The Money Section | Gen X has the largest wealth gap of any generation

͏Also, now’s the best time to buy a new car in a while. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [Fort Worth Star-Telegram]( December 20, 2023 • Issue #64 [The Money Section] This week, we’re looking at some of the unique financial challenges Gen X’ers are set to face, why an expert says a 2024 recession could still happen, and why now is the best time to buy a new car since 2021. More Americans 65 and older are working full time. [Older]( Money; Shutterstock New data from the Pew Research Center indicates a significant increase in Americans aged 65 and older participating in the workforce. But that’s not all–Americans 75 and older are the fastest-growing age group. [See which factors are contributing to this trend.]( 🙋 Gen Z women are confident they’ll retire comfortably. Around 59% of Gen Z women believe they’ll be financially prepared for retirement, according to a [new study](. Their openness to asking questions, seeking guidance, and vetting financial information online contribute to their positive attitude toward retirement planning. [Read more.]( 💸 Gen X has the largest wealth gap of any generation. According to the Schroders 2023 U.S. Retirement Survey, Generation X –born between 1965 and 1980– face the largest wealth gap of any generation, making many of them financially unprepared for retirement. [Here are some of the challenges they’re set to face.]( Investment apps have come a long way. [Apps]( Money; Shutterstock As technology has progressed, so have investment apps. Most now offer user-friendly interfaces, diverse tools, and educational resources to help investors at all levels. In fact, the best apps are specific enough to cater to [individual needs and goals.]( 🐂 Wall Street continues its 7-week-long bull run. U.S. stocks experienced a broad but modest rally on Monday, with the S&P 500 and Nasdaq posting solid gains while the Dow remained essentially flat. All of this comes as investors get ready for the possibility of the Federal Reserve to start cutting interest rates in the coming year. [Read more.]( ⚠ Advisor says 2024 recession could still materialize. According to Providence Financial & Insurance Services Founder and President Anthony Saccaro, “We still have an inverted yield curve we can’t forget, inverted by about 50 basis points. And that’s always been a good predictor of recessions.” [Here’s what he recommends doing in this environment.]( Now’s the best time to buy a new car in a long time. [New Car]( Money; Shutterstock The 2023 winter holiday season is considered one of the best times to buy a new vehicle, with the average discount on a new vehicle exceeding $1,000 for the first time since April 2021. [Here’s what you need to know.]( 🏠️ How homebuilders got their groove back. Homebuilder confidence in the market for newly built single-family homes improved in December, reaching 37 on the National Association of Home Builders/Wells Fargo Housing Market Index. See what’s behind the [first increase in builder confidence in four months.]( 📈 Bankruptcy cases are up 30% from last year. High borrowing costs and the withdrawal of pandemic support for struggling companies are contributing to a global increase in corporate bankruptcies, especially in labor-intensive sectors like hospitality, transportation, and retail. [Read more.]( Smart Money Move How to make the most of high interest rates [Savings] [Savings] Interest rates are at a 22-year high, but you can leverage the numbers to your benefit. With the best rates above 5%, high-yield savings accounts provide a chance for significant returns through compound interest. With some accounts offering up to 25x the return compared to regular savings accounts, HYSAs are well-suited for both short- and long-term financial goals. [View our list of High-Yield Savings Accounts to see how much you could earn.]( Stories we're reading this week - [HVAC Repair Costs Are Soaring. Can Home Warranties Help?]( - [Everyone Expected A Recession. The Fed And White House Found A Way Out.]( - [When Are Taxes Due in 2024? Here Are the Deadlines You Need to Know.]( - [Should Financial Literacy Be a Required Course in School?]( - [After a Huge Year for the Markets, Stocks Could Hit All-Time Highs Soon]( - [Which Economy Did Best in 2023?]( - [More Americans Are Optimistic They’ll Get Social Security Benefits When They Retire]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails or newsletters from the Fort Worth Star-Telegram. 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