Personal
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The Advantages of Early Investing for Gen Z
Gen Z is making a significant impact in the world of investing by beginning their financial journey at a much younger age compared to previous generations. According to the 2024 Schwab Modern Wealth Survey, Gen Z adults typically start investing and saving at the age of 19, which is a distinct advantage over baby boomers…
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The Impending Tax Increase in 2025: What You Need to Know
As the election season approaches, there is a significant concern over the expiration of trillions in tax breaks that were introduced through the Tax Cuts and Jobs Act of 2017 (TCJA). These tax breaks have been instrumental in reducing taxes for most Americans, especially those in lower federal income brackets. With the scheduled sunsets of…
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Maximizing Tax Savings in a Year of Lower Income
In the current job market, some job seekers are encountering heightened competition. Nevertheless, the prospect of extended unemployment and reduced income for the year 2024 could present an opportunity for strategic tax planning. According to certified financial planner Jaime Quinones of Stockade Wealth Management in Marlboro, New Jersey, one potential benefit of a job layoff…
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The Pitfalls of Mega Backdoor Roth Conversions: Common Mistakes and Strategies
Mega backdoor Roth conversions are often touted as a powerful tool for boosting tax-free retirement savings. However, experts warn that this strategy is not suitable for all investors and that mistakes are common. While the concept of after-tax 401(k) contributions being shifted to Roth accounts sounds appealing, there are several pitfalls that investors need to…
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The Importance of Taking Vacation Time
Many American workers find it challenging to take the vacation time they are entitled to. Surprisingly, a report from the Pew Research Center in 2023 revealed that 46% of workers do not utilize all their available vacation time. This raises concerns about the high percentage of individuals not taking time off despite acknowledging its importance.…
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The Art of Negotiating your Salary: How to Avoid Being Underpaid
Early in her career, Kelly Harry found herself in a situation where she felt severely underpaid. Working as an account executive in ad sales in New York City, Harry was making $40,000 a year when she discovered that her co-worker was earning almost triple her salary at $102,000. It was in that moment that Harry…
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The Rise of Financial TikTok: Are the Trends Actually Helping or Hurting Your Wallet?
Financial TikTok, also known as #FinTok, has exploded in popularity, especially among Generation Z. This generation, born between 1997 and 2012, has shown a strong preference for obtaining financial information online rather than seeking advice from traditional financial advisors. According to the CFA Institute, Gen Zers are nearly five times more likely than adults in…
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Examining the Impact of Buy Now, Pay Later Programs on Consumer Debt
In a world where consumer debt has reached an overwhelming $17.5 trillion, it is crucial to examine the various forms of financing that contribute to this staggering figure. One particular type of payment structure that has gained popularity is the buy now, pay later (BNPL) programs. These programs, which often do not show up on…
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The Persistent Gender Pay Gap for AAPI Women in the US
March 12 is known as equal pay day in the US, highlighting the significant disparity in pay between men and women. For Asian American, Native Hawaiian and Pacific Islander (AAPI) women, this day comes much later, on April 3. The gender pay gap for AAPI women compared to white men is a pressing issue that…
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Analysis of the Current Hiring Trends in the U.S. Job Market
In recent months, the pace of hiring for lower-earning Americans has remained strong, staying above its pre-pandemic baseline, according to the latest data from Vanguard. The hire rate for workers in the bottom one-third of income earners, those making less than $55,000 annually, stood at 1.5% in March. This rate has been relatively stable since…