The societal crisis waiting to happen 👴

Hey there! Have you been waiting for us to visit your city and interview you? Well, your opportunity has arrived!

Introducing…the Salary Transparent 2024 Tour! At every tour stop, we’ll ask people what they do and, of course, how much they make! We’re also hosting in-person workshops in Miami, Richmond, Boston, and DC (links to sign up coming soon).

If you don’t want to do an interview, we’d still love to meet you! Here are the deets: 

Coming up this Saturday? We’ll be at the largest event on the East Coast: ‘The Big E’ State Fair!

Did we miss your city? Reply and let us know! We’re hoping to extend the tour to cover highly requested spots. 💚

The Jaw-Dropping Cost of Nursing Homes 

Guess the cost of a nursing home in the US. Is it $3,000 a month? Maybe $5,000? Nope. The median monthly cost for a private room is $9,034—and prices can climb up to $24,000 a month.

I can’t wrap my mind around this, especially considering the US has no national program to cover long-term care. These costs are the single largest financial burden for seniors and their families—meaning this is a societal crisis waiting to happen. 

I had to dig deeper. What goes into that price? Why is it so expensive? Let’s get some answers.

So…what’s included? 

Aside from the room itself, here’s what the price tag covers: 

Even with all these services, paying $9,000 a month—over $108,000 a year—still feels staggering. What’s driving these costs?

Why nursing homes are so expensive 💸

First, cost of living plays a big role. Nursing homes in high-cost areas have higher operational expenses that get passed onto residents (the price of a New York nursing home can be more than double that in Texas). 

Then there’s the competitiveness of the market. It’s basic supply and demand—when there are more elderly people than available beds, nursing homes can raise prices. 

Another factor? The rise of for-profit nursing homes. 72% of US nursing homes are owned by private equity firms, which has been linked to higher costs for worse quality care—so much so that bills have been proposed to prevent corporate greed from destroying the healthcare landscape. 

What does this mean for you? 🧓

While retirement might feel a long way off, we all get old eventually. That’s why it’s crucial to advocate for yourself and earn what you deserve—so you can secure a future for both yourself and your loved ones.

The good news? We’ve got plenty of resources to help. From free salary negotiation scripts to a market research guide to a list of top-paying jobs, we’re here to help you earn more now so you can thank yourself down the line. 

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If you found this ⬆️ read on the senior care crisis valuable, then you’ll love our podcast, Two Cents! 

We cover topics related to money and employment, from the jaw-dropping cost of retirement to how your salary might be robbing you. 

Watch our latest episode here! 

• JPMorgan caps junior bankers at 80 hours per week. 🏦 The move comes after a Bank of America employee died from a blood clot after working multiple 100-hour weeks. (FYI: 80 hours still means six days a week…from 8:30 AM to 10 PM).

• Score for the National Women’s Soccer League. ⚽️ The players signed a new collective agreement that eliminated the draft and raised their minimum salaries to $82,500. We love to see it!

• Humanities majors are doing just fine. 🎓 Americans with a humanities bachelor’s degree have an unemployment rate of just 3% and earn a median salary of $72,646, per US Census Data. 

• Boeing workers strike for the first time in 16 years. ✈️ 95% of Boeing’s 33,000 machinists voted against a proposed contract that would’ve raised their wages 25% over four years, saying it doesn’t cover cost-of-living and inflation.

Thanks for being here! We’ve recently covered a bunch of salaries in technical fields such as healthcare, government, and trade. But let’s not forget the ✨creative ✨ careers. Our compilation ft. tattoo artists, comedians, and more—with some earning up to six figures—is right here!

See you next week!