3 To Know: Black Friday, retirement savings and iconic house for sale
1. Black Friday 2022 deals: Should you wait, or start ticking off your holiday shopping list now?
With ads for discounts on items ranging from air pods to cars already filling our mailboxes and TV screens, shoppers might wonder if Black Friday, the traditional kick off to the holiday shopping season, is still the best time to grab the best deals.
But while sales kicked off as far back as early October, the week culminating with Black Friday is still prime time for the deepest discounts, retail watchers say.
“Get ready to shop the Black Friday deals the Sunday or Monday before Thanksgiving,’’ says Kristin McGrath, an editor with the deal-finding and cash back site RetailMeNot. "Being ready gets you the best chance at snagging the lowest prices on popular items before they sell out."
Target began offering weeklong Black Friday deals, as well as daily discounts on particular items, weeks before Halloween. Walmart and other retailers are also already offering bargains. But McGrath says that for the most part, super low doorbusters "are still coming, because retailers know that Black Friday has a huge historic gravitational pull for shoppers and it gets people excited.” – Charisse Jones/USA Today
2. IRS raises 2023 retirement savings cap, but few even hit it. Here's what you can do about it
Most of the news on inflation has been bad, but retirement savers may have been given a silver lining – if they’re savers and if they can afford to take advantage of it.
The IRS lifted last month by a record amount the cap on how much people can sock away in retirement accounts on a tax-deferred basis, mostly because of soaring inflation.
But here's the rub: Only 14% of employees who participate in company retirement plans contributed last year to IRS limits, according to Vanguard.
Add four-decade-high inflation, and 54% of the 1,000 Americans Allianz Life surveyed in September said they've have stopped or reduced retirement savings.
And that's even as people’s expectations rise for how much they need to retire comfortably ($1.25 million now, according to a recent Northwestern Mutual survey, up 20% from last year), people are saving less. – Medora Lee/USA Today
3. Iconic house used to film 'A Christmas Story' is up for sale in Cleveland
This is a plot twist even Ralphie didn't see coming.
The iconic "A Christmas Story" House in Cleveland is up for sale.
The setting for the beloved holiday movie has been transformed into a museum and a bed and breakfast in recent years.
Film buff Brian Jones, who purchased the house for $150,000 on eBay in 2004, announced Monday that he is putting the fictional home of Ralphie Parker, along with the Bumpus House next door, a museum/gift shop across the street and some other nearby lots up for sale.
A large for sale sign is already up outside of the home that comes complete with a "frageelay" leg lamp in the front window.
Jones has spent tens of thousands over the years to restore the home and the surrounding properties to how they appeared in the 1983 movie that was filmed in and around Cleveland.
The famed house was built in 1895 and opened for public tours in 2006 and attracts some 75,000 visitors annually.
The original movie has been in the news recently as a sequel "A Christmas Story Christmas" is coming out on Thursday on HBO Max.
The sequel was filmed in Hungary. – Craig Webb/Staff