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The settlement will pay $175 million to the state and drivers, many of whom claimed both companies violated Massachusetts wage and hour laws. Also, Massachusetts drivers will be considered independent contractors, meaning they will not receive all the protections of employees. Advertisement"The recent agreement reached in Massachusetts before the ballot initiatives were decided by Massachusetts voters is a favorable outcome for most Massachusetts drivers," Avedian said. What Massachusetts drivers sayAvedian said for the majority of drivers, this settlement is a big step in the right direction. In May, Uber and Lyft struck a deal to pay Minnesota drivers $1.28 per mile and $0.31 per minute minimum.
Persons: , Uber, Lyft, Sergio Avedian, Guy, Avedian, Mark McInerney, he's, Matt R, Matt, Ronald Banks, Jen, isn't Organizations: Service, Business, Uber, Lyft, California Supreme, Research, UC Berkeley Labor Center, Center for Wage, Dynamics, Seattle metros, Drivers, New York City, Taxi, Limousine Commission, New York, Minnesota Locations: Massachusetts, New York , California, Washington, Minnesota, New York State , Minnesota, Boston, Texas and Massachusetts, Chicago , Portland, Virginia, California, Los Angeles, San Francisco, Chicago, New York, New York City, New, Minneapolis
In 2006, her son died in a construction accident, six months after her husband had a major stroke. They settled in Tarpon Springs, Florida, and Sussman got a job in the catering department for several hotels. AdvertisementHer husband decided he wanted to live his last years on the property where they would have their dream home, and they put a manufactured home on the property. "I didn't know who I was in this new role. I didn't know where to go from there."
Persons: Janet Sussman, Sussman, Panama Sussman, " Sussman, she's Organizations: Service, Business, pats, United, Panama City Locations: New York, Panama, Philadelphia, Tarpon Springs , Florida, Florida, Airbnbs, Panama City, United States, Clearwater , Florida, Panama —
Now almost 57, Murillo, who lives in the Chicago area, has a net worth of over $1.1 million and is on pace to reach financial independence within three years. AdvertisementShe developed a plan to pay off her debt, saving roughly 40-50% of her net income of between $120,000 and $140,000. Murillo is one of many Americans who started their financial independence journeys later in life but are on pace to meet their early retirement goals. AdvertisementBy the time he turned 50, he and his wife had a net worth of almost a million. AdvertisementBy 47, she reached a million in net worth, which was about 25 times her expenses.
Persons: , Gina Murillo, Murillo, I'd, Gen Xers, Bill Yount, Yount, what's, He's, Jackie Cummings Koski, could've Organizations: Service, Business, FI, Vanguard, Walmart, LexisNexis, FIRE Locations: Chicago, Tennessee, South Carolina, Ohio
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Of the 14,450 millionaire businesses in this sector, 874 have revenues over $2.5 million. Millionaire businesses make up 0.38% of all one-person businesses in this sector. Millionaire businesses in construction made up 0.24% of total one-person construction businesses. On the flip side, utilities, mining, and manufacturing ranked lowest for millionaire businesses.
Persons: , Nick Huber Organizations: Service, Census Bureau, Business, Census, Finance
ALICE Americans make above the federal poverty level but not enough to comfortably afford all their daily expenses, often making too much to qualify for government assistance. The ALICE Essentials Index, which includes housing, childcare, food, transportation, healthcare, and technology costs, has risen by a projected 7.3% annually from 2021 to 2023; comparatively, CPI has risen by 6.1%. The ALICE Essentials Index for rural areas was slightly higher than that for urban areas, at 7.5% and 7.2%, respectively. "Long before everybody else was upset about inflation, ALICE was dealing with inflation," Hoopes said. Still, ALICE Americans tend to be overrepresented in these roles, as many pay below the ALICE threshold of about $55,000 a year.
Persons: , ALICE —, ALICE Americans, ALICE, Stephanie Hoopes, United For ALICE, Hoopes, There's Organizations: Service, Business, CPI, United For, United Locations: West, Georgia, Florida, South Carolina, Midwest, Northeast
Read previewChristina, an Uber and Lyft driver in Las Vegas, said about half of her passengers tip on a good day. Some riders have told her they don't know how to tip, forcing her to show them on the app. Ride-hailing drivers told Business Insider that customer tips are hard to come by. Related storiesSome drivers like Jillian, 67, who drives in Santa Clarita, California, have a simple solution for getting more tips — asking riders directly. The inconsistency is working against some driversAlex Santiago, a 48-year-old Uber driver in northern Virginia, used to dress business casual and catered music to passengers.
Persons: , Christina, she's, I've, Christina isn't, Uber, Nick Leighton, Lyft, Stuart, Marilyn Cassady, Cassady, there's, Jillian, it's, Alex Santiago, Santiago, Jason S, he's, hasn't, Jason, Andre Kingston, she'd, Kingston Organizations: Service, Business, Wolves, BI, Gridwise Locations: Las Vegas, United States, Austin, Myrtle Beach , South Carolina, Santa Clarita , California, Virginia, Detroit, Phoenix
Read previewAs St. Louis continues its guaranteed basic income pilot, two residents are suing to cut the program's funding. The plaintiffs, Greg Tumlin and Fred Hale, are both St. Louis residents. Adam Layne, the St. Louis city treasurer, previously told BI that St. Louis residents have primarily used their $500 a month to pay bills. BI reached out to the city of St. Louis and St. Louis Guaranteed Income for comment, but the parties did not respond by the time of publication. States like South Dakota, Arizona, and Iowa, Republican politicians have also brought basic income bans to the state legislature.
Persons: , Louis, Greg Tumlin, Fred Hale, Tumlin, Adam Layne, Louis GBI, Joe Biden's, Jack Dorsey, St, Ken Paxton, Attorney Christian D Organizations: Service, Business, ARPA, BI, Texas Supreme, Attorney Locations: Missouri, state's, Louis, St, Texas, Harris, Harris County, Houston, States, South Dakota , Arizona, Iowa
Dove didn't have much time to grieve, though. "I pushed back because I didn't think it was rewarding. I didn't think I would feel like I was contributing to society in a meaningful way as an investor," Dove said. Dove didn't want to work even more hours, which would force her to sacrifice time with her kids, so she made more with less. "Although we have not hit our FI number yet, we will reach our target amount by our target date with just what we contribute from my husband's income," Dove said.
Persons: , Chris Elle Dove, Dove, hadn't, Berkshire Hathaway, I've, they've, they're, we've, Dove didn't, Rivian Organizations: Service, Business, FIRE, Social Security, Berkshire, Farm Locations: Western Illinois, Bloomington , Illinois
With basic income, families had more housing and food securityUpTogether reported that basic income positively impacted participants' financial stability, well-being, and food and housing security. The percentage of participants with housing stability rose from 45% to 60%, while the participants reported an 8% decline in homelessness. More basic income programs are aimed at parentsMarin County's pilot isn't the only basic program to focus on low-income mothers. A basic income program in New Mexico also gave $500 a month to mixed-citizenship status immigrant families with children. Compared to federal safety nets like SNAP, Medicaid, or rental vouchers, basic income allows families more flexible spending.
Persons: , Claudia Muralles, San Francisco Bay — Muralles, Muralles, UpTogether, Community Action Marin, Marin County's, Flint, Jesús Gerena, Marin, Gerena Organizations: Service, Marin County , California —, Business, UpTogether, Marin Community Foundation, Marin Housing, Community Action, Children, Child Tax, Local, Medicaid Locations: Marin County , California, San Francisco Bay, Marin, Marin County, America, Flint , Michigan, New Mexico, GBI
Keenan said he's loved the peace and nature of Costa Rica after spending most of his life in Albuquerque. During his time with the insurance company, he attended a retreat in Playa Zancudo, located in the south of Costa Rica. After these visits, he knew he wanted to retire in Costa Rica to live an "easygoing" life far from the US. AdvertisementCosta Rica is more expensive than he thoughtKeenan said that when he first moved to Costa Rica, prices were cheaper than in the US but not by too much. AdvertisementHe never bought a house, as he said the process can take years in Costa Rica.
Persons: Gary Keenan, Little, Keenan, he's, it's, Costa Rica Keenan, José, hasn't, Kelley Organizations: Service, Business, Google, Costa Locations: New Mexico, Costa Rica, Albuquerque, America, Costa, Playa Zancudo, Playa Grande, Guanacaste, Europe, France, José, San Pedro, capital's, Santa Ana, San José, Costa Rican, Panama, Argentina, expats
That changed when Laws enrolled in The Denver Basic Income Project. Denver's basic income project helped participants secure housing and jobsDenver's report found that basic income primarily helped participants pay for immediate expenses — like transportation, hygiene, clothes, and groceries. Basic income puts low-income families on "an equal playing field," Nick Pacheco, participant engagement coordinator, said at a press conference. AdvertisementIndividuals who received the lump sum or $1,000 a month payments were more likely to find a stable, full-time job than before they received basic income. Basic income pilots can provide poverty solutionsAs the basic income pilot continues to be successful in cities like Denver, local leaders and economic security experts are looking to translate pilots into policy.
Persons: , Laws, Mark Donovan, Nick Pacheco, Pacheco, Moriah Rodriguez, Rodriguez, Dia Broncucia, Justin Searls, Searls, Broncucia, Teri Olle, Donovan, he's, wouldn't Organizations: Service, Business, The, Income, Denver, Colorado Trust, SNAP, Denver Public Schools, Social, Economic Security Locations: Denver, The Denver, Colorado, California, New Mexico, Economic Security California, It's
Ron, a 76-year-old based in California, always leaves his ride-hailing driver a 20% tip unless they are a "complete jerk," he told BI. AdvertisementShould Uber and Lyft drivers always get tips? Rob Schlegel, a journalist turned real-estate agent in Las Vegas, tries to always tip his Uber or Lyft driver the highest suggested amount for each ride. The reasons people do or don't tip their Uber and Lyft drivers can be complicated. According to Gridwise data, roughly 30% of US Uber drivers drove at least 25 hours a week in the first quarter of 2024.
Persons: , Valerie, haven't, Rob Schlegel, he's, Uber, Kellie Smith, Smith, it's, Carla Bevins, Bevins, DoorDash, Lillian, Lyft, Caroline, she's, Dee Dee, Carrie, It's, Bryan Organizations: Service, Business, Carnegie Mellon University, Uber, BI, Gridwise Locations: California, Las Vegas, Washington, US, Hampton Roads , Virginia
AdvertisementHow a FIRE family budgetsIn 2012, Dogen reached financial independence after 13 years in banking, predominantly in San Francisco. His wife retired in 2015 at 35 and worked part-time until they had their first kid. Other family expenses include $7,800 for three family vacations, $6,000 for entertainment, including sporting events and social functions, and $4,200 for baby items. He also said he feels safer as an Asian American in San Francisco than in many other parts of the country. He's itching to "fill that void" with part-time consulting work in the tech or startup industry, hoping to get more involved with AI companies in San Francisco.
Persons: , Sam Dogen, haven't, Dogen, Uber, should've, they're, I'm, he's, it's, Dogen didn't, didn't, you've, I've Organizations: Service, Business, FIRE, Bay Area, Uber Locations: San Francisco, American, Memphis, Houston, Bay
Many forms of help are tied to the federal poverty line, which is calculated using a formula that has largely not been updated since the 1960s. The poverty line is calculated in an outdated wayThe current federal poverty line for the 48 contiguous states and Washington, DC, is $15,060 a year for one person, $20,440 for a family of two, and $31,200 for a family of four. Courtesy of Melissa HeddenMuch of the resistance to changing the federal poverty line could stem from the government's desire not to inflate the number of people in poverty overnight. AdvertisementRep. Kevin Mullin, a Democrat from California, has introduced legislation — called the Poverty Line Act— that would modernize the federal poverty line, taking into account actual costs of goods and how prices differ across regions. Do you make above the poverty line but not enough to meet your daily needs?
Persons: , Jason Hopkins, Hopkins, he's, He's, doesn't, ALICE —, Nyx, Beth Jarosz, Kyle Ross, ALICE, Mollie Orshansky, Jarosz, Stephanie Hoopes, United For ALICE, they've, Melinda Binkley, Ryan Arbuckle, Louis, Oleg Parubin, Parubin, Melissa Hedden, Melissa, Ross, Biden, Kevin Mullin, Mullin, Michael Tubbs, Tubbs Organizations: Service, Business, America, Center for American Progress, Bureau of Labor Statistics, of Health, Human Services, Assistance, Women, Children, United For, SNAP, Bills, Senate Locations: Illinois, Washington, DC, Stillwater , Minnesota, St, Manhattan, Airbnbs, North Carolina, California, Stockon , California, Illinois —
Dogen and his wife are FIREs — financial independence, retire early — who make it work with two kids in one of the US's most expensive cities. I'm only 35 years old, leaving a well-paid job behind, losing so much money," Dogen said. They upped their savings rate and tried to maximize passive income during those years. "One of the interesting phenomena you'll see in the FIRE space is how a man will proclaim he's retired early, but he'll have a working wife," Dogen said. She returned to the company after a few months, making more in a part-time position than she did working full-time.
Persons: Sam Dogen, Dogen, , monetizing, he's, she's, it's Organizations: Service, San, Business, FIRE Locations: New York City, San Francisco
Among opposite same-sex couples, about a third are between 25 and 44, while it's 42% for married same-sex couples. Same-sex couples are much more likely to be interracial than opposite-sex couples — 32.2% of same-sex couples are interracial, compared to 18.6% of married opposite-sex couples and 28.6% of unmarried opposite-sex couples. For married same-sex couples, this number jumps to $123,500, compared to $109,700 for married opposite-sex couples. Unmarried same-sex couples own just 48.7% of the time, slightly above 47.9% of unmarried opposite-sex couples. In nearly two-thirds of same-sex couples, both partners are working, though this drops to 61.9% for married same-sex couples.
Persons: Organizations: Service, Survey, Business, Brookings, American, Gay, Gallup Locations: America, DC, Vermont, Massachusetts, Washington, California, Texas
Related VideoStill, those 50-64 were most likely to work fully remotely, while those 20-29 were least likely. That means they can afford to be fully remote and might feel really comfortable doing things on their own," Barrero said. So that muscle memory might push them to come in more often than younger workers who embrace hybrid." Indeed, many older workers BI has spoken to are divided on whether they want to be in-office or at home — but they're willing to leave roles that don't cater to their preferences. Do you strongly prefer in-office or remote work?
Persons: , Gen Zers, millennials, Nick Bloom, Alex Finan, Jose Maria Barrero, Instituto Tecnológico Autónomo, Barrero, Dennis C, I'm, Charles Bond, they're, Bond Organizations: Service, Business, Employees, Stanford University, Instituto Tecnológico, Business School
She looked to Costa Rica as an option, having visited a few times prior, and she knew the cost of living was cheaper and life was calmer. Between her Social Security and pension, she earned $30,000 a year, not nearly enough to enter an assisted living or retirement community. Moving to Costa RicaShe remembered a trip to Costa Rica in 1995 and visited in 2022 and 2023 to see if escaping retirement in the US by living there was viable. She moved to a condo in the Guanacaste region in northwest Costa Rica earlier this year. While the cost of living is much lower in Costa Rica, the exchange rate between the US dollar and Costa Rican colón has worsened, meaning prices in Costa Rica have recently shot up.
Persons: , Cheryl Sands, it's, Sands, Cheryl Sands Sands, she's, hasn't, She's Organizations: Service, Illinois —, Social Security, Business, Illinois -, Forest, Walmart, Costa Locations: Illinois, Costa Rica, America, Latin America, Aurora, Chicago, Illinois - Kentucky, Shawnee, Guanacaste, Junquillal, Santa Cruz, Southern Illinois, Costa Rican
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDolly Parton, 78, isn't planning on retiring anytime soon — and there's only one reason she would ever step away from her career. This story is available exclusively to Business Insider subscribers. Related storiesThe country legend also featured on Beyoncé's latest album "Cowboy Carter," and announced at the CMA Fest that a biographical musical titled "Hello, I'm Dolly" will arrive on Broadway in 2026. I got to get some more groceries on the shelf and sell some more pies and cakes and brownies," Parton said at the CMA Fest, per Entertainment Tonight.
Persons: , Dolly Parton, I've, Parton, Carl Thomas Dean, Jolene, Carter, Dolly, Vera Wang, Warren Buffett, Queen Elizabeth II, I'm, Wang, who's, Kris Jenner —, Kardashian, Jenner, James Corden, Noah Sheidlower, Kathleen Elkins Organizations: Service, CMA Fest, Entertainment, Business, CMA Locations: Nashville, Rhinestones
Business Insider spoke to five Americans who moved to Latin America, many for their retirements. All agreed that life is in many ways better in Latin America than in the US. She said she feels more welcome in Costa Rica than in Illinois, even with a language barrier. Gary Keenan, 71, disagrees that Costa Rica is cheaper than the US, though he's fine paying the upcharge. Living and working in natureMoving to Latin America has allowed some Americans to advance their careers and retirement goals while living a more serene life.
Persons: , Janet Sussman, Sussman, " Sussman, Cheryl Sands, didn't, she'd, it's, Sands, she's, Gary Keenan, Keenan, Jose Rodriguez, He's, Andy Wiesmann, Medellín, he's, Wiesmann Organizations: Service, Business, Illinois -, Social Security, Costa Rica, US Locations: Florida, New York, Panama, Airbnbs, Latin America, America, Illinois, Illinois - Kentucky, Costa, Guanacaste, Costa Rica, New Mexico, Central, San Jose, Chicago, São Paulo, Brazil, Medellín, Colombia, Inland, Mexico, California, United States, South America
Read previewAmericans are on their way to work — and they probably still have a long way to go. New research first reported by The Wall Street Journal shows that more workers are supercommuting, meaning they're traveling more than 75 miles each way for work. Some trips, they found, are as long as five hours each way, with some starting their commutes at 3 a.m. New York City experienced an 89% surge in supercommuting, from 1.9% to 3.6% of all trips. Phoenix, Arizona — a city that's seen a surge of new residents in recent years and, as a result, soaring housing costs — has also seen supercommuting increase by 57%.
Persons: , Nick Bloom, Alex Finan, Bloom, Finan, Kyle Rice Organizations: Service, Wall Street Journal, Business, metros, Stanford University, WFH Research, Economic Locations: New York City, Los Angeles, Washington, supercommuters . Phoenix , Arizona, Bloom, Willmington , Delaware, Delaware, York
Read previewSam Mitchell, 64, has a yearly income of below $30,000 a year from Social Security. It's a very different way of life from the corporate real estate job he had 15 years ago in Austin making six figures and owning five homes. "I am making a fourth of the money I was making in 2008, but nobody is going to do it." AdvertisementMoving to New York and FloridaTo start life anew, he bought a farm in Peru and built a small house. AdvertisementOnce Social Security payments kicked in, he relied on the $900 a month to get by.
Persons: , Sam Mitchell, they're, Mitchell, It's, Keller Williams, Austin, Sancho Panza, he's Organizations: Service, Social Security, Business, Social, University of Florida, South, Southwest, Austin City, Austin Locations: New York, Florida, Austin, Ithaca , New York, Atlanta, Santa Cruz , California, Costa Rica, South Austin, Peru, Ecuador, California , Oregon, Washington, BestBuy
So he did just that, working slightly fewer hours but maintaining a strong balance between work, family, and hobbies. It's all part of his "life happiness index" that drives his financial and life decisions. Some wanted to resume their past jobs, while others looked to lower-stress roles like nonprofit or charity work. He keeps track of a "life happiness index," which he said is highest when he balances his work with family and hobbies. When considering his "final" retirement, he said he plans to work as long as he enjoys it.
Persons: Jace Mattinson, Mattinson, , wasn't, He's, I've, he's Organizations: Service, Business, Dallas, Brigham Young University Locations: PwC, Dallas, Austin, Texas, Oklahoma
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. This story is available exclusively to Business Insider subscribers. Indeed, Florida hosts some of the best spots to retire, according to a new ranking from real-estate website Realtor.com. AdvertisementWhile Florida is showing up and showing out, you don't necessarily have to head south to find an ideal post-career destination — your affordable retirement might just be down the Jersey Shore. Here are the top 10 spots to retire, according to Realtor.com, what it costs to live there, and what they're best known for.
Persons: , Realtor.com Organizations: Service, Security, Business, Florida Locations: Florida, Jersey Shore
One screenshot from a Lyft driver based in Arizona showed a $2.62 ride that took 15 minutes and traveled 4.32 miles. For some drivers, these sub-$3 trips are a symbol of their broader frustrations with their pay. AdvertisementCompared to January 2023, sub-$3 trips — excluding tips — have become more common for DoorDash, Grubhub, and Uber Eats drivers and less common for Uber and Lyft drivers, per Gridwise. Otherwise, the pay would likely increase if drivers rejected these rides since drivers would be more likely to accept a higher-paying ride. AdvertisementMoises Diaz, a 41-year-old Uber and Lyft driver in California, started driving part-time in December.
Persons: , Sergio Avedian, Guy, Avedian, it's, Lyft, they're, Uber, Grubhub, Gridwise, Randy Scott, he's, Scott, There's, he'll, Moises Diaz Organizations: Service, Business, Research, Gridwise, South, BI, Uber Locations: Arizona, Cleveland , Houston, Fort Lauderdale, Orange County, Los Angeles, Florida, California, South Florida
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