money

President Trump’s social media platform went public in 2024.

Fact checked by Suzanne Kvilhaug
Reviewed by David Kindness

Truth Social, an alternative social media platform started by President Donald Trump, makes money from advertising. According to Trump Media & Technology Group (TMTG), the company believes free and open communication, particularly political speech, is essential to self-government and democracy.”

After its initial public offering (IPO) in March 2024, TMTG was valued at nearly $8 billion at market close on the first day of public trading.

Key Takeaways

• Truth Social is a social media platform created by Donald Trump as an alternative to platforms such as Facebook, Instagram, and X.
• Truth Social generates revenue by offering paid advertising.
• Trump Media & Technology Group (TMTG) went public in March 2024.

Truth Social’s Business Model

Like Facebook, Instagram, and X, Truth Social generates revenue by displaying digital advertisements on its users’ feeds. The site seeks to grow its user base to “drive more unique content, which in turn will drive the viral, organic promotion of content on Truth Social, thereby attracting more platform partners and advertisers.”

Truth Social does not track “traditional key performance indicators, such as signups, average revenue per user, ad impressions and pricing, or active user accounts including monthly and daily active users.” It tries to attract users and advertisers who seek an alternative online forum to mainstream media. 

In March 2024, TMTG, the owner of Truth Social, had its IPO and was valued at around $8 billion on its first day at market close. Before the public offering, TMTG’s operations were funded primarily through “loans or offerings of securities exempt from the registration requirements of the Securities Act.”TMTG notes that its success will align with “the reputation and popularity of President Trump” and that the “value of TMTG’s brand may diminish if the popularity of President Trump were to suffer.”

Truth Social’s Financials

Truth Social initially launched for iOS in April 2022, was released as a web app in May 2022, and supported by Android in October 2022. It became available internationally in June 2023. The adjunct video service Truth+ enables users to watch the news, shows, and movies.

According to the 2024 Annual Report filed with the Securities and Exchange Commission (SEC), all of Truth Social’s 2023 revenue was derived from advertising. However, the company reported a net loss of approximately $58.2 million, down 215% compared to the net income reported in 2022, of $50.52 million. Truth Social incurred considerable interest expenses, approximately $39.43 million in 2023, relating to convertible promissory notes.

Under the “Risk Factors” section of its 2024 10-K report, TMTG states that it “expects to incur operating losses for the foreseeable future,” citing its efforts to “improve its business model by developing its technology as an early stage company.”The report states “There is limited operating history upon which to base any assumption as to the likelihood that TMTG will prove successful, and TMTG may never generate sufficient operating revenues to achieve profitable operations. If TMTG is unsuccessful in addressing these risks, its business will most likely fail.”

Note

Devin Nunes serves as the CEO of TMTG, the company that controls Truth Social.

Company Outlook

In Nov. 2024, Donald Trump was elected president of the United States, defeating his opponent Kamala Harris. Since his inauguration on Jan. 20, 2025, President Trump has continued to use Truth Social as his social media platform under the handle @realDonaldTrump to address domestic and global issues.

In Jan. 2025, Trump Media and Technology Group Corp.’s board of directors approved a financial services and technology strategy to launch the FinTech brand Truth.Fi.

How Many Active Users Does Truth Social Have?

As of 2024, Truth Social’s active user count is unknown and does not adhere to traditional key performance indicators. It also notes that “since its inception…it has not been maintaining internal controls and procedures for periodically collecting such information, if any.”

Is Truth Social Free to Join?

Truth Social is free to join. However, users must be at least 18 years old to create an account.

Where Is Truth Social Listed?

Trump Media & Technology Group, which owns Truth Social, is listed on the Nasdaq under the ticker symbol DJT, the initials of President Donald Trump.

How Truth Social Faced Any Legal Battles?

The company has had a history of legal issues. Trump sued the co-founders of Truth Social right before the IPO in March 2024, alleging that they mismanaged the setup and public offering of the company. The lawsuit was in response to one that the co-founders filed against Trump in February 2024, claiming that he and other company leaders were trying to deprive them of a stake in the company potentially worth hundreds of millions of dollars.

The Bottom Line

Truth Social aims to make money from advertising revenue and increase its product offerings and services. It will also “actively seek out opportunities” to acquire and partner with entrepreneurs who cater to “conservatives across various industries.”

Fact checked by Suzanne Kvilhaug
Reviewed by Charlene Rhinehart

Life insurance can help you protect your loved ones from financial strain, but it’s also a major investment. Over a period of years, a lower premium can yield major savings. When you’re pricing life insurance policies, you’ll want to consider the major factors that insurers use to calculate the cost of your premiums.

Some factors considered for life insurance are beyond your control, such as your age. However, you can take steps to lower your life insurance premium in other ways, including making lifestyle changes and improving your health.

Key Takeaways

• Life insurance is a financial tool that helps you provide for your loved ones after your death, but it’s also a significant investment.
• Many factors contribute to the cost of your premium, whether you qualify for discounts, and even whether you can be covered by a given carrier.
• Age is the most important factor in determining your premium cost. The younger you are, the lower your payments.
• Gender is also a key factor in life insurance costs, as women generally live longer than men.
• Insurance companies also consider your health, lifestyle, family medical history, driving record, whether you smoke, and more.

1. Age

The primary factor affecting the cost of life insurance premiums is age. Life insurance policies are less expensive for younger people with longer life expectancies and less likely to get ill. In some cases, you may not even qualify for life insurance if you are over a certain age.

Typically, the life insurance premium cost increases from 8% to 10% on average for every year of age. Essentially, the longer you wait to buy life insurance, the more you will have to pay for premiums. With term life insurance, your premium remains the same every year. However, after your term life insurance expires, should you buy insurance again, your premium will likely be higher because you are older and your health status may have changed.

The premiums for whole life insurance should stay the same throughout the policy, although they will usually be higher than the rates for a term policy with the same death benefit. Qualifying medical exams are likely to get more stringent as you age.

2. Gender

Gender is also a significant factor in the price of life insurance. Insurance carriers use statistical models to approximate how long someone with a specific profile will be around. Women, on average, live nearly five years longer than men, so they have lower rates.

3. Smoking

Smoking puts you at a higher risk for many health problems. Thus, life insurance companies charge more to insure smokers. In fact, smokers may pay more than twice as much as non-smokers for comparable coverage.

An insurance company may classify you as a smoker even if you occasionally smoke cigarettes, cigars, or vapes.

Warning

If you lie to your insurance company about your smoking habits and get caught, your policy could be canceled.

4. Health 

The underwriting process for most carriers includes a medical exam in which the company records your height, weight, blood pressure, cholesterol, and other vital metrics. It may also require an electrocardiogram (ECG or EKG) to check your heart.

It’s important to manage serious conditions such as high cholesterol and diabetes before searching for coverage to ensure a competitive rate. Some companies offer “no exam” policies, but expect to pay more for this coverage.

5. Lifestyle

If you lead a risky lifestyle with hobbies such as racing cars, scuba diving, or rock climbing, you’ll probably have to pay substantially more for insurance. Some companies also charge more if you have a relatively dangerous profession, such as police officer or miner.

6. Family Medical History

Having a family history of stroke, cancer, or other serious medical conditions may predispose you to these ailments and result in higher life insurance rates.

Carriers are usually interested in any conditions your parents or siblings have experienced, especially if they have contributed to a premature death. Some life insurance companies factor in your family’s health history more than others.

7. Driving Record

Many life insurance companies will look at your driving record during the underwriting process. Whether or not they ask about violations on the application, they can access your Department of Motor Vehicles records to find out if you have any concerning violations.

Remember that the last three to five years carry the most weight. So, if you’ve improved your driving habits since then, you may benefit from a more favorable price.

What Is the Age Limit for Life Insurance?

Each life insurance company and policy will have its own age limit for applicants to qualify for life insurance. Generally, the older you are, the more difficult it will be to get life insurance. Many life insurance companies do not offer life insurance policies after you reach a certain age (such as 85).

How Does Gender Affect Life Insurance Premiums?

Men generally pay more for life insurance than women because they have a shorter life expectancy. However, gender is not the only factor that determines premium prices. Other factors, such as lifestyle and age, can make one policy more expensive than another for different people.

What’s the Best Age To Get Life Insurance?

The younger you can purchase a life insurance policy, the more affordable it will be. When you buy life insurance, you’ll also want to consider your income and coverage needs.

The Bottom Line

Life insurance is a common financial tool that can provide security for your loved ones who depend on you. A life insurance policy can give you peace of mind that your beneficiaries won’t face financial hardships if you die. However, life insurance can also be a significant expense and is not necessarily ideal for everyone.

Familiarize yourself with different types of life insurance, such as term, whole, and variable life insurance. Then, consider consulting with a financial professional to determine which life insurance may be right for your situation and goals and how to reduce your premium costs.

Reviewed by Eric Estevez
Fact checked by Suzanne Kvilhaug

To discount cash flow properly, you first need to be familiar with how to calculate the smaller components of the formula—notably, free cash flow to the firm (FCFF). FCFF is simply the cash flow available after the firm pays all operating expenses, taxes, and other costs of production. In this article, we look at why it’s so important and how to calculate it. We also look at another key component of the discount cash flow formula, which is the weighted average cost of capital (WACC).

Key Takeaways

• Free cash flow to the firm is the cash flow that a company has after accounting for expenses and investments.
• FCFF can be used to determine a company’s financial health and well-being.
• Discounted FCFF should be equal to the sum of a company’s cash inflows and outflows
• Although there are different formulas to calculate FCFF, the easiest method starts with EBTIDA.
• The weighted average cost of capital, which is another component of the discounted cash flow formula, estimates the weighted cost of all capital sources.

What Is Free Cash Flow to the Firm (FCFF)?

Free cash flow to the firm is the cash flow from operations that is available to distribute after distribution, expenses, taxes, working capital, and investments are deducted. Put simply, it measures a company’s profitability after accounting for any expenses and reinvestments. Investors and analysts typically use it as a way to determine a company’s financial well-being.

Discounted FCFF should be equal to all of the cash inflows and outflows, adjusted to present value by an appropriate interest rate, that the firm can be expected to bring in during its lifetime. It’s a form of time value analysis – how much an investor would pay today to have the rights to all future cash flow.

Note

Free cash flows aren’t readily available. Financial analysts have to interpret and calculate free cash flows independently. Keep in mind that FCFF is distinct from free cash flow to equity, which does not account for bond creditors and preferred shareholders.

Calculating Free Cash Flow to the Firm (FCFF)

Several competing formulas exist for FCFF. A relatively simple version starts with earnings before interest, taxes, depreciation, and amortization (EBITDA). It can be written as:

$begin{aligned} &text{FCFF = EBITDA}timestext{(1}-text{ TR) + DA }timestext{ TR + WC }-text{ CE}\ &textbf{where:}\ &text{EBITDA = Earnings, before interest, taxes, and depreciation}\ &text{TR = Tax rate}\ &text{DA = Depreciation & amortization}\ &text{WC = Changes in working capital}\ &text{CE = Capital Expenditures}\ end{aligned}$​FCFF = EBITDA×(1− TR) + DA × TR + WC − CEwhere:EBITDA = Earnings, before interest, taxes, and depreciationTR = Tax rateDA = Depreciation & amortizationWC = Changes in working capitalCE = Capital Expenditures​

Weighted Average Cost of Capital (WACC)

As noted above, another key component of discounted cash flow is the weighted average cost of capital. Firms rely on the WACC to estimate the weighted cost of all sources of capital. This includes a company’s stock (common and preferred shares), bonds, and other debt. It’s a way to allow managers to see how efficiently they finance operations.

The formula for WACC can be written as:

$begin{aligned} &text{WACC}=frac{text{VE}}{text{SEDV}}timestext{CE}+frac{text{VD}}{text{SEDV}}timestext{CD}timesleft(1-text{CTR}right)\ &textbf{where:}\ &text{VE = Value of equity}\ &text{SEDV = Sum of equity and debt value}\ &text{CE = Cost of equity}\ &text{VD = Value of debt}\ &text{CD = Cost of debt}\ &text{CTR = Corporate tax rate}\ end{aligned}$​WACC=SEDVVE​×CE+SEDVVD​×CD×(1−CTR)where:VE = Value of equitySEDV = Sum of equity and debt valueCE = Cost of equityVD = Value of debtCD = Cost of debtCTR = Corporate tax rate​

Simple Approach to Discounted Free Cash Flow to the Firm (FCFF)

One simple definition of the value of a firm (and one taught in CFA courses) is equal to the endless stream of free cash flows discounted by WACC. However, much depends on the estimated growth of the firm and whether that growth will be stable.

A single-stage, steady-growth estimation of discounted FCFF can be expressed this way:

$frac{text{FCFF}}{text{WACC }-text{ Growth Rate}}$WACC − Growth RateFCFF​

Multistage models are considerably more complex and best performed by those comfortable with calculus.

Forecasting Future Cash Flows

Predicting future growth and net cash flows is an inexact science at best. There are two common approaches in the financial literature: applying historical cash flow and predicting changes in the underlying components of cash flow.

• It’s easy to use the historical method. If firm fundamentals are solid and not expected to change in the foreseeable future, analysts can apply the historical free cash flow rate.
• The underlying components method isn’t as easy. Revenue growth is matched to the expected returns and costs of future capital expenditures, which include fixed capital replacement and expansion, any depreciation, and changes in working capital.

Do not confuse physical fixed capital, such as machines and factories, with capital financing from debt and equity.

How Do You Read Free Cash Flow to the Firm?

Free cash flow to the firm is the cash flow from a company’s operations that is available for distribution after accounting for depreciation, expenses, taxes, working capital, and investments. It is commonly used to determine the value of a company’s stock.

If a company has a positive FCFF, you may assume that the company has capital available after deducting its expenses. A negative value, on the other hand, means the firm didn’t generate enough money to pay for its costs and investments. As an investor, you’ll want to do more research to understand why there may be a deficit.

What’s the Difference Between Free Cash Flow to the Firm and Cash Flow?

Free cash flow to the firm is the money a company has after accounting for things like expenses, taxes, depreciation, amortization, and investments. Put simply, FCFF is the capital a firm has available after accounting for expenses and capital expenditure. Cash flow, on the other hand, is the amount of money that moves into and out of a company over a certain period. Cash flow is positive when more money moves in, while a negative cash flow is the result of more outflows.

Why Should Investors Care About a Company’s Cash Flow?

Cash flow represents the amount of money that moves in and out of a company within a certain period. It is an indicator of its financial health and well-being.

The Bottom Line

There are many metrics you can use to analyze whether a company is financially viable or is in distress. The free cash flow to the firm indicates what money a company has left over after accounting for its expenses and investments. Keep in mind that it’s always important to use multiple metrics when making your investment decisions. And be sure to compare them to similar companies across the same industry so you make more sound judgments.

Fact checked by Vikki Velasquez

ChatGPT, the powerful AI chatbot launched in 2022 by OpenAI, can support your wealth-building goals by helping you evaluate the market and potential new revenue ideas. Below, we walk through four of the many ways you can use ChatGPT to make money.

Key Takeaways

• ChatGPT’s strengths for investors include its ability to quickly compile background information on potential investment targets and generate guidelines for investing thoroughly and thoughtfully.
• AI platforms may not always have access to the latest data and news, so cross-check other sources.
• ChatGPT is adept in devising and planning marketing and social media campaigns, which can help small businesses and entrepreneurs.
• As a generative AI tool, ChatGPT can instantaneously create written content to aid a business, including blog posts, articles, how-to guides, investor letters and appeals, and much more.

1. Background Research

When it comes to investing, knowledge is key to generating returns. Investors can employ ChatGPT to do crucial background research on potential investment targets—including earnings and revenue trends, key product launches and developments, newsworthy company updates, and much more. 

Warning

ChatGPT does not necessarily have access to all of the most recent information, so verify facts before proceeding.

2. Investment Planning

ChatGPT can help you save time and ensure you’re on track for investment success by providing a step-by-step guide. It can also assist in thoroughly assessing your financial goals, time horizon, risk tolerance, and portfolio diversification, as well as preparing side-by-side comparisons of brokerages.

Important

Keep in mind that ChatGPT is not a tax professional or a certified financial advisor; all information gathered from ChatGPT should be confirmed directly for accuracy when possible.

3. Marketing and Social Media Management

ChatGPT can save entrepreneurs time identifying target audiences, generating marketing copy and other materials, and planning social media campaigns. These efforts may translate into additional clicks, website visits, and even sales for small business owners. For the greatest success in these efforts, consider using ChatGPT to generate a template that you then tweak and personalize to match the tone and style of your business.

4. Content Creation

As a generative AI platform, ChatGPT can help create customized written content. Entrepreneurs may put ChatGPT to work to help write blog posts and articles, generate how-to guides, complete surveys and fundraising appeals, and much more. But everything will need to be edited by a human to ensure accuracy. The potential applications of ChatGPT to assist with content for your business are limitless.

Warning

If you’re using ChatGPT to help generate content, be sure to edit, fact check, and adjust in your own voice.

The Bottom Line

The beauty of ChatGPT as a tool to build wealth is that it is incredibly versatile. This platform can help to brainstorm ideas, quickly generate written material, and gather, consolidate, and summarize information. Investors looking to incorporate ChatGPT into their work are limited only by their own imaginations.

Reviewed by JeFreda R. Brown
Fact checked by Kirsten Rohrs Schmitt

The market for fully electric vehicles is growing. The reasons are many, including new regulations on safety and vehicle emissions, technological advances, and shifting customer expectations. But much of the mainstream acceptance and excitement for electric cars can be attributed to Tesla Motors Inc. (TSLA) and its unique business model.

Tesla founder and CEO Elon Musk launched the company with the mission, “to accelerate the advent of sustainable transport by bringing compelling mass-market electric cars to market as soon as possible.” This mission is the backbone of Tesla’s successful business model. 

Key Takeaways

• Tesla’s business model is based on direct sales and service, not franchised dealerships.
• Tesla’s business model pays particular attention to rolling out charging stations. That may be the biggest obstacle to the mass adoption of electric vehicles.
• Tesla has stretched the business model to encompass energy storage systems for homes and businesses.

Tesla’s First Product

Tesla took a unique approach to establish itself in the market. Instead of trying to build a relatively affordable car that it could mass-produce and market, it took the opposite approach, focusing instead on creating a compelling car that would create a demand for electric vehicles.

In a post on Tesla’s website, Musk said this about the company’s mission: “If we could have [mass-marketed] our first product, we would have, but that was simply impossible to achieve for a startup company that had never built a car and that had one technology iteration and no economies of scale. Our first product was going to be expensive no matter what it looked like, so we decided to build a sports car, as that seemed like it had the best chance of being competitive with its gasoline alternatives.”

So, Tesla delivered to the market the first high-performance electric luxury sports car, the Tesla Roadster. The company sold approximately 2,500 Roadsters before ending production in January 2012. That’s not a number that would fray any nerves at General Motors.

The Next Stage

Once Tesla established its brand and produced and delivered its concept car to the marketplace, it reinforced its business model. Tesla’s business model is based on a three-pronged approach to selling, servicing, and charging its electric vehicles.

Direct Sales

Unlike other car manufacturers who sell through franchised dealerships, Tesla sells directly to consumers. It has created an international network of company-owned showrooms and galleries, mostly in urban centers.

By owning the sales channel, Tesla believes it can gain an advantage in the speed of its product development. More importantly, it creates a better customer buying experience. Unlike car dealerships, Tesla showrooms have no potential conflicts of interest. Customers deal only with Tesla-employed sales and service staff.

Including the showrooms, Service Plus centers (a combination of retail and service center), and service facilities, Tesla has 1,359 locations around the world as of the end of 2024. Tesla has also made use of internet sales—consumers can customize and purchase a Tesla online.

Home Services

In some areas, Tesla employs Mobile Service Support (formerly called Tesla Rangers)—mobile technicians who make house calls. In some cases, the service is delivered remotely. The Model S can wirelessly upload data, so technicians can view and fix some problems without ever physically touching the car.

Supercharger Network

Tesla has created its own network of over 60,000 Global Superchargers where drivers can charge their Tesla vehicles in about 15 minutes for a quarter of the price of gasoline. The purpose, of course, is to speed up the rate of adoption of electric cars by making it cheaper and easier to keep them running.

Tesla’s Models

Tesla entered the market with the sporty Roadster. When it introduced its Model S sedan in June 2012, it stopped producing the Roadster.

Tesla began delivering its first SUV, the Model X, in September 2015. In 2025, its base price is $81,880.

The first Model 3 deliveries kicked off in July 2017 as Tesla’s entry into the category of affordable cars. In 2025, its base model starts at $44,130.

In 2020, Tesla began producing the Model Y, a compact crossover SUV based on its Model 3. In 2025, its base model starts at $46,880. Tesla is also promising to deliver a redesigned Model Y in March 2025, with a base price of $61,630.

In 2023, Tesla introduced the Cybertruck, a pickup truck with a body design resembling low-polygon modeling, consisting of flat stainless steel sheet panels. In 2025, its base model starts at $82,235.

$200,000

The base price of the 2026 supercharged Tesla Roadster, touted as “the quickest car in the world.”

Tesla has combined many of its sales centers with service centers, including charging stations. They believe that opening a service center in a new area corresponds with increased customer demand. Customers can charge or service their vehicles at the service centers or the Service Plus locations.

Tesla also produces a fully electric Semi. The semi-trailer truck boasts an energy consumption of less than 2 kilowatt-hours (kWh) per mile. The company claims it can go 400 miles on a 30-minute charge now, and it’s working on stretching that to more than 600 miles in the future. UPS was among the companies that put in preorders for the truck, introduced in 2019. Production and delivery began in 2022.

Tesla’s latest model is a supercharged version of the original Roadster, which the company claims is the “quickest car in the world,” capable of going 0–60 in 1.9 seconds. Deliveries of the new Roadster were expected in 2023, with a base price of $200,000. But the 2023 deadline was missed, and in October 2024, Musk failed to confirm whether the Roadster will arrive in 2025.

Interested individuals can reserve a new Roadster for a $5,000 initial card payment and a $45,000 wire transfer, which is due within 10 days after making the initial payment.

Other Tesla Products

If you recall, part of Tesla’s mission is “to accelerate the advent of sustainable transport.” To that end, Tesla sells powertrain systems and components to other auto manufacturers.

In April 2015, it introduced a line of home batteries, called the Powerwall, that serve as energy storage systems in homes or businesses. They are meant to connect with a solar energy system and can be used as backup power when power is interrupted or peak demand is high. Tesla also sells solar panels and full solar roofing, which is a roof made up of solar panels that still looks like a roof.

Like its rival automakers, Tesla offers financial services including vehicle loans and leases. For some of the loan programs, it used to offer a resale value guarantee provision. This provided some downside protection on a vehicle’s value should the customer want to resell it.

Is Tesla a Tech Company?

Many financial analysts and investors see Tesla as a technology company rather than a car company. At least, that’s how they justified the growth of its stock price starting in 2013, when it shot up by more than 300% within a single year.

Publications scrambled to find similarities between Tesla and companies from the technology sector, which had similar growth rates. Online publication Slate even ran a piece that compared Tesla to Apple Inc. (AAPL) and Alphabet Inc. (GOOGL and GOOG).

Back then, Morgan Stanley analyst Adam Jonas, who had been a Tesla bull since the company’s early days, gave the stock a price target of $103 “at full maturation.” By May 25, 2022, TSLA was trading at $661.58. As of Feb. 4, 2025, TSLA stood at $392.21.

There are several points of similarity between Tesla and the tech sector. Tesla has embraced the disruption credo of the tech sector. Much like other tech companies, Tesla is intent on changing existing business models within the stodgy automotive industry by selling directly to consumers. Its product pipeline and founder evoke a loyal following similar to those for iconic tech companies such as Apple.

And investors in Tesla, like investors in many technology companies, stayed patient through a long period of quarterly losses. They were finally rewarded: Tesla recorded its first yearly profit in fiscal year 2021.

What’s Next for Tesla?

Tesla founder and CEO Elon Musk has been promising robo-taxis, a self-driving car that operates for a ride-sharing company. The robo-taxis would require fully autonomous capabilities. Musk had said they would be out in October 2024, after a set of delays. That deadline was missed, but in January 2025, Musk said robo-taxis would debut in June 2025 with a paid ride-hailing service in Austin, Texas.

How Did Tesla Do Last Year?

In 2024, Tesla delivered 1.78 million cars worldwide, keeping its position as the top-selling electric vehicle (EV) brand globally. However, this was a slight decline from 2023, when Tesla delivered 1.8 million cars worldwide.

What Is Tesla’s Market Capitalization?

Tesla’s market capitalization is $1.26 trillion as of Feb. 4, 2025. Market capitalization, or market cap, represents the total dollar market value of a company’s outstanding shares of stock. Investors use this figure to determine a company’s size instead of sales or total asset value.

The Bottom Line

This is the biggest obstacle to the mass adoption of electric vehicles: It can’t happen without the infrastructure to charge on the go. Tesla plans to continue adding to its network of Supercharger stations in the United States, Europe, and Asia.

Tesla did not invent the electric car or even the luxury electric car. But Tesla did invent a successful business model for bringing compelling electric cars to the market. Part of the strategy was building a network of charging stations to solve one of the greatest obstacles facing the adoption of electric vehicles: refueling on long trips. Tesla’s unique business model, which includes keeping control over sales and service, is one reason its stock soared since its initial public offering. 

Reviewed by Somer Anderson

As with most other professions, individuals in the employee benefits field often seek to obtain various designations to demonstrate their level of knowledge of retirement planning. However, as with other professions, not all employee benefit designations are created equal.

Professionals must ensure that they choose designations to satisfy their objectives. For this article, we use the term “employee benefit” to refer to retirement plans, such as 403(b) arrangements, 457 plans, individual retirement accounts (IRAs), and other qualified plans.

Key Takeaways

• Like experts in many fields, employee benefits experts can move ahead in their careers or expand their client bases by seeking out and receiving various designations.
• An employee benefits expert might seek a designation if they are new in the field, looking to earn a promotion or change jobs, looking to gain expertise in a specific area, or increase their marketability.
• In choosing a designation, consider the educational institution’s reputation, whether the designation meets basic requirements, includes continuing education (CE) requirements, and all costs.

Why Get a Designation?

There are many employee-benefit professionals who are experts in their fields and don’t need to take a course to further educate themselves in these areas. In fact, some of these individuals are knowledgeable enough to teach professional designation courses.

However, obtaining a designation may still be necessary, depending on your goals and objectives. For someone who is new to the field, designations can be important, as the path to obtaining the designation usually provides much of the technical knowledge that’s needed to be an expert in their field.

Below are some examples of cases where a professional designation can help.

Looking to Change Jobs

Someone who’s been working with one employer for an extended period likely would have garnered enough knowledge to be considered an employee-benefits expert. However, while the individual’s current employer and colleagues may be well aware of this person’s expertise, it may not be as apparent to a potential employer, who might need to validate their expertise beyond what is stated in their resume.

Although recommendations from former supervisors and employers can help, a professional designation is often a more acceptable means of assessing an individual’s level of knowledge.

For example, an employer seeking someone to perform third-party administrative services may be more apt to hire a candidate with the Qualified Pension Administrator (QPA) designation, versus someone who is a Certified IRA Services Professional (CISP). This is because the American Society of Pension Professionals & Actuaries (ASPPA), which issues the QPA, requires more in-depth courses about the practical aspects of third-party administration.

On the other hand, a firm that provides support for general IRA topics may find the CISP designation, issued by the American Bankers Association (ABA), more suitable for its business needs.

Seeking a Promotion

When seeking professional advancement, obtaining a professional designation may help to set an individual apart from the competition, especially when other qualified individuals have similar education and experience. The professional designation not only shows dedication to improving oneself professionally, but it also helps to confirm that the individual is an expert in their field can handle critical related issues.

Continuing Education (CE)

Completing the courses necessary to obtain a professional designation is one of the best ways to learn about the rules and regulations that govern employee benefits plans. Most courses cover a specific area’s fundamental rules and regulations and guide the student through complex material that usually leads to a better-than-average understanding of the subject matter.

Choosing a Designation Provider

It is becoming increasingly common for organizations that provide retirement education and information to offer their own designations. And while many of these involve completing relevant course material and examinations, they may not provide as much influence with employers and clients as those offered by the better-known educational organizations.

The table below cites some designations offered by reputable, well-established organizations. You may view the details, including costs and continuing education (CE) requirements by clicking on the hyperlinks.

Some of these organizations go beyond providing education, which helps to enhance their reputations. For instance, ASPPA is often involved with influencing legislative and regulatory developments in the employee benefits field.

Choosing a Designation

In addition to choosing an educational institution with a good reputation, professionals should ensure that the designation meets certain basic requirements.

Objective

If the professional’s objective is to obtain a designation that provides and/or demonstrated expertise in IRAs, the CISP may be the most suitable. For a more advanced course, with material that provides education on investment and retirement planning strategies, the CRC may be a better choice.

For courses that focus on the practical aspects of qualified plan administration, relevant courses include the CPC, QPA and the APA.   The CEBS includes content relating to retirement plans, as well as health and human resources. Before deciding on a designation, prospective students should review the course outline and description to make sure that it covers the desired areas.

Continuing Education Requirements

Designations with continuing education (CE) requirements are usually more valuable than those with no CE requirements. Failure to satisfy CE requirements usually results in loss of the professional designation.

As such, if the designation requires CE, interested parties will know that the designee not only successfully completed the course and examinations, but that the relevant professional knowledge is kept current by meeting CE requirements.

Costs

The costs for completing the courses, taking the exams, and maintaining CE requirements vary among designations. For those courses with CE requirements, there is usually an annual fee, plus the cost incurred for the CE courses themselves.

Some employers will pay all related expenses, but individual designees are often required to bear the costs themselves. Although it may look good on a resume to have multiple designations if money is an issue it may be practical to choose one or two to satisfy the designee’s objectives.

Fringe Benefits

Organizations that provide professional designations in the employee benefits field often offer other for their designees, too. These can include free newsletters, free magazines, discounts for conference fees, and memberships to other professional organizations with which they have relationships. Prospective designees should evaluate the benefits provided by each organization to determine their value and relative importance.

Special Considerations

Some organizations offer affiliations to individuals who have not completed the requisites to receive a professional designation but have an interest in the field and meet certain predefined requirements. For instance, ASPPA offers the Associated Professional Members (APM) membership to pension professionals holding degrees in law, accounting, actuarial science, financial science, insurance, or related disciplines, if they have a minimum of three years’ experience in pension-related employment.

What Is the Most Recognized Designation for Financial Planners?

Many consider the Certified Financial Planner (CFP) certification to be the most widely recognized certification for financial planners. To earn a CFP, candidates must have a bachelor’s degree from a college or university, and either 6,000 hours of financial planning experience or 4,000 hours in a structured apprenticeship program. CFP candidates must also pass an ethics and background check and the CFP Certification Program before receiving this designation.

What’s the Hardest Retirement Planning Designation to Get?

According to most industry professionals, the Chartered Financial Analyst (CFA) designation is considered the most difficult financial planning designation to obtain. The CFA is so difficult because it requires the completion of three tests and over 4,000 hours of relevant work experience. On average, it takes between 2 and 5 years for professionals who achieve the designation to complete all the requirements.

What Is the Oldest Financial Planning Designation?

Introduced in 1927, the Chartered Life Underwriter (CLU) designation is the oldest financial professional designation in the industry.

The Bottom Line

A professional designation is like a college degree in some ways. Having one does not necessarily mean that the designee has a current working knowledge of the area in which the designation was given. It simply means that the individual was able to study for, and pass, the exams and likely attended required classes or covered course material. However, professional designations can make a difference in getting hired for a job or winning business from a potential client.

For prospective employers and clients who are not familiar with the designee’s experience and are unable to assess his or her level of expertise, a professional designation, especially one with CE requirements, can provide that extra detail needed to make the designee’s case.

Fact checked by Yarilet Perez
Reviewed by Margaret James

America is known as a melting pot of nationalities and cultures, and it has quickly become one of the most innovative nations to date. With driven natural-born citizens and immigrants, the United States is one of the most successful countries in terms of entrepreneurship.

From older companies such as Standard Oil, Ford Motor Company, and Carnegie Steel Company, to more contemporary companies such as Meta (formerly Facebook) and Google, American entrepreneurs have reshaped how the world operates. The following are the top five most successful American entrepreneurs in terms of world impact.

Key Takeaways

• The United States is one of the most successful countries in terms of entrepreneurship.
• The top five most successful American entrepreneurs in terms of world impact are Andrew Carnegie, Henry Ford, Oprah Winfrey, Bill Gates, and Larry Page.
• Carnegie founded Carnegie Steel Company and Ford started Ford Motor Company, two of America’s older companies.
• Winfrey is a multimedia executive, actress, writer, producer, talk show host, and philanthropist.
• Gates co-founded Microsoft with Paul Allen, while Page co-founded Google (now Alphabet) with Sergey Brin.

1. Andrew Carnegie

Andrew Carnegie was an American entrepreneur who actually immigrated from Scotland. Born into the lower class, Carnegie and his family immigrated to Pennsylvania, where they lived a better lifestyle. Carnegie later founded Carnegie Steel Company, growing it to become one of the largest companies in U.S. history.

In addition to the success of his company, Carnegie became a very successful angel investor. Using the money made through his steel company, he invested in various car companies, messenger services, and land that contained oil reserves. Upon his death in 1919, Carnegie had an estimated net worth of $350 million, which, in 2024 dollars, would be worth nearly $6.7 billion.

2. Henry Ford

Unlike Andrew Carnegie, Henry Ford was a natural-born citizen who grew up in Michigan. Born into a family who originated from England and Ireland, he was well off, though not wealthy. Ford was a hardworking man and eventually completed an apprenticeship with the Detroit Dry Dock Company. In 1891, he met with Thomas Edison and told him about his concept of the automobile. Edison liked the idea and let Ford use his warehouse to develop and manufacture two prototypes.

Using the prototypes, Ford soon founded the Detroit Automobile Company. The company was short-lived, however, since the product did not meet Ford’s standards. He went on to found the Cadillac Motor Car Company, which also failed, before starting the Ford Motor Company for which he is famous. His third attempt at a car company made him very successful, and the company remains a going concern with annual sales of over 2 million vehicles.

Note

Andrew Carnegie, Henry Ford, Oprah Winfrey, Bill Gates, and Larry Page are among the most celebrated American entrepreneurs in history.

3. Oprah Winfrey

Oprah Winfrey is a shining example of an American success story. While she did not reveal her past until 1986, Winfrey was a victim of sexual assault at the age of 9 and became pregnant at the age of 14 before losing the child during childbirth.

These early trials and tribulations gave her the perspective and confidence that helped her land her first TV show in 1983. From there, Winfrey steadily grew her brand and her empire, founding Harpo Studios, a multimedia company, in 1988.

Winfrey, together with Discovery Communications, founded OWN (Oprah Winfrey Network) in 2008, another media company that attracts millions of television viewers. Winfrey, a TV personality turned entrepreneur, has a net worth of $3 billion as of Feb. 4, 2025.

4. Bill Gates

Bill Gates, one of the most well-known American technology entrepreneurs, is the eighth-richest person in the world with a net worth of over $106 billion as of Feb. 4, 2025. Gates grew up in Seattle, Washington, and began tinkering with personal computers at an early age with friends such as Paul Allen. Showing a ton of aptitude and promise, Gates enrolled in Harvard, where he met Steve Ballmer before dropping out to start Microsoft.

Gates, with the help of Allen, Ballmer, and others, built Microsoft, now valued at over $3 trillion based on its market capitalization, making it one of the world’s largest and most influential tech companies. In 2020, Gates stepped down from the board of Microsoft, to focus his personal efforts on the Bill & Melinda Gates Foundation.

5. Larry Page

Larry Page is the co-founder of Google, the world’s number one search engine. Google was started by Page and his co-founder Sergey Brin while they were doctorate students at Stanford University. With an initial investment of just $100,000, the two partners quickly grew Google into a multinational conglomerate. In 2015, Google was restructured to form the parent company Alphabet Inc., with Page serving as CEO. He stepped down as CEO in 2019 but remains a board member and a controlling shareholder.

Page is the sixth-richest person in the world and has a net worth of $169.4 billion as of Feb. 4, 2025.

What Is an Entrepreneur?

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship.

What Became of Carnegie Steel Company?

In 1901, Andrew Carnegie sold Carnegie Steel Company for $492 million ($9.4 billion in 2024 dollars) to a group of investors headed by J.P. Morgan. Carnegie Steel became the centerpiece of U.S. Steel, a trust controlling 60% of the country’s steel production.

How Do I Trade in These Entrepreneurs’ Companies?

U.S. Steel, which bought Carnegie Steel, trades on the New York Stock Exchange (NYSE) as X. Ford Motor Company trades on the NYSE as F. Microsoft trades on Nasdaq as MSFT. Alphabet (formerly Google) trades on Nasdaq as GOOGL (Class A shares) and GOOG (Class C shares). The Oprah Winfrey Network (OWN) is a joint venture between Harpo Studios (also known as Harpo Productions), Oprah Winfrey’s privately owned company, and Warner Bros. Discovery, which trades on Nasdaq as WBD.

The Bottom Line

The U.S., with driven natural-born citizens and immigrants, is one of the most successful countries in terms of entrepreneurship. Five of its most successful American entrepreneurs in terms of world impact are Andrew Carnegie, Henry Ford, Oprah Winfrey, Bill Gates, and Larry Page.

Reviewed by Ebony Howard
Fact checked by Timothy Li

What Are Tariffs?

Tariffs are taxes on imports that effectively raise the prices of imports, providing an edge to domestic companies in the same markets. Governments usually impose tariffs to boost domestic companies or to punish foreign competitors.

In February 2025, the Trump administration announced a set of tariffs against Canada, Mexico, and China. President Trump implemented the 25% additional tariff on imports from Canada and Mexico and 10% additional tariff on imports from China to “hold Mexico, Canada, and China accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into [the United States],” according to a statement released by the White House.

Key Takeaways

• Tariffs are a tax on imports paid by importing companies in the country that imposed the tax. These companies typically pass along the cost to the consumer.
• Tariffs are meant to protect domestic industries by raising prices on foreign products.
• Tariffs typically raise prices for consumers.

How Tariffs Are Used

Tariffs are often used to protect struggling domestic industries against foreign competition or unfair practices such as dumping and foreign government subsidies.

There are two basic types of tariffs.

• An ad valorem tax is the most common type and is levied as a percentage of the value of the good or service.
• A specific tariff sets a fixed fee by weight or number of items.

Tariffs are paid by the importing businesses to their government, with most costs passed on to consumers of those goods or services. Tariffs are not paid by foreign companies, the exporters, or the governments that produce the goods.

Important

The United States has an average import tariff rate of 2% on industrial goods, while one-half enter the United States duty-free.

Consumer Prices

Tariffs can have unintended consequences. In their attempt to promote domestic industries, tariffs hurt domestic consumers since a lack of competition increases prices. In 2018, the Trump administration imposed large-scale tariffs on several goods to protect U.S. manufacturers from foreign competition.

Washing machine tariffs revealed how import taxes can raise consumer prices on more than just the targeted imports. Research by the University of Chicago and the U.S. Federal Reserve found that while the washing machine tariffs brought in $82 million a year to the U.S. Treasury, the cost to U.S. consumers was $1.5 billion a year.

U.S. producers raised their prices on washing machines and other goods. The Fed concluded that the washing machine tariffs helped create about 1,800 manufacturing jobs, but the cost to the U.S. was about $817,000 per job.

Imposing Tariffs

Steel tariffs were imposed in 2018 to penalize China for unfair trading practices due to government subsidies that had enabled Chinese producers to export steel at low prices. Tariffs of 25% were imposed to protect the domestic industry, including factory jobs in states such as Pennsylvania.

Those tariffs helped U.S. steelmakers, but forced many U.S. companies that needed steel for their products, especially automakers, to pay higher prices, threatening products and jobs downstream.

Do All Countries Impose Tariffs to Protect Domestic Goods?

Most countries maintain at least small tariffs on some goods, especially ones of special domestic importance. The U.S., for example, still keeps a tariff of 25% on light pickup trucks, while the European Union maintains a 10% import tax on cars from the U.S. and other countries.

What Is an Example of a Tariff?

One example of a tariff is the set of tariffs announced by the Trump administration in February 2025 in response to “illegal immigration” and the flow of fentanyl into the United States, according to a White House statement. The Trump administration implemented a 25% additional tariff on imports from Mexico and Canada, and a 10% additional tariff on imports from China.

How Do Economists View the Use of Tariffs?

Most economists believe tariffs hinder trade and economic growth while raising prices for consumers in tariff-implementing countries.

What Are Trade Agreements?

Trade agreements between countries help to open markets, expand opportunities for employees and businesses, and help companies enter and compete in the global marketplace.

The Bottom Line

Tariffs have historically been a tool for governments to collect revenues and protect domestic producers. Many economists argue that tariffs create market distortions that can harm domestic consumers over time through increased prices and reduced competition. 

Reviewed by Charles Potters
Fact checked by Kirsten Rohrs Schmitt

A tariff is a tax that a governing authority imposes on goods entering or leaving the country. Tariffs typically focus on a specified industry or product, and are set in place in a controlled effort to alter the balance of trade between the tariff-imposing country and its international trading partners. For example, when a government imposes an import tariff, it adds to the cost of importing the specified goods. This additional marginal cost will theoretically discourage imports, thus affecting the balance of trade.

Governments may opt to impose tariffs for a multitude of reasons, including to protect nascent industries, to fortify national defense programs, to support domestic employment opportunities, to combat aggressive trade policies, and to protect the environment.

Key Takeaways

• A tariff is a specific type of tax that a governing body imposes on goods entering or leaving the country. 
• In theory, when a government initiates a tariff program, the additional costs saddled upon the affected items discourages imports, which in turn impacts the balance of trade.
• There are myriad reasons governments initiate tariffs, such as protecting nascent industries, fortifying national defense, nurturing employment domestically, and protecting the environment.

Infant Industries

Tariffs are commonly used to protect early-stage domestic companies and industries from international competition. The tariff acts as an incubator that theoretically affords the domestic company in question the ample runway time it may need to properly nurture, develop, and grow its business into a competitive entity. This is essential for startups, as more than 20% of businesses fail to endure past one year.

National Defense

If a particular segment of the economy provides products that are critical to national defense, a government may impose tariffs on international competition to support and secure domestic production. This can happen both during times of peace and during times of conflict.

Domestic Employment

It is common for a government’s economic policies to focus on fostering environments that provide its constituents with robust employment opportunities. If a domestic segment or industry is struggling to compete against international competitors, the government may use tariffs to discourage consumption of imports and encourage consumption of domestic goods, in hopes of supporting associated job growth, especially in the manufacturing sector.

Aggressive Trade Practices

International competitors may employ aggressive trade tactics such as flooding the market in an attempt to gain market share and put domestic producers out of business. Governments may use tariffs to mitigate the effects of foreign entities employing unfair tactics.

Important

There are potential downsides to tariffs. For example, they can trigger a spike in the price of domestic goods, which can reduce the buying power of consumers in the nation that imposes the tariffs.

Environmental Concerns

Governments may use tariffs to diminish the consumption of international goods that do not adhere to certain environmental standards.

What Is an Example of a Tariff?

One example of a tariff is the Chicken Tax. This tariff is a 25% tax levied on light trucks imported into the U.S. It was imposed in 1964 in retaliation against European tariffs on American poultry. The original Chicken Tax affected a range of imports, including potato starch, dextrin, and brandy. In the years that followed, the tariff was removed from most products with the exception of light trucks, which continue to face it today.

Another example is the set of tariffs implemented by the Trump administration in February 2025 on imports from Canada, Mexico, and China. For imports from Canada and Mexico, there’s an additional 25% tariff. For imports from China, there’s an additional 10% tariff.

What Is the Difference Between a Tariff and a Tax?

The terms “tariff” and “tax” are often used interchangeably. Broadly speaking, a tax is a general reference to any compulsory contribution to a government’s revenues. It can be imposed on individuals, for instance through income taxes, or on particular types of transactions, such as sugary drinks taxes. Tariffs are a type of tax applied on products that are being transported between two jurisdictions.

What Is the Average Tariff in the U.S.?

The average import tariff on industrial goods is 2%. Industrial goods includes all non-agricultural products, including cars, metals, clothing, and consumer goods, among others.

The Bottom Line

Governments may impose tariffs for a wide range of reasons, from protecting domestic industries to boosting national defense to responding to aggressive trade tactics, and more. Tariffs are usually tailored to a specified industry or product. They aim to manage the specific balance of trade between a country of import and a country of export. In theory, when a tariff is imposed on an imported product, it increases the cost of said product and theoretically reduces imports.

Fact checked by Suzanne Kvilhaug
Reviewed by Ebony Howard

Most Valuable Career Skills for 2025: An Overview

The job market is always evolving. As some occupations lose popularity, others gain an edge. Regardless of the field you’re in, having certain career skills can make a difference. Knowing which qualities are most in demand can be helpful as you carve out your career path. 

Key Takeaways:

• Healthcare is a field offering tremendous opportunities in terms of job growth.
• Sustainable energy and statistics are also fields where jobs are expected to increase through 2033.
• Tech skills such as computer programming and network engineering continue to be sought after by companies.
• Soft skills are also important.
• As artificial intelligence (AI) becomes more widespread, there will be a significant shift from labor jobs that have the potential to become automated.

Fastest-Growing Jobs Outlook

From 2023 to 2033, the fastest-growing occupation is expected to be wind turbine service technicians. This job is set to realize a staggering 60% growth rate, according to the U.S. Bureau of Labor Statistics (BLS).

After wind turbine service technicians, rounding out the top five are:

• Solar photovoltaic installers
• Nurse practitioners
• Data scientists
• Information security analysts

So, which career skills will improve your chances of success in these fields? 

Tech Skills Are Highly Valued Across Multiple Industries

Tech skills are hot commodities among employees, and their application isn’t limited to the tech industry. Tech-savvy workers are highly suited to most industries, including healthcare and finance. Possessing a technical skill set can lead to a higher-paying position.

According to HRForecast, some of the hottest tech skills to have now include:

• Basic programming skills. The most popular programming languages in demand are Python, C++, Java, C, and C#.
• UI/UX design. UI/UX designers are skilled at creating digital products to meet consumer needs.
• Data engineering. Data analysts must have knowledge of Python and SQL, Java or Scala, cloud computing platforms like Amazon Web Services (AWS), and big data processing technologies.
• Data visualization. Data visualization skills are used in data analytics to help make information more easily digested and managed.

So how much can you expect jobs that rely on these skills to pay?

According to Robert Half, some of the highest-paying, in-demand tech jobs by average starting salary for 2025 include:

• Data engineer: $154,000
• Senior software engineer: $147,500
• Software developer: $130,750
• Network/cloud architect: $129,750
• Systems engineer: $119,250

While these tech skills are relevant to roles like network architects and software engineers, that’s only the tip of the iceberg. For example, data analytics is an increasingly significant component of healthcare as more healthcare providers move to digital record keeping. Software programmers and developers are also needed to create the software programs used to manage patient data and healthcare records.

Tech is also reshaping the finance industry, with demand rising for project managers, software operations specialists, application developers, business intelligence specialists, and statisticians. Data analysis and software skills are also essential in fields that don’t fit the tech mold, such as human resources.

What About Artificial Intelligence (AI)?

Artificial intelligence (AI) is transforming industries and organizations and has huge economic potential, according to a McKinsey & Company report. How might that affect your job prospects? What’s important is to understand the uses of AI in your specific line of work so that you can raise your skills and increase your work output and quality, applying AI appropriately. Depending on your line of work, skills that may be of use include understanding algorithms and neural networks, data analysis, programming, and understanding the ethical implications of AI, among others.

Soft Skills Still Carry Weight with Employers

While technical skills are important, employers typically don’t have tunnel vision when considering which workers to hire. Soft skills, which are often influenced more by personality than by education or training, are still a priority in the workforce.

The soft skills that may be most important in a changing job market, according to LinkedIn, include:

• Communication skills
• Customer service
• Leadership
• Project management
• Teamwork
• Problem-solving
• Adaptability

According to research by Peter Cardon, professor of clinical business communication at the University of Southern California Marshall School of Business, in the age of AI, the value of soft skills will be increasingly important to foster company cultures that are people-centered. Skills that stood out in his research of nearly 700 business leaders in the U.S. and across the globe included character-based traits such as integrity, the ability to inspire others, motivation, and drive.

Note

Different types of soft skills, such as time management, may be highly valued in remote or hybrid work positions.

What Will Be the Most In-Demand Jobs in 2025?

The most in-demand jobs for 2025 are in tech and renewable energy. In addition, demand for nursing and healthcare-related positions is expected to see a continued increase as the U.S. population ages. There is also a growing demand for jobs in veterinary medicine.

What Skills Will Be in Demand in 2025?

A mix of both hard and soft skills will be in demand in 2025. On the hard skills side, employers may be looking for candidates who possess advanced tech skills, including programming and coding skills. On the soft skills side, good communication skills and the ability to think critically and creatively are important.

What Jobs Will Disappear?

Automation, robotics, and artificial intelligence (AI) technology may make some jobs obsolete or significantly curb demand for them by 2035. Some of the industries that are most likely to be affected by automation include manufacturing, healthcare, transportation, agriculture, and service. Specific jobs that are projected to decline the most include word processors and typists, parking enforcement workers, hand cutters and trimmers, nuclear power reactor operators, print binding and finishing workers, and watch and clock repairers.

The Bottom Line

Developing both your hard and soft skills will boost your marketability to potential employers. It’s almost a certainty that tech skills will continue to be highly sought after, but other skills, such as being able to communicate effectively, being mindful of details, and staying organized, aren’t likely to go out of style anytime soon. The key to getting ahead is finding the right balance and targeting the skills that are most valued in your chosen field.