In the current labor market, young adults are facing significant challenges that are affecting their employment opportunities. A recent report by the Federal Reserve Bank of St. Louis reveals that around 16% of 18- to 24-year-olds are not employed or enrolled in high school or college, earning them the title of “disconnected youth.” These individuals,
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The research conducted by Bank of America indicates that travel spending among American households has surpassed pre-pandemic levels, with a particular surge in international trips. According to economists Taylor Bowley and Joe Wadford, the momentum in travel lies within vacationing abroad, with spending up by 10.6% per household compared to 2019. This trend is further
As the Federal Reserve prepares to lower interest rates, there is a cloud of uncertainty over the U.S. economy. While some experts fear a potential recession, others are hopeful for a smooth transition known as a “soft landing.” For individuals nearing retirement, the outcome of this economic shift holds significant implications. A sudden market decline
As the season of fall foliage and pumpkin spice lattes approaches, so does the idea of a “September surge” in the job market. It is often believed that more job postings become available after Labor Day, signaling the end of a summer slowdown as recruiters and hiring managers return from vacation. However, career experts caution
The concept of auto-enrollment and auto-escalation in 401(k) plans has long been hailed as a game-changer in retirement savings. However, recent research has shed light on the harsh reality behind this seemingly foolproof strategy. The National Bureau of Economic Research published a paper revealing that certain factors, such as workers cashing out their 401(k) balances
Retirees who are concerned about the rising costs of prescription drugs can look forward to some much-needed relief starting in 2025. Beginning in January, Medicare drug plan participants will have their annual out-of-pocket drug costs limited to $2,000. As a result, an average of 1.4 million Medicare Part D enrollees will experience savings of $1,000
When it comes to investing, many people focus solely on asset allocation without paying enough attention to tax implications. Asset allocation involves choosing the right mix of stocks and bonds to balance risk and return. However, where these assets are held in terms of account types can significantly impact after-tax returns, particularly for wealthier investors.
The U.S. Department of Education has recently provided more information regarding the implementation of the new Free Application for Federal Student Aid (FAFSA) for the upcoming year. The 2025-26 FAFSA will be released to select groups of students through beta testing starting on Oct. 1 before being accessible to all students and contributors by Dec.