Gen Z workers who are saving for retirement saw their 401(k)s grow faster than millennials’ did last quarter, while Gen X topped baby boomers on another milestone, according to data from Fidelity. In an analysis of its 23.3 million 401(k) participants at the end of the first quarter, Fidelity said Thursday that the average balance for Gen Z increased 15% from the fourth quarter to $11,300, compared to an 11% increase to $59,800 for millennials. Across all generations, the average balance rose 6% to $125,900. That suggests Gen X’s average of balance of $178,500 and boomers’ $241,200 didn’t grow as…
Author: insighter
There was a good deal of divergence this week as higher bond yields on a hotter-than-expected reading on manufacturing activity slammed the economically sensitive Dow Jones Industrial Average , while an incredible quarter from Nvidia powered the Nasdaq . The S & P 500 , which leans more tech than the Dow and less tech than the Nasdaq, was stuck in the middle. At the S & P 500 sector level, only information technology and communication services finished higher on the week. Tech gained more than 3% — again, thank you Nvidia. On the flip side, energy led to the…
The proposed settlement of a federal class-action antitrust lawsuit that has been approved by the NCAA and major college conferences would cost billions and pave the way for college athletes to get a cut of the revenue that has been flowing to their schools for years. A judge must still accept the proposal, which can also be challenged by individual plaintiffs, and there are many questions about how this will work and whether it can withstand future legal scrutiny. But college sports is clearly pointed toward a revolutionary path that could have some of the wealthiest schools directly paying athletes to participate.…
Avid traveler Lora Bowler is cutting back on vacation spending. That doesn’t mean she’s skipping the resort.The New York resident said she spent more in 2023 than she had expected to, including on travel, and is now reining in her expenses. She uses travel hacks and benefits to cut some of the cost, and she’s part of a growing number of people turning to hotel day passes as a cheaper option for relaxation.”It’s like a neat way to escape and feel like you’re at a five-star hotel,” Bowler said, “but you can’t afford to stay.”Day passes at hotels and resorts…
Dr. Joshua Bederson places Precision Neuroscience’s electrodes onto a brain.Ashley CapootAs the lights dimmed in an operating room at The Mount Sinai Hospital in New York City, Dr. Joshua Bederson prepared to make history.Bederson, system chair for the Department of Neurosurgery at Mount Sinai Health System, is no stranger to long hours in an operating room. The former competitive gymnast has completed more than 6,500 procedures in his career, and he said he visualizes the steps for each one as if he’s rehearsing for a routine. On this particular morning in April, Bederson was readying for a meningioma resection case, which…
After a four-week internal investigation at $14 billion electronics manufacturer Jabil Inc., CEO Kenneth “Kenny” Wilson has abruptly resigned just after passing his one-year anniversary at the helm of one of the chief suppliers to Apple, Cisco, and General Motors. In exiting the CEO role last week, Wilson agreed to a set of restrictive covenants with one strikingly unusual provision: He’s banned from speaking to the media other than to say, “no comment,” according to his separation agreement. Wilson was also required to give the company a sworn written statement before his formal departure on May 18, but Jabil redacted…
United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023.Andi Rice | Bloomberg | Getty ImagesDETROIT – The United Auto Workers union is challenging the results of last week’s organizing vote of Mercedes-Benz workers in Alabama, in which workers voted against union representation, and is asking federal officials to order a new election.Among a dozen or so claims, the Detroit union alleges that the German automaker fired four pro-union workers, forced workers to attend anti-union meetings, and interfered with workers’ ability to advocate for…
American Airlines has replaced the law firm that told a judge a 9-year-old girl was negligent in not noticing there was a camera phone taped to the seat in an airplane lavatory. An airline spokesperson confirmed Friday that the Wilson Elser law firm is no longer defending American in a lawsuit filed by the girl’s family. American retained Kelly Hart & Hallman, a Fort Worth-based firm that has done extensive work for American in other matters. The change in lawyers came after Wilson Elser said in a court document that any harm to the girl could be blamed on her “fault and…
Nearly two-and-a-half years after its launch, Truth Social is struggling to hang onto its small U.S. user base, according to new data on the microblogging platform launched by former President Donald Trump’s media company.So far in May, U.S. daily visits to Truth Social have dropped more than 21% from April, and more than 35% compared to March, according to digital intelligence platform Similarweb.The site’s average number of monthly visits over the past year — just over 4 million from May 2023 to April 2024 — plummeted more than 39% from the prior 12-month period, from May 2022 to April 2023,…
There are many types of travel insurance, including plans that’ll reimburse you for emergency medical expenses or unexpected travel delays. Along with coverage types, there are also different durations of travel insurance. Single trip travel insurance will cover you during one vacation, while multitrip or annual travel insurance can last for multiple outings. Let’s take a look at single trip travel insurance, what kind of coverage you can expect and how to choose a plan that works for you. How single trip travel insurance worksPurchasing a travel insurance plan is fairly simple, as is making a claim. It generally goes…
The families of a group of victims from the Uvalde school shooting announced new lawsuits Friday against Instagram parent company Meta Platforms, the maker of the video game “Call of Duty” and the gun company that made the assault rifle used in the shooting. The lawsuits against Meta, Activision and Daniel Defense were announced on the two-year anniversary of the attack on Robb Elementary School. They accuse the companies of partnering to promote and create content designed to glorify combat, gun violence and killing that effectively trained the teenage shooter before he killed 19 students and two teachers in one of the…
More U.S. consumers may need help managing their credit card payments. Roughly 6.9% of credit card users were in serious delinquency in the first quarter of 2024 — the highest rate since historic lows in 2021 — according to the Federal Reserve’s latest quarterly report on household debt and credit, released May 14. If you’re behind on your credit card payments and looking for a solution, you might be considering debt settlement, which promises to help clear your debts. However, debt settlement is risky and should be a last resort for most borrowers. How does debt settlement work?Debt settlement is…