Maximize Your 401k Contributions in 2024: A Guide with Calculator
New updates to the 2023 and 2024 401k contribution limits. Use a free paycheck calculator to gain insights to your 401k and financial future.
A pay increase my be in your future.
The job market is growing. Last month, the unemployment rate fell to its lowest percentage in a decade – 4.4%, according to the Department of Labor. Because of this, it’s harder to fill more open jobs, and workers are more willing to make shifts in their careers. There are currently 5.7 million job openings in America, but the pace of hiring has slowed. And that means potentially more money in your own paycheck. Why?Because of the difficulty employers are facing in finding new employees and retaining current employees, many are opting to boost wages and benefits to lure and keep their staff. Smaller companies are facing the greatest challenging finding new talent, making these companies more likely to offer promotions and raises. Overall, as the jobless rate goes down, wages go up. The rate could be higher, according to the DOL, because factoring in employers who have permanently left the workforce – i.e. retirees – holds back stronger gains. As more and more baby boomers reach retirement age, this may affect the rate of wages continuing to go up, because the other labor participation pool will bottom out. But for now, expect more in a paycheck. What could you do with a wage increase? Use our calculators to imagine scenarios now.
New updates to the 2023 and 2024 401k contribution limits. Use a free paycheck calculator to gain insights to your 401k and financial future.
Unlock the secrets of your 2023 bonus taxes with our guide, and use our Bonus Pay Percent Calculator for an instant breakdown of your take-home pay.
It’s the 2023 holiday season, and for fortunate employees, that means an end-of-year bonus! Yet many employees are disappointed when their bonus lands in their bank – usually a lower amount than anticipated. Here's a quick guide to help workers understand how bonuses are taxed.