[Post 555] Why Dollar Stores Are Struggling

Summary

Dollar General and Dollar Tree, which also owns Family Dollar, brought in about $70 billion combined in sales in fiscal 2023. Both companies have historically been Wall Street darlings, outperforming the broader market for much of the past decade. But the past two years have played out differently as the dollar store industry is facing an economic environment that has disproportionately affected the dollar store’s core, low-income consumer. Watch the video to find out why dollar stores are struggling.

[Post 554] Why 27 U.S. States Are Going Broke

Summary

27 state governments lack the necessary cash on hand to pay their bills, according to researchers. The debts largely relate to the public pension system, which provides lifetime benefits to state and local government employees. $800b in federal aid during the pandemic obfuscated the long-term challenges of states. As that extra aid expires, even economically powerful states have to tighten their budgets. That could mean more tax hikes or cuts to public services like education and transportation.

[Post 553] We tried getting MC and medication from a vending machine in Singapore

Summary

Can you get an MC and medication from a vending machine? We gave it a go with Dr Kart, a kiosk that connects users to a doctor or pharmacist. The first Dr Kart kiosk, which recently went viral on TikTok, is located at the Shell petrol station at 9 Tampines Avenue 2. Find out more: https://cna.asia/4feLOwN

[Post 552] Why The Rich Keep Getting Richer In The U.S.

Summary

Elon Musk is on track to becoming the world's first trillionaire by 2027, according to a report from Informa Connect Academy. The biggest driver of Musk's wealth has been Tesla stock and his ownership of SpaceX. Federal Reserve data shows the share of wealth controlled by the top 1% has grown dramatically, while the wealth of the bottom 50% has stagnated. Some feel that rising tides lift all boats, while others think wealth concentration can be harmful to society.

[Post 551] What’s Keeping Middle Class Salaries Low?

Summary

Between 1979 and 2024, productivity in the U.S. soared by 80.9%, while hourly pay grew by just 29.4% during the same period. In June 2024, two-thirds of middle-income households reported that their income was falling behind the cost of living. This trend has often been referred to as ‘wage stagnation’. But more recently, economists have suggested that deliberate policy decisions have actively suppressed worker’s wage growth. So what exactly is preventing the middle class from earning a higher paycheck?

[Post 550] Why Men Are Leaving The Workforce

Summary

Men have been steadily dropping out of the workforce - especially men aged 25 to 54, who are often considered to be in their prime working years. About 10.5% of men in their prime working years, or roughly 6.8 million men nationwide, are neither working nor looking for employment, compared to just 2.5% in 1954. So what’s driving men out of the workforce? And if left unchecked, what impact will it have on the U.S. economy?

[Post 549] We Make $263K A Year In California — And Saved Nearly $500K In Our 20s

Summary

At just 30 and 27 years old, Quinn and Brittney Sturgis, a married couple serving in the Air Force, are on track to retire in their early 40s — if they choose to. Both officers are stationed at Travis Air Force Base in Fairfield, California, earning just over $263,000 in combined salary and paid military benefits, with roughly a quarter of it automatically stashed in investment accounts.

This story is part of CNBC Make It's Millennial Money series, which details how people around the world earn, spend and save their money.