Helping Americans Navigate a New Work Order; Why We Invested in Steady


Most Americans are struggling. 40 percent of the country’s adults, if faced with an unexpected expense of $400, would either not be able to cover it or would cover it by selling something or borrowing money. Household debt is at an all time high, totaling $13.2 trillion. This dire scenario can make life’s common setbacks — an unforeseen car repair, a health emergency, or a job loss — lead to catastrophic financial consequences. And this is not a lower-income person’s problem. This picture captures the majority of our country’s middle class.

Against this backdrop, the US work force is undergoing a profound transformation. Private sector jobs are shifting from traditional W2 arrangements to flexible 10–99 contracting, creating income volatility and taking away employer-sponsored safety nets. While the 10–99 shift offers workers increased flexibility and autonomy, it also generates significant financial uncertainty and anxiety. Unpredictable work schedules and wages make it difficult for people to budget, plan for emergencies, and save for the future. Fragmented income sources and complex payroll and tax obligations often exacerbate the time and stress of managing cash flows. 

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Darcy Fray