The market continued its climb Monday after a strong end to last week. All 3 major indexes hit record closing highs. The Dow rose 0.8%, the S&P 500, 0.7%, and the Nasdaq, 1%.
Markets were flat Tuesday afternoon.
As President Joe Biden's American Rescue Plan makes its way through Congress, there has been talk about changing the eligibility of those receiving the $1,400 stimulus checks. But when Democrats released more details about the bill Monday night, the income thresholds for those eligible for the payments had not changed.
The latest proposal would send $1,400 payments to individuals earning up to $75,000 per year and $2,800 to married couples earning up to $150,000 per year.
Video by Helen Zhao
College graduates earn 67% more per week on average than those with a high school degree, according to the Bureau of Labor Statistics. But you don't necessarily need a college degree to find a better-paid job.
"Our researchers have found that many workers already possess the skills they need to increase their income — all they might need is a little additional training," said Patrick Harker, CEO of the Philadelphia Federal Reserve, in a recent speech.
Upskilling means learning new skills in order to find better-paid work. The Federal Reserve of Philadelphia estimates upskilling could help workers without a bachelor's degree earn $15,000 more per year.
Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.
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