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Almost half of Americans don’t know what a 401(k) is, according to a recent poll. <br/><br/>A national survey of 2,000 Americans, evenly split by generation, revealed that 43% of respondents don’t know what a 401(k) is. The survey examined Americans’ financial literacy, commitment to learning and adopting healthy money habits, and feelings regarding their bank accounts and financial futures. <br/><br/>The results revealed a significant lack of confidence among respondents regarding their financial literacy, with only 30% believing they could win a game of personal finance trivia.<br/><br/>And over a third (35%) don’t know what “interest” is in a financial context. <br/><br/>The study, commissioned by Beyond Finance for Financial Practice Week and conducted by OnePoll, revealed that despite these startling knowledge gaps, only two in five respondents (39%) consider themselves more financially literate than others. <br/><br/>Four in 10 Americans (39%) admit they procrastinate when implementing healthy financial habits. Gen Z are most likely to procrastinate (49%) while baby boomers are least likely to procrastinate (22%).<br/><br/>The top reasons respondents cited for postponing personal finance tasks include stress (25%), feeling their financial health is already poor and can’t get any worse (16%) and forgetfulness (13%).<br/><br/>“Unfortunately, avoiding looking at your finances and making healthy changes is incredibly common,” said Dr. Erika Rasure, chief financial wellness advisor of Beyond Finance, which can be overwhelming. Some people tend to neglect taking stock of their financial situation, and others can become nervously consumed by it. There’s a middle ground to take when improving your financial health — learn healthy money habits, pay attention and make small, achievable adjustments to your spending and habits.” <br/><br/>The study revealed the average American typically checks their banking app twice daily. Exactly half of respondents say they feel nervous when opening their banking portal, with Gen Z feeling most uncomfortable (65%). <br/><br/>In comparison, baby boomers feel the most calm (26%) and over a quarter of all respondents avoid signing into their banking apps on a daily basis, at all (26%). <br/><br/>Regarding budgeting habits, eight in ten respondents try to hold themselves accountable to a monthly budget with millennials and baby boomers tying for the best-laid financial plans (81%). <br/><br/>Of those who create a monthly budget, respondents only stick to it 66% of the time on average, with baby boomers exhibiting the highest accountability (76%) and Gen Z deviating the most from their budgets (58%). <br/><br/>For those trying to save money, the most popular strategies include buying on-sale items (53%), using coupons and discount codes (47%), limiting spending on clothing (45%) and shopping at discount stores (42%). <br/><br/>However, a considerable portion of respondents resort to more drastic measures to save money, such as infrequent social outings to bars and restaurants (39%), limited travel or not traveling at all (36%), rarely or never buying coffee at coffee shops (35%) and rarely or never buying gifts (32%).<br/><br/>Notably, 33% of respondents said they never take vacations.<br/><br/>Finances also influence relationships: Nearly four in ten (39%) reported that their or their partner’s unhealthy spending habits have negatively affected their relationship.<br/> <br/>A majority of those in relationships (63%) agreed that learning about personal finance as a couple would increase their chances of improving money habits successfully in the future.<br/><br/>“The first step in a happier financial future is education,” said Dr. Rasure. “The more you know about money and personal finances, the more equipped you’ll be to make better decisions and create a plan to meet your goals. That’s why Financial Practice Week is important. We want to encourage people to learn the money habits and practices they’ve been putting off so they can make progress toward a more stable, optimistic future.” <br/><br/>Survey methodology:<br/>This random double-opt-in survey of U.S. adults split evenly by generation (500 Gen Z, 500 millennials, 500 Gen X, and 500 baby boomers) was commissioned by Beyond Finance between Feb. 16 and Feb. 22, 2024. It was conducted by market research company OnePoll, whose team members are Market Research Society members and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).
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Armand Curet
⏲ 5 minutes 1 second 👁 10K
Armand Curet
⏲ 5 minutes 1 second 👁 4K
The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
⏲ 1:29 👁 9M
Armand Curet
⏲ 5 minutes 52 seconds 👁 10K
Armand Curet
⏲ 5 minutes 42 seconds 👁 1.2K
Discover why an increasing number of US companies are exploring the idea of implementing a four-day workweek to address employee burnout and enhance overall well-being. Join us as we delve into the motivations behind this trend and explore how it could reshape the future of work in America. <br/> <br/> <br/>#USNews #USCompanies #USJobs #USCorporateCompanies #4DayWorkWeek #USEmployees #CorporateJobs #USWorkWeek #Oneindia<br/>~HT.178~PR.274~ED.102~CA.145~
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Federal Hiring Advice
⏲ 19 minutes 26 seconds 👁 14.6K
Armand Curet
⏲ 5 minutes 55 seconds 👁 6.1K
Volkswagen's smallest SUV has been updated both inside and out with all these changes.<br/><br/>Volkswagen is aware of the importance of the SUV segment in our country and especially the growth in the urban SUV segment, whose sales have increased sixfold in the last 10 years. Enter the Volkswagen T-Cross, specially produced in Navarra for all of Europe and updated to be in line with its other siblings. Now the little boy of the family has become more attractive, improved the interior quality and continues to offer ample storage space while combining high-end technologies.<br/><br/>The update makes the German model even more attractive, and we say this not because of its new colors and fun names, but because of the presence of a lighting system with IQ technology. . In this way, the T-Cross will become much more recognizable at night. It can now also reflect light from the rearview mirrors, and the renewed front bumper features new daytime running lights. At the rear, the most notable change is the presence of an illuminated line on the trunk lid, combining the new lights with the X-shaped 3D design.<br/><br/>From inside to outside, the brand has committed to a new design for the instrument panel, which includes an 8-inch central touchscreen (9.2 inches in the R-Line), redesigned air vents and a climate control panel that becomes tactile.<br/><br/>In terms of livability, the T-Cross remains one of the standouts in its segment, as it can fit two adults in the rear seats without any problems, while allowing us plenty of travel in the front seats.<br/><br/>On the other hand, Volkswagen has increased the maximum vertical load capacity of the car from 55 kilos to 75 kilos, and users will now be able to carry bicycles and other objects using the removable trailer hook. The German brand also allows the small SUV to have parking assist, blind spot detector, rear view camera and Travel Assist, Front Assist and Lane Assist systems.<br/><br/>The updated urban SUV, which is on the same platform as Volkswagen Polo, does not bring any changes in its mechanical equipment. As such, DGT's coveted ECO label will continue to persevere on the small SUV, as there are three options available, all petrol and without any electrification. The entry-level engine consists of a three-cylinder block with a displacement of 1.0 liters, delivering 95 horsepower and a maximum torque of 175 Nm, and is connected only to a five-speed manual transmission.<br/><br/>The next step is again 1.0 TSI, but this time it produces 115 HP and 200 Nm and can be paired with a six-speed manual transmission or a seven-speed DSG transmission. The most performing alternative in the range comes from the well-known 1.5 TSI engine with ACT Plus active cylinder management. We are talking about a four-cylinder block that develops 150 HP of power and a maximum torque of 250 Nm, paired with the aforementioned DSG automatic transmission. <br/><br/>Source: https://www.caranddriver.com/es/coches/novedades/a60025248/volkswagen-t-cross-2024/
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Top Discovery
⏲ 22 minutes 22 seconds 👁 66.9K
Nature Discoveries
⏲ 22 minutes 24 seconds 👁 12.3K
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