$24.2 trillion – Projected national debt at the end of 2022, equivalent to about 98% of gross domestic product (GDP). By 2032, the national debt, which represents the accumulation of past budget deficits, is projected to be $40.2 trillion, almost 110% of GDP — the largest percentage on record. Source: Congressional Budget Office, May 2022
Throughout your life, your financial needs will change and life insurance can help you meet some of those needs. But how much life insurance do you need? There are a number of approaches to help determine how much life insurance you should have. Here are three of those methods. Family Needs Approach With this approach,
21 – This is the average number of investment funds offered in 401(k) and profit-sharing plans in 2020 Source: Plan Sponsor Council of America, 2021 Created in 1996, National 401(k) Day has historically been celebrated on the Friday following Labor Day to shine a spotlight on this important employee benefit. Since the late 1990s, plans
Index funds, which try to match the performance of a particular market index, have drawn increasing interest from investors, but traditional actively managed funds still hold more assets (see chart). There is ongoing discussion in the financial media about which approach is most effective, but there may be good reasons to hold both in a
The CHIPs and Science Act of 2022, signed into law on August 9, is a bipartisan legislation package that provides more than $50 billion in direct financial assistance for semiconductor companies to increase U.S.-based design, research, and manufacturing capabilities. In addition, the legislation authorizes nearly $170 billion in federal funding over five years for research
COVID-19 kicked off a severe labor shortage — and the most challenging hiring conditions for businesses in many years. In August 2022, 49% of small businesses reported having job openings they could not fill.1 Many owners have had to turn away orders (and revenue), disappoint customers, or work 80-hour weeks to help fill the labor
In a September 2021 survey, 16% of U.S. adults said they had invested in, traded, or used cryptocurrency. This compares with just 1% in a 2015 survey that focused on Bitcoin, the oldest broadly available cryptocurrency.1 Today, there are more than 19,000 crypto assets, including cryptocurrencies, stablecoins, and digital tokens.2 Cryptocurrency — often simply called
Inflation, roller-coaster markets, global events, and life circumstances can test anyone’s fortitude. You may not feel ready to handle these pressure-filled times and might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience you need to help handle the turbulence and hopefully emerge even stronger. Focus
Young adults have more access to health insurance coverage than ever before.1 However, despite these gains, they also have some of the highest uninsured rates of any age group in the United States.2 Having adequate health insurance is critical, even if you are young and healthy. Without it, getting hurt or sick could result in
A non-fungible token — or NFT — is a unique digital asset verified by blockchain, the underlying record-keeping technology used to authenticate its originality and ownership. Blockchain was initially invented for the exchange of Bitcoin, the first cryptocurrency. The market is growing fast NFTs are credited with helping artists, musicians, and digital media companies to
