A notable shift in public opinion over the past decade about the value of a college degree may portend a reckoning for the higher education industry in the years ahead — and for the families who are trying to save for and manage the costs. A 2023 survey found disaffection spreading to all age groups,
1.56 million – Total number of U.S. non-farm employees in July 2023. By comparison, the pre-pandemic high was 152.4 million in February 2020, and the pandemic low was 130.4 million in April 2020. Source: U.S. Bureau of Labor Statistics, 2023 The U.S. economy lost nearly 22 million jobs during the two-month pandemic recession of March–April
The Inflation Reduction Act of 2022 included provisions intended to lower prescription drug costs for Medicare enrollees and slow drug spending by the federal government. According to an estimate by the Congressional Budget Office, the law’s drug pricing reforms could reduce the federal budget deficit by $237 billion over 10 years (2022 to 2031).1 Here’s
In a 2022 survey, consumers were first asked to quickly estimate how much they spend on subscription services each month, then a while later, they were directed to break down and itemize their monthly payments. On average, the consumers’ actual spending was $219 per month, about 2.5 times as much as the $86 they originally
If your employer offers health insurance benefits, one of your options may be a high-deductible health plan (HDHP) with eligibility for a health savings account (HSA). These plans offer potential savings by encouraging you to make cost-effective choices in your medical spending. If you do not have employer-sponsored health coverage, you can choose from a
The Department of Education recently launched the most generous federal student loan income-driven repayment (IDR) plan to date — the Saving on a Valuable Education (SAVE) Plan. The SAVE Plan comes after the U.S. Supreme Court blocked federal student loan cancellation in June and before payments are set to restart in October after more than
A sound retirement plan should be based on your particular circumstances. No one strategy is suitable for everyone. Once you’re retired, your income plan should strive to address four basic objectives: earn a reasonable rate of return, manage the risk of loss, maintain a source of sustainable and predictable income, and reduce the impact of
A financial crisis — such as a job loss or medical emergency — can strike when you least expect it. It is important to be prepared by having a financial safety net in place — not having one could prove to be financially devastating. But bulking up your emergency fund isn’t always easy, especially during
62 % – Share of Americans who said AI will have a major impact on workers generally in the next 20 years. Only 28% believed it will have a major impact on them personally. Source: Pew Research Center, 2023 When U.S. adults were asked about the expanding presence of artificial intelligence (AI) technology in daily
27.7% – Percentage of retirement plan participants making contributions to a Roth 401(k) plan in 2021 Source: Plan Sponsor Council of America, 2022 Roth 401(k) plans can offer an ideal opportunity to build a source of tax-free retirement income. There are no income restrictions to participate, they have much higher contribution limits than Roth IRAs,
