As the labor market gradually cools down, job seekers are facing increased competition when looking for new opportunities. Despite this, Chief Economist, Julia Pollak from ZipRecruiter, emphasizes that there are still openings available and encourages individuals not to lose hope, assuring them that it is still a strong labor market. The U.S. Bureau of Labor
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Vacation time is a crucial aspect of maintaining a healthy work-life balance. While Americans value having paid time off, many fail to utilize it fully. Elizabeth Grace Saunders, a time management coach, emphasizes the importance of honoring our need for rest and rejuvenation. Humans are not machines and require time away from work to stay
Recently, the average 401(k) plan savings rate has reached a record high of 14.2%, including contributions from both employees and companies. This rate is getting closer to the recommended 15% benchmark set by Fidelity. The firm estimates that saving at least 15% of your income for retirement is crucial to maintaining your current lifestyle after
In recent years, a new trend has emerged on social media platforms like TikTok, known as Financial TikTok or FinTok. This trend has gained significant popularity among Generation Z, who are turning to social media for financial advice and information rather than traditional sources like professional advisors. According to the CFA Institute, Gen Zers are
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.
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