Careers and Finance

Advertisement
The most-searched financial planning questions of 2020

The most-searched financial planning questions of 2020

2020 will be known as the year the coronavirus pandemic shook the world, in more ways than just illness. Job loss, stay-at-home mandates and other major changes have had long-term ramifications that are still being felt, even as a vaccine has seemingly put an end to the worst of the pandemic. Because of the year’s hardships, 2020 was a big year for Google searches related to retirement accounts, late-life financial planning, HSAs and more. Check out 10 of the most-searched financial questions for 2020 based data from Google and see if your top money-related inquiries made the list.








The state of compensation in 2021

The state of compensation in 2021

Due to the financial strain of the coronavirus pandemic, 2020 was a revealing year for many in terms of money, income and personal finance habits. Just in time for Financial Literacy Awareness Month in April, Elements Global Services released its 2021 State of Compensation report. Here are some of the key statistics and takeaways from the report along with insights and predictions about the future from Rick Hammell, the founder and CEO of Elements Global Services. (SDI Productions/E+/Getty Images/TNS)









How much the US minimum wage was actually worth the year you were born

How much the US minimum wage was actually worth the year you were born

In 1938, the first federal minimum wage was established at $0.25 an hour across the country. Adjusted for inflation, however, that would only be worth $4.63 an hour today. Cities and states have the option to set their own minimum wages, and currently, 29 states and Washington, D.C., have minimum wages above the current federal rate of $7.25 per hour. However, for states where the federal minimum wage applies, workers are experiencing the longest period in history without an increase in the federal minimum wage. The federal minimum wage was intended to establish "the wages of decent living" for workers across industries, according to President Franklin D. Roosevelt. Despite these intentions, the minimum wage has not guaranteed a living wage for workers for most of its existence. Though the minimum wage has been raised more than 20 times over the decades, it has not kept pace with inflation and the cost of living in many places across the U.S. That means that although wages were generally higher, workers were able to afford less when paid at that rate. This is clear when you adjust the minimum wage each year to February 2021 dollars using the Consumer Price Index. When adjusted for inflation, the "best" the minimum wage has ever been was in 1968. Though it was $1.60 an hour, today, that's the equivalent of more than $12 an hour. Here's what the federal minimum was the year you were born and how much its true value actually was.


This was the average salary the year you entered the workforce

This was the average salary the year you entered the workforce

The average individual American income has increased almost every year over the last half century. But how much it has increased and the shift in its valuation can say a lot about where the economy was and how world events affected how much hard-working Americans actually took home. Click through to learn the average salary each year from 1962 to 2020 as well as how much it’s worth in today’s dollars. Can you remember your salary the year you entered the workforce?
Advertisement