“London Bridge is down.” On September 8, 2022, those words were reportedly used to launch what was arguably the most complex end-of-life proceedings the world has ever witnessed: the funeral arrangements for Queen Elizabeth II. The plan, known as Operation London Bridge, laid out in exacting detail how the ensuing days would unfold. Although most
Inflation is a sustained increase in prices that reduces the purchasing power of your money over time. According to the Consumer Price Index (CPI), inflation peaked at an annual rate of 9.1% in June 2022, the fastest pace since 1981, before ticking down to 7.7% in October.1 The CPI tracks changes in the cost of
53% – Percentage of Americans who said they had set aside at least three months of emergency funds in 2021, up from 49% in 2018 and 35% in 2009. It’s likely that government stimulus programs contributed to this improvement. The end of stimulus payments coupled with high inflation may make it more difficult for some
21.8% – The inflation-adjusted jump in charitable giving to arts, culture, and humanities in 2021, the largest increase of all categories. Source: Giving USA, 2022 Americans donated $484.85 billion to charity in 2021, a 4% increase over 2020’s record amount. Adjusted for inflation, however, the growth was a relatively flat -0.7%. For the fourth year
$24.2 trillion – Projected national debt at the end of 2022, equivalent to about 98% of gross domestic product (GDP). By 2032, the national debt, which represents the accumulation of past budget deficits, is projected to be $40.2 trillion, almost 110% of GDP — the largest percentage on record. Source: Congressional Budget Office, May 2022
A pooled income fund is a trust with both charitable and noncharitable beneficiaries. It is established and run by a public charity, not by you. The charity “pools” the irrevocable contributions of many people, invests the money, and then distributes to you (or your designated beneficiary) a periodic income payment (usually quarterly or annually) for
$452 billion – Total assets in 529 savings plans, as of December 2021, spread over 14.8 million accounts. The average account balance was $25,395. Source: ISS Market Intelligence, 2022 The typical family uses a combination of income, savings, borrowing, and grants/scholarships to pay for college. Not surprisingly, the largest source of funding — 45% —
For the 12-month period ending in May 2022, the Consumer Price Index for All Urban Consumers (CPI-U) — the most widely used measure of inflation — increased 8.6%, the fastest pace in 40 years.1 The rate may trend downward as the Federal Reserve raises interest rates and supply-chain issues improve. But inflation is likely to
When you open an account or update an existing account at a brokerage or a financial firm, you may be asked you if you want to designate a “trusted contact.” This individual may be contacted in certain situations such as when financial exploitation is suspected or there are other concerns about your health, welfare, or
The arrival of the COVID-19 pandemic in 2020 led to a surge in demand for vacation/second homes — mainly spurred by government shutdowns and stay-at-home advisories. Whether working remotely, attending school online, or meeting up with friends and family virtually, people found themselves spending more time than ever at home.1 If you are thinking about
