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Friday 31 July 2020

The Daily Money: Does a 401(k) plan still make sense for you?

Today's top stories from USA TODAY Money. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Friday, July 31

We made it to Friday, Daily Money readers. Brett Molina here to wrap up another work week with some more Money and Tech headlines.

It's not a topic you would expect to generate a lot of buzz, but a recent column has sparked debate over the value of 401(k) accounts. So, we ask the question: does it still make sense to save into a 401(k)?

A recent survey found many Americans are underestimating how much money they will need in retirement. On average, participants said they think workers need about 67% of their pre-retirement income. However, experts believe it should be between 70% and 85%. 

Finally, investing isn't exactly the most romantic subject to broach with your partner. But getting your spouse interested in investing could pay big dividends in the future. Here's how to make that approach.

Scroll down for more headlines, and enjoy your weekend.

Brett Molina, Money/Tech editor

Words 401(K) popping through a one dollar bill.
Does a 401(k) plan still make sense for you? It might
All 401(k) plans aren't the same. All savers have different incentives, which makes it wrong to conclude that 401(k)s are worthless.
You might need more money than you think for retirement
Broken white piggy bank with coins spilling out.
How to get your spouse on board with investing
Couple blissfully staring at a sunrise over water
LG Velvet: A sleek new smartphone with an OK camera
LG Velvet
Gorgeous 2021 LC 500 convertible takes Lexus style...
Jewel-like running light and headlights on 2021 Le
Extra $600 in unemployment set to lapse as talks...
Senate Majority Leader Mitch McConnell  listens du
Nordstrom to lay off some workers amid COVID-19
Nordstrom is working to help make masks during thi
These are the states with the most COVID-19 cases
Medical authorities test for COVID-19 on June 26 i
Apple's next iPhones won't be out in September
iPhone SE.
Facebook is doing OK despite ad boycott
Facebook CEO Mark Zuckerberg.
 
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Thursday 30 July 2020

The Daily Money: The US economy shrank a record 33% in the second quarter

Today's top stories from USA TODAY Money. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Thursday, July 30

The weekend is within reach, Daily Money readers. It's Brett Molina back in your inbox with your Money and Tech headlines for Thursday.

As we are all very aware, the COVID-19 pandemic has hammered the U.S. economy. Now, we have a sense of how badly. The economy shrank 33% during the second quarter, according to a Commerce Department report on the gross domestic product (the value of all goods and services in the U.S.). It's the worst performance ever by the U.S. economy. 

Remember the viral video of a woman in Arizona who destroyed a mask display at a local Target? She is speaking out. In an exclusive interview with USA TODAY, Melissa Rein Lively says she regrets what's happened and is in treatment for mental illness. "What happened to me was scary and it changed my life forever," said Rein Lively. "I felt I had absolutely no control over my actions."

Finally, a study commissioned by the Time's Up Foundation and conducted by the firm PerryUndem found Black and Latina women are struggling to buy food and build up their savings during the pandemic.

Need more headlines? Keep scrolling.

Brett Molina, Money/Tech editor

Red "recession" sign in front of a chart with a declining line.
US economy turns in worst performance ever in Q2 as COVID-19 shutters...
U.S. gross domestic product fell at annual rate of 32.9% in second quarter as states shut down nonessential businesses and consumers largely stayed home.
Shopper who destroyed Target mask display regrets...
Target
COVID-19 magnifies race and gender pay gaps
Ash Girtley is struggling to make ends meet amid t
After the COVID economy, what will be left?
OPINION
Closed business  on July 21, 2020 in the Brooklyn
1.4M filed for unemployment as extra $600 ends
Unemployment claim document on table with open pen
T.J. Maxx, Marshalls, Homegoods require masks starting...
T.J. Maxx will stay closed on Thanksgiving.
CBS All Access gets its MTV — 2021 rebrand set
Nickelodeon has been added to the CBS All-Access l
Dunkin' may close 800 stores by the end of 2020
A Dunkin' outlet with an "America Runs on Dunkin'"
Would you wear chicken-scented shoes? KFC bets you...
VPC KFC
Q&A: Khan Academy CEO talks virtual schooling
Sal Khan, 34, the founder of Khan Academy is photo
 
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