Once a week, we bring you a Roundup of recent articles on investing, personal finance, and other money-related matters.
We hope you find them informative and helpful!
- Hopes fade for new stimulus checks, federal jobless aid (The Wall Street Journal via MSN). Perhaps not spending hundreds of billions more on COVID relief isn't a bad option (see next item).
- An update to the Budget Outlook: 2020 to 2030 (Congressional Budget Office). Wow. "Federal outlays are projected to equal 32% of GDP in 2020, 11 percentage points (or about 50%) above what they were in 2019.... CBO's estimate of the deficit for 2020 is now $2.2 trillion more than the agency estimated in March 2020 — mostly because of recently enacted legislation."
- Money markets have a $750 billion problem in zero-rate world (Bloomberg via Yahoo). Some "prime" money-market funds, once highly popular with savers, are shutting down.
- The fall real estate market is abnormally hot as mortgage rates break records (Forbes). The average 30-year fixed-rate is at 2.86%, according to Freddie Mac. The 15-year rate is 2.37%.
- One 9/11 tally: $3.3 trillion (The New York Times). Here's an estimate of financial costs related to the 9/11 terrorist attacks, published by the Times nine years ago. Interestingly, some of the figures seem small compared to recent spending on COVID-19.
And from the pundits and bloggers...
- What to do if you don't have a 401(k) (Christine Benz, Morningstar). You do have some good options.
- Why even the best stocks have to crash (Ben Carlson, A Wealth of Common Sense). Something will go wrong. It always does.
- Debtors' prison (Isaac Cathey, Humble Dollar). What one man learned from getting into debt and getting out again.
- Part one: Q&A with Morgan Housel author of The Psychology of Money (Abnormal Returns). Housel is one of today's best financial writers. Part two of the interview is here.
- The 2 costs that can make or break your nest egg (Liz Weston, NerdWallet). The reason many people don't save enough for retirement is they're spending too much on current living expenses.
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