Collecting is a popular hobby. Non-fungible tokens (NFTs) of artwork and other forms of media have received heaps of publicity for lofty sale prices, but traditional collectibles like coins are still more common. Collectors accumulate their favorite items — from sneakers and baseball cards to art and jewelry — for various reasons. So MagnifyMoney surveyed more than 1,500 Americans to find out who’s collecting items and learn more about why they do. Mainly, consumers say they love the product they collect, but potential profit — aka money in the bank — is another strong motivator. Many collecto ..read more

The COVID-19 pandemic has wreaked plenty of financial havoc, but there’s a bit of light, too: Median wages for full-time, year-round workers in 2021 were 8.8%, or $4,186, higher than they were in 2019. By race and gender, Hispanic and Latino women saw the biggest wage growth by percentage, while Black and African American men got the smallest boost — though still an improvement. However, that news dims a bit when you factor in rising inflation, which has bogged down purchasing power (i.e., people are getting fewer goods and services for the same amount of money). Here, MagnifyMoney examines wa ..read more

Most Americans tend to invest with the primary goal of a comfortable retirement, but some younger investors want to get rich — and invest accordingly. MagnifyMoney surveyed nearly 1,300 Americans to get the pulse of investors, from strategies to behaviors, across different generations. We found that younger investors tend to actively trade, pursue riskier strategies and consume newer forms of media more than older investors. We also found that older investors tend to rely on financial advisors and avoid more volatile asset classes, such as options and cryptocurrency. Most baby boomers fit the ..read more

Paid time off (PTO) is an important consideration for workers, especially during a pandemic. MagnifyMoney surveyed more than 1,300 consumers to see who has PTO, how they get it and how they use it. Amid a pandemic that poses new physical and mental health challenges, 45% of Americans report they’ve gone to work sick because they lacked PTO — and nearly a third (32%) of currently employed consumers don’t have PTO. TABLE OF CONTENTS Key findings About a third of American workers don’t get PTO Working under the weather because of a lack of PTO When left to choose between time and money, American ..read more

The federal funds rate is the interest rate at which depository institutions, like banks and credit unions, lend each other their excess reserves overnight. The current federal funds rate: 0.00%-0.25% as of the Fed’s most recent meeting in January 2022. The Federal Open Markets Committee (FOMC) of the U.S. Federal Reserve sets the federal funds rate as part of its monetary policy. As the U.S. central bank, the Federal Reserve has a dual mandate to promote maximum employment and price stability. Generally, as unemployment declines, inflation rises, and vice versa. The Fed sets the federal funds ..read more

It’s no secret that women earn less than men. According to the newest MagnifyMoney study on the gender pay gap, women are disproportionately represented in the lowest income tier and underrepresented in the highest. In fact, 72% of workers who earn six-figure salaries or above are men, while 57% of workers who earn less than $25,000 a year are women. This is according to an analysis of the latest available U.S. Census Bureau data. “Women are always playing catch-up,” says Ismat Mangla, executive editor at MagnifyMoney. “They bear the brunt of low-wage jobs, and those low wages translate to a l ..read more

If you’re looking for a financial advisor in Indiana’s capital and aren’t sure where to start, this list of the top financial advisors in Indianapolis can help make the process less overwhelming. Finding the right advisor in Indianapolis — or in any city in the Hoosier state, for that matter — requires figuring out what your financial needs and goals are as well as how much you’re able to spend. Once you figure that out, you’ll need to compare firms and data points. In the hopes of making that easier, we compiled the most pertinent information on a number of financial advisors in Indianap ..read more

The good news about living paycheck to paycheck: You are earning paychecks. The bad news: There’s nothing left over after your expenses are paid, which can be earth-shattering if those paychecks stop coming. That’s the reality for many Americans, though, as 50% of working Americans report living paycheck to paycheck, according to the latest MagnifyMoney survey of 2,100 people. While people in lower income brackets are most likely to live paycheck to paycheck, results show that this also affects a sizable portion of those in higher income brackets. To break the cycle, experts say establishing a ..read more

In the Mile High City, it might seem like your list of financial advisor options is a mile long. But when it comes down to choosing an advisor in Denver, what really matters is finding the right fit for you, which means identifying your own financial needs and goals. Still, there can be a lot of information to wade through, so to make the search easier for residents of Colorado’s capital, we’ve compiled the most pertinent points to help guide your decision. To determine the best advisors in Denver, we considered only firms that manage individual accounts and offer financial planning. We then r ..read more

Dallas is in the heart of Texas, home to the Dallas Cowboys, Texas State Fair and the John F. Kennedy Memorial Plaza. Several financial advisor firms are located in Dallas, serving investors in the city and around the country. MagnifyMoney reviewed registered investment advisor (RIA) firms using information from each firm’s filings with the Securities and Exchange Commission (SEC) and ranked each firm based on assets under management (AUM). Review our methodology for more details. Find a Financial Advisor How much would you like to invest? $1K$5K$25K$50K$100K$250K$1M$5M Find a Financial Ad ..read more