Labor Day is about a lot more than the end of summer and the start of a new school year. The holiday, which celebrates American workers, became a federal holiday in 1894 and was created to recognize the contributions and achievements of the labor movement. History.com explained:1
“…at the height of the Industrial Revolution in the United States, the average American worked 12-hour days and seven-day weeks in order to eke out a basic living. Despite restrictions in some states, children as young as 5 or 6 toiled in mills, factories, and mines across the country, earning a fraction of their adult counterparts’ wages. People of all ages, particularly the very poor and recent immigrants, often faced extremely unsafe working conditions, with insufficient access to fresh air, sanitary facilities, and breaks.”
The holiday is celebrated in many cities and towns across the United States with parades, picnics, fireworks, and other public gatherings.
On this Labor Day, cheer the 40-hour workweek, vacations, lunch hours, workplace retirement plans, and other innovations that have greatly improved our lives.
This time of year is also a fine time to review your financial plan and discuss tax strategies you may want to implement before the end of the year. Let’s talk!
This material was prepared by Peak Advisor Alliance. Peak Advisor Alliance is not affiliated with the named broker/dealer.