Happy August! As we approach the last days of summer, it appears the economic slowdown is behind us, but the economic data is still telling us the consumer is not as healthy as we might believe. Consumer credit card debt recently surpassed $1 trillion for the first time. Student loan borrowers will soon resume paying an average of $500 per month on outstanding loan balances of over $37,000 – payments they have not had to make since March 2020. And 30-year fixed rate mortgages of 7 percent are slowing the economy, but still have not significantly reduced home prices. There is much to be thankful for, but also reason to be cautious. I hope you enjoy the last weeks of summer and have the opportunity to spend some time with family and friends!
Topics:
Saving for Retirement Health-Care Costs
Put Your Money Where Your Values Are
Coming in 2024: New 529 Plan-to-Roth IRA Rollover Option
Leave a Lasting Gift with an Ethical Will