Glory days are here for Bruce Springsteen, who is now estimated to be worth $1.1 billion.*

His billionaire status follows a 2023 world tour with 1.6 million tickets sold and $380 million earned. Two years prior, Sony bought his entire music catalog, including off-the-charts hits like “Born in the U.S.A.” and “Dancing in the Dark,” for $500 million. Twenty Grammys, an Oscar and two Hall of Fame inductions later, the Jersey-born rockstar is still striking a chord, with concerts scheduled through mid-next year.

Despite his success, being a boss (no, not that boss) isn’t for everyone: Just 3 in 10 Americans aspire to the C-suite, according to Empower research.

— The Editors 

🥪 On a roll: Since launching in 1956,* Jersey Mike’s has been one of the fastest-growing franchises in America. From humble beginnings at the Jersey shore, the sub shop is now on track to serve up nearly $4 billion in revenue from its 3,000 locations nationwide this year. With an estimated net worth of $5.6 billion, founder and CEO Peter Cancro isn’t slowing down: He plans to open 5,000 more stores in the next five years. Foodies are hungry for high-quality delis: On average, Americans dine out 20% of the time, according to Empower research.

🚀 Out of this world: Space tourism is taking off, and the galaxy saw a total of 51 civilian passengers over the last three years. The price for celestial travel costs anywhere from $55 million for a week-long stay among the stars via SpaceX or $450,000 for a trip on a Virgin Galactic rocket. As a more price-friendly option, NASA allows enthusiasts to book a stay at the International Space Station for $35,000* per day. Luckily, there are virtual space tourism options, where you can feel like you’re up in space from the comfort of Earth.

🎩 Pass go, collect $1B: Hasbro’s free mobile game Monopoly Go! rolled the dice and scored big, making  $1 billion* in revenue within seven months of last year’s launch — and passed $2 billion just three months later. Mobile game developer Scopely has a tried-and-true method that has encouraged users to spend an average of $90 every month, and the company is nearing $10 billion in lifetime revenue since 2011. In the last year, 500 million Scopely users have spent 5 billion hours playing its games – and when time is money, that’s a big investment.

📚 Bookstore bestsellers: A new chapter is here for independent bookstores, and it’s a page turner. In 2023, more than 200 local shops* opened for the third year in a row, according to the American Booksellers Association (ABA). Indie bookstores using ABA’s e-commerce platform, IndieCommerce, have seen their sales skyrocket 580% since 2020, with over $200 million in online revenue.

A Baby Boomer boost

Bruce Springsteen isn’t the only thriving 70-something. The Federal Reserve reports that those 55 and over control almost 70% of the wealth* among U.S. households, a jump from holding 50% in 1989.

With an unprecedented number of Americans reaching retirement age this year – approximately 4.1 million people turning 65 – Baby Boomers’ fun times may continue to fuel the economy in the foreseeable future. Retirees are looking forward to spending their golden years traveling, gardening, hiking, and volunteering, according to Empower research.

All those years saving for retirement are paying off: Empower Personal Dashboard™ data shows that as of June 2024, those in their 50s have an average retirement balance of $946,134, while those in their 60s have $1,170,553, and those in their 70s have $1,054,027. 

On the map: New tech capitals

Cities across the nation are competing to become the next major tech capital (defending champion: San Francisco Bay Area), and many are offering big benefits to entice top tech talent.

New Jersey will provide $500 million* in tax credits for AI companies that move headquarters to the state. Since 2019, Austin, Texas, has seen a 44% headcount growth* with tech leaders like Google, Meta, and Apple. States like Oklahoma, West Virginia, Indiana, and Kansas offer incentives up to $15,000* for new residents to make the move. 

Tech activity in Silicon Valley isn’t going anywhere, though: Companies in northern California received $27 billion* – more than half of all global funding to AI startups – in 2023.

If you’re looking for a change of scenery, an Empower study shows the most affordable cities for working Americans include Sioux Falls, South Dakota; Springfield, Illinois; and Wichita, Kansas. 

Wholesale hall of fame

As shoppers look for ways to cut costs on everyday spending, younger patrons are flocking to wholesale giants like Walmart-owned Sam’s Club and Costco. Sam’s Club saw its 27-and-under memberships jump 63%* over the last two fiscal years, and 1 in 4 of its current members are Gen Zers and Millennials.

Empower Personal Dashboard™ data from January to June 2024 shows that people spent an average of $605 on groceries per month. The bulk-buying may be paying off: Gen Zers dished out the least of all generations, at an average of $359.

Costco, the third-largest retailer* in the world, brought in $237 billion last year. For the first time since 2017, the wholesaler is raising fees, which will impact 52 million* members: Gold Star level shoppers will pay $65 and Executive members will pay $130, increases of $5 and $10, respectively. 

💵 Billionaire bosses: In the United States, 813 billionaires are collectively worth $6 trillion. Money is a leading driver of job satisfaction for 67% of Americans, according to Empower research, but 37% prioritize saving time over saving money.