Replies to post #474707 on Tornado Alley (PROG)

[zab]

Nothing like owning your home and car when you retire. I could never understand people who keep taking out credit lines against their homes. Paying off your credit cards also helps.

Nowadays even when you do retire, most corporations have phased out pensions, or most retirement plans.

Stock market is approaching 40,000, I never advise anyone to do anything financially, but there is an election coming up, and thew differences between the two candidates is easy to see.

I am a trader, so I go home in cash almost every night.

[B402]

That chart is telling.....Average consumer carries $6,218 in credit card debt, as more borrowers are falling behind on their payments

CNBC
https://www.msn.com/en-us/money/personalfinance/average-consumer-carries-6218-in-credit-card-debt-as-more-borrowers-are-falling-behind-on-their-payments/ar-BB1mv4z6?ocid=BingNewsSerp

"Rent, when you have it, auto loans, utilities, these are all things consumers prioritize ahead of credit cards," Wise added.

As a result, credit card delinquency rates are higher across the board, the New York Fed and TransUnion found. Over the last year, roughly 8.9% of credit card balances transitioned into delinquency, the New York Fed reported.

According to TransUnion's research, "serious delinquencies," or those 90 days or more past due, reached the highest level since 2010.