Female elementary-school teachers and social workers, for example, make less than their male counterparts, according to a new report.
This post comes from Ruth Mantell at partner site MarketWatch.
It's not news that women earn less than men. But a soon-to-be-released report illustrates a particularly disappointing trend: women earn less than men even in popular woman-dominated jobs.
The Institute for Women's Policy Research crunched government data and found that in each of the 20 most common occupations for women in 2013, women's median weekly earnings for full-time work were less than weekly earnings for men. Within those top 20 jobs, that relationship holds true for occupations with the largest shares of women.
Take elementary- and middle-school teachers, for example.
According to a new financial analysis, the top tenth of the US's 1 percenters make the rest of the 1 percent look like the 99 percent.
This post comes from Peter Coy at partner site Bloomberg Businessweek.
The rallying cry of the Occupy Movement was that the richest 1 percent of Americans is getting richer while the rest of us struggle to get by. That’s not quite right, though. The bottom nine-tenths of the 1 Percent club have about the same slice of the national wealth pie that they had a generation ago.
The gains have accrued almost exclusively to the top tenth of 1 Percenters. The richest 0.1 percent of the American population has rebuilt its share of wealth back to where it was in the Roaring Twenties. And the richest 0.01 percent’s share has grown even more rapidly, quadrupling since the eve of the Reagan Revolution.
These figures come out of a clever analysis by economists Emmanuel Saez of the University of California at Berkeley and Gabriel Zucman of the London School of Economics, who is a visiting professor at Berkeley. The Internal Revenue Service asks about income, not wealth, which is the market value of real estate, stocks, bonds, and other assets. Saez and Zucman were able to deduce wealth by exploiting IRS data going back to when the federal income tax was instituted in 1913.
Money lessons aplenty are tucked in and among all the pow! zap! action of the newest film in the Marvel franchise.
This post comes from Donna Freedman at partner site Money Talks News.
I went to the midnight movie premiere of "Captain America: The Winter Soldier" last Friday and am still reeling from all the explosions and hand-to-hand combat. In a good way.
Despite the comic-book colors and pow! zap! action, "The Winter Soldier" is a smart political thriller with enough modern paranoia to allow both conservatives and liberals to believe the film is talking specifically to them.
Old-fashioned patriot Captain America (Chris Evans) has learned from the Greatest Generation's wartime mistakes. When he views a high-tech weapon that's more doomsday than deterrent, Cap vows never to support a system that emphasizes fear over freedom.
Which brings me to personal finance. The whole point of Money Talks News is that being smart about finances lets you be secure, rather than afraid.
"The Winter Soldier" is no exception. Personal finance themes aplenty are tucked in among the incendiary devices.
Opportunities abound to mix volunteer work with a vacation. The big payoff: helping others.
Sometimes bad stuff happens to good workers. A few belt-tightening tactics will help you hang on until better times return.
This post comes from Donna Freedman at partner site Money Talks News.
Suppose the first thing your boss says tomorrow is, "Sorry, but I'm cutting you back to 28 hours a week." How long before you couldn't pay your bills?
Sometimes bad stuff happens to good workers. No one wants to think about a major income drop, but getting ready now means that you won't be quite as blindsided later on.
Ease the stress of living on minimum wage by drawing on government and other assistance programs. Also, invest in yourself.
Still trying to decide how to protect your credit and your identity? Take a look at these options.
This post comes from Allison Martin at partner site Money Talks News.
Have you been searching for ways to protect your precious credit that you've worked so hard to build, as well as protect your identity from hackers? If so, you've probably read about both credit monitoring and security freezes.
That's particularly true if your credit card information was stolen in one of the major security breaches we've read so much about recently. Perhaps Target or some other retailer has offered you a year of free credit monitoring.
Wondering which route you should take? Let's take a closer look at each of the services and what they entail.
What is credit monitoring?
Credit monitoring is a daily tracking mechanism that immediately alerts you if any activity takes place in your credit files, such as untimely payments, credit limit changes, credit inquiries and the opening of new accounts. At the end of each month or quarter, depending on the service provider, you will receive an activity summary electronically or via snail mail.
The service is reactive in nature because it does not shield you from identity theft.
These mortgages regain popularity despite concerns that many baby boomers are using them to drain their home equity too early, leaving them nothing to fall back on.
This post comes from Marilyn Lewis at partner site Money Talks News.
Reverse mortgages are growing in popularity now that the big baby boom generation is entering its silver years.
A reverse mortgage is a type of loan that lets you borrow some of your home's equity. The twist is, no payments are required until the last surviving borrower dies or sells.
Boomers in financial distress
The new surge in equity borrowing is partly a legacy from the recession, which wounded the boomer generation financially. But even before then, boomers (and nearly half of all American workers) were short on retirement savings.
Reverse mortgage borrowing grew by 20 percent between 2012 and 2013, Reuters says, adding:
Many retirees haven’t saved enough to cover expenses for the rest of their lives. But many of them have one major asset -- a home.
The oldest boomers turn 68 this year. The concern is that many are using reverse mortgages to drain their home equity too early, leaving them nothing to fall back on in 15 or 20 years.
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