A cyberattack shut down a major gas and energy pipeline supplying the East Coast of the United States for several days. The actual pipelines themselves are still functional and have since started running again, but it’s led to long lines and closed gas stations in many regions.1,2
While this situation is alarming and has a number of short-term consequences, it’s important to remember that the attack has mainly affected the computer systems used to transport the fuel. The flow of gasoline will soon return to its normal rate.1
Adding to the financial woes is the latest Consumer Price Index (CPI), a high jump of 4.2%. (Economists were looking for 3.6%.) Fed officials are saying that this represents a temporary rise and indicate that these may be influenced by the overall economic recovery, post-pandemic.3
Whatever lies ahead, it’s important to remember that, while these might be difficult matters for the household, they do not necessarily reflect the economy as a whole. Your economic strategy factors information like rising prices, so it’s important not to let certain events distract you from the bigger picture. As always, I’m happy to have a conversation with you about any concerns you may have.
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As a parent or grandparent, you know firsthand the challenges of funding a child’s education. The Free Application for Federal Student Aid (FAFSA) Act was passed at the end of 2020 and has changed some of the qualifications for students to receive financial aid.
The real rate of return is an important personal finance concept to understand. And it goes hand-in-hand with the rate of inflation. It’s the rate of return on your investments after inflation. The real rate of return indicates whether you are gaining or losing purchasing power with your money.
Recently, you may have seen headlines regarding the Securing a Strong Retirement Act, also referred to as the second version of the SECURE Act, or SECURE Act 2.0.
If there is a “silver lining” to all the inflation talk, it may be that Social Security benefits are expected to see a larger-than-normal increase in 2022. Preliminary COLA Social Security estimates call for a 4.7% cost-of-living increase (COLA) in Social Security benefits next year, which would be the highest since 2009. Benefits rose 1.3% … Continue reading “A COLA With Your Social Security?”
With COVID, there were some who believed that progress on this health issue was a necessary precondition to economic recovery. In recent weeks, we have seen some promising trends emerge on the health front. The CDC is reporting the provision of 295 million vaccinations; 51% of Americans have had at least one injection.1
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