ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Inflation is still a thing. It's running at 3.7%, according to the consumer price index for September. The figure represents the rise in prices over a year. |
Annual inflation hit a 40-year high of 9.1% in June 2022, then slowed to around 3% in the first half of this year. Since then, costs of rent, car repairs and auto insurance have drifted higher, alongside briskly rising employee wages. |
Used cars and furniture, by contrast, are becoming more affordable, as pandemic-related supply-chain kinks have smoothed out. | A 100th birthday party. Many adults, and especially men, underestimate how long they will live. Denise O'Brien |
How long does retirement last? Many of us don't know |
Most of us seem to know that the average American lives between 70 and 80 years: 73.5 years for men, 79.3 for women, to be exact. Fewer of us understand that life expectancy rises with age. An American man who turns 70 today will live to 85, on average. A woman of 70 will live to 87. |
Longevity literacy matters when it comes to retirement planning. If your retirement budget assumes you will live to 75, and you make it to 85, you will probably run out of money. |
"Moving into retirement, you have to think about, 'When am I going to die?'" said Paul Yakoboski, a senior economist at the TIAA Institute, the research arm of the financial-services nonprofit. "That filters back on how I'm managing my money, how I'm drawing it down." |
📰More stories you shouldn't miss📰 |
California's liberal Gov. Gavin Newsom has enacted a law known as the "Skittles Ban," cracking down on food additives that give movie-theater munchies much of their appeal: brominated vegetable oil, potassium bromate, propylparaben and Red Dye 3. |
The law will ban the sale, distribution and production of the additives, which are used in thousands of grocery-aisle products. Newsom's crusade doesn't actually impact Skittles – thank the rainbow! – because candy advocates persuaded lawmakers to exclude titanium dioxide from the list of banned additives. (Everyone knows it's the titanium dioxide that gives Skittles their flavorful pop.) |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Inflation stayed elevated in September after picking up over the summer as rent increases offset falling used car prices. Will the Fed hike again? | | | | Many Americans, and especially men, don't know how long retirement lasts. That knowledge gap could leave them without sufficient savings | | | | Using the $200,000 income threshold, these US states saw significant gains in high-income families during the pandemic while others shed high earners. | | | | Sam Bankman-Fried was the 'richest self-made newcomer in Forbes 400 history.' I told my parents it's the equivalent of indicting Warren Buffett. | | | | A lucky California resident is $1.76 billion richer (before taxes) after buying the winning ticket for Powerball ahead of Wednesday's drawing. | | | | Hamas flooded social media with graphic videos and violent images as a key element in its deadly attack on Israel, online terrorism experts said. | | | | Google said in a blog post Tuesday it is prompting users to create passkeys instead of using passwords. | | | | Walmart has decided to close its stores for Thanksgiving for the fourth year in a row. Several other retailers are doing the same. | | | | Officials say it's a balancing act to reopen West Maui after the deadly wildfires two months ago. Some residents say they need more time to heal. | | | | Denise Hammond was injured on a cruise ship sailing the Pacific Ocean, and getting to a hospital to perform surgery has become an "insane" issue. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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