Born at the Right Place, Right Time

Washington — What are your odds of being a millionaire, do you think? One in 10? One in 50? One in 100? If you’re over 62, your odds of having at least $1 million in net wealth (your total assets minus your total debt) are relatively achievable — about 1 in 7. But if you are under 40, your odds are low: 1 in 55. In the last 25 years, the odds that an old person is a millionaire have improved slightly. But for young people, they have...

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Online Shoppers Browse More, Buy Less

Washington — It’s only getting harder for retailers to close the deal with online shoppers. A new report has found that customers are leaving retailers’ websites more frequently without buying anything and, when they do open their wallets, they are spending less on average per order. The findings come as retailers have been pouring money into adapting their sites to appeal to customer’s fast-evolving digital preferences, and they may...

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5 Homebuying Tips From Dad

It was a different world when Dad bought his first home. But oddly enough, a lot of his homebuying advice (unlike his socks-and-sandals choice) is back in fashion. Putting up a sizable down payment, holding back some cash reserves in the bank, and shopping smart so you can get the best deal on a home loan? You’ll make the old man proud. Here are five homebuying tips from Dad that will serve you (and him) just as well in today’s...

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Most Paychecks Have Yet to Feel The Recovery

The winter of our jobs discontent is over, and the recovery is back to chugging along like it was before. That’s the good and bad news. Before we get to it, though, let’s rewind a little bit. At the end of last year, it looked like the recovery was finally starting to hit a higher gear when it added an average of 324,000 jobs a month. But just as this had begun, it was over. The stronger dollar made our exports less competitive, and...

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More Spent Dining Out Than at Grocery Stores

Washington — Pass the menu, hold the shopping cart. Grocery stores are finding it harder to make headway with shoppers as a surge in spending at restaurants over the past several months signals Americans are more likely to ditch the brown bags in favor of doggy bags. Sales at restaurants and bars overtook spending at grocery stores in March for the first time ever, according to Commerce Department data released last week that dates to...

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