Though we all wish our cars and homes would always work perfectly, unexpected repairs on the things we use every day are just a fact of life. Whether you lease or own your car, upwards of 70% of drivers report being in one or more accidents throughout their driving history. And about 1 in 20...
Job loss: Though it’s likely to happen to everyone at some point, periods of unemployment can be some of the most difficult, anxiety-inducing financial moments many of us will ever encounter. For most Americans, the majority of income each year comes from earned wages and salary. Without a strong plan in place, losing that income...
When it comes to unexpected expenses, medical bills are among the most common. Whether it’s a broken arm at the playground or a long-term illness, just one visit to the ER or a specialist can cost you thousands of dollars – even if you’re insured. Arbor has been publishing a series on the importance of...
In our last blog, you read about the importance of establishing a financial first aid kit. Financial emergencies – just like medical ones – can happen at any time, and it’s important to have a “first aid kit” of savings, plans, and people that can help you come out the other side of financial burdens....
The millennial generation – or today’s 30- and 40-year-olds – are facing a financial crisis. From the Great Recession to the COVID-19 pandemic, they’ve faced plenty of financial tumult – and it shows. When it comes to accumulating wealth, millennials are trailing 10 times behind their parents’ generation. And that wealth gap becomes a big...
You may have heard about the financial crisis facing the millennial generation, or today’s 30- and 40-year-olds. They’re lagging far behind their parents’ generation in accumulating wealth – in fact, they have ten times less in savings on average. That gap is a large reason why millennials struggle to pay down debt, buy a home,...
When it comes to accumulating wealth, the millennial generation – today’s 30-40-year-olds – are lagging far behind older Americans. While millennials’ median debt levels are far higher than their parents’ generation, they’re trailing in income and wealth, making it harder for them to save for the big financial milestones in life. One of those milestones...
For many generations of Americans, becoming a homeowner feels like one major step towards “making it”. Long considered a cornerstone of the American Dream, homeownership is still widely a symbol of financial stability and success. But today, research shows that the millennial generation – today’s 30-40-year-olds – are lagging far behind previous generations in accumulating...
Many Americans grew up hearing their parents talk about a similar dream: “I hope you do better than me.” Whether that meant obtaining higher education or leaving behind more for their kids, many generations of Americans were able to fulfill that aspiration and “do better” than their parents – until today. Research shows that today’s...
With the rise of mobile payment and investing apps, many first-time investors are choosing to enter the stock market a new way: via phone. Apps like Robinhood and Acorns are exploding in popularity, offering stock trading from mobile apps. To many young people – especially new investors – these apps seem like a quick way...
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