Recent research from the U.S. Department of Health and Human Services suggests that most Americans turning age 65 will need long-term care support during their lifetimes.¹ If the need arises, how will you handle potential long-term care for yourself or a loved one? Planning for the consequences of aging in general, and long-term care in
The U.S. stock market struggled in 2022, with the S&P 500 index ending the year down more 19.4%.1 The S&P 500, which includes stocks of large U.S. companies, is generally considered representative of the U.S. stock market as a whole, and it is a good benchmark for broad market performance. But there are thousands of
If you and your spouse are looking for a way to build your retirement savings but one of you is not working, you might consider funding a spousal IRA. This could be the same IRA that the spouse contributed to while working or it could be a new account. In either case, IRS rules allow
Maintaining an appropriate balance of stocks and bonds is one of the most fundamental concepts in constructing an investment portfolio. Stocks provide greater growth potential with higher risk and relatively low income; bonds tend to be more stable, with modest potential for growth and higher income. Together, they may result in a less volatile portfolio
-21% – Drop in smartphone prices during the 12 months that ended September 2022 — despite the high level of general inflation. Television prices fell 18% over the same period. Better yet, large retailers have reported bloated inventories of electronics and other consumer goods that are likely to result in attractive discounts for holiday shoppers.
The U.S. stock market had a banner year in 2021, with the S&P 500 index up almost 27%. Unfortunately, stocks turned downward on the second trading day of 2022 and kept sliding into a bear market.1 Stocks in the S&P 500 are classified by 11 different business sectors, each of which responds differently to economic
2.5 million – Number of weddings projected to take place in the United States in 2022, according to the Wedding Report, an industry trade group. If predictions come to pass, this could be the biggest year for weddings since 1984. Source: The Wedding Report, 2022 In 2021, the national average cost of a wedding was
Inflation, roller-coaster markets, global events, and life circumstances can test anyone’s fortitude. You may not feel ready to handle these pressure-filled times and might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience you need to help handle the turbulence and hopefully emerge even stronger. Focus
3% – Amount that the prime rate typically runs above the upper end of the federal funds target range. For example, if the federal funds rate is set at 3.25%–3.50% by the end of 2022, the prime rate would typically be 6.50%. The prime rate, which commercial banks charge for loans to their best customers,
When thinking about life insurance, you might focus on the death benefit that can be used for income replacement, business continuation, and estate preservation. But life insurance policies may include other provisions that allow you to access some or all of the death benefit while you are living. These features are often referred to as
