Warren Buffet once said, “If you don’t find a way to make money while you sleep, you will work until you die.” And, the Oracle of Omaha isn’t exactly wrong.
The Bureau of Labor Statistics reported in 2019 that 8.3 million Americans worked multiple jobs. And, 49.4 percent of married-couple families included both spouses working. The reason? Well, according to a 2020 Sage study, this is “due to inflationary pressures in product markets including rising housing prices and child care costs coupled with relatively flat wage trends.”
What’s more, retirement plans have evolved from defined benefits to defined contribution plans. In turn, this leads to more dual-earner households being formed.