Economy Archives

15 06, 2022

Inflation Presents Unique Risks – Know How You’ll Respond
Inflation Presents Unique Risks – Know How You’ll Respond

Inflation Presents Unique Risks – Know How You’ll Respond

BML Wealth Marketing2022-06-15T11:05:54-07:00June 15, 2022|Economy, Federal Reserve, Stock Market|

If your weekly grocery bill is noticeably higher or you can’t believe how expensive gas is, you’re not alone. Inflation is at 40-year highs,[1] and a recent poll found that 52% of Americans said the most important issue facing the country is inflation.[2] It’s significant that so many Americans recognized inflation as a major threat considering how unpredictable that market has been. Inflation presents unique risks, so it’s important to know how you’ll respond to them. The Double Threat of Market Volatility and Inflation Let’s not beat around the bush - sometimes, you’re better safe [...]

23 05, 2022

You Can’t Stop Inflation, But You Can Prepare
You Can’t Stop Inflation, But You Can Prepare

You Can’t Stop Inflation, But You Can Prepare

BML Wealth Marketing2022-05-23T08:34:33-07:00May 23, 2022|Economy, Financial Planning, Inflation|

Did you ever hear your parents or grandparents talk about how much less everything used to cost? They weren’t exaggerating - in 1960, a gallon of conventional whole milk was 31 cents, and today it’s $3.77 on average.[1] A few dollars might not seem like much, but that’s a 1,116% increase. You’ve likely noticed higher prices recently, even if they aren’t 1,116% higher. Unfortunately, you can’t stop inflation. But, you can prepare by working to protect your money from inflation. How Much is Inflation Costing You? In March alone, U.S. gas prices rose by more [...]

11 04, 2022

Rising Interest Rates and High Inflation – How Will You Respond?
Rising Interest Rates and High Inflation – How Will You Respond?

Rising Interest Rates and High Inflation – How Will You Respond?

BML Wealth Marketing2022-04-11T06:39:04-07:00April 11, 2022|Economy, Federal Reserve, Financial Planning|

The Federal Reserve voted to raise interest rates for the first time since 2018 and has several more rate hikes planned for this year.[1] Rising interest rates can have significant effects on the economy and your finances. Between a volatile market, high inflation, and rising interest rates, know how you’ll respond. The Federal Reserve Raising Interest Rates for the First Time Since 2018 The Federal Reserve recently voted to raise interest rates for the first time since 2018. They will raise the benchmark federal funds rate by a quarter percentage point to a range between [...]

31 01, 2022

How Much Are You Left With After Inflation?
How Much Are You Left With After Inflation?

How Much Are You Left With After Inflation?

BML Wealth Marketing2022-01-31T12:58:00-08:00January 31, 2022|Economy, Financial Planning|

In 1960, a gallon of conventional whole milk was 31 cents, and today it’s $3.77 on average.[1] A few dollars might not seem like much, but that’s a 1,116% increase. Now that we’re seeing high inflation, the buying power of your money – including your retirement savings – could be seriously impacted. When calculating how much money you need to retire, consider what you’re left with after inflation. The Eroding Effects of Inflation We’ve seen sustained inflation for some time now, and no one knows when it will end. Year-over-year inflation was 7% in December, [...]

17 01, 2022

Could We See a Major Market Correction This Year?
Could We See a Major Market Correction This Year?

Could We See a Major Market Correction This Year?

BML Wealth Marketing2022-01-17T17:23:45-08:00January 17, 2022|Economy, Federal Reserve, Stock Market|

While we saw record highs in the market in 2021, there’s no telling what could happen in 2022 or beyond. There are reasons we could see a market correction, and now is the time to ask yourself if you’re prepared for one. It can be hard to chart a course for retirement when you consider market volatility, high inflation, and an ongoing pandemic. Federal Reserve Will Wrap Up its Stimulus Program Faster The Federal Reserve plans to slow its stimulus program, which could negatively affect the market. We could see up to three quarter-percentage-point increases [...]

3 01, 2022

Will We See More Inflation in 2022?
Will We See More Inflation in 2022?

Will We See More Inflation in 2022?

BML Wealth Marketing2022-01-05T12:42:04-08:00January 3, 2022|Economy, Federal Reserve|

There are reasons to be optimistic about 2022, but there are also reasons to be worried: Everyone is wondering if we will see more inflation in 2022, where the market is headed, and the effects of a new COVID variant. But whatever 2022 holds, it's important to make a plan for the future. The Federal Reserve’s Latest Statements Wholesale inflation rose at a record annual rate of 9.6% in November. After months of saying that high inflation was just “transitory,” the Federal Reserve has indicated its plan to control inflation. The central bank said it [...]

29 11, 2021

The Potential Hidden Costs of Inflation
The Potential Hidden Costs of Inflation

The Potential Hidden Costs of Inflation

BML Wealth Marketing2021-12-01T13:46:00-08:00November 29, 2021|Economy, Financial Planning|

You’ve probably heard about or experienced the effects of inflation - everyday items can cost more, and the monthly inflation numbers make the news. While the increased costs we see on a regular basis can have an impact on our finances, there may be some potential hidden costs to inflation we don’t necessarily see right away. Not All Tax Thresholds Are Indexed to Inflation Income tax brackets are indexed for inflation, but what about other tax thresholds? The $3,000 limit on capital loss deductions hasn’t increased since 1978 and isn’t likely to in the near [...]

4 10, 2021

Major Changes That Could Happen During Your Retirement
Major Changes That Could Happen During Your Retirement

Major Changes That Could Happen During Your Retirement

BML Wealth Marketing2021-10-05T08:23:47-07:00October 4, 2021|Economy, Retirement Planning, Tax Planning|

Do you ever feel like you live in a completely different world than you did 20 years ago? It’s worth thinking about how different it will be in another 20 years. Beyond cultural and personal changes, we could see major economic changes that could affect us in retirement. It’s always worth knowing what’s going on so you can have a plan to prepare. Could You See Higher Taxes in the Near Future? We’ve seen increased government spending due to COVID and plans to spend trillions more. We could pay for it in taxes down the [...]

2 08, 2021

How Will Social Security Respond to Higher Inflation?
How Will Social Security Respond to Higher Inflation?

How Will Social Security Respond to Higher Inflation?

BML Wealth Marketing2021-10-05T08:30:33-07:00August 2, 2021|Economy, Social Security|

Inflation is on the rise, and Federal Reserve Chairman Jerome Powell recently testified to Congress regarding the Federal Reserve’s commitment to controlling inflation. He admitted that inflation is “well above target” but didn’t indicate any major changes in Fed policy in the near future.[1] Retirees may need to be concerned about inflation, which can eat away at savings and any fixed-income payments they receive, including Social Security benefits. Because of this, we could see a change in how Social Security responds to inflation. Are Social Security Benefits Adjusted for Inflation? Most years, Social Security beneficiaries [...]

6 06, 2021

Is Our Government Anticipating Inflation?
Is Our Government Anticipating Inflation?

Is Our Government Anticipating Inflation?

BML Wealth Marketing2021-06-06T23:26:29-07:00June 6, 2021|Economy, Financial Planning, Government|

The Consumer-Price Index (CPI) rose to 4.2% in April as compared to last year.[1] We could see higher prices when it comes to travel, food, cars, and other common goods and services. High inflation can hurt retirees who are living off their savings, especially when we have near-zero interest rates. We already see bigger Social Security Cost of Living Adjustments predictions to keep pace with inflation, conversations about how to protect money from inflation among investors, and legislation anticipating inflation. The Securing a Strong Retirement Act In 2019 we saw the SECURE (Setting Every Community [...]