Matt Richardson

2 weeks ago | cbsnews.com | Melanie Lockert |Matt Richardson

Though inflation has been decreasing, higher costs have had a major impact on the lives of many Americans, including seniors in or approaching retirement. Increased costs, as well as market uncertainty, geopolitical tensions, and other economic fears have many retirees on edge and nervous about what's next. For those who are relying on their investment portfolios, the prospect of a stock market crash can be especially unsettling when time isn't exactly on your side.

2 weeks ago | cbsnews.com | Erin Gobler |Matt Richardson

Retirees are increasingly exploring home equity as a tool to manage their rising costs. While inflation affects all of us, retirees are particularly vulnerable to its effects because of their fixed incomes. However, because many seniors are homeowners, using home equity products could help them tap into their biggest asset.

2 weeks ago | cbsnews.com | Aly J. Yale |Matt Richardson

Interest rates aren't great right now — at least on most consumer borrowing products. If you're a homeowner, though, you actually have access to some of the lowest-rate options around: Home equity loans and home equity lines of credit (HELOCs). Both these options offer fairly affordable interest rates, specifically when compared to high-rate alternatives like personal loans and credit cards. And they're fairly easy to get, as long as you have enough equity built up in your home.

3 weeks ago | cbsnews.com | Angelica Leicht |Matt Richardson

In today's healthcare landscape, even a brief hospital visit can leave behind a mountain of bills. And with insurance not always covering everything — or in some cases, anything — many Americans are left grappling with medical debts they never expected to face. In 2024, about 20 million Americans, or nearly 1 in 12 adults, owed money for medical debt, according to the Survey of Income and Program Participation (SIPP) survey. The impact of this type of debt can be more than financial, though.

3 weeks ago | cbsnews.com | Matt Richardson |Angelica Leicht

"What's the interest-earning potential?" That's the question savers are always asking themselves before putting their money into a specific account type. And the answer, in recent years, was often "substantial." Thanks to the highest inflation rate in decades and, thus, the highest interest rates in more than 20 years to combat it, savers were able to earn upwards of 5% on vehicles like high-yield savings and certificates of deposit (CD) accounts.