Lorie Konish CNBC Published 3:35 PM EDT Jul 22, 2019 When it comes to financial independence, it probably comes as no surprise that parents and children are not on the same page. What is surprising is that young Americans anticipate being financially independent several years earlier than their parents expect them to. Young Americans say they’ll be financially independent by age 22. Meanwhile, their parents don’t expect to cut the purse strings until their children are 25. That’s according to a recent survey from TD Ameritrade that looked at what young Americans ages 15 to 28 and parents ages 30 to 60 see for their financial futures. The results also pointed to the ages – on average – at which young adults expect to reach key financial milestones. Adjusted for inflation: The top 10 highest-grossing films of all time in the US The first among them, it turns out, is paying for your own streaming service. Young adults expect to be able to do that by … [Read more...] about When do kids become financially independent?
By David Stanway and John Ruwitch SHANGHAI, June 11 (Reuters) – A popular Chinese financial news site, wallstreetcn.com, said it has been shut down to undergo “rectification” amid a wider crackdown by the Chinese authorities on websites and news providers. The move comes just days after Beijing blocked a new batch of foreign news websites, including the Washington Post and Britain’s Guardian newspaper, according to those outlets. A swath of social media accounts known for publishing news and commentary on current events appear to have been suspended. Wallstreetcn.com said online on Monday night that its website and app had been taken down following a request from the authorities. It did not provide any details about what rules it may have broken but promised to “carry out the requirements of the rectification in strict accordance with related laws and regulations”. The Cyberspace Administration of China, or CAC, which regulates the internet in China, … [Read more...] about Chinese financial news site closed for ‘rectification’
Maurie Backman The Motley Fool Published 10:00 AM EDT Jun 5, 2019 Most people get concerned about money from time to time, especially during periods when unplanned expenses rear their ugly head. But there's a difference between occasionally stressing about money and being perpetually concerned about it. Unfortunately, 25% of Americans fall into the latter category by worrying about money all or most of the time, according to a recently released Gallup poll. If that sounds like you, here are a few important moves to make. 1. Start following a budget Without a budget, you'll have no good way of knowing where your money disappears to month after month. And that can lead you to feel anxious about your personal cash flow. To remedy that, carve out a few hours to set up a budget, either by yourself if you live alone, or with the help of a spouse or partner if you share finances with somebody else. To start, comb through your bank and credit card statements to see what your … [Read more...] about Important moves to make to end financial worries.
Samuel Stebbins 24/7 Wall Street Published 6:46 AM EDT May 7, 2019 Home to just 4% of the world’s population and nearly 25% of global economic activity, the United States is one of the richest countries in the world. Despite the concentration of wealth in the United States, parts of the country have been left behind. In nearly every state, there is at least one town where financial hardship and poverty are the defining characteristics. 24/7 Wall St. reviewed the median annual household income in over 2,600 cities, towns, villages, and Census-designated places to identify the poorest town in every state. Alabama: Selma• Median household income: $24,223 (state: $46,472)• Poverty rate: 38.3% (state: 18.0%)• Median home value: $89,100 (state: $132,100)• Population: 19,176 Selma is the only town in Alabama where over half of all households earn less than $25,000 a year. In Jackson, the second poorest town in the state, the typical household earns just … [Read more...] about Poorest cities in the US face financial hardships and poverty
Daniel B. Kline The Motley Fool Published 10:00 AM EDT Apr 19, 2019 America's teenagers have a lot on their minds. They worry about school, about fitting in, about guns, about the environment, about just figuring out who they really are. But given that for the most part, mom and dad are still paying the bills, you might be surprised at how many of them are already worrying about money and their financial futures. According to a new survey from Junior Achievement and Citizen's Bank, 45% of teens say they're worried they won't be able to afford to live on their own when they reach adulthood, while 47% are worried about paying for college. The study also showed that 40% worry about finding a fulfilling, well-paying job, and 33% are concerned that they don't know enough about how to manage money. "These survey findings show a disconcerting lack of confidence among teens when it comes to achieving financial goals," said Jack Kosakowski, CEO of Junior Achievement USA, in a press … [Read more...] about U.S. teens worry about future financial independence.