump's Twists and Turns Over Iran Leave Oil Traders Hanging
The oil market is wrestling with Donald Trump's next act in the conflict between Iran and Israel, with the US president's every utterance over the fighting seemingly capable of spiking or crashing prices. In a wild week, Brent futures have surged 11% from before Israel attacked its nemesis, but with sharp moves up and down from one day to the next.
The Hill
37 minutes ago
- The Hill
Baby Boomers: 1 in 3 say they'll never sell their home, according to survey
(NewsNation) — Over one-third of baby boomers who own their homes claim they will never sell them, according to a Redfin-commissioned survey. The survey also found that an additional 30% say they will at least hold on to their home for a decade, but are willing to sell. Those who are older (the Silent Generation) are even less likely to sell their homes, with 44.6% saying they never would. Younger homeowners, however, are on the opposite side of the spectrum. 21% of millennials/Gen Zers and 25% of Gen Xers said they would never sell their homes. According to Redfin, these results could reflect the fact that many baby boomers don't have the financial incentive that is typically needed to sell a home. Also, many older homeowners have lived in the same home for a while and prefer to stay where they are. Around 67% of the baby boomers in the study had lived in their homes for at least 16 years. Fifty-five percent of baby boomers said they like their homes and have no reason to move, which is the most common reason they stayed. Other common reasons included: Housing prices are up around 40% since before the COVID-19 pandemic, according to Redfin, with mortgage rates nearing 7%. That's up from around 4% before the pandemic. Currently, 31% of baby boomers said they wouldn't be able to own a home in a neighborhood similar to theirs in today's economy. This reasoning is also making it harder for younger Americans to find homes. 88% of homes owned by Baby Boomers are single-family homes, which also might not be large enough to fit an entire family. Only 5% are condos and 4% are townhomes. An analysis by Redfin in 2024 showed that baby boomers are much more likely to have larger homes, despite most millennials and Gen Z homeowners having minor children living at home, compared to only 4% of Baby Boomers. Redfin Chief Economist Daryl Fairweather said, 'With baby boomers opting to age in place rather than sell, it's challenging for younger buyers to find affordable options that fit their lifestyle. But it's worth noting that even though many older Americans say they're not planning to sell their homes, many are likely to eventually part ways as it becomes harder to live independently and/or keep up with home maintenance.' The study also showed that around 25% of millennials and Gen Zers won't be buying a home anytime soon because they can't afford one where they want to live. Other reasons include: At least supply is up, with nearly 500,000 more home sellers than buyers in the current market, according to Redfin. Redfin economists believe that home prices will decline by 1% by the end of 2025. This survey was commissioned by Redfin and conducted by Ipsos in May. Around 4,000 residents were included in the survey.
Miami Herald
an hour ago
- Miami Herald
Jean Chatzky sends powerful message on Social Security, 401(k)s
For many Americans, preparing for retirement means carefully evaluating key financial milestones tied to different stages of life in order to maintain financial security and preserve the quality of life they hope to enjoy. Everyday costs - such as groceries, utilities, mobile services, and transportation - play a major role in shaping workers' financial priorities and determining how much they can put toward savings and investments. Jean Chatzky, former financial editor for NBC's "Today Show" and now with AARP, recognizes these challenges. She works to guide people through smart strategies for boosting their Social Security benefits and making the most of employer-sponsored 401(k) plans. Don't miss the move: Subscribe to TheStreet's free daily newsletter Assessing one's future income sources - including Social Security and personal retirement accounts such as 401(k)s - is a key part of building a secure retirement plan. Chatzky encourages Americans to think strategically about when to begin collecting Social Security, as claiming early can significantly shrink monthly payments. For those who anticipate a longer lifespan, she suggests holding off until age 70 to receive the maximum possible benefit. When it comes to married couples, Chatzky advises that the spouse with the higher earnings history delay tapping into benefits - especially if the other partner is likely to live longer - helping to ensure greater long-term financial support. She also highlights the upside of continuing to work while drawing Social Security, whether one does so for financial reasons or to stay active and connected during retirement. Related: Tony Robbins sends strong message to Americans on 401(k)s Beyond Social Security, Chatzky highlights both the opportunities and potential pitfalls tied to retirement accounts such as 401(k)s. She underscores the fact that many Americans are at real risk of depleting their savings during retirement. To help combat this, Chatzky shares practical approaches aimed at stretching retirement dollars further and minimizing the chance of financial shortfalls later in life. Chatzky emphasizes her belief that regularly setting aside money is essential for making more room in one's budget to invest in a 401(k) plan. "This is why saving in a 401(k) plan works," Chatzky explained in "Money Rules," a book she authored that offers solutions to personal finance challenges. "The money is swiped out of your pay before it ever lands in your checking account so you never see it. It's invisible, which makes it safe, for out-of-sight means you can't pull it out of the ATM." "If you can't see it and you can't touch it, you won't spend it," Chatzky wrote. More on retirement: Dave Ramsey offers urgent thoughts about MedicareJean Chatzky shares major statement on Social SecurityTony Robbins has blunt words on IRAs,401(k)s Chatzky advises people that there is no need to limit this philosophy to one's 401(k) contributions. "Have money swiped out of your checking account as soon as you get paid," she wrote. "Barricade it by parking it in places that penalize you for early withdrawal like 529 college savings accounts, IRAs, and certificates of deposit." "Even putting the money in an Internet savings account that doesn't come with an ATM card can do the trick surprisingly well," Chatzky continued. Related: Shark Tank's Kevin O'Leary warns Americans on 401(k)s Chatzky explains one way to look at retirement savings tasks such as boosting 401(k) values to achieve goals: as financial security maps. "The only way to find financial security is to draw yourself a map," Chatzky wrote. "Folks who have specific financial plans that detail what they want - say, retirement at 67 with a paid-off mortgage, membership at the local golf club, and enough money to take two trips to the Caribbean a year - save more than people who don't have specific financial plans." Chatzky points out that people tend to get sidetracked by everyday distractions, which is why having a clear financial plan is essential. Without a direction, it's difficult to make meaningful progress toward retirement goals. Of course, she acknowledges that plans can - and should - evolve. One day, she explains, you might realize you no longer see yourself retiring in your current home and instead imagine starting a new chapter somewhere more adventurous or serene. When that moment comes, the solution isn't to abandon planning altogether - it's to create a new roadmap that reflects your updated vision. To Chatzky, regularly refining one's goals is far more effective than drifting without any at all. Related: Dave Ramsey sends strong message to Americans on Medicare The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
