More than half of Americans wouldn’t pull money from their savings accounts to cover an emergency expense of $1,000 or more, according to a new survey by Bankrate.
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The Department of Labor published an FAQ regarding pension-linked emergency savings accounts, or PLESAs, which were mandated by the 2022 Secure 2.0 Act.
More than two in five Americans say they do not feel financially stable, with nearly one-third saying they have less than $500 in their emergency savings funds, according to a new survey by Edward Jones and Morning Consult.
U.S. adults sought to save an average of $5,437 in 2022 but ultimately saved $5,011 on average, according to a new survey by insurer New York Life.
Most Americans say they are continuing to save even as inflation chips away at their earnings, according to a recent survey.
While borrowers are getting pinched by rising interest rates, senior savers are seeing meaningful returns for the first time in decades, former ABA Chair Laurie Stewart said in an interview on NPR’s “Marketplace” program last night.
A dramatic increase in the rate of personal savings during the COVID-19 pandemic—driven in part by federal stimulus—may have contributed to persistently high inflation amid constrained supply, according to an economic analysis published today by Federal Reserve staff.
As more of our lives continue to shift to digitally based providers, direct banks are in a position to gain market share and mindshare by delivering around-the-clock access and products with attractive fee structures and interest rates.
The vast majority of Americans, 83%, are looking for advice or guidance from their primary retail banks as their financial stress has increased during the pandemic, according to a recent study from J.D. Power.
For bank customers, what’s in (or isn’t in) a bank account can be a source of anxiety. By contrast, says Brian N. Ford, “our research shows that when you have a fully funded account and it’s in the right place, a tremendous amount of confidence will come into your life, regardless of if an emergency ever happens to you in the future.”