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  • Newsworthy people and performances for June 26, 2023

    A roundup of new hires, promotions and achievements from businesses and nonprofits throughout Maine.

  • Education is at the heart of workforce development

    There are very few jobs available right now that don’t require some level of education or training. We hear it all the time at Mainebiz, but employers of all kinds are struggling to find workers.At the front end, employers are offering higher wages or salaries, signing bonuses and incentives like flex time or hybrid work. But to be ready to move into those positions, potential employees need education and/or training.

Today's Poll

How confident are you that your long-term savings or financial plans are where you need them to be at this point?
Poll Description

Sponsored by: GoNetspeed, a fiber internet provider

Despite economic uncertainty and sharp swings in the stock market, Americans' retirement accounts grew in size during the second quarter of 2023, Fidelity Investments recently reported. The quarter was the third consecutive period to show an increase in account balances.

The average IRA balance grew to $113,800, up 5% from the previous quarter and a 41% increase from 10 years ago, according to nationwide data compiled by Fidelity.

The average 401(k) balance jumped to $112,400, a 4% increase from the previous quarter and a 39% increase from 10 years ago. 

At the same time, the average 403(b) balance increased to $102,400, 5% more than the amount in the previous quarter and a whopping 65% spike from 10 years ago.