James' World 2

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For the past few months, Wall Street and the investing community have been reminded that stocks can go down, too.

Following the strongest bounce back from a bear market bottom in history, all three major U.S. indexes are, once again, in correction territory. The 125-year-old Dow Jones Industrial Average and benchmark S&P 500 are lower by more than 10%, while the growth-dependent Nasdaq Composite has entered a bear market (i.e., a decline of at least 20%).

While the velocity of stock market declines can be scary at times, especially for the more-volatile Nasdaq Composite, history has shown time and again that buying high-quality stocks during corrections and bear markets is a smart move. After all, every notable decline in the market throughout history has eventually been put into the back seat by a bull market rally.

The big question is: Which stocks to buy on the dip?

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“House poor” is a common expression used to describe people who are wasting too much money on housing, leaving them with too little to spend on everything else. But it can also refer to those who are getting too little housing bang for their buck.

And now, with interest rates on home mortgages spiking faster than they have in decades, it’s getting more expensive by the moment to own a home in the U.S.

As an economist, one of my goals is to make you “house rich,” ensuring you end up with the housing you really want at the price you can really afford.

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The United States is on the brink of a retirement crisis. The primary savings tool for Americans — your 401(k) — isn’t helping.

By the end of the decade, about 21% of the country’s population will be 65 or older, up from 15% in 2016, according to forecasts by the Census Bureau. Most non-retired adults have some type of retirement savings, but only 36% think their savings are on track.

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Now, Congress is looking to help Americans save by bolstering 401(k) programs — the tax-deferred, company-sponsored retirement accounts to which employees can contribute income, and employers can match their contributions.

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A new bill, expected to reach President Joe Biden’s desk by the end of the year, could require most employer-sponsored retirement plans to enroll their workers automatically, making it easier for student-loan borrowers to save, and for older workers to make catch-up contributions. It will also lower costs for smaller businesses.

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