Here's the thing about remote work: it works best when you already know what you're doing. Learning on the job is a lot harder when the job is on a screen.
The NY Fed found that remote work explains 64% of the rise in youth unemployment among recent grads.
💌 Do you think the solution is going back to the office, or is there a third option?
Here’s what’s inside:
P.S. If you want to talk through your own finances, you can book a free 1-hour coaching session here ☎️
Did you know…?
How was the first credit card made?
(Actual answer at the end of the newsletter 👇)
Remote work made you hireable… then made you harder to hire
A new study found that remote work explains 64% of the rise in youth unemployment among recent college graduates. Remote work specifically, the shift toward it) restructured the hiring landscape in a way that quietly locked out the people who had the most to gain from getting in.
Here's what happened: companies leaned into remote-first hiring, which meant they could recruit from anywhere. That sounds democratic, but in practice, it raised the floor.
Employers now default to candidates who already have experience, because onboarding and managing someone remotely is harder and more expensive than it used to be.
What this means for you (or someone you know):
👉 If you're job hunting and not getting callbacks, your resume isn't the only variable. The structure of the market has changed. That's not an excuse to stop trying, but it's a reason to stop blaming yourself exclusively and start adjusting your strategy.
👉 Consider roles that are explicitly hybrid or in-person, especially early in your career. It sounds counterintuitive, but in-person roles often come with more training, more visibility, and faster progression. The remote perk can cost you more than it gives you at the start.
👉 Network like the job board doesn't exist. Remote hiring amplified competition from every geography. But a referral from someone inside a company still cuts through. If you're early-career and applying cold, you're competing with everyone. A warm intro narrows that field fast.
👉 Skill-building fills the gap that in-person environments used to fill automatically. Courses, certifications, side projects… they don’t guarantee a job, but they signal initiative when you can't show it in a room.
Your income is the foundation of every financial goal. If everything feels shaky, let's talk here.
The Personal Finance Meter
🚨 Take action
Higher rates aren't just slowing buyers (they're getting them denied)
The mortgage denial rate hit 15.1% in 2024, up from 12.2% in 2021. If you're planning to apply, your debt-to-income ratio needs a checkup before anything else does.
Source📌 Pay attention
Your parents own $25 trillion in homes and most don't have a plan for it
Boomers and the silent generation hold about $25 trillion in real estate, but many haven't set up the documents to pass it on cleanly. Without a will, trust, or transfer plan, that wealth hits probate fast.
Source👀 Keep an eye
Underspending in retirement can cost you just as much as overspending
Being too conservative with withdrawals means missed tax windows and real experiences traded for a bigger statement balance. The fear of running out is valid, but letting it run everything is its own mistake.
Source👌 Looking Up
The US added 172,000 jobs in May (mostly in hospitality, mostly because of the World Cup)
Hiring came in nearly double what economists expected, with bars and restaurants accounting for 48,000 of those jobs as businesses staffed up for the tournament. Real wages are still losing ground to inflation, but the headline number is hard to argue with.
SourceThe Panic Meter reflects our editorial read on urgency — not financial advice.
Skills to learn in the AI era
@startdoingwell skills to nurture in the AI era #careertips #careertiktok #careerchange #careerhacks #jobmarket
By the numbers
$500/month
What a Social Security benefit cut could look like in 2032
That's $6,000 a year, gone overnight. The trust fund is projected to run dry in 2032, at which point only 76% of scheduled benefits would be payable. For someone collecting $2,000/month today, that's a $480 haircut with no warning. Congress has known about this for years and hasn't moved.
26%
The share of women who will need long-term care for more than five years
Women don't just live longer than men on average. They also spend more of that extra time needing paid care, and they're more likely to be doing it alone. In many couples, the husband's care comes first, draining shared assets before the wife enters what experts call "the highest-risk stage of her life." A private nursing home room now runs over $129,000 a year.
47%
How much more Americans are paying for gas than before the Iran war started
Crude fell more than 20% over the month last May, and average gas prices dropped 17 cents from their peak. But at $4.39 a gallon, drivers are still paying nearly half again what they were before the Strait of Hormuz closed. Energy executives are warning that inventories are drawing down fast, and June and July could bring another spike.
Need to talk numbers? We can help you sort out your money.
Poll answer
a) A man forgot his wallet at a restaurant
In 1950, businessman Frank McNamara finished a client dinner in New York, only to find out that he forgot his wallet at home. His wife had to drive over and pay the bill. McNamara couldn't move on from that moment that he spent the next year building the Diners Club card, the first credit card in history.