In a competitive job market, many individuals, like Kelly Harry, find themselves undervalued and underpaid. The awareness of being underpaid often comes as a shock, much like Harry’s experience when she realized she was making significantly less than her colleague. This situation highlights the importance of understanding one’s market value and advocating for fair compensation.
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In the United States, various financial thresholds are adjusted for inflation each year to assist households in keeping pace with the rising cost of living. These adjustments impact contribution limits to retirement plans, Social Security benefits, federal income tax brackets, and other critical financial areas. However, not all thresholds are inflation-adjusted, causing significant challenges for
In the world of retirement savings, there is a lesser-known strategy that could benefit higher earners looking to maximize tax-free growth. While Roth IRAs offer tax-free advantages, some individuals may earn too much to make direct contributions. This is where mega backdoor Roth conversions come into play, providing an opportunity to sidestep income limits and
In the aftermath of the pandemic, the hiring landscape has undergone significant changes, with lower-earning Americans experiencing strong hiring momentum while higher-income workers are facing a slight decline in demand. According to Vanguard’s recent data analysis, the hire rate for the bottom one-third of workers by income has remained steady at 1.5% since September 2023,
As per research conducted by the Schwartz Center for Economic Policy Analysis, a significant number of individuals over the age of 55 are struggling with unpaid student loan debts. This situation has put their retirement goals at risk, with over 2.2 million older Americans carrying outstanding student loan balances. The data from the Federal Reserve
The Delaware College of Art and Design recently made an announcement that it is set to close its doors due to low enrollment numbers for the upcoming school year. This decision was partially influenced by issues with the new Free Application for Federal Student Aid (FAFSA) form, which has discouraged students from applying for financial
When it comes to claiming Social Security retirement benefits, experts agree that delaying is generally the best strategy. However, despite this advice, many individuals choose to claim their benefits early, either at age 62 or before reaching their full retirement age. Unfortunately, these early claims result in reduced Social Security benefits for the rest of
In recent years, there has been a significant increase in the number of Roth individual retirement account conversions. Data from Fidelity Investments shows a 44% year-over-year growth during the first quarter of 2024. This type of conversion involves transferring pretax or nondeductible individual retirement account funds to a Roth IRA, which offers the benefit of
March 12 typically marks Equal Pay Day, symbolizing the point in the year when women have to work to catch up to what their male counterparts earned in the previous year. This gap in earnings is known as the gender pay gap. For Asian American, Native Hawaiian, and Pacific Islander women, however, Equal Pay Day
As the cost of living continues to rise in the United States, more consumers are turning to alternative forms of credit to make ends meet. One such option that has gained significant popularity in recent years is Buy Now, Pay Later (BNPL) programs. According to a new report by NerdWallet, BNPL loans have become the