Hi everyone, for this Thursday we learn about developments with the “Retirement Security and Savings Act”, and what it means for your retirement. China has made its largest cut in U.S. debt holdings. Learn how American Express is acquiring CRM “Resy”, and their plans for utilizing the platform with customers. Gain some personal finance hacks to help you save and spend smarter. And despite rising tuitions, Americans still don’t know about 529 plans.
The Senate held a hearing this week for the “Retirement Security and Savings Act,” which would allow people with little in savings to catch up and also help small businesses provide retirement plans to its workers.
The largest foreign owner of U.S. debt reduced the level by just shy of $20.5 billion, a slight decrease that brought the total holdings down to $1.12 trillion.
American Express has today announced its intentions to acquire Resy, the CRM and reservation platform based out of New York. The terms of the deal were not disclosed.
Spending above a certain level of basic needs/leisure is mostly ego and social climbing. So savings is just a diversion from boosting the appearance of your status today for more productive use tomorrow.
A survey of about 1,000 U.S. adults in April commissioned by Edward Jones found that U.S. residents have actually shown a decline in knowledge about 529 plans: 67 percent of respondents didn’t know anything about the tax-advantaged college-savings plans, up from 62 percent in 2012.