Americans struggling financially seek financial advice on improving wealth through changes in expenses and investments.

From Yahoo Finance: 2025-06-18 15:01:00

A Pew Research Center survey found that only 37% of Americans believe their finances will improve in a year, with many struggling to cover medical or housing costs and needing loans from loved ones.

Money expert Jaspreet Singh highlighted the impact of fees on retirement accounts, emphasizing the importance of understanding expense ratios and changing investments for better returns.

Singh recommended cutting major expenses like housing and transportation to save up to $1,000 monthly, allowing for investment and wealth-building opportunities.

Increasing income and cutting expenses go hand in hand for efficient wealth-building, with Singh explaining the long-term impact of getting a $5,000 raise and investing it wisely.

To improve financial security, Singh advised tracking spending, using the 75/15/10 plan, and focusing on smart investing decisions to build wealth effectively.

Taking risks on oneself, whether through investing, pursuing business dreams, or further education, is key to financial success, according to Singh’s advice.



Read more at Yahoo Finance: 5 Most Impactful Financial Changes To Make Today, According to Jaspreet Singh