29% – Families who appealed to their college for more financial aid due to the pandemic. Of the families who appealed for more aid, 71% received additional aid, with 52% receiving a higher grant amount. Source: How America Pays for College, 2021, Sallie Mae For many high school seniors and their families, the period of
As measured by the Consumer Price Index for food at home, grocery prices increased 3.4% in 2020, a faster rate than the 20-year historical average of 2.4%.1 More recently, food inflation accelerated by 6.5% during the 12 months ending in December 2021, while prices for the category that includes meat, poultry, fish, and eggs spiked
The COVID-19 recession and the continuing pandemic pushed many older workers into retirement earlier than they had anticipated. A little more than 50% of Americans age 55 and older said they were retired in Q3 2021, up from about 48% two years earlier, before the pandemic.1 For people age 62 and older, retiring from the
After the wild ride of 2020, the U.S. stock market was relatively calm in 2021, but there was still plenty of volatility. There were 55 days when the S&P 500 index — generally considered representative of U.S. stocks — closed with a rise or fall of 1% or more from the previous day’s closing price.
$1,657 – Average monthly Social Security benefit for retired workers after the 2022 COLA. It was $1,565 before the COLA, an increase of $92 per month. Source: Social Security Administration, 2021 The Social Security cost-of-living adjustment (COLA) for 2022 is 5.9%, the largest increase since 1983. The COLA applies to December 2021 benefits, payable in
Here are some things to consider as you weigh potential tax moves before the end of the year. Defer Income to Next Year Consider opportunities to defer income to 2022, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a year-end bonus or
Women who worked full-time earned just 82 cents for every dollar earned by men in 2020. Women also earned less than men in almost all of the 350 occupations tracked by the Bureau of Labor Statistics. More women work in lower-paid industries than men, and even women in higher-paying fields tend to have fewer years
The COVID-19 economic crisis tested the mettle of all Americans, particularly working mothers. Research shows that the pandemic’s impacts on women have been far-reaching and potentially long-lasting. Now that the U.S. economy is picking up steam, it may be more important than ever for women to re-examine their retirement planning strategies. Effects of the COVID-19
The opportunity to acquire company stock — inside or outside a workplace retirement plan — can be a lucrative employee benefit. Your compensation may include stock options or bonuses paid in company stock. Shares may be offered at a discount through an employee stock purchase plan and held in a taxable account, or company stock
During March 2021, the widening availability of COVID-19 vaccinations, signs of improving economic conditions, and a third, $1.9 trillion stimulus package brought about more optimistic growth projections. Even though a healthy economy could be good news for many businesses and the financial markets, rising inflation expectations caused a multi-week sell-off in U.S. government bonds that
