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☆ TikTok sets automatic one-hour screen time limit for teens
▼ + stars: | 2023-03-01 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

TikTok said Wednesday it will implement an automatic 60-minute screen-time limit for all users under the age of 18. Teens will be able to opt out of the feature if they want, but TikTok said that the app will prompt teens to set a limit if they spend "more than 100 minutes on TikTok in a day." TikTok is taking steps to curb screen time for its younger users as it stares down growing scrutiny from regulators and lawmakers over its security and the safety of children on the platform. A study from the Pew Research Center last August found 67% of American teenagers used TikTok, with 16% of all teens saying they used it "constantly." TikTok parent ByteDance faces a probe from the Committee on Foreign Investment in the United States, also known as CFIUS, over national security concerns.

☆ The gender pay gap: Why it hasn't narrowed much over 20 years
▼ + stars: | 2023-03-01 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

“Higher education, a shift to higher-paying occupations and more labor market experience have helped women narrow the gender pay gap since 1982,” the Pew analysis noted. “To some extent, the gender wage gap varies by race and ethnicity because of differences in education, experience, occupation and other factors that drive the gender wage gap for women overall,” the Pew analysis noted. Regardless, the gender pay gap is typically narrowest when you pick any single occupation and control for measurable factors between men and women like education, tenure and hours worked. Another factor that may help explain the stickiness of the pay gap is that the wage premium for those with college degrees has grown smaller. Narrowing the gender pay gap from here may be tough sledding.

☆ Elon Musk calls US media and schools 'racist against whites & Asians'
▼ + stars: | 2023-02-26 | by ( Lora Kolodny | ) www.cnbc.com time to read: +5 min

Tesla Chief Executive Office Elon Musk speaks at his company's factory in Fremont, California. In the video, Adams discussed a poll conducted by right-leaning Rasmussen Reports that said 26% of Black respondents disagreed with the statement "It's OK to be white." In his video, Adams called Black people who rejected that phrase as a "hate group." He then added, "For a *very* long time, US media was racist against non-white people, now they're racist against whites & Asians. Musk claimed that the media coverage is "Very disproportionate to promote a false narrative."

☆ More Parents Are Moving In With Adult Children—at Younger Ages
▼ + stars: | 2023-02-22 | by ( Oyin Adedoyin | Photographs Zack Wittman For The Wall Street Journal | ) www.wsj.com time to read: 1 min

More parents are moving in with their young adult children, and they are doing it while they are younger, healthier and often still working. One in four Americans aged 25 to 34 lived with parents or older relatives as of 2021, the fastest-growing segment in multigenerational households, according to data from Pew Research Center. Most of this group is adult children moving back in with their parents, but a significant number of older adults are moving in with millennials, said Richard Fry , a senior researcher at Pew. In 2021, 9% of multigenerational households were headed by a 25- to 34-year-old, up from 6% in 2001.

☆ Falling behind on federal student loans can lead to other major financial problems
▼ + stars: | 2023-02-22 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Falling behind on federal student loans is likely to trigger other major financial consequences for borrowers, according to new research by The Pew Charitable Trusts. More than 80% of borrowers who experienced default stated that they'd faced at least one additional consequence as a result. The most common impact was a drop in their credit score (62%) followed by being subject to collection fees (47%) and losing eligibility for future federal financial aid (37%). Other consequences that followed from a default on federal student loans included wage garnishment, the suspension of professional licenses and having Social Security or tax refunds offset. Most recently, U.S. Department of Education Undersecretary James Kvaal said that if the government isn't allowed to carry out its sweeping student loan forgiveness plan, there could be a "historically large increase in the amount of federal student loan delinquency and defaults as a result of the Covid-19 pandemic."

☆ Millions of millennials could soon enter a midlife crisis. But they're going to spend and divorce less — and value experiences more — than prior generations.
▼ + stars: | 2023-02-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Millions of millennials could experience a midlife crisis over the next decade. But even if the midlife crisis persists among millennials, they're unlikely to respond to it the same way as prior generations. That said, there's some evidence that millennials' spending habits are actually a bit different than those of Gen X and boomers. So when the midlife crisis comes, millennials may respond by taking a big vacation rather than buying a sports car. The lower marriage rate among millennials is among the reasons they've also had fewer children than prior generations.

☆ A 'baby bond' bill to give every child $1,000 at birth has been reintroduced in Congress. How it would work
▼ + stars: | 2023-02-21 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

The policy is aimed at narrowing the wealth gap, which has grown dramatically in the past 50 years, according to the lawmakers. The idea of baby bonds is getting traction in some states. Baby bond legislation has passed in California, Connecticut and Washington, D.C. Another eight states have introduced legislation, according to the Urban Institute, including Iowa, New Jersey, New York, Wisconsin, Washington, Delaware, Nevada and Massachusetts. A national policy may reduce the wealthy disparity between young white and Black Americans to a ratio of 1 to 4, according to the research. Estimates have found young white Americans have 16 times the wealth of young Black Americans, based on median incomes.

☆ Why a 70-year-old flour brand is suddenly surging in popularity among Gen Z
▼ + stars: | 2023-02-18 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Corn flour brand Maseca was one of the top brands among Gen Z consumers, per Numerator. People of Hispanic heritage make up a quarter of Gen Z, a larger share than any previous generation. Maseca ranked fourth on Numerator's list of the top Gen Z brands of 2022. In 2022, "89% of Maseca's Gen Z sales growth came from Gen Z Hispanics, compared to 60% of total Maseca's sales growth coming from Hispanics," a Numerator spokesperson said. Fifty-four percent of Gen Z Hispanic households consider heritage important to which foods and beverages they buy.

I read a lot about saving and investing and use investing apps that make it easy to build wealth. While these numbers look discouraging, I've never been more encouraged to build wealth as Black woman in America. I have four siblings, and we often talk about how we want to be the generation to build wealth and pass something on to our kids. Editor's Rating 4.36/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.34/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 3.9/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On Public's website Learn more On Wealthfront's website Learn more On Acorns' websiteIn 2017, I opened an IRA for the first time, and just contributed whatever I could. Overall, putting in the time and money to learn more about finances has helped me make wise money decisions and have a better shot at building wealth as a Black woman.

☆ Meet a 24-year old living with her parents who splurges on weekend trips, a Chanel handbag, and a Balmain jacket with all the money she'd spend on rent
▼ + stars: | 2023-02-16 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Anastasia Ricci, 24, decided to stay with her parents during the pandemic and never left. With all the money she's saving on rent she's able to buy designer clothes and expensive trips. Anastasia Ricci in a $1,700 Balmain jacket. Anastasia Ricci bowling in Miami. Anastasia Ricci during a $1,200 weekend trip to Miami.

☆ The 'singles tax': People who live alone are paying thousands more on rent than their coupled-up counterparts
▼ + stars: | 2023-02-14 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +6 min

It costs to be single: Americans living alone are facing a "singles tax" that costs thousands. A recent Zillow analysis compares how much more single Americans are paying to live alone in a one-bedroom place, compared to couples in the same spots. The results: On average, solo Americans are paying a "singles tax" of almost $7,000 every year. Those three all have singles tax of above $10,000 per Zillow's analysis on one-bedrooms. Silvia Tergas, a financial planner with Prudential, told Insider the singles tax is also reflected in the actual tax system, which largely benefits married couples who file jointly.

☆ TikTok creators could soon start charging users to watch their videos, report says
▼ + stars: | 2023-02-13 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

TikTok creators could soon start charging fans to watch their videos, per The Information. The company hopes a paywall and second Creator Fund 2.0 would help to reward creators on the app. These projects aim to bring more users to TikTok after the platform's use among US adults plateaued last year. Only 21% of US adults currently use TikTok, according to a 2021 Pew Research study, compared to 67% of US teenagers, according to a 2022 Pew Research poll. "We're committed to exploring new ways to create a valuable and rewarding experience for the TikTok creator community," a TikTok spokesperson told Insider, though they declined to comment on the specific features.

☆ Rollovers from a 401(k) plan to an IRA: Weigh these 7 factors first
▼ + stars: | 2023-02-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Investment funds in 401(k) plans are generally less costly than their IRA counterparts. That's largely because IRA investors are "retail" investors while 401(k) savers often get access to more favorable "institutional" pricing. watch nowOf course, not all 401(k) plans are created equal. For example, more than 30% of 401(k) plans disallow periodic or partial withdrawals by retirees, and about 36% disallow installment payments, according to the Plan Sponsor Council of America, a trade group. Company stockWorkers who own company stock in their 401(k) can get a tax benefit for keeping those holdings in-plan rather than rolling them to an IRA, Jenkin said.

☆ Column: Where to park the 401(k) when you switch jobs or retire
▼ + stars: | 2023-02-09 | by ( Mark Miller | ) www.reuters.com time to read: +5 min

When you change jobs or retire, you have three basic choices: leave your retirement account where it is, roll it over to a new employer or move it to a standalone individual retirement account (IRA). When does it make sense to leave a 401(k) plan behind? A rollover can make sense if you are in a 401(k) plan with poor investment choices or high fees. FOCUS ON THE FEESPew analyzed the difference between average institutional and retail share class expense ratios across all mutual funds that offered at least one institutional share class and one retail share class in 2019. There is also a case to be made for staying in your 401(k) plan - especially if you work for a large employer.

☆ VP Harris: Young people will 'leapfrog' this generation in climate change work because they won't face the question: 'Is this real?'
▼ + stars: | 2023-02-09 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +3 min

US Vice President Kamala Harris speaks about the administrations investments and actions to combat the climate crisis, at Georgia Institute of Technology in Atlanta, Georgia, on February 8, 2023. "Because, you know, especially for our younger leaders, the benefit that you have is you're not burdened by any question about, 'Is this real?'" Another 2021 survey showed that 59% of young people aged 16 to 25 years old around the globe are "very or extremely worried" about climate change and 84% are at least "moderately worried." Among other topics, Vice President Harris also spoke about electric vehicle and electric school bus use, water scarcity policy, and how climate change disproportionally impacts the most vulnerable in society. That migration, forced by climate change, may lead to conflict, she said.

☆ 42% of daters think apps like Tinder and Bumble make it easier to find a long-term partner
▼ + stars: | 2023-02-07 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

42% of adults think dating apps make it easier to find a long-term partner, according to a new survey from Pew Research Center. Of respondents ages 18 to 29, 35% said dating apps make finding a serious partner easier — while 33% said it makes things harder. A whopping 43% of men said they are using the apps to casually date while 42% said they are looking for a long-term partner. Alternatively, 48% of women said they are using dating apps to find long-term partners and only 37% are using apps to date casually. A whopping 54% of women feel overwhelmed by messages on dating apps, but only 25% of men feel the same.

Seventy-five percent of Americans say strengthening the economy should be the top policy priority for President Joe Biden and Congress to address this year, according to a new Pew Research Center poll, higher than any other priority the survey tested. At the bottom of the list of 21 different policy priorities is dealing with the coronavirus pandemic, with just 26% of respondents saying Biden and Congress should address it this year — a drop from 2021 and 2022, when it was near the top in the poll. The Pew survey comes ahead of Biden’s State of the Union address on Tuesday, and it shows broad agreement that strengthening the economy should be priority, with 84% of Republicans and 68% of Democrat saying it should be. But there’s disagreement on dealing with immigration (70% of Republicans said it should be a priority, versus 37% of Democrats), on dealing with climate change (59% of Democrats vs. 13% of Republicans) and on addressing issues around race (49% of Democrats vs. 13% of Republicans). The online Pew poll was conducted Jan. 18-24 of 5,152 adults, and it has an overall margin of error of plus-minus 1.7 percentage points.

☆ Super Bowl a showcase for next generation of quarterback talent
▼ + stars: | 2023-02-05 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

The next-youngest quarterback duo was Joe Montana and Dan Marino, who faced off at Super Bowl 19 at a combined age of 51 years and 350 days, according to ESPN, in 1985. Hurts will become the first member of Gen-Z to start in a Super Bowl, with Pew Research Center defining his generation as those born in 1997 or later. He has plenty of company among high-achieving young quarterbacks. "To find some stability in that position is like finding a massive gold nugget," ESPN analyst and retired twice Super Bowl champion Rob Ninkovich told Reuters. The Kansas City Chiefs play the Philadelphia Eagles in Super Bowl 57 on Feb. 12.

☆ Confessions of 20-somethings who live at home and splash out on cars, designer handbags, and nightclubs instead
▼ + stars: | 2023-02-04 | by ( Dan Latu | Kelsey Neubauer | ) www.businessinsider.com time to read: +9 min

They're also spending the money they would have spent on rent on pricey goods and travel. Courtesy of Julia MachajProfession: EngineerIf she weren't living with her parents she'd live in: Stamford, Connecticut, where the rent starts at $1,875, according to Rent.com. Courtesy of Jonathan BranchProfession: AccountantIf he wasn't living with his parents he'd live in: Arlington, Virginia, where rent starts at $1,999, according to Rent.com. He's spent money on: $700 Sony camera and $800 lensesJonathan Branch recently turned 30, but spent his twenties living at home in Fairfax, Virginia. Courtesy of Gabby BeckfordProfession: Travel influencerIf she weren't living with her parents she'd live in: Seattle, Washington, where rent starts at $1,560, according to Rent.com.

☆ Why Instagram Will Never Be Able to Compete With TikTok
▼ + stars: | 2023-02-02 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +9 min

TikTok's secret sauce is its ability to keep users on the platform, and without sacrificing its core, Instagram won't be able to compete. That's because on TikTok, every video a creator makes has to outperform every other TikTok video. Victim of its own successUnlike TikTok, Instagram has long been seen as a secure place on which to build a digital following. A year ago, when the researcher Valdovinos Kaye was interviewing TikTok creators for his book, he found that they desperately sought to transport their audiences over to Instagram. Rather than copying TikTok's success, Instagram might need to focus on what separates it from the pack.

China's population is shrinking. This shocking statistic is only the start of China's population decline. This year India is set to surpass China's population, and in a few years it will surpass China's working-age population — people 20 to 69. Because of its manufacturing prowess and importance to supply chains, China's shrinking working-age population has enormous, direct effects on the global economy. Among today's largest economies, only the US has a projection of positive population growth, though at very low levels.

☆ Black women on TikTok want to know, ‘Where’s our Alix Earle?’
▼ + stars: | 2023-01-30 | by ( Uwa Ede-Osifo | ) www.nbcnews.com time to read: +7 min

TikTok creator Danessy Auguste has spent the past few weeks feeling confused over the frenzy surrounding influencer Alix Earle. But for white women, their least successful videos, on average, still have the capability to reach millions of viewers, Boffone said. What would it take to get a ‘Black Alix Earle’? Adding another dimension to the Alix Earle discourse, one influencer posed a provocative question:“Do we deserve an Alix Earle?” Niké Ojekunle, who goes by @specsandblazers on TikTok, said in a video. Communal support with trends such as #BlackGirlFollowTrain have already allowed Black women to intentionally engage with one another’s content.

☆ Remote work hasn't actually saved Americans much time — they're mainly just working more
▼ + stars: | 2023-01-30 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Not having to commute could mean getting to partake in leisure activities — or more time to get work done. A working paper looked at how people working from home are using their time saved by not commuting. In the US, 23 minutes of this time saved goes to jobs, 19 minutes on leisure, and four minutes on caregiving. Looking at just the results for these wealthy democracies, the US stands out for its lack of minutes saved. This isn't just the case for remote workers in the US; other countries like France also saw workers using most of their saved time on work.

The issue brief stated that a "10% increase in median childcare prices was associated with 1 percentage-point lower county-level maternal employment rates." "High childcare prices and minimal public childcare investments are especially detrimental to employment among mothers with lower wages, as childcare affordability is out of reach," the researchers wrote. Childcare costs have outpaced inflation during the pandemic, according to one recent report, and the lion's share of childcare duties have fallen on women during the pandemic, causing them to leave the workforce en masse. Childcare workers made a mean hourly wage of $13.31 as of 2021, with the bottom 10% earning about $9 an hour. That's as childcare workers are more than twice as likely to live below the poverty line as those in other industries.

☆ Robot Pets and VR Headsets Can Reduce Older Adults’ Loneliness. So Why Don’t They?
▼ + stars: | 2023-01-28 | by ( Julie Jargon | ) www.wsj.com time to read: 1 min

Older Americans face a growing loneliness epidemic. Startups are finding ways technology can help. The hard part is bringing them together. The U.S. globally has the highest percentage of older adults living alone, according to Pew Research Center. The Centers for Disease Control and Prevention have long warned that social isolation contributes to numerous health problems, including dementia and depression.

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