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Markets Rise Thanks to Upbeat Indicators

2024-08-19T09:12:53-05:00August 19, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , |

The Weekly Update

Week of August 19th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks posted solid gains last week, buoyed by robust economic data and constructive comments from Fed officials.

The Standard & Poor’s 500 Index rose 3.93 percent, while the Nasdaq Composite gained 5.29 percent. The Dow Jones Industrial Average lagged a bit, picking up 2.94 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, powered ahead by 4.31 percent.

Upbeat Economic News
Three critical economic data points gave investors what they were looking for: wholesale inflation, consumer prices, and retail sales.

Both the Producer Price Index and the Consumer Price Index rose less than expected in July, reinforcing a picture of cooling inflation. The July retail sales report on Thursday was stronger than expected, which added more fuel to the week-long rally.

Market action slowed down on the week’s final trading day, with positive consumer sentiment gains countered only by a …

  • retirement planning in age of longevity

Retirement Planning In The Age Of Longevity

2025-03-26T20:55:54-05:00July 18, 2024|Categories: Resource Center|Tags: , , , |

Retirement Planning in the Age of Longevity

Over the past 75 years, advancements in healthcare and healthier lifestyles have significantly increased the average American life expectancy. In 1950, the average life expectancy was 68 years, but by 2022 it had risen to 77.5 years. This increase in longevity means retirement planning has become more complex, as the retirement phase now has the potential to span decades. Longer life expectancies bring the challenge of ensuring savings last throughout an extended retirement, alongside rising inflation and healthcare costs.

The longer retirement period increases the risk of outliving savings, necessitating larger savings pools and more careful planning. Inflation further complicates retirement by eroding purchasing power, while healthcare costs often escalate with age, adding pressure to finances. To successfully navigate these challenges, retirees need a strategy that incorporates early and consistent saving, diversified investments, and multiple streams of income, such as Social Security, pensions, 401(k)s, …

  • Aging Parents 3, Part III

Caring For Aging Parents – Part III

2025-03-25T10:19:40-05:00February 28, 2024|Categories: Resource Center|Tags: , , , |

HOW TO CARE FOR AGING PARENTS – PART III

As your parents age, it’s essential to focus on improving their quality of life by addressing their housing, transportation, medical care, and social needs. Aging may require modifications to their current living situation, such as retrofitting the home for safety or moving to a more accessible space. If managing a household independently becomes too challenging, part-time or full-time care, or even relocating to an assisted living facility, might become necessary. Discussing these options early on can help in making decisions that support their well-being.

Another significant challenge is when your parents are no longer able to drive. It’s important to create a plan to help them maintain mobility and independence. Alternatives like taxis, rideshare services (Uber, Lyft), or public transit can be helpful, and you can also offer to drive them to appointments when possible. While this can be a difficult transition …

  • Aging Parents II

Caring for Aging Parents – Part II

2025-03-25T10:15:06-05:00February 28, 2024|Categories: Resource Center|Tags: , , , |

Caring For Aging Parents Part II

How to Care for Aging Parents – Part Two 

Caring for aging parents requires having important conversations about their end-of-life and financial wishes. By starting these discussions early, you can ensure that their preferences are respected when the time comes, and they have time to reflect on their choices.

A crucial part of this conversation involves discussing their end-of-life wishes. Topics to address include funeral preferences, burial versus cremation, and where they’d like their remains to rest. By having these discussions early, you help your parents make thoughtful decisions. It’s also important to talk about their wishes regarding medical care and organ donation, which can be outlined in a Living Will. This ensures that if they are unable to communicate their desires later, their choices are known.

Estate planning documents play a key role in organizing their affairs. A Last Will outlines how their assets should …

  • Aging Parents I, Part I

Caring for Aging Parents – Part I

2025-03-25T10:23:56-05:00February 28, 2024|Categories: Resource Center|Tags: , , , , |

CARING FOR AGING PARENTS

As the population over 65 continues to grow due to healthier lifestyles and medical advancements, many people are facing the challenge of caring for aging parents. One of the most difficult conversations to have with an aging parent involves discussing extended medical care. These conversations can be emotionally charged and difficult, but approaching them with a strategy can help make the process smoother.

To start, it’s important to gather essential information before having the discussion. This includes details about your parent’s primary physician, specialists, medications, allergies, and their medical and estate management paperwork. Having documents like the Medicare card, insurance information, durable power of attorney for healthcare, and estate documents ready can also help guide the conversation.

While it’s important to be thorough in gathering information, you should also be prepared for an emotional response. The transition from being a provider to a dependent can be difficult for …

The Great Resignation

2022-03-07T22:27:35-06:00March 6, 2022|Categories: Resource Center, Weekly Update|Tags: , , , , |

The Great Resignation

The Great Resignation — a popular phrase referring to the roughly 33 million Americans who have resigned since the spring of 2021 — is far more than just a movement of people quitting their jobs. It’s a shift in the mindset of primarily Millennial and Generation Z workers, who are fed-up and looking for a change.
In our latest article, we take a look at the phenomenon that is The Great Resignation and unpack why people are resigning and how companies are addressing this unprecedented labor market issue. Download the article here.
  • Two People Reviewing Finances, Money Tips for Better Relationships

Money Tips for Better Relationships

2025-03-25T12:33:26-05:00May 26, 2021|Categories: Resource Center, Weekly Update|Tags: , , , , |

Money Tips for Better Relationships

Financial disagreements are a significant challenge in marriages, with research indicating that 70% of married millennial couples argue about money more than any other topic. These disputes can contribute to marital strain and even dissolution. However, couples who approach their finances collaboratively can often overcome these challenges and strengthen their relationship.

Effective communication is crucial for navigating financial discussions. Couples should openly talk about their financial goals, habits, and past experiences, as these factors often shape how each partner views money. Setting shared goals and creating a mutually agreed-upon budget can provide clarity and foster unity. Additionally, regularly meeting to review financial matters, establishing a clear threshold for big purchases, and working together on decisions can minimize conflict and ensure both partners feel involved.

Trust, honesty, and a willingness to update financial plans as life changes are also vital. Couples may benefit from seeking the advice of …

  • Woman Drinking Coffee On Bench With Dog At Her Side, 9 Crucial Steps to Ensure You’re Prepared for Retirement

9 Crucial Steps to Ensure You’re Prepared for Retirement

2025-03-25T12:40:57-05:00March 26, 2021|Categories: Resource Center, Weekly Update|Tags: , , , |

9 Crucial Steps to Ensure You’re Prepared for Retirement

As retirement approaches, it’s crucial to have a plan in place to ensure a smooth transition. The pre-retirement checklist is an essential tool to help you assess how ready you are. By breaking down key elements, you can better understand your goals and progress. Start by determining your goals—consider when and how you want to retire, your desired lifestyle, and where you plan to live. Whether you plan to downsize your home, travel, or enjoy a more relaxed pace, defining these aspects will shape your retirement.

Health insurance, long-term care, and Medicare strategies are also important considerations. Since 52% of people turning 65 will require long-term care, planning ahead is essential. Similarly, understanding your health coverage options and preparing for potential medical costs is vital. When it comes to finances, reviewing your spending and budget is crucial. Assess your current savings and …

  • Older Couple at Beach, Insurance Golden Years

Insurance Golden Years

2025-03-25T12:37:03-05:00February 18, 2021|Categories: Resource Center|Tags: , |

Insurance Golden Years

Insurance Golden Years 

As you approach later adulthood and retirement, your financial focus and priorities will inevitably shift. With children leaving the nest and the anticipation of retirement, this is a time to reassess and protect the assets you’ve accumulated. During this final stretch to retirement, wealth protection becomes essential, not just through investments but also by securing appropriate insurance coverage for potential financial risks, especially health-related ones.

Auto, home, health, life, and long-term care insurance all play vital roles in your retirement planning. You may be able to reduce auto insurance rates by taking advantage of discounts or reassessing who is on your policy. Likewise, while you might have paid off your mortgage, continuing home insurance is important for property and liability protection. As you age, health insurance choices become more crucial, particularly when transitioning to Medicare at age 65. Life insurance may also remain relevant, not only …

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