Bshapiro Financial

How much time do teens spend on social media? With recent court rulings calling out alleged social media addiction, a recent survey by the Pew Research Center reports roughly 1 in 5 U.S. teens say they are on TikTok and YouTube almost constantly. At the same time, 64% of teens say they use chatbots, including about 3 in 10 who do so daily.

A vast majority of U.S. teens reported daily use of the Internet (97%) and platforms such as YouTube (76%), TikTok (61%), and Instagram (55%).

As the infographic shows, a notable share even reports near-constant use: 40% for the Internet, 21% for TikTok, and 17% for YouTube, with a further one-third to one-half saying they use these platforms several times a day.

Sources: The Pew Research Center and Statista.
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The Strait of Hormuz is a chokepoint for much of the world’s economy. Just what is at risk there?

Roughly one-fifth of the world’s oil consumption and liquified natural gas (LNG) trade passes through the strait, making it one of the most critical energy corridors on the planet.

The infographic highlights what moves through the Strait of Hormuz each day—from oil tankers and LNG carriers to the share of global energy consumption dependent on the route. Data comes from Lloyd’s List; the U.S. Energy Information Administration (EIA); and The Visual Capitalist.

Inflation doesn’t hit all goods and services in the same way. In fact, when looking at changes in prices during this century you find a wide divergence in prices.

The infographic shows U.S. inflation by category, based on data from the Bureau of Labor Statistics and inspired by Mark J. Perry’s “Chart of the Century.”

Source: The Visual Capitalist

The Rich are getting richer. According to the US Census Bureau, in 2024 the top 20%—with an average household income of $316,100—took home 52.2% of all national income, up 8.7 percentage points from 1974. Meanwhile, the bottom 20% received just 3.1%, further shrinking over the period.

This graphic from The Visual Capitalist shows U.S. household income distribution in 2024, based on data from the U.S. Census Bureau.

Who are the largest beneficiaries of the Supplemental Nutrition Assistance Program? Almost four in 10 SNAP recipients in the fiscal year of 2023 were children, data from the USDA show, as families, especially single-adult families, struggle with finances more often. Additionally, around two in 10 recipients were over the age of 60, and one in 10 was a child or non-elderly adult with a disability.

One-third of SNAP recipients were non-disabled adults between the ages of 18 and 59. However, on a household level, only 16.9% of households receiving SNAP contained only adults under the age of 50.

Sources: Statista and Horsesmouth

If you’re saving for college, you should save some more. The cost of attending America’s most prestigious universities continues to soar.

For the 2024–25 academic year, the total annual cost of the top 10 national universities now ranges from $77,500 to $98,300, according to data compiled from U.S. News & World Report and College Board.

The University of Chicago tops the list, with tuition reaching $71,300. Other elite schools like Duke, Yale, and Stanford also hover near the $70,000 mark. Harvard, with one of the largest endowments in the world, lists tuition at $59,300.

Tuition at these universities averages about 50% higher than the $43,400 charged by the typical private nonprofit four-year college. By comparison, public out-of-state universities average around $29,200, while in-state students pay just $11,600.

Additional sources: The Visual Capitalist and Horsesmouth

Happy Friday! I live in a fantasy world where everyone takes regulations and basic decency as seriously as I do. And then I read this article about Cockroach Advisors who breed in warm weather.

Where do bad brokers work and live? Cockroach advisors like the warm weather, according to a new study from the Journal of Financial Economics.

It’s still unclear how AI will ultimately affect the workplace. Will it become our assistant for everything, or will it eliminate jobs entirely?

This graphic is based on data from Microsoft Research, which analyzed how people used AI and how closely these tasks correspond with occupational activities.

Interpreters and translators rank first overall, as 98% of work functions corresponded with Copilot conversations with relatively strong completion rates.

Several knowledge workers like historians and writers had high levels of overlap. Passenger attendants and customer service representatives—which together represent nearly three million jobs in America—rank among the top 10.

Sources: Visual Capitalist; Microsoft; and Horsesmouth

US lawmakers are careening toward a shutdown of the federal government that could deprive policymakers, business leaders and investors of critical data needed to assess the state of the economy. Many federal operations will pause and nonessential employees will be furloughed or fired if lawmakers can’t reach an agreement by the time the current fiscal year ends on Tuesday.

When it comes to the data by which the economy is gauged, things could get very murky at a moment of deep uncertainty.

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The One Big Beautiful Bill Act, which President Trump signed on July 4, reduces certain tax breaks for donations starting next year. The new law introduces a 0.5% floor on itemized charitable contributions and caps deductions at 35% of modified adjusted gross income.

Clients urged to maximize charitable giving this year Financial advisors are urging clients to maximize their charitable deductions before year-end, as the recently passed tax and spending legislation limits tax breaks for donations starting in 2026. The new law introduces a 0.5% floor on itemized charitable contributions and caps deductions at 35% of....

Thinking of adding someone to your home’s deed? It may seem like a generous gesture, but it could trigger legal, tax, and financial consequences. Learn what to consider before making this major move: https://bit.ly/4mfU1VJ

5 Things to Know Before Adding Someone to the Deed Before you add someone to the deed on your home, you should be aware of these five things.