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Affluent Americans Are Driving US Economy, Likely Delaying Need For Fed Rate Cuts

WASHINGTON (AP) — Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year to neolithic sites in Great Britain. “I really have more money to spend now than when I was working,” said Harris, 64, an engineer who worked 29 years for the federal government and lives in Albuquerque, New Mexico. Back then, she and her now-ex-husband were ...

Avelo Airlines CEO Describes The Challenges Of Starting A New Carrier

It’s not easy to break into the U.S. airline industry, which is dominated by four big carriers and a sprinkling of other niche players, but that didn’t scare away Andrew Levy. Neither did a pandemic that briefly caused air travel to plummet more than 90%. In April 2021, while COVID-19 still raged and billions of dollars from taxpayers were propping up big airlines, Levy launched Avelo Airlines with flights between Burbank, California, and Las Vegas. The airline saves money by flying older Boeing 737 jets that can be bought at relatively low prices. It operates out of ...

‘A Great Ally’

LAKEWOOD - In celebration of his new title, The Secret Lives of Booksellers and Librarians, best-selling author James Patterson has selected 500 booksellers across the country to award a $500 bonus to. One of those booksellers is Bob Lingle, owner and operator of Good Neighbor Bookstore ...

TRC Holds Event To Honor Longtime Employees

The contributions of more than 150 people were recognized when The Resource Center held its annual Employee Service Recognition Luncheon. The event, held at the Chautauqua Harbor Hotel in Celoron, honored employees and members of the board of directors who, during 2023, reached milestone ...

Millennial Money: How Couples Can Share The Mental Load Of Money Management

NEW YORK (AP) — A lot of work goes into making a household run smoothly, and the thread that runs through all the labor is money. It’s money that makes it possible to fix a broken appliance, enroll the kids in summer camp and save up to replace the aging car. The mental load of money can be heavy. It’s made up of those endless invisible tasks we engage in, and the future tasks we lie awake at night thinking about. “I think it is important to mention the emotional weight that comes with worrying about money. Do we have enough for rent next month? Are we saving enough for ...

Rise In All-Cash Transactions Helping Drive Price Gains For Most Expensive US Homes

LOS ANGELES — Well-heeled home shoppers are increasingly paying cash, helping turbo-charge price gains for the most expensive U.S. homes. The median sale price of luxury homes, or those valued in the top 5% of the market nationally, hit an all-time high $1.23 million in the first quarter, an increase of 8.7% from the same period last year, according to an analysis by Redfin. By comparison, the median sale price of non-luxury homes, or those in the middle-third of the market based on their estimated value, rose 4.6% from a year ago to $345,000, according to the report. Redfin ...