In today’s labor market, young adults are facing significant challenges, with approximately 16% of 18- to 24-year-olds not employed or enrolled in high school or college. This demographic is often referred to as “disconnected youth” or “NEETs.” Many young individuals are opting out of the labor force due to discouragement stemming from their economic situation.
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Travel spending among American households has exceeded pre-pandemic levels, with a particular focus on international trips. Bank of America research indicates that travel momentum is heavily influenced by vacationing abroad, with spending up by 10.6% per household compared to 2019. According to economists Taylor Bowley and Joe Wadford, international travel remains a robust area of
As the Federal Reserve considers cutting interest rates, there is a growing concern among financial experts about the future of the U.S. economy. While some fear a potential recession, others are optimistic that the central bank can navigate the situation effectively and achieve a “soft landing.” This uncertainty is particularly worrisome for individuals who are
Employers have taken a proactive approach towards increasing workers’ 401(k) plan savings by implementing automated strategies. However, recent research has shed light on the actual impact of these initiatives, revealing a more nuanced perspective than previously presumed. Factors such as employees cashing out their 401(k) balances upon leaving a job have been identified as significant
As the season of fall foliage and pumpkin spice lattes approaches, the job market may also be experiencing a shift. Career experts suggest that a “September surge” in job postings occurs as job recruiters and hiring managers return from their summer vacations. This phenomenon is often attributed to the summer slowdown when key decision-makers are
Retirees who have been struggling with the high costs of prescription drugs have something to look forward to starting in 2025. A new report from AARP indicates that Medicare drug plan enrollees will have their annual out-of-pocket drug costs capped at $2,000. This change is expected to bring significant relief to many participants in Medicare
One of the key aspects that many investors overlook is the concept of asset location. While asset allocation is widely understood, asset location – the placement of assets in specific types of accounts – is equally important, especially for wealthier investors. The strategy of asset location aims to minimize taxes, ultimately increasing after-tax returns for
The U.S. Department of Education has released details regarding the rollout of the new Free Application for Federal Student Aid (FAFSA) for the upcoming academic year. The 2025-26 FAFSA will undergo beta testing starting on Oct. 1, with limited groups of students, before being available to all students and contributors on or before Dec. 1.
In a year where the stock market is performing strongly, investors are looking for strategies to efficiently rebalance their portfolios and also save on future taxes. One such strategy, tax-gain harvesting, involves strategically selling profitable assets from your brokerage account during lower-income years. These low-income years could include the early years of retirement or periods
The cost of attending college in the United States has reached alarming levels, with some institutions charging nearly six figures per year. According to data from The Princeton Review, several prestigious schools such as New York University, Tufts, Brown, Yale, and Washington University in St. Louis have sticker prices exceeding $90,000 for the 2024-25 academic