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Here’s how many people tapped their retirement plan to buy a house

Here’s how many people tapped their retirement plan to buy a house

Finance
Tony Anderson | DigitalVision | Getty ImagesSome people will do just about anything to buy their first home.Just under 10% of homeowners surveyed by Bankrate.com, a personal finance website, said they took out money from their retirement savings to help cover the down payment and closing costs on their first dwelling.The site polled a total of 2,582 adults from July 31 through Aug. 2.Nearly half saved money specifically toward their home purchase, while another 20% said they received a financial gift from family and friends.The median sales price for a home is $ 320,300, according to the Federal Reserve Bank of St. Louis, which can make the recommended down payment of 20% — what you'll need to avoid the additional cost of private mortgage insurance — a heavy lift for new buyers.Millennials
Many hospital patients get no visitors

Many hospital patients get no visitors

Health
Two-fifths (40%) of patients on UK hospital wards get no visitors, say the NHS nurses who care for them. The Royal Voluntary Service charity commissioned a poll of 200 nurses working in acute hospitals in Britain.As well as being socially isolating, having no visitor to help with the "small" things, such as cutting up food or refilling a water glass, can delay a patient's recovery, the nurses say. They want more people to become volunteer visitors and helpers. Christine Thorne, 37, volunteers at the Aberdeen Royal Infirmary: "My dad spent time in hospital before he passed away and it was primarily only my brother and I who visited him. It makes me sad to think there are people in hospital with no-one at all to come and see them. Hospitals can be a scary ...
Too many hooked on prescription drugs – health chiefs

Too many hooked on prescription drugs – health chiefs

Health
Hundreds of thousands of people in England are getting hooked on prescription drugs, health chiefs fear.A Public Health England review looked at the use of strong painkillers, antidepressants and sleeping tablets - used by a quarter of adults every year.It found that at the end of March 2018 half of people using these drugs had been on them for at least 12 months.Officials said long-term use on such a scale could not be justified and was a sign of patients becoming dependent.PHE medical director Prof Paul Cosford said he was worried."These medicines have many vital clinical uses and can make a big difference to people's quality of life."But he added there were too many cases where patients were using them for longer than "clinically" appropriate - where t...
Many minorities avoid seeking credit due to generations of discrimination. Why that keeps them back

Many minorities avoid seeking credit due to generations of discrimination. Why that keeps them back

Finance
Image Source | DigitalVision | Getty ImagesFor many minorities in America, it's an all too familiar scene.An applicant who is a person of color and and applies for credit is either denied or gets much worse terms than a white borrower.In fact, an investigation by the National Fair Housing Alliance, a Washington D.C.-based nonprofit, found that 60% of the time, applicants who were people of color — and way more financially qualified than their white counterparts —nevertheless were offered higher-priced car loans, costing them an extra $ 2,662 each over the course of the loan. Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) joined forces in May to introduce the Loan Shark Prevention Act to "combat the predatory lending practices of America's big banks and protect
Money stress traps many women into staying in unhappy marriages

Money stress traps many women into staying in unhappy marriages

Finance
sarahwolfephotography | Moment | Getty ImagesFor many women, financial security is one of the biggest considerations that factor in when deciding whether to stay in an unhappy marriage or divorce. As a result, a significantly large number of women stay in marriages that are unhealthy and even border on dysfunctional.Various studies show that women are typically more stressed about money than men. According to PricewaterhouseCoopers' 2019 Employee Financial Wellness Survey, 65% of women and 52% of men said that financial matters cause them the most stress. Money is a top cause of stress for Americans, in general. "For many, talking about money is more difficult than talking about sex — even in the therapy room," claims New York-based therapist Ann Springer. According to the American Psychol