When looking at saving some of their hard-earned money, Millennials may want to consider Roth IRAs as their new BFF.
The difference between Roth and traditional IRAs or workplace 401(k) plans is that Roth money is tax-free in retirement. Even as the account grows over the years, helped in large part by compound interest, the original contributions can be withdrawn at any time, for any reason, with no taxes or penalties assessed.
“Roth contributions are made with after-tax dollars, but those in their 20s or 30s are probably in a lower tax bracket now than they will be later in life when their salaries are higher,” explains Melissa Ridolfi, vice president for retirement and college leadership at Fidelity Investments. “So not only would they likely be minimizing their lifetime tax bill, but they’d also have tremendous flexibility.”
In fact, it’s the flexibility of Roth IRAs over the shorter term – and what that can mean for two of Millennials’ most pressing issues – that doesn’t always get the attention it deserves:
• Buying a home. The homeownership rate among Millennials, age 25 to 34, is about 8 percent lower than that of Gen Xers and Baby Boomers at the same point in their lives, according to CNBC. As Tamara Sims, a research scientist at the Stanford Center on Longevity, told the network: “Buying a home at age 50 or 60 isn’t going to do you much good in funding a 30-year retirement.”
Now, remember what we said about original Roth contributions being tax- and penalty-free? With rare exceptions – and this is one of them – that doesn’t apply to any investment gains withdrawn before age 59½. Thanks to this caveat, first-time homebuyers (as well as those who haven’t owned a home for at least two years) may also be able to withdraw up to $10,000 of those gains and still not pay any tax or penalty as long as the account has been held for at least five years.
• Education. And why aren’t as many Millennials buying homes? One of the biggest reasons: crushing student-loan debt.
In another one of those Millennial-friendly exceptions, Roth money can be tapped to pay for qualified educational expenses such as college or graduate school for yourself, your spouse, or your children. Unlike with homes, though, you’ll only beat the penalty – not the tax – on any earnings you withdraw when following the same five-year rule.
And there’s evidence that Millennials are taking the message about Roths seriously.
Fidelity, which has tools and scenarios to help pick which IRA is right for you – as well as advice on specifically saving in a Roth during your 20s and 30s – says 80 percent of Millennials’ contribution dollars at the firm are going into Roths.
As for 2019, know that the income cutoff for Roth eligibility (based on your modified adjusted gross income) has been increased over the last year to $137,000 from $135,000 for single filers and $203,000 from $199,000 for joint filers. Also raised: the annual contribution limit for both Roth and traditional IRAs (to $6,000 from $5,500, with an additional catch-up of $1,000 for those 50 and older).
“One of the great things about being a Millennial,” says Ridolfi, “is they have time and the power of compound interest on their side.”
Thanks: NewsUSA
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A Roth IRA May Be Just What Millennials Need
2020 was a hot mess in every conceivable way, finances included.
And yet, hope springs eternal.
Our new year financial resolutions survey shows that cash concerns and unexpected expenses still weigh heavily on millennials’ minds.
However, many are optimistic about the year to come.Read the blog here: Millennials Share Their Financial Resolutions of 2021
Chatbots are revolutionizing many industries, offering personalization and driving engagement that can be monetized.
Let’s take a look at the top 5 industries that are already harnessing the benefits of chatbots:
With conversational AI chatbots predicting your web shop visitors’ current needs based on their past behavior analysis and purchase history, no wonder 71% of millennials expect to interact with their favourite brands via a chatbot.
Contemporary eCommerce customers expect personalized shopping experience and an AI-powered chatbot can be their personal sales assistant.
It can help your customers find exactly what they are looking for and at the same time cross sell or upsell based on recommendation.
Among many other industry sectors using chatbot innovation, healthcare is perhaps the most important keeping in mind the numerous benefits it brings to this domain.
We are social animals and need someone with whom we can share everything and anything.
With everything going online, even dating became online, there are apps like Tinder, Bumble, Hinge, etc.
that revolutionized and made it easy for people to find love.
Targeting Millennials and GenZ and helping people find love; these apps are doing fabulous work.
But, there is still plenty of scope to make these apps better and help people connect in a better way.
Dating industry is booming currently and developing an application for it is a perfect idea.
How is mentorship integrated in your workplace?
79% of millennials see mentoring as crucial to their career success
The global juicer market is mainly driven by the growing demand from residential consumers in recent years, which has been a major driver for all electrical appliances.
The Global Juicer Market is expected to exhibit a robust 6.9% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR).
The economic and competitive landscape of the juicer market is also examined in the report.Growing demand from the youth population for fruit juice products is likely to be a major driver for the global juicer market over the forecast period.
The importance of juicers to teenagers and other similar demographics is high, as they can be used to produce a wide variety of beverages, such as fruit juices and milk shakes.
The global juicer market has grown steadily over the review period due to the growing demand for kitchen appliances in the developed world.
The growing food and beverage industry have driven the demand for industrial juicers used in processing and manufacturing plants for fruit juices and other fruit- and vegetable-based drinks.Global Juicer Market Share (%), by Region, 2018Get a Free Sample Copy Report @ https://www.marketresearchfuture.com/sample_request/8299The global juicer market has been segmented based on type, end user, distribution channel, and region.By type, the global juicer market has been bifurcated into manual juicers and electric juicers.
With the demand for personalization, businesses and marketers have been employing a customer-centric approach.
2020 witnessed some major eCommerce development trends that set Ecommerce Development Services on a new course.
#1 Recommerce with Ecommerce Development ServicesRecommerce, also known as Reverse Commerce, proved to be a trendsetter by taking the concept of sustainability to a higher level.
Even, the fashion industry, which once avidly encouraged the “use-and-throw” concept now adopted this change.
Genz and millennials aided this growth with a high desire for sustainable fashion.
Traditional WOM marketing digitally became UGC.
Given that you ended up existing, you have been doing over your competitors-right?
With 30% of millennials indicating they have interaction having a brand on social at the very least once per month, your strategy just cannot be only about existence.
Instead, social media preparing should be checked out like cooking your favorite dish.
Not only is it critical to help you benchmark where you’re, but it also increases your odds of attaining them.
Investigate Your Social Media Viewers
Approximately 79% of older people use Facebook-but are your customers actively engaging along with your brand there?
Accessible Luxury Goods Market:WiseGuyReports.com adds “Global Accessible Luxury Goods Market Size, Status and Forecast 2020-2025” reports to its database.Executive SummaryGlobal Accessible Luxury Goods Market was valued at USD 137.8 billion in the year 2019.
Also, changing lifestyle, inclination towards individualism, increase in number of middle-income groups, rising demand from Chinese millennials and Gen Z are some of the factors impelling the market growth of Accessible Luxury Goods market at global level.However, the accessible luxury goods is badly impacted by market store terminations and clients stooping down in their homes due to the attack of Covid-19 pandemic.
Major countries and regions of the world, from China to Japan, Europe and North America are battling with the COVID-19 menace and disturbed distribution chains.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5287073-global-accessible-luxury-goods-market-analysis-by-productUnder the product segment, Apparel and Footwear are anticipated to witness the largest market share owing to rise in brand awareness, availability of fine quality of the fabric at an affordable price and also developing individuality to one’s personality are the factors behind burgeoning accessible luxury apparel and Footwear market.
Particularly the price of the accessible luxury is such that middle income groups can afford to purchase these goods.
Also growing adoption of online shopping among consumers with changing fashion and lifestyle preferences supported by various initiatives from ecommerce majors to provide better shopping experience with consumers centric website, will be accelerating the Accessible Luxury Goods market growth in the coming years.Closure of stores in the market due to the COVID-19 pandemic in 2020, the online shopping is gaining momentum and also the companies have started using further automation and artificial intelligence to improve the digitization process which in turn will enhance the resilience of the supply chains.
Consequently, the online market of accessible luxury goods is prospected to increase in the future.Scope of the Report• The report analyses Accessible Luxury Goods market By Value.• The report analyses Accessible Luxury Goods Market By Product (Apparel and Footwear, Cosmetics and Fragrance, Jewelry and Watches and Bags & Accessories).• The report assesses the Accessible Luxury Goods market By Sales Channel (Online and Offline).• The Global Accessible Luxury Goods Market has been analysed By Region (North America, Europe, Asia Pacific) and By Country (US, Canada, UK, Italy, France, Spain, China, India, South Korea, Japan).• The key insights of the report have been presented through the attractiveness of the market has been presented By Product, Sales Channel and Region.
They are the product of over protective parents who have dedicated their lives to ensuring that their children never have a negative experience.
Make no mistake, millennials are coming to your office very soon, so how do managers integrate these coddled individuals into your workforce?Integrating someone new into an existing team is always challenging, and now managers have to integrate someone into their team who has a dramatically different work ethic than the rest of the team.
Given this information, how do managers cope?As most of us born into Generation x (1961-1981) tend to do, we adapt and overcome.
Effective communication is always an essential management skill, but it is critical in managing millennials in time of change, negotiation and conflict.Yes!
The issue of the student being late was making me crazy, and when I finally confronted him about his inability to respect that he is disturbing class for the other students by being late, his answer was that he was a Millennial and he will start class when he wants to.I was completely shocked.
He had no concept that he was disturbing class by being late.
Botox in less dosage is now welcomed by more people, including millennials.
There has also been a booming demand for other beauty services, as we spend more time looking at our faces.
For more details visit us: https://www.cutislaserclinics.com/blog/the-booming-demand-for-botox-in-smaller-doses/
The anti-pollution mask market is expected to grow at a ~ 9% CAGR over the forecast period.
Numerous densely populated countries around the world are under constant threat of air pollution.
Increasing awareness surrounding air pollution is fuelling the market to a greater extent.
Prominent companies operating in the anti-pollution masks market are developing battery powered masks to attract millennials and offer comfort.In 2019, worldwide sales of anti-pollution masks, contributed by both disposable and reusable masks, are estimated to reach a value of `US$ 2.9 Billion by the end of 2019.
Increasing incidence of diseases such as emphysema, lung cancer, bronchitis and asthma are influencing the anti-pollution masks market significantly.Key Takeaways from the Anti-Pollution Mask Market StudyA handful of companies including PollutionAirMask and Xiaomi are focused on digitalizing their productProminent companies are developing anti-pollution masks to target specific population groupThere is tough market competition between local and international players to capture market share and increase their volume salesIndia and China are expected create significant demand for anti-pollution masksMany companies sell their products through their own online stores or third party online channels.
Emerging players are easily finding their way in the anti-pollution masks market by bringing in more advanced and cost effective products.According to Institute for Health Metrics and Evaluation more than 5.5 million people die prematurely every year due to polluted air, escalating the demand in the market for anti-pollution masksYou can Request an Example Copy from here - https://www.factmr.com/connectus/sample?flag=S_id=4287Start-Up Companies Are Focused on Product Innovation The start-up companies have created a new trend of digital anti-pollution masks that can track live air pollution and feed that information to the mobile phone.
How to enter the lucrative ride-hailing taxi market?
The traditional ecosystem is witnessing a tectonic shift from hailing cabs to convenient on-demand solutions.
Ride-hailing taxi market The shift is caused by rising smart-device sales coupled with next-generation millennials.
These specialized online platforms predict demand and match the same with ease.
2020 was a hot mess in every conceivable way, finances included.
And yet, hope springs eternal.
Our new year financial resolutions survey shows that cash concerns and unexpected expenses still weigh heavily on millennials’ minds.
However, many are optimistic about the year to come.Read the blog here: Millennials Share Their Financial Resolutions of 2021
Given that you ended up existing, you have been doing over your competitors-right?
With 30% of millennials indicating they have interaction having a brand on social at the very least once per month, your strategy just cannot be only about existence.
Instead, social media preparing should be checked out like cooking your favorite dish.
Not only is it critical to help you benchmark where you’re, but it also increases your odds of attaining them.
Investigate Your Social Media Viewers
Approximately 79% of older people use Facebook-but are your customers actively engaging along with your brand there?
Accessible Luxury Goods Market:WiseGuyReports.com adds “Global Accessible Luxury Goods Market Size, Status and Forecast 2020-2025” reports to its database.Executive SummaryGlobal Accessible Luxury Goods Market was valued at USD 137.8 billion in the year 2019.
Also, changing lifestyle, inclination towards individualism, increase in number of middle-income groups, rising demand from Chinese millennials and Gen Z are some of the factors impelling the market growth of Accessible Luxury Goods market at global level.However, the accessible luxury goods is badly impacted by market store terminations and clients stooping down in their homes due to the attack of Covid-19 pandemic.
Major countries and regions of the world, from China to Japan, Europe and North America are battling with the COVID-19 menace and disturbed distribution chains.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5287073-global-accessible-luxury-goods-market-analysis-by-productUnder the product segment, Apparel and Footwear are anticipated to witness the largest market share owing to rise in brand awareness, availability of fine quality of the fabric at an affordable price and also developing individuality to one’s personality are the factors behind burgeoning accessible luxury apparel and Footwear market.
Particularly the price of the accessible luxury is such that middle income groups can afford to purchase these goods.
Also growing adoption of online shopping among consumers with changing fashion and lifestyle preferences supported by various initiatives from ecommerce majors to provide better shopping experience with consumers centric website, will be accelerating the Accessible Luxury Goods market growth in the coming years.Closure of stores in the market due to the COVID-19 pandemic in 2020, the online shopping is gaining momentum and also the companies have started using further automation and artificial intelligence to improve the digitization process which in turn will enhance the resilience of the supply chains.
Consequently, the online market of accessible luxury goods is prospected to increase in the future.Scope of the Report• The report analyses Accessible Luxury Goods market By Value.• The report analyses Accessible Luxury Goods Market By Product (Apparel and Footwear, Cosmetics and Fragrance, Jewelry and Watches and Bags & Accessories).• The report assesses the Accessible Luxury Goods market By Sales Channel (Online and Offline).• The Global Accessible Luxury Goods Market has been analysed By Region (North America, Europe, Asia Pacific) and By Country (US, Canada, UK, Italy, France, Spain, China, India, South Korea, Japan).• The key insights of the report have been presented through the attractiveness of the market has been presented By Product, Sales Channel and Region.
Chatbots are revolutionizing many industries, offering personalization and driving engagement that can be monetized.
Let’s take a look at the top 5 industries that are already harnessing the benefits of chatbots:
With conversational AI chatbots predicting your web shop visitors’ current needs based on their past behavior analysis and purchase history, no wonder 71% of millennials expect to interact with their favourite brands via a chatbot.
Contemporary eCommerce customers expect personalized shopping experience and an AI-powered chatbot can be their personal sales assistant.
It can help your customers find exactly what they are looking for and at the same time cross sell or upsell based on recommendation.
Among many other industry sectors using chatbot innovation, healthcare is perhaps the most important keeping in mind the numerous benefits it brings to this domain.
They are the product of over protective parents who have dedicated their lives to ensuring that their children never have a negative experience.
Make no mistake, millennials are coming to your office very soon, so how do managers integrate these coddled individuals into your workforce?Integrating someone new into an existing team is always challenging, and now managers have to integrate someone into their team who has a dramatically different work ethic than the rest of the team.
Given this information, how do managers cope?As most of us born into Generation x (1961-1981) tend to do, we adapt and overcome.
Effective communication is always an essential management skill, but it is critical in managing millennials in time of change, negotiation and conflict.Yes!
The issue of the student being late was making me crazy, and when I finally confronted him about his inability to respect that he is disturbing class for the other students by being late, his answer was that he was a Millennial and he will start class when he wants to.I was completely shocked.
He had no concept that he was disturbing class by being late.
We are social animals and need someone with whom we can share everything and anything.
With everything going online, even dating became online, there are apps like Tinder, Bumble, Hinge, etc.
that revolutionized and made it easy for people to find love.
Targeting Millennials and GenZ and helping people find love; these apps are doing fabulous work.
But, there is still plenty of scope to make these apps better and help people connect in a better way.
Dating industry is booming currently and developing an application for it is a perfect idea.
How is mentorship integrated in your workplace?
79% of millennials see mentoring as crucial to their career success
Botox in less dosage is now welcomed by more people, including millennials.
There has also been a booming demand for other beauty services, as we spend more time looking at our faces.
For more details visit us: https://www.cutislaserclinics.com/blog/the-booming-demand-for-botox-in-smaller-doses/
The global juicer market is mainly driven by the growing demand from residential consumers in recent years, which has been a major driver for all electrical appliances.
The Global Juicer Market is expected to exhibit a robust 6.9% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR).
The economic and competitive landscape of the juicer market is also examined in the report.Growing demand from the youth population for fruit juice products is likely to be a major driver for the global juicer market over the forecast period.
The importance of juicers to teenagers and other similar demographics is high, as they can be used to produce a wide variety of beverages, such as fruit juices and milk shakes.
The global juicer market has grown steadily over the review period due to the growing demand for kitchen appliances in the developed world.
The growing food and beverage industry have driven the demand for industrial juicers used in processing and manufacturing plants for fruit juices and other fruit- and vegetable-based drinks.Global Juicer Market Share (%), by Region, 2018Get a Free Sample Copy Report @ https://www.marketresearchfuture.com/sample_request/8299The global juicer market has been segmented based on type, end user, distribution channel, and region.By type, the global juicer market has been bifurcated into manual juicers and electric juicers.
The anti-pollution mask market is expected to grow at a ~ 9% CAGR over the forecast period.
Numerous densely populated countries around the world are under constant threat of air pollution.
Increasing awareness surrounding air pollution is fuelling the market to a greater extent.
Prominent companies operating in the anti-pollution masks market are developing battery powered masks to attract millennials and offer comfort.In 2019, worldwide sales of anti-pollution masks, contributed by both disposable and reusable masks, are estimated to reach a value of `US$ 2.9 Billion by the end of 2019.
Increasing incidence of diseases such as emphysema, lung cancer, bronchitis and asthma are influencing the anti-pollution masks market significantly.Key Takeaways from the Anti-Pollution Mask Market StudyA handful of companies including PollutionAirMask and Xiaomi are focused on digitalizing their productProminent companies are developing anti-pollution masks to target specific population groupThere is tough market competition between local and international players to capture market share and increase their volume salesIndia and China are expected create significant demand for anti-pollution masksMany companies sell their products through their own online stores or third party online channels.
Emerging players are easily finding their way in the anti-pollution masks market by bringing in more advanced and cost effective products.According to Institute for Health Metrics and Evaluation more than 5.5 million people die prematurely every year due to polluted air, escalating the demand in the market for anti-pollution masksYou can Request an Example Copy from here - https://www.factmr.com/connectus/sample?flag=S_id=4287Start-Up Companies Are Focused on Product Innovation The start-up companies have created a new trend of digital anti-pollution masks that can track live air pollution and feed that information to the mobile phone.
How to enter the lucrative ride-hailing taxi market?
The traditional ecosystem is witnessing a tectonic shift from hailing cabs to convenient on-demand solutions.
Ride-hailing taxi market The shift is caused by rising smart-device sales coupled with next-generation millennials.
These specialized online platforms predict demand and match the same with ease.
With the demand for personalization, businesses and marketers have been employing a customer-centric approach.
2020 witnessed some major eCommerce development trends that set Ecommerce Development Services on a new course.
#1 Recommerce with Ecommerce Development ServicesRecommerce, also known as Reverse Commerce, proved to be a trendsetter by taking the concept of sustainability to a higher level.
Even, the fashion industry, which once avidly encouraged the “use-and-throw” concept now adopted this change.
Genz and millennials aided this growth with a high desire for sustainable fashion.
Traditional WOM marketing digitally became UGC.