- Clark.com Daily Newsletter
- Posts
- Spend your IRA money before you die (4 29 24)
Spend your IRA money before you die (4 29 24)
Today’s Sponsor
Are you working too much? Find out more about the average work ethic later on in this email.
💵 Today’s Top Stories
 | Families no longer can stash wealth in an IRA and keep it for generations without paying taxes. Here’s why inheriting an IRA has become a migraine-level headache. Read more. |
 | Did you know you can go through Costco to get auto insurance? Here’s how it compares to the overall market and whether you should look into switching. Read more. |
 | Clark prefers credit cards to debit cards and especially peer-to-peer payment apps like Zelle. But there is a way to make PayPal, Venmo and CashApp safe to use. Read more. |
 | Our top picks for family plans start at just $9. Here are the top six options (plus a few honorable mentions) for family packages based on our research of more than 70 plans. Read more. |
👷 America: Average Work Ethic?
Working hard or hardly working?
The average number of hours worked varies greatly by country according to OECD data.
Score one for the men and women in red, white and blue. The Financial Times (FT) recently highlighted the CEO of Norway’s sovereign wealth fund.
He apparently told FT “that there is a difference in ‘the general level of ambition’ and that ‘the Americans just work harder.’”
That’s true at least for Western Europe.
Only Germany (410 hours less than average) and Denmark (380 hours less than average) work less than Norway among member nations, barely edging out Netherlands, Sweden and Austria.
While the U.S. exceeded the average working time by 59 hours a year, it did not place in the top 10. You’ll have to go to Central and South America for that:
Colombia*
Mexico: +475
Costa Rica: +397
Chile: +211
Korea: +149
Israel: +140
Greece: +134
Malta: +130
Russia: +122
Cyprus: +85
*Data interrupted; most recent number in 2021 equaled about 650 more hours than average.
🏠️ Today’s Current Mortgage Rates
According to Freddie Mac, 30-year mortgage rates are 7.17% and 15-year rates are 6.44% as of April 25, 2024. The following chart shows the 30-year mortgage rate trend over the last year.
📊 Stat of the Day
🎓️ $98,426: The all-in yearly cost for a recently-admitted Vanderbilt University engineering student. The New York Times cited the student as an example of the absurdity of college costs, although the majority of students avoid paying full price.
💰️ Deal Alert: Today’s Top Deals
 |
 |
🎙️ Podcast
It’s time for "Clark Stinks!" Christa reads the latest "Clark Stinks!" submissions and Clark responds. Also, an old deal is making a comeback for cruisers. Clark explains how it works and what he does to save money on a cruise booking.
☎️ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
Sponsor
Did You Enjoy Today’s Newsletter?Let us know what you think so we can better serve you! |