Soaring inflation has driven up the cost of raising a child from birth to 17 years old by around $1,530 per year to a total of over $300,000, according to a Brookings Institution estimate provided to The Wall Street Journal. The analysis shows that, when inflation was running at around the Fed’s 2 percent target,…
Red-Hot Inflation Drives up Cost of Raising a Child by Over $1,500 per Year: Report
Millennial: A Scarcity Money Mindset Can Cost You
We all saw it at grocery stores in 2020. The shelves, once brimming with toilet paper and hand soap, were bare. We hid in our homes, deep-cleaning every surface, occasionally braving the threat of COVID-19 to hunt down the last remaining bottle of hand sanitizer in a 50-mile radius. We felt out of control, so…
High Inflation Pushing Retirees Back Into the Workforce
Since the beginning of 2022, many Americans have been returning to the workforce due to a massive rise in prices due to high inflation. During the pandemic, millions of Americans quit their jobs, or were fired due to the lockdowns, or retired early, in what came to be known as the “Great Resignation.” After the…
How Major US Stock Indexes Fared Friday Aug. 19, 2022
Technology stocks led Wall Street lower, leaving major indexes in the red for the week. The benchmark S&P 500 index gave back 1.3 percent Friday, breaking a four-week winning streak. The tech-heavy Nasdaq composite fell even more. The Dow Jones Industrial Average also fell. Meme stock Bed Bath & Beyond plunged after the high-profile activist…
Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 19)
August 19, 2022
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Benchmark U.S. crude oil for September delivery rose 27 cents to $90.77 a barrel Friday. Brent crude for October delivery rose 13 cents to $96.72 a barrel. Wholesale gasoline for September delivery fell 1 cent to $3.02 a gallon. September heating oil rose 5 cents to $3.70 a gallon. September natural gas rose 15 cents…
Ask Kip: How to Donate to Charity and Get Income in Return
August 19, 2022
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By David Rodeck From Kiplinger’s Money Power Q: I’ve been thinking of making a sizable donation to charity, but I’m a bit worried about giving away money I might need in retirement. I’ve heard that a Charitable Gift Annuity could be the answer. How does that work? A: A Charitable Gift Annuity can generate retirement…
Recession Drum Beats Louder As Leading Economic Index Falls for 5th Month Straight
America’s recessionary drumbeat just got louder as a key economic gauge from the Conference Board dropped for the fifth month in a row, weighed down by a slowing job market, weak manufacturing new orders, and deep consumer pessimism. The Leading Economic Index (LEI) for the United States, which is a forward-looking gauge designed to predict…
20 Retirement Mistakes You’re Making Now That Will Cost You Millions
Have you put much thought into your retirement? Unfortunately, most of us don’t. And, that could have serious repercussions if you want to actually enjoy your retirement years. Retirement mistakes are rapid. The thing is, retirement involves more than just opening a savings account and forgetting all about it. You’re also going to have to make some…
UK Consumer Confidence Hits Record Low Amid Soaring Cost of Living
August 19, 2022
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Consumer confidence in the UK has hit a new record low amid soaring cost of living and bleak economic prospects, according to business intelligence firm Growth from Knowledge (GfK). The firm’s Consumer Confidence Index fell three points in August to minus 44, its lowest figure since records began in 1974. All five measures that make…
Providing For Your Loved Ones: Why a Will Is Not Enough
The most common way to pass your assets to your beneficiaries is to use a will. One reason why wills are a common estate planning tool is that they are easy to create. You can even create a will online. Sometimes a will is all you need to get the job done. However, sometimes a…
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