News & Press.

Millennials’ collective net worth has skyrocketed in recent years. According to Federal Reserve data, the generation now holds about $15.95 trillion in wealth, a big leap from just $3.94 trillion five years ago.

By many measures, millennials are doing great — but they don’t seem to feel that way. This disconnect between being wealthy on paper and feeling financially free has been referred to as “phantom wealth,” and it could be due to the following factors.

With hybrid work weeks, flexible schedules, five generations in the workforce and different ways of learning, today’s accounting employers have a lot on their plate. Add to that mixture a shrinking accounting pipeline and it’s more important than ever to understand and learn what constitutes good and bad employers.

Retirement is the goal, and finding the funds to make that happen is key. But how do you calculate the amount you’ll need for 20 or 30 years of retirement? What can you do to increase your savings right now? And what else do you need to consider when you first begin thinking about retirement?

Keep reading for tips and tricks that you can use now—and in the future—to secure your own retirement plans.

When it comes to managing a family-owned franchise, the transition from one generation to the next can be fraught with challenges. The importance of a well-thought-out succession plan cannot be overstated, and Bobby Mascia, CEO of Green Ridge Wealth Planning, knows this better than most. After joining his own family’s franchise business, which involved Dunkin’ Donuts and Baskin Robbins locations, Mascia learned first-hand the complexities and rewards of family-run franchises. Today, he helps other entrepreneurs navigate the process of succession planning and ensuring their family businesses are set up for long-term success.

A nailbiter presidential race has emotions running high on both sides of the aisle. But what would a Harris or Trump win mean for business owners? From non-compete covenants to finally letting certain legal cannabis companies deduct business-related expenses, Garden State accountants shared their thoughts with NJBIZ.

NJBIZ once again presents our list of business people who are doing great work without making a lot of news. The individuals profiled have either completed difficult tasks, are creating game-changing innovations or leading others in those endeavors. The common thread is that you, the reader, might never have heard of them. But you will. The NJBIZ Power lists recognize the most influential business leaders in the state. Many of those folks have spent their entire careers building businesses, ascending the ranks of corporate management, training new generations or in some other way making New Jersey a better place to live, work and do business.

New Jersey CPA is the Society’s award-winning membership magazine. Written by CPAs for CPAs, each issue covers an in-depth, timely topics affecting the profession – whether you’re a seasoned veteran or just starting out in your career. You’ll also find practice-area articles in auditing, financial planning, forensic accounting, industry, tax, technology and more. And, you’ll learn about what’s going on at the NJCPA: upcoming events, discounted CPE and volunteer opportunities.

The NJBIZ Leaders in Finance awards celebrate New Jersey’s financial executives at all levels who contribute to the success of their companies as well as their communities. And the 2024 honorees are prime examples of leadership in the industry.

Inflation soared during the pandemic, and the Fed’s efforts to tame it drove up interest rates over 2022 and 2023. While the annual inflation rate in 2020 was a mere 1.23%, it peaked at 8% in 2022 before settling at 3.4% for the 12 months ending in December 2023. Similarly, the Fed’s aggressive cycle of rate hikes pushed the effective federal funds rate from 1.55% to 5.33% during the same span, according to Macrotrends.

Green Ridge Wealth Planning
A fee-only fiduciary, specializing in wealth management for business owners, delivering Wall Street experience without the corporate nonsense.