2024-05-13 | economy retirement
... retired investors are unsure if they will ever retire. Moreover, an additional 19% claim that they will retire later than planned because of inflation. "While it's understandable that the turbulent markets we've seen over the last few years have investors on edge, we no longer expect a recession in 2024 and still predict rate cuts will occur later this year," said Mark Hackett, Chief of Investment Research at Nationwide Financial. "It's important for investors to focus on what they can control in today's economic environment, and one way they can do that is by working with their advisor or fi...
2024-04-26 | retirement
... there remains a glimmer of optimism among respondents, with 33% believing their financial situation will improve over the next 12 months. However, the specter of inflation and escalating costs looms large: - More than a third (37%) worry about covering basic expenses like food and housing.- Over a quarter (26%) express concerns about meeting family caregiving costs.- A staggering 70% are anxious about prices outpacing their income growth.- Shockingly, over a quarter (26%) of those not yet retired anticipate never being able to retire. Nancy LeaMond, AARP's Executive Vice President and Chief ...
2024-04-22 | demographics economy finances
... ast quarter. "Despite the recent rise in inflation, Hispanics are increasingly positive about their personal finances due to the declining unemployment rate among Hispanics," said Monica Escaleras, Ph.D., director of BEPI in the College of Business. "From January to March, the rate dropped from 4.9 percent to 3.7 percent according to the Bureau of Labor Statistics." SOURCE Florida Atlantic University Business and Economics Polling Initiative...
2024-04-11 08:45:00 | housing inflation insurance
... ignificant climate events causing over $1 billion in damages each has doubled over the past decade, underlining the growing financial risk to insurers and homeowners alike.The inflation rate, which hovered around 7% in 2023, significantly impacted the insurance sector by increasing the costs associated with home repairs and replacements. This economic pressure, coupled with supply chain challenges and a 5% increase in construction labor costs, contributed to a nationwide average insurance premium increase of approximately 10% from 2023 to 2024.Despite the overarching trend of rising premiums, ...
2024-04-10 | consumers economy
... ear ago. Although inflation has decreased significantly from its peak in June of 2022, it remains the predominant financial challenge for many. According to the survey, 39% of respondents identify inflation as the largest barrier to achieving their financial objectives, a figure more than double those concerned with high expenses (17%), low income (10%), and the effects of high interest rates on debt (8%)."We live in an uncertain world, and this undoubtedly impacts how confident we are about our financial futures," remarked Nick Lane, President of Equitable. He referenced the anticipation surr...
2024-04-09 23:15:00 | demographics retirement
... among white (41%) and Hispanic (39%) respondents.Baby boomers are notably anxious about inflation's impact on their retirement funds, more so than millennials and Gen Xers. Following inflation, 24% of participants are concerned that Social Security won't provide enough financial support, and 22% are worried about the burden of high taxes. Particularly, Gen Xers fear that insufficient retirement savings will be a significant factor in potentially running out of funds.“Running out of money in retirement is a scary thought,” said Kelly LaVigne, VP of Consumer Insights, Allianz Life. “That...
2024-04-09 15:00:00 | consumers financial education
... anced impact of gas price increases on middle-income Americans, noting that while some relief has been felt from lower gasoline prices and income gains outpacing inflation, the journey towards financial security remains fraught with challenges.The FSM™ survey also delves into concerns over credit card debt, the merging of finances post-marriage, and the alarming trend of decreased savings for retirement among middle-income Americans. With 88% of respondents feeling the pinch of rising food prices, the need for a more comprehensive financial education has never been more apparent.Primerica’...
2024-04-09 | consumers economy
... and expectations amid the prevailing circumstances."It's encouraging to see the resilience of both the American people and economy as we emerge from a year marked by uncertainty, continued inflation, high interest rates, and shifting geopolitical dynamics," remarked Paul LaPiana, the head of MassMutual's brand, product, and affiliated distribution. "Adhering to sound financial practices daily, like saving diligently, reducing indebtedness, and diversifying investment portfolios, lays a solid foundation for a secure financial future."Key findings from the survey include:RENEWED FINANCIAL OPTIM...
2024-04-09 | consumers economy
... ious optimism among consumers.The Survey of Consumer Expectations is a critical tool for understanding public sentiment on various economic indicators, including inflation, labor markets, and personal finances. Its insights into consumer expectations by demographic and economic backgrounds offer valuable perspectives for policymakers and financial analysts....
2024-04-05 | debt inflation retirement
... in Q4 2023, 68% said the same in Q1 2024. This is the lowest percentage expecting inflation to get worse since 2021....
2024-03-15 23:59:00 | retirement women
... tile markets and growing living expenses. According to Nationwide's ninth annual Advisor Authority survey, seven out of ten (70%) female investors say that signs of a potential recession and inflation have caused them to reevaluate if and when they can retire as they deal with a cascade of economic headwinds.Keeping up with monthly payments and costs has only gotten harder as living expenses keep going up. The rising cost of living is cited by over four out of ten single women (43%) and married women (40%) as one of the main long-term obstacles to their retirement savings.According to th...
2024-03-12 23:15:00 | consumers economy
... .Median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.Median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.Median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; decreased by ...
2024-03-12 08:42:12 | retirement
... ping their workforce save for retirement while paying down student debt and building up emergency savings. In fact, a third of Gen Z believe their employer could leverage the new legislation to help them save more for retirement by making a matching retirement contribution when they make their student loan payments. Additionally, one-third of Gen Z and Millennials say it will help them save more for retirement while building up emergency savings. This legislation has also added tax credits for small businesses offering retirement plans, including benefits for their employees who participate.Te...
2024-03-12 | healthcare
... , but only 1.4% increase from 2022 to 2023. According to Arland, this is probably because of stabilizing post-pandemic housing market trends5 and inflation. “There is increased demand for skilled workers in the long-term care space, as 10,000 Baby Boomers turn 65 every day until 20306 and seven out of ten of them are likely to need long-term care services and support at some point.” ...
2024-02-15 | consumers economy
... k Americans are optimistic about their income and earning potential in the year ahead, paying off debt and managing the impacts of inflation on household finances continue to be major financial concerns," said Achieve Co-Founder and Co-CEO Brad Stroh. "In addition, those surveyed expect to see more increases in the costs of groceries in the coming year, adding to budgeting challenges."Rising cost of groceries and utility costs force cuts elsewhereNearly half of respondents (47%) believe their household will have to spend more to buy groceries this year, while 40% expect their utility costs wil...
2024-02-15 | retirement financial wellness
... rtain areas having to do with lived experience, including inflation, housing, and Medicare—all of which garner higher scores than the overall average (31%).The study also explores the topic of longevity—an essential knowledge area to understand when planning retirement income to last a lifetime. Americans consistently underestimate life expectancy and are unaware of how long individuals tend to live, with just over one in five (22%) expecting to live past 89 and just over one in four (27%) able to correctly identify the average life expectancy of a man at age 65. This is particularly conce...
2024-01-22 | consumers economy
... t Management at KeyBank, stated, "We all want to feel fulfilled, and our survey shows that Americans are prioritizing their happiness and personal life over money—but facing inflation, societal shifts, and economic uncertainty, many remain concerned about their financial futures." "As the everyday cost of living increases, many of us will have to make critical lifestyle and financial decisions in the year ahead for not only ourselves, but also our households—balancing our lives outside of work with our financial needs and habits for the long term."Many Americans support a "soft-life cultur...
2024-01-18 | housing
... tivity to begin a gradual recovery in 2024 in the presence of a slow-growing economy." The Fed's decision to signal further rate decreases in response to the decline in inflation makes us think that home sales and mortgage originations probably peaked in the second half of 2023 and are now starting to gradually improve. By the end of 2024, we anticipate that mortgage rates will fall below 6%, and homebuilders will keep producing new homes, which will help with affordability. Along with some increase in purchase finance, the drop in mortgage rates is also expected to drive up refinancing volume...
2024-01-09 | economy
... three-year ahead horizon, and to 2.5% from 2.7% at the five-year ahead horizon. Median inflation expectations at the one-year ahead horizon reached the lowest level recorded since January 2021. Median home price growth expectations remained unchanged at 3.0%, remaining well above the series 12-month trailing average of 2.4%.Median year-ahead expected price changes increased by 0.5 percentage point for the cost of a college education to 6.3%, decreased by 0.3 percentage point for food to 5.0%, decreased by 0.7 percentage point for rent to 7.3%, and remained flat for gas at 4.5% and the cos...
2023-06-01 11:00:00 | credit unions lending
... . This has led to increasing reliance on credit cards and personal loans as borrowers seek ways to make ends meet.“Credit union members are facing many of the same inflation-driven economic challenges as the overarching market,” said Sean Flynn, senior director of community financial institutions at TransUnion. “As a result, credit unions are seeing increased balances across the board when looking at credit cards, auto loans, mortgages, HELOCs and personal loans. HELOCs and personal loans are seeing particularly high balance growth, up more than 39% and nearly 26% respectively year-over-...
2023-06-01 | investing
... estment landscape and the strategies employed by investment professionals to navigate evolving market conditions.Additional research by FPA is available at www.financialplanningassociation.org/learning/research....
2023-05-30 | demographics retirement
... U.S. with an annual household income of $50k+ (single) / $75k+ (married/partnered) OR investable assets of $150k....
2023-05-24 10:23:10 | investing
... ncers' are having a profound impact on how, where and what they invest in."While social media and investment apps are making it easier for Gen Z to access financial information, there are still barriers preventing many Gen Zs from getting started with investing. This includes a lack of financial education, which continues to be a cause for concern. Governments, regulators, and investment professionals have a collective role to play in helping Gen Z acquire the necessary knowledge to make well-informed, responsible investment decisions." Gerri Walsh, President, FINRA Foundation, said:&nbs...
2023-02-28 | consumers
... ld still owe money even if they emptied their savings accounts. While consumers are changing their behavior to adjust to the pressures of inflation on their wallets, Nayar noted, "it may not be enough to balance their finances." "Massive credit card debt is carried by customers of all income levels, and if debt interest rates rise, they may soon equal the savings balances of all consumers living paycheck to paycheck1. Now is an excellent moment for consumers who want to reduce their overall debt load to think about consolidating and/or refinancing their debt into an installment loan." ...
2023-01-30 | consumers economy
... r assumption that their salaries will rise this year is proven accurate, it will limit the impact of the Fed to curb inflationary pressures," said Nayar. "Until the economy recovers, more Americans of all incomes will say they live paycheck to paycheck. Consumers must review spending and save for the unexpected now more than ever."...
2022-09-22 | consumers economy
... llet," they must create individualized, user-friendly loan choices that assist consumers in navigating growing pricing.The study also reveals that UK consumers' concerns about inflation and the cost of living are having an impact on their purchasing behavior. 73% of those polled claimed they would cut back on their expenditures, while 54% admitted they had to put off making a large buy on credit because of their current worries. Consumers still rely on credit and are aware of what they want from their credit cards. Refund protection on purchases (42%), fraud protection (39%), and the opportuni...
2022-09-22 | consumers demographics women
... oyment levels, but it rebounded relatively quickly as the labor market recovered and access to paid family leave began to expand. Since then, however, it's been driven further down, as high inflation impacts her spending power and the overturning of Roe v. Wade clouds her economic future. No wonder consumer confidence has been falling, even as women return to the workforce." The Ellevest Financial Wellness Survey 2022 gives further insights into women's money mindsets. Highlights from the findings show: Women are prioritizing their financial goals differently than men: There are stark ...
2022-09-08 09:09:36 | consumers
... month's worth of emergency needs. CEO of the NFEC Vince Shorb said, "The poor and middle class are suffering greatly as a result of years of failing economic policy due to high inflation, rising interest rates, and the early effects of the crisis. I'm concerned about what will happen to people who don't have emergency funds saved up. The world as we know it can alter overnight, as we have lately seen. The time to get ready is now because these catastrophes frequently occur without warning. We urge everyone to act proactively to safeguard themselves and their loved ones and be prepared to...
2022-08-09 12:12:12 | demographics retirement
... need. The majority of Gen X adult children are concerned that inflation is hurting their parents' situation. 62% of adult children say they are worried about the impact that inflation is having on their parents' finances. Over a third of Gen X adult children are worried their parents' financial issues will fall on them. 35% of adult children say they are worried their parents will become a financial burden to them at some point. Over half of Gen X adult children are not able to afford any type of elder care for their parents. 59% of adult children could not afford in-home nursing care or c...
2022-08-09 12:10:00 | consumers economy
... of increasing rents, according to internal Bank of America statistics, with those earning between $51,000 and $150,000 experiencing the largest rent increases. Due to rising rent inflation, younger customers are feeling the pinch the most. In July, Gen Z's median payment increased 16% year over year, compared to just 3% for Baby Boomers. Average gas spending as a percentage of total card spending per household for lower-income households ($50k per year), which peaked at nearly 10% in June, decreased to 9.3% in June as oil prices fell throughout July. According to internal expenditure...
2022-08-09 12:00:00 | economy inflation
... ricans are struggling. About half of investors believe navigating the current inflationary environment will affect their spending and saving habits, Williams said. Prudent financial decisions during uncertain times may make budgeting or investing easier when the economy improves. Now is the time to consult a financial advisor if you need help managing the uncertainty. Source: State Street ...
2022-08-09 | economy inflation customer experience CX UX
... icing pressure is a result of both overstocking and declining customer satisfaction. The paradox here is that declining consumer satisfaction might assist in containing inflation, but only in industries where there are no supply issues. Customer satisfaction has, however, decreased most dramatically in the supply-constrained industries (since 2018), notably in the labor market. Hospitals (-9%), hotels (-7%), and rapid delivery (-9%) are a few examples. Customers are less satisfied in sectors where prices have increased significantly, such as gas stations (-8%), beer (-7%), and utilities (-...
2022-08-08 | economy inflation
... s were broad-based across income groups, but largest among respondents with annual household incomes under $50,000 and respondents with no more than a high school education. Median five-year ahead inflation expectations, which have been elicited in the monthly SCE core survey on an ad-hoc basis since the beginning of this year, also declined to 2.3 percent from 2.8 percent in June. Expectations about year-ahead price increases for gas and food fell sharply. Home price growth expectations and year-ahead spending growth expectations continued to pull back from recent series highs. Households’ ...
2022-08-05 12:00:10 | investing
... Business owner optimism has rebounded after the largest drop in two years, and most plan to continue hiring and investing over the next year. Rising material costs and wage inflation are driving nearly half of business owners to raise prices in the next six months. Tom Naratil, President of UBS Americas and Co-President of UBS Global Wealth Management, said business owners' increased optimism and focus on hiring and investing is an encouraging sign given the current market environment. Business planning, portfolio diversification, and exit planning advice will help them navigate the ...
2022-08-05 12:00:00 | retirement women
... 44% of women with incomes above $200,000 know how to address inflation risk in their portfolios. Jean Chatzky, HerMoney CEO and Alliance for Lifetime Income Fellow, says inflation protection is simple. "Prioritize high-interest debt. Delay Social Security to boost monthly benefits. Keep a diversified investment portfolio for growth and use annuities or pensions for retirement fixed costs. Keep track of your spending to avoid unnecessary or impulsive purchases." Only 12% of women are risk-averse investors. 62% are riskier than their parents, while 35% are riskier than their partners. ...
2022-07-28 10:00:00 | housing
... 9.7% annual gain in May, down from 20.6% in April. But the Federal Reserve and other central banks are increasingly hiking interest rates as they fight rampant inflation. Because of this, bond yields and mortgage rates have skyrocketed, which has decreased demand for mortgages and home purchases. According to mortgage company Freddie Mac, the average interest rate for a 30-year mortgage was 5.54 percent last week, more than twice as high as the rate of 2.76 percent from one year ago. On July 27, the Mortgage Bankers' Association reported its Market Composite Index, which trac...
2022-07-27 | consumers economy
... ession in the next two-years-- while 79% worry about how inflation might impact their financial security. Americans are taking steps to prepare for tougher times ahead. They have cut back on entertainment and meals outside of the home (42%), cancelled monthly subscription plans (29%), and set aside more money for emergency situations (26%). Americans are more dependent on nontraditional investments such as cryptocurrency - which the survey found investors had at least equal ownership to traditional investments like ETFs and mutual funds. Social media is a major sourc...
2022-07-14 12:00:00 | consumers economy
... ity Monitor Inflation drives top concerns. The economy continues to be a major stressor for middle-income Americans, with 41% rating inflation as their top concern. Paying for food and groceries also ranks high (26%, up four percentage points since March) as does their current financial situation (25%, up eight percentage points since March). Most plan to cut back on spending. Nearly three-quarters (71%) report cutting back on restaurant/takeout meals, up from 57% in March. Nearly the same amount (69%) say they plan to keep their current technology instead of upgrading, up from 44% i...
2022-05-19 12:02:00 | retirement
... rkplace Plans Help Keep Retirement on Track Despite the immediate impacts of inflation on Americans’ wallets, retirement planning remains top of mind. When asked what prompted them to begin preparing for retirement, both retirees and non-retirees report access to resources through their workplace and feeling they were at the right age to begin preparing as top factors. About two-in-five retirees said that they started preparing because their job provided resources (40%) or they felt they were at the right age (38%), while almost half (45%) of non-retirees said they started preparing becau...
2022-05-04 12:00:05 | workplace
... ssionals are more diverse than previous generations and their approach to life, work and money is unique, especially as they face external events from market volatility to inflation – many for the first time in their adult lives,” said Kelly Lannan, senior vice president, Emerging Customers, Fidelity Investments. “It’s therefore no surprise this group looks at the workplace in a new light. Of course, financial benefits will always be important, but there’s also a heightened expectation from younger professionals to have more paid time off, schedule flexibility and meaningful work –...
2022-05-04 12:00:01 | advice demographics
... ity in retirement. 51% accept that may never have enough money to retire. 45% say that their financial security in retirement is going to take a miracle. 5. The pandemic served as a reminder of financial basics Nearly half (49%) of Millennials say they felt stressed about their financial security during the pandemic. The experience may have further reinforced for them the value of professional advice. They say the greatest value advisors provided was by helping them better understand their whole financial picture and preventing them from making emotional investment decisions....
2022-05-03 12:00:00 | affluent demographics
... ance. One in four (26%) cite issues around family dynamics as a threat. “Some of these are issues out of their control, and with inflation on the rise, as well as the cost of goods, these numbers likely will only go higher,” said Liersch. “Today’s economic environment makes it more important than ever to have meaningful financial discussions among family members while there’s ample time to plan for what’s ahead.” Source: Wells Fargo...
2022-05-02 12:00:00 | consumers credit
... miniscent of the early days of the pandemic and has become the dominant lifestyle across all income categories,” said Anouj Nayar, Financial Health Specialist at LendingClub. “As inflation like we haven't seen in a generation takes more than our daily wages, Americans, thanks to income and credit ratings, are increasingly relying on credit products just to survive. That's why the financial services industry needs to offer the best tools to help fill the gap." A study by PYMNTS found that monthly salaried consumers who had no problems paying their bills had an average credit score of ab...
2022-04-26 12:00:00 | consumers
... tion retreated from an all-time high in March but remained elevated. Looking ahead, inflation and the war in Ukraine will continue to pose downside risks to confidence and may further curb consumer spending this year." Present SituationConsumers' appraisal of current business conditions was mixed in April. 20.8% of consumers said business conditions were "good," up from 19.6%. Conversely, 21.9% of consumers said business conditions were "bad," up from 21.4%. Consumers' assessment of the labor market was less upbeat. 55.2% of consumers said jobs were "pl...
2022-04-25 10:00:00 | financial planning
... this current economic environment, people are wary that market risks may upend existing plans. Many believe that inflation could devalue assets or business and employment challenges could threaten expected income and reduce the size of the estate left to loved ones," remarked Walton. "In addition, there continue to be increased challenges in arranging documents for clients. Clients and estate planners need to plan for the unexpected, such as law changes or family dynamics, to manage increased complexity when it comes to estate planning." Source: TD Ameritrade...
2022-04-20 | inflation retirement
... e that inflation has made them more aware of the need to save more for emergencies or unexpected events. “Voya’s survey also found that, because of inflation, nearly half (43%) of individuals have had to tap into finances that they previously had set aside for retirement — and not surprisingly, this is even higher among millennials (57%),” added Lavallee. “As a result, employers and employees are increasingly looking at the value of benefits in relation to the total net outcome of individuals’ health and wealth needs. And it’s becoming increasingly important for employers to r...
2022-01-10 12:00:00 | consumers economy
... Personal Capital, Craig Birk. “The labor market is strong and retail growth is ticking upwards, but we’re also dealing with recent market volatility and record high inflation. It’s unsettling for many.” Despite this relatively recent decline in confidence, American consumers surveyed report feeling optimistic about their longer-term financial futures. According to the study’s key indicators of financial wellness, many are feeling hopeful and optimistic (40%) about their path towards optimizing their financial health. Americans are also prioritizing financial goals in 2022. When...
2021-12-22 12:00:00 | real estate
... widened the gap between homeowners and tenants in America. Homeowners' wealth has improved significantly over the past year, while tenants have lost those income and are now trapped in rent inflation, ” according to Daryl Fairweather, chief economist at Redfin. “On the other hand, property values have gone up not only in wealthy big cities. Homeowners in rural America who typically don't see significant increases in home values are also reaping the benefits of a booming real estate market. ” The value of rural houses in November increased by 46.2% year-over-ye...
2021-09-09 | retirement
... t (75%) say that, despite the pandemic, they are very or somewhat confident that they will have enough income to live comfortably throughout retirement. A majority say they are very or somewhat confident the overall economy will improve over the next year (57%), and that the pandemic hasn't changed their current or planned standard of living through retirement (58%). An even larger majority (63%) say their investment outlook has not changed since the beginning of the pandemic. Among their top financial goals over the course of the next year are: Spending more on travel, hobbies and i...
2021-08-09 09:26:29 | education
... makes things even harder on countless parents who've seen their financial lives flipped upside down by the pandemic." To view the full report, visit: https://www.lendingtree.com/credit-cards/study/back-to-school-spending-leads-many-into-debt/. MethodologyLendingTree commissioned Qualtrics to conduct an online survey of 1,013 parents with children under 18, from July 21 to July 26, 2021. The survey was administered using a nonprobability-based sample, and quotas were used to ensure the sample base represented the overall population. All responses were reviewed by researchers for quality c...
2021-06-22 10:08:19 | healthcare
... r an average 50-year-old couple, costs will be significantly higher than for the 65-year-old couple, driven by an extra 15 years of annual LTC cost inflation. Assuming projected average longevity, an industry standard of 44 hours of home health care per week, one chronic health condition, and residency in San Francisco, California, a 50-year-old man can expect to spend an average of $368,421 ($128,755 present value) and his wife $486,520 ($166,309 present value) for long-term care. Source: HealthView Services...
2021-06-22 09:08:15 | travel
... on vacation in 2020 36% because they saved extra spending money during the pandemic, and 25% because they are feeling the impact of inflation on the costs of travel as the economy recovers. The unique impact of COVID on women. Quicken's survey shows women plan to spend significantly less on vacations than men. In addition to taking on more household tasks since the start of the pandemic, a significant number of women lost jobs as the economy shut down or were forced to quit their jobs to look after children or family members. In April of 2020, the unemployment rate for women was 16.1%,...
2021-06-02 12:00:05 | consumers economy
... sident of TechnoMetrica, who directed the poll. "Yet despite inflationary concerns, 44% of people believe the economy is improving, and the six-month economic outlook is nearing pre-pandemic levels. The job market also looks promising, with more and more businesses returning and/or opening to full capacity. As such, Americans can hopefully begin to feel greater stability after an extremely turbulent year." Economic Optimism Index Breakdown This month, 18 of 21 demographic groups — such as age, income, race and party preference — that IBD/TIPP tracks were above 50.0, in positive terri...
2021-05-12 12:10:00 | economy
... st 12 months. For the month, the index increased 0.8 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision. Source: BLS ...
2021-05-11 12:00:00 | consumers
... e, it would be problematic if customer satisfaction continues to plummet. So, what’s behind deteriorating customer satisfaction? Let’s look at the usual reasons: inflation, unrealistic consumer expectations, and market concentration. Customer satisfaction may weaken if prices go up, if consumer expectations rise, or if business becomes more concentrated and monopolistic. Few, if any, of these factors are behind the current decrease in customer satisfaction, however. Inflation has not been an issue for a long time. Rising customer expectations, also tracked by ACSI, are not the cau...
2021-05-10 12:00:01 | investing
... ing concerns including inflation. The question remains if the recent flow of positive earnings reports will give us another ‘leg up’ in the market or if inflation or other concerns will end this quiet period and lead to increased volatility.” Equity markets continued their upward trend during the period, with all three major equity indices hitting all-time highs. The S&P 500 and Dow Jones Industrial Average increased 5.2 percent and 2.4 percent, respectively. The Tech sector posted the biggest gains with the Nasdaq Composite increasing 6.3 percent, propelled by recording earnings ...
2021-05-07 | housing real estate
... ther. "Lumber prices are surging, which has driven up prices of new homes and indirectly drives up prices of existing homes. As states lift their pandemic restrictions, we will likely see more shortages and price increases on everything from gasoline to hotel stays and food. These price increases will likely be short-lived, but could cut into homebuyers' budgets and ease competition enough for the housing market to become more balanced. A more balanced market could encourage more move-up homeowners to finally sell, because they won't be so fearful about being able to find and compete for a hom...
2021-05-07 | retirement healthcare
... omen and $143,000 for men. This year’s estimate marks a new milestone high, up 30% from 10 years ago when the amount was $230,000, but just 1.7% from 2020 ($295,000) as health care inflation has remained relatively flat over the last few years. Fidelity began measuring in 2002 to build greater awareness of estimated health care costs and the importance of starting to plan and save early to meet those anticipated expenses. Since then, the estimate has risen a total of 88% (from $160,000). “While this past year has certainly made protecting our health today a priority, we need to d...
2021-04-27 09:12:22 | consumers economy
... m outlook held steady this month. Consumers were more upbeat about their income prospects, perhaps due to the improving job market and the recent round of stimulus checks. Short-term inflation expectations held steady in April, but remain elevated. Vacation intentions posted a healthy increase, likely boosted by the accelerating vaccine rollout and further loosening of pandemic restrictions." Consumers' appraisal of current conditions improved significantly in April. The percentage of consumers claiming business conditions are "good" increased from 18.3 percent to 23.3 percent, while the pr...
2021-04-20 12:00:09 | pandemic
... rsus saving, inflation, asset allocation, and investment diversification. PARENTS ARE TALKING TO THEIR KIDS ABOUT MONEY MORE THAN EVER A record number of parents are having money conversations with their kids regularly: T. Rowe Price recommends that parents discuss money matters with their kids once a week or more. In 2021, a record number of parents followed T. Rowe Price's recommendation with 47% of parents having money conversations with their kids once a week or more. Since 2017, less than 35% reported following T. Rowe Price's recommendation each year. More money conversations were...
2021-04-13 12:00:01 | investing pandemic
... Communication services 21% 24% Consumer discretionary 20% 15% Utilities 19% 20% Materials 19% 15% ...
2021-03-30 15:00:00 | consumers
... s and several big-ticket items. However, concerns of inflation in the short-term rose, most likely due to rising prices at the pump, and may temper spending intentions in the months ahead." Consumers' assessment of current conditions improved significantly in March. The percentage of consumers claiming business conditions are "good" increased from 16.1 percent to 18.5 percent, while the proportion claiming business conditions are "bad" fell from 39.7 percent to 30.5 percent. Consumers' assessment of the labor market also improved. The percentage of consumers saying jobs are "plentiful" increa...
2021-03-30 12:00:02 | economy demographics
... ccine trials. The dip in optimism this quarter was in part due to investors being less optimistic about their household income. Within the index, investors’ 12-month outlook for inflation dropped the most this quarter. Slight declines were also seen in their positive forecasts for unemployment, the stock market and economic growth. At the same time, investors’ outlooks for reaching their investment goals were steady. “The COVID-19 pandemic and ensuing economic and market downturn in 2020 tested investors’ resolve, but patience and resiliency were key in helping them weather the o...
2021-03-16 | retirement
... 19 dollars. Source: T. Rowe Price...
2021-02-22 14:00:00 | investing demographics
... ern investors are inflation (27%), the potential for new regulations (27%) and interest rates (24%). Broker dealers: For their online brokerage accounts, at 66% more investors said an easy to use web and desktop platform is an essential feature than any other, followed by real-time market data (61%) and commission-free trades (60%). 39% identified customer support by phone as the most essential feature, 38% want a free mobile trading app, and 35% are looking for advanced trading features, such as charting and stock screeners. A free mobile trading app is essential for more than half of in...
2021-02-01 12:29:10 | economy
... t, which covers the period from 2021 to 2031, the Congressional Budget Office therefore projects that the economic expansion that began in mid-2020 will continue. Specifically, real (inflation-adjusted) gross domestic product (GDP) is projected to return to its prepandemic level in mid-2021 and to surpass its potential (that is, its maximum sustainable) level in early 2025. In CBO’s projections, the unemployment rate gradually declines through 2026, and the number of people employed returns to its prepandemic level in 2024. CBO is using this economic forecast as the basis for updating its...
2021-01-15 | economy
... d from last year's delayed spring homebuying season, coupled with a modest rise in interest rates, will likely slow the pace of housing, measured both by the volume of mortgages refinanced and by the pace of home sales. However, in our view, a modest slowdown in the sales pace is unlikely to prevent year-end 2021 home sales from being higher than 2020," Duncan concluded. Source: Fannie Mae...
2021-01-13 14:00:00 | consumer expectations housing inflation
... The SCE also provides measures of uncertainty regarding consumers' outlooks. Expectations are also available by age, geography, income, education, and numeracy. The SCE is a nationally representative, internet-based survey of a rotating panel of approximately 1,300 household heads. Respondents participate in the panel for up to 12 months, with a roughly equal number rotating in and out of the panel each month. Unlike comparable surveys based on repeated cross-sections with a different set of respondents in each wave, our panel allows us to observe the changes in expectations and beh...
2020-12-14 | income spending credit
... b prospects and earnings growth and their expectations about future spending and access to credit. The SCE also provides measures of uncertainty regarding consumers’ outlooks. Expectations are also available by age, geography, income, education, and numeracy. The SCE is a nationally representative, internet-based survey of a rotating panel of approximately 1,300 household heads. Respondents participate in the panel for up to 12 months, with a roughly equal number rotating in and out of the panel each month. Unlike comparable surveys based on repeated cross-sections with a ...
2020-11-09 | inflation financial situation
... eclined at the three-year horizon. Both remain substantially above their pre-COVID-19 levels. < br> Median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—decreased at both horizons but remains elevated relative to pre-COVID-19 readings. Median home price change expectations, which have been trending upward after reaching a series' low of 0% in April 2020, were unchanged at 3.1% in October. The median one-year ahead expected change in the cost of a college education declined from 5.2% to 4.9% in October. Median expectations for the cost of ren...
2020-08-10 | inflation household finances
... ncreased 0.2 points at the one-year and three-year horizons, respectively, while disagreement about future inflation also increased. The Fed reported a slight increase in consumers' median inflation expectations for a one-year time horizon, increasing from 2.7% in June to 2.9% in July, above its 12 month trailing average of 2.5%. Consumers continue to relatively pessimistic about their household finances with median expected household income growth remained steady at 2.1% in July for the second consecutive month, which is well below its 2019 average of 2.8%. One-year ahead expectations...
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