About 7% of U.S. companies offered unlimited paid time off (PTO) as an employee benefit in 2024, up from just 1% in 2014.1 When companies adopt unlimited PTO policies, there is no specific cap on the number of paid vacation and/or sick days employees can take, although requests for time off are typically subject to a manager's approval. With traditional benefit programs, long-time employees accrue more paid vacation days than newer hires. On average, private-industry employees in the United … [Read more...]
Could Employee Ownership Be Part of Your Succession Plan?
An employee stock ownership plan (ESOP) is a type of qualified retirement plan that enables a business owner to gradually transfer ownership shares to employees. Moreover, establishing an ESOP sets up opportunities for the owner of a closely held business to cash out (in whole or in part) in the future, while keeping the company going for employees and the community. An ESOP may be a good option for small-business owners who don't plan to pass the reins to family members when they retire, but … [Read more...]
Three Ways to Help Build Financial Resilience
Roller-coaster markets, global events, and unexpected life changes can catch you off guard. Little wonder that you might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience you need to help handle challenging times and hopefully emerge even stronger. Fortify your foundation Developing a new budget or reviewing an existing one may help reduce stress and feelings of vulnerability by reminding you that you still have … [Read more...]
Erb Financial: August Newsletter 2025
Link to Printable PDF: 2025 08 August Newsletter Cost Is a Key Factor in College Selection With college tuition rising every year, it's not surprising that cost is one of the most important factors for families when choosing a college. Cost, location, financial aid package, and the availability of a specific academic program topped the list when families were asked why students chose the college they did for the 2023–2024 year. Still, 86% of families believe a college degree will create … [Read more...]
Staycations Are About More Than Saving Money
In March 2025, 61% of respondents to a travel-related survey expressed concern that a recession might impact their vacation plans. The same percentage were planning a staycation instead.1 Common during the pandemic when air travel and large crowds were not viable options, staycations involve spending your vacation at or near home. While they may be a great way to save money, staycations can also help you reduce stress, one of the primary reasons many people take time off. Address … [Read more...]
Navigating Financial Conversations with Aging Parents
Having a conversation with your parents about their finances can seem like a daunting task. However, it is an essential step in helping to ensure their financial well-being as they get older. Here are some practical tips to help you navigate these discussions. Start the conversation Talking about money can be difficult. However, it's important to initiate a financial conversation with your parents before they become too ill or incapacitated. Your parents may be unwilling to talk … [Read more...]
Consider Munis for Tax-Free Income
In 2024, the municipal bond market saw record trading for the third consecutive year. New issues also set a record at $508 billion, the first time muni issues exceeded $500 billion. The trend continued through the first quarter of 2025, with trades and new issues both higher than the first quarter of 2024.1 This increased activity was primarily driven by individual investors attracted to higher yields that coincided with the Federal Reserve raising interest rates to combat … [Read more...]
Cost Is a Key Factor in College Selection
With college tuition rising every year, it's not surprising that cost is one of the most important factors for families when choosing a college. Cost, location, financial aid package, and the availability of a specific academic program topped the list when families were asked why students chose the college they did for the 2023–2024 year. Still, 86% of families believe a college degree will create opportunities that wouldn't be available otherwise, and 79% are willing to stretch themselves … [Read more...]
Erb Financial: July Newsletter 2025
Link to Printable PDF: 2025 07 July Newsletter Travel Spending Surpasses Pre-Pandemic Levels Spending by foreign visitors in the United States, including fares on U.S. airlines, is considered an export for purposes of U.S. gross domestic product, while spending by U.S. citizens in foreign countries and on foreign airlines is considered an import. Both types of travel spending were hit hard by the pandemic but surpassed pre-pandemic levels in 2024. However, prior to the pandemic, … [Read more...]
Family Fun for Less: Tips to Help Cut Costs on Your Next Vacation
Rising prices can make planning a budget-friendly family vacation challenging. In fact, the average cost for a week-long vacation for a family of four to a theme park can easily run upwards of $6,000.1 Consider these saving strategies when planning your next family getaway. Set a budget. Your first step should be to set a realistic budget for your vacation. Start out by determining the amount of money you are able to spend on your trip. Next, identify your vacation expenses. These include … [Read more...]
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