October 2023
Uneven Jobs Recovery
The U.S. economy lost nearly 22 million jobs during the two-month pandemic recession of March–April 2020. The total job count returned to pre-pandemic levels in June 2022, and by July 2023, there were almost 4 million more Americans working than before the pandemic.
June 2023
Education and Earnings
While there is widespread concern about student debt and the cost of higher education, data from the U.S. Bureau of Labor Statistics makes a strong case that higher education leads to higher earnings and lower unemployment rates.
April 2023
IRS Audit Rates Over Time
IRS audit rates for individual income tax returns have fallen since 2010, but this pattern could reverse as the agency ramps up enforcement. The Inflation Reduction Act of 2022 provided the IRS with an influx of about $80 billion to modernize outdated technology and rebuild a depleted workforce.
March 2023
Where Does Your Income Fit?
The IRS processed more than 164 million individual income tax returns for tax year 2020 (most recent full-year data). Almost three out of five returns showed an adjusted gross income (AGI) under $50,000, while a little over 1% showed an AGI of $500,000 or more.
January 2023
Retirement Age Expectations vs. Reality
Workers typically plan to retire much later than the actual age reported by retirees. In the 2022 Retirement Confidence Survey, 65% of workers said they expect to retire at age 65 or older (or never retire), whereas 69% of retirees left the workforce before reaching age 65.
August 2022
Three Decades of College Cost Increases
The typical family uses a combination of income, savings, borrowing, and grants/scholarships to pay for college. Not surprisingly, the largest source of funding — 45% — comes from parents in the form of current income and savings.
March 2022
Three Decades of College Cost Increases
Over the past 30 years, the cost of college tuition, fees, room, and board has increased 85% at private colleges and 111% at public colleges above and beyond the rate of general inflation.
September 2021
401(k) Plan Participation Trends
Contributing to a 401(k) or similar work-sponsored retirement plan is one of the easiest ways to invest for your future.
August 2021
COVID-19 Left the U.S. Travel Industry Reeling
The U.S. travel industry's total economic output plummeted 42% in 2020.
May 2021
IRAs Are Top Tool for Retirement Savings
Individual retirement accounts are the largest pool of U.S. retirement assets, which totaled $33.1 trillion at the end of the third quarter of 2020.
March 2021
Population Peaks
Global population is projected to peak at 9.7 billion in 2064 and decline to 8.8 billion by the end of the century, according to a study from the University of Washington Institute for Health Metrics and Evaluation.
February 2021
Majority of Young Adults Living at Home
In 2020, a record number of 18- to 29-year-olds lived at home with their parents. In July, 52% of young adults were living at home, surpassing the previous high of 48% recorded in 1940 at the end of the Great Depression.
January 2021
Different Inflation Measures, Different Purposes
The inflation measure most often mentioned in the media is the Consumer Price Index for All Urban Consumers(CPI-U), which tracks the average change in prices paid by consumers over time for a fixed basket of goods and services.
December 2020
Spreading Generosity
Americans gave almost $450 billion to charity in 2019, an increase of 4.2% over the previous year. Individuals accounted for more than two-thirds of this amount, followed by contributions from foundations, bequests, and corporations.
October 2020
Sandwich Generation Caregivers Face Many Challenges
Individuals in the "sandwich generation" have the dual responsibility of providing care for an adult — often a parent — while also raising children. Caring for others can be very rewarding, but the day-to-day demands of supporting multiple generations can take a financial, emotional, and physical toll on sandwiched caregivers.
September 2020
Most Large Employer Health Plans Include Telemedicine
Over the past five years, employer enthusiasm for telemedicine benefits has surged. Almost 9 out of 10 large employers now offer employees the opportunity to virtually visit their health-care providers.
December 2018
What Happened to Your Money?
If you don't know what happened to your money during the past year, it's time to find out. December and January are the perfect months to look back at what you earned, saved, and spent, as W-2s, account statements, and other year-end financial summaries roll in.
