Labor / personnel issues

401(k) Hardship Withdrawals Hit an All-Time High of 'Worrying', Says Vanguard

401(k) Hardship Withdrawals Hit an All-Time High of ‘Worrying’, Says Vanguard

Amid stubbornly high inflation, a record proportion of Americans are turning their 401(K) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of about five million employer-sponsored 401(k) accounts that Vanguard manages, the researchers said that 0.5% made hardship withdrawals in October. It’s a “worrying” all-time high, said retirement savings and …

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“Most economists predict a recession in 2023”: I own a rental property.  Is it the right time to take out a bank loan and renovate or should I wait?

“Most economists predict a recession in 2023”: I own a rental property. Is it the right time to take out a bank loan and renovate or should I wait?

Dear MarketWatch, Along with a sibling, I own a 40+ bedroom rental property in the Caribbean, where we do weekly rentals. It is near the city center but needs repairs and renovations. Is it a good time to go to the bank for a renovation loan? We are also open to changing our business model. …

“Most economists predict a recession in 2023”: I own a rental property. Is it the right time to take out a bank loan and renovate or should I wait? Read More »

My wife agreed to vouch for her son's rental without telling me.  His car was seized for non-payment of his loan.  What should I do?

My wife agreed to vouch for her son’s rental without telling me. His car was seized for non-payment of his loan. What should I do?

Dear Quentin, About four days ago I received an email from my wife’s bank saying that someone had requested her login username through a password reset. When I asked my wife about this she said she forgot her username and was trying to get my stepson access to her online portal so he could download …

My wife agreed to vouch for her son’s rental without telling me. His car was seized for non-payment of his loan. What should I do? Read More »

This state has the best personal finance education in the US - you can tell by its average credit score

This state has the best personal finance education in the US – you can tell by its average credit score

Financial literacy is key to managing money, but how well are states preparing their students? Tennessee tops the list of US states that offer the best financial education to its residents, according to a new report from financial services firm OneMain Financial. More than 99% of public high school students in Tennessee have what is …

This state has the best personal finance education in the US – you can tell by its average credit score Read More »