Money

Need some help managing your financial future? Money surveyed more than 1,000 financial planners to arrive at the 80 best, who all earned high marks for qualifications, trust, services and customer service. Check out our list, in partnership with Financial Planning Association (FPA), to help you find a professional to plan your financial life. https://bit.ly/3MVAERC

Two-thirds of managers in the recently released salary guide from Robert Half said they are “willing” to raise starting salaries for remote jobs if new hires are open to working in the office. The potential pay bumps aren’t insignificant, either: 59% say they’ll offer employees up to a 20% salary increase to be onsite 4 to 5 days a week. Job applicants have to weigh the potential salary bump against the higher costs associated with in-office work. One survey from Owl Labs found that working at the office can come at a $5,000 per year premium versus remote work. That sum includes direct expenses such as driving-related costs like gas, vehicle depreciation, tolls, parking and transit fares, as well as other less obvious things like our tendencies to spend more on lunches out with coworkers and increased shopping budgets for work clothes. Would you give up WFH benefits for a 20% salary increase? https://bit.ly/3U8vENU

Boomers, which were born between 1946 and 1964, have now become the “wealthiest generation that has ever lived,” according to a new global wealth report from Allianz. And it doesn’t look like subsequent generations are going to be able to dethrone them anytime soon. How boomers got so rich, Allianz’s analysis shows, has less to do with financial prudence and more to do with the luck of the draw. In the simplest terms, boomers have benefited the most from the economic gains of the past several decades while suffering the least from the financial crises — especially boomers who live in the U.S. As of the end of June, American boomers had accumulated a staggering $80 trillion of wealth, according to Federal Reserve data. That’s more than half of all household wealth in the nation, despite boomers only making up about 20% of the U.S. population. Adam Hardy has the story: https://bit.ly/4gUfJMC

Our Best Banks 2024-2025 list has officially arrived. This year, we're proud to expand our offerings beyond national, online and regional options to include the financial institutions that provide digital investing options as well.

Looking for part-time work over the holiday season? Companies like Amazon, Kohl's, Target and more are starting to hire for seasonal positions. Overall, the hiring demand for holiday workers isn’t as strong now as it was a year or two ago, when the unemployment rate was under 4% and companies were short-staffed going into the busiest season. But there’s still several opportunities out there if you’re interested. Pete Grieve reports ??

Deciding where to bank can feel like a serious commitment. ?? For the 2024 edition of Best Banks, we evaluated more than 275 financial institutions, including national, online and regional banks and credit unions in order to help you find the one that best suits your everyday banking needs. You'll also find special categories for the best banks for students, service members, seniors and more. Check it out: https://lnkd.in/e5HM2wju

Happy World Financial Planning Day! Need a little help figuring out what your financial roadmap should look like? Check out our brand-new list of Best Financial Planners to help you find a professional who can help you plan for the future. https://lnkd.in/gWEyyqWV

When Americans switch jobs, they often see a boost in earnings — but if they're not careful, a common 401(k) mistake can be a major setback for their retirement savings. Job switchers have a tendency to set a lower contribution rate when they start their new roles — and that can be a costly misstep. According to new research from Vanguard, the typical job switcher’s retirement saving rate goes down 0.7 percentage points when changing companies. Over half of job switchers, 55%, lower their saving rate, while 44% increase or maintain it. And while the report acknowledges that changing jobs can involve expenses like moving costs, the Vanguard researchers also blame plans’ default contribution rates, which kick in when an employee forgets or elects not to set a 401(k) rate. They report that 3% is the most common and suggest that needs to be higher. Pete Grieve has more: https://bit.ly/4eMrxPu

FACT CHECK: Rumors are circulating online this week that the government is retiring the $50 bill and that some banks have stopped accepting them as of last month. This is FALSE. Pete Grieve reached out to the Fed and several banks to debunk this claim. https://bit.ly/3ZU3bib

Homebuyers increasingly worried about how natural disasters could affect their properties and budgets will soon get a new tool to help gauge the risk. Zillow announced recently that it will soon include data on potential climate risks in every one of its for-sale listings in the U.S. Prospective buyers will be able to see a risk score, similar to the walk and transit scores currently available, for five types of weather-related phenomena: flood, wildfire, wind, heat and air quality. The new feature will provide historical information detailing if (or when) the property has been affected by a climate event, as well as insurance recommendations specifically tailored to the home. “Climate risks are now a critical factor in home-buying decisions,” wrote Skylar Olsen, Zillow’s chief economist. “Healthy markets are ones where buyers and sellers have access to all relevant data for their decisions.” Leslie Cook reports: https://bit.ly/4eUSVdQ