We’re starting to see some small chinks in the armor of the U.S. economy. Companies are getting cautious with their earnings guidance and looking for ways to cut costs. One of their biggest expense items is labor, and reports of layoffs are starting to pick up. The unemployment rate – while still very low at 3.9% – is up half a percentage point now from its low.
Consumers remain the engine of economic growth, but there are new signs they are under pressure. Credit card balances hit a record $1.08 trillion in the third quarter – the biggest jump ever recorded – and the upcoming holiday shopping season could tell us how close we are to being tapped out.
What this all means for the most widely-predicted recession in modern history – and how severe it might be if it happens – should become clearer between now and the end of the year. All of which explains that uneasy feeling you might be getting when you look at your investment portfolio.
History tells us that this too shall pass. But nobody said we have to enjoy it.
Thanks to inflation, you’ll be able to save hundreds more for your retirement next year and beyond. (Reading time: 3 minutes)
Why didn’t the federal government lock in borrowing rates when they were at historic lows? Some believe we will pay dearly for this unforced error. (Reading time: 2 minutes)
The National Association of Realtors just lost a $1.8 billion lawsuit, which could prompt more competition over commissions. (Reading time: 6 minutes)
If you use Mint to manage your personal finances, you’ll be seeing some big changes on January 1. (Reading time: 3 minutes)
The best answer is ‘both’ – but depending on these factors, one move may be smarter than the other. (Reading time: 6 minutes)
If you’re having trouble finding money to save, try these baby steps to get started. (Reading time: 6 minutes)
These strategies make perfect sense on the surface – but they could easily be costing you more than they’re worth. (Reading time: 5 minutes)
Stick with these assumptions at your own peril. (Reading time: 4 minutes)
In our latest client webinar, we explore strategies for extending your financial success beyond your own lifetime. (Running time: 39 minutes)
America’s financial prospects look bleak to some – until you compare us to everyone else. (Reading time: 3 minutes)
Words to the Wise
“Indeed, who has ever benefited during the past 237 years by betting against America? If you compare our country's present condition to that existing in 1776, you have to rub your eyes in wonder. And the dynamism embedded in our market economy will continue to work its magic.”
– Warren Buffett
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