The U.S. job market is looking good. The unemployment rate is hovering below the 5% mark, as it has been for more than a year. But not every profession is booming. "In general, it’s a very robust labor market with a lot of widespread growth," says Josh Wright of labor market research firm Economic Modeling Specialists International (EMSI). "A few key sectors are trending up, but some are trending down."
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Here are the facts. Generally speaking, women earn less than men, live longer than men, and often take time out of the workforce to have children and/or to care for an aging parent or sick loved one. The potential consequence of these realities? While most U.S. workers are facing a retirement savings deficit, for women, the effect is compounded: Lower pay translates into reduced Social Security benefits, smaller pensions, and less retirement savings.
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Living the single life no longer is an anomaly: According to the U.S. Census Bureau, nearly 40% of households nationwide are maintained by a single person.1 Being single affects many areas of financial planning, including retirement, financing health care later in life, and other key issues.
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In a move that reinforces the rapid shift in public sentiment regarding same-sex unions, the Supreme Court ruled earlier this year that all marriages -- and "the constellation of benefits" that are linked to marriage -- must be recognized and enforced in all 50 states.
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The latest report on college costs published by the College Board brought some good news: The increases in tuition and fees for the 2014-2015 academic year were lower than the average annual increases in the past 30 years across all sectors included in the study.
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With some $30 trillion poised to change hands over the next several decades from parents and grandparents to so-called Millennials -- those 90-million-plus Americans aged 18 to 33 -- the financial services industry will have its work cut out for it.
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Financial planning is more than just a good idea. Research has consistently shown that people who have financial plans -- and who work with financial advisors -- save and invest far more and are nearly twice as likely to feel on track or ahead of schedule in preparing for major financial goals, such as retirement.While having a financial plan is important for everyone, it is especially so for women.
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The way you divide your investment dollars among stock, bond, and money market investments is known as asset allocation.
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As technology continues to evolve, so too have the skills of cyber-criminals, who have honed their ability to break through firewalls, stealing valuable personal data and funds. What steps can you take to better secure your valuable personal and financial data when banking online?
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If you are retiring soon and looking into your options to start drawing down your savings from your employer-sponsored plan, you may have the opportunity to purchase an annuity. Annuities, simply put, help you ensure that you'll have enough income to last a lifetime.
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