In December 2007, employment peaked and started to head south – for two long years. What followed: The loss of more than 8 million jobs, half the value of the Dow and the S&P 500, and trillions of dollars in retirement accounts and household wealth. Lives and businesses were ruined and whole neighborhoods emptied out, as banks took back homes bought on badly underwritten credit. A decade later, the American economy has recovered in many ways. Employers have been steadily adding jobs since early 2010, the stock market is booming and home prices have reached new all-time highs. But in…
Archive for the ‘Back to School’ Category
Millennials are saving more for retirement
Posted on November 10, 2017 by Laura Lam
In the race to save for retirement, one group is doing surprisingly well: millennial parents. That’s according to a new NerdWallet survey, which found that 38% of millennial parents (ages 18-34) save more than 15% of their income for retirement. All told, millennial parents reported a median retirement savings rate of 10% of income, compared with 8% for Generation X parents (ages 35-54) and just 5% for baby boomer parents (ages 55+). Given the picture typically painted of this age group, you might be shouting “fake news” right now. There’s one caveat: The results include only those currently saving for…
The Top 10 Careers for First-Time Home Buyers
Posted on May 26, 2017 by Laura Lam
Although home prices continue to rise, one degree stands above the rest as being the best for those who wish to buy at home closer to the start of their career. Of the top 26 degrees that would allow graduates to purchase a home in four years, 22 of them involve engineering, according to a recent study from Realtor.com. The top degree enables buyers to purchase a home within 2.5 years of graduation. “When it comes to homeownership, degrees in engineering really pay off,” realtor.com Senior Economist Joe Kirchner said. “It shows just how powerful a high starting salary can…