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  • SPY is showing growth...

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  • High job openings, but why unemployment?

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    M

    Skill gap is not only the main issue for the mismatch between the current unemployment rate and the number of job openings. There are many other factors also:

    Candidates want a higher salary, which does not go with the current market rates. Some job seekers do not have the qualifications that companies want. Mismatched job locations. Work culture changes post-pandemic.
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    To minimize the taxes in retirement, you have to do very calculative thinking.

    If your father is still working, tell him to contribute more to traditional IRAs and 401(k)s (both are retirement plans that offer tax benefits); this will reduce his current taxable income.

    To keep up with inflation, select a long-term growth investment plans and tells him to add dividend-paying stocks to boost the portfolio.

    Transfer their pre-tax retirement savings to a Roth IRA, as Roth contributions aren’t tax-deductible, regardless of your income.

    Consult with an expert. He will create a personalized plan for your father according to their savings, income, and tax plans.