Current:Home > NewsThe Daily Money: Fewer of us are writing wills -InvestSmart Insights
The Daily Money: Fewer of us are writing wills
View
Date:2025-04-25 02:27:13
Good morning! It's Daniel de Visé with your Daily Money.
Fewer of us are writing wills, a new survey says, a finding that suggests Americans are worrying less about mortality as the pandemic fades.
Only 32% of adults reported having a will in 2024, down from 34% in 2023, according to the 2024 Wills and Estate Planning Study from Caring.com, an online senior care platform. The figure had crept steadily upward since 2020.
Estate planners saw a spike in wills and trusts at the pandemic’s peak, a time when many Americans were stuck in their homes and preoccupied with their health. Now the pandemic has eased, and Americans' attention has moved on.
And that's bad news for survivors.
Fed chair talks interest rate cuts
Federal Reserve Chair Jerome Powell said Wednesday that recent high inflation readings don’t “change the overall picture,” suggesting the central bank is still on track to lower its key interest three times this year if price increases continue to ease as expected.
A report Tuesday generally supported the Fed’s plan to chop interest rates, Paul Davidson reports, revealing that job openings were roughly unchanged at 8.8 million in February – below the record 12.2 million in early 2022 but above the pre-pandemic average of about 7 million.
When will the Fed move to lower interest rates?
📰 More stories you shouldn't miss 📰
- More drama in the Truth Social stock offering
- What are Consumer Reports' top cars for 2024?
- Facebook updates its video player
- Important dates for Disney investors
- How to choose a financial adviser
📰 A great read 📰
Here's a recent story that resonated with readers - a greatest hit. Read it again. Read it for the first time. Share it with friends.
In a recent paper, two economists from opposing ideological camps made a provocative case: The federal government should abolish the 401(k) and Individual Retirement Account, the tax-sheltered savings plans that help millions of Americans fund their golden years.
Allowing people to shelter their retirement money from taxes is a policy that largely favors the well-heeled, they said. Congress could use that money, nearly $200 billion a year in lost tax dollars, to shore up the underfunded Social Security program.
Their suggestion created a stir. One social media post has drawn more than 700,000 views.
Are they really going to take away our 401(k)?
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.
Daniel de Visé covers personal finance for USA Today.
veryGood! (23)
Related
- Meta releases AI model to enhance Metaverse experience
- Most populous New Mexico county resumes sheriff’s helicopter operations, months after deadly crash
- Fashionable and utilitarian, the fanny pack rises again. What's behind the renaissance?
- Newly elected progressive Thai lawmaker sentenced to 6 years for defaming monarchy
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- All 3 couples to leave 'Bachelor in Paradise' Season 9 announce breakups days after finale
- Amid outcry over Gaza tactics, videos of soldiers acting maliciously create new headache for Israel
- House panel urges tougher trade rules for China, raising chance of more tariffs if Congress agrees
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Judge vacates murder conviction of Chicago man wrongfully imprisoned for 35 years
Ranking
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Fashionable and utilitarian, the fanny pack rises again. What's behind the renaissance?
- Jennifer Aniston recalls last conversation with 'Friends' co-star Matthew Perry: 'He was happy'
- US to spend $700M on new embassy in Ireland, breaks ground on new embassy in Saudi Arabia
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- Congo and rebel groups agree a 3-day cease-fire ahead of the presidential vote, US says
- Fantasy football Start ‘Em, Sit ‘Em: 15 players to start or sit in Week 15
- It took 23 years, but a 'Chicken Run' sequel has finally hatched
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
Florida fines high school for allowing transgender student to play girls volleyball
Chargers QB Justin Herbert will miss rest of season after undergoing surgery on broken finger
'We will do what's necessary': USA Football CEO wants to dominate flag football in Olympics
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
Horoscopes Today, December 12, 2023
US to spend $700M on new embassy in Ireland, breaks ground on new embassy in Saudi Arabia
'Big Bang Theory' star Kate Micucci reveals lung cancer diagnosis: 'I've never smoked a cigarette'