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By Lauren Young, Digital Special Projects Editor

Your inbox is likely crammed with invitations right now: Whether it is your workplace, your volunteer organization, your kid’s school, your faith group or your alumni association, everyone seems to want a piece of your time this holiday season.

While many people blow off these events, they can be career springboards with very real effects – such as hearing about new opportunities, making critical connections and paving the way for promotions. (Indeed, I made a valuable contact at a holiday party that led to one of my most transformational jobs at a personal finance magazine.)

Holiday networking can supercharge your career prospects for 2024, but it can also be a potential minefield. In fact, 63% of people harbor regrets about their conduct at past gatherings, according to a new survey by the site FinanceBuzz. Those regrets include office-party classics like drinking too much, gossiping and flirting.

To maximize the positive and minimize the negative, here are pointers from career experts. 

They call it work for a reason. REUTERS/Andrew Kelly

What is your dream job?

Whatever it is, chances are you have not experienced it yet: Only one in 10 Americans are working in their dream job, a survey by the site JobSage showed. Seven in 10 respondents said they are not on track to get there, and more than half of those surveyed said their dream job is unrealistic in this economy.

Yet career dreams can come true. You need a clear-eyed strategy to bring them out of the clouds, take concrete steps to get where you want and make the numbers work to prosper.

Even if your ultimate goal is a full-time gig, you do not have to jump there right away. In fact, ditching your 9-to-5 employment is a risky proposition. (Speaking from experience, it’s nice to have corporate health insurance!)

AI ‘is already driving results’ for semiconductor stocks: The power of AI turned Silicon Valley upside down in 2023 with few of the big players prepared for the breakthrough of OpenAI’s ChatGPT. Here are the long-term implications for the semiconductor industry. 

How low can gas prices go? REUTERS/Gary McWilliams 

Last weekend I was on a road trip, and when we pulled into a gas station in Pennsylvania to fuel up, I was surprised to see lower gas prices. 

Well, it turns out U.S. gasoline prices are the lowest they have been since January. In fact, by Christmas gas could fall below $3 a gallon for the first time since 2021, analysts say, which should boost consumer confidence during the holiday shopping season.

The national average price for a gallon of gasoline stood at $3.23 on Tuesday, down 15% since mid-September, data from the motorist group AAA showed. Lower pump prices have given American consumers some relief from inflation and left more cash for discretionary spending.

And if that’s the case, I want to hear what you’re doing with the extra cash. Write to me at onthemoney@thomsonreuters.com.

Are pensions the next big trend in employee benefits? REUTERS/Brian Snyder

IBM, often perceived as a leader in the corporate world, was one of the first large employers to announce a shift to an all-defined contribution retirement program in 2006. The decision was a harbinger of a plunge in the number of employers offering traditional pension plans.

So IBM delivered a shock of sorts when it said last month that starting on Jan. 1, 2024, it will introduce a Retirement Benefit Account (RBA) for all of its U.S. employees. Employees can continue to contribute to their 401(k) accounts. But the match will be replaced by a contribution of 5% of pay to the RBA, along with a one-time pay increase of 1%. The pay credits will accumulate interest credits at a rate of 6% for the first three years, and will be tied to Treasury rates in the years that follow, with a floor of 3% for the first seven years.

And IBM is not the only employer thinking about resurrecting a pension(-ish) plan.

Calling all retirement savers! Do you have a pension plan or a 401(k) plan? Do you feel like you are prepared for retirement financially? Do your have any questions about retirement? Write to me at onthemoney@thomsonreuters.com.

Are you trying to buy a home amid higher rates? Will insurance cover your COVID shot? Send your money questions onthemoney@thomsonreuters.com, and I’ll tap my extensive source network and braintrust for expert advice.

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