In light of decades-high inflation, the Federal Reserve tightening monetary policy, and concerns about an economic slowdown, U.S. consumer sentiment has plummeted.. This year, sentiment is historically low, according to the University of Michigan Survey of Consumers.
September 22, 2022
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Capital Markets Outlook | Q3 2022
After the fall
With the S&P 500 in a bear market, the Fed’s aggressive hikes may be too late to tame inflation and too aggressive for a soft landing.More »
Fixed Income Outlook | Equity Insights
Headlines you need to know this week — September 20, 2022
Social Security COLA could reach 8.7% Based on the recent Consumer Price Index data, the Senior Citizens League estimates the cost-of-living adjustment (COLA) for Social Security benefits in 2023 could reach 8.7%. The data released last week shows inflation rose 8.3% in the past 12 months ended August. Core inflation increased 6.3% over the 12-month period.
Many generations focus on saving Nearly 60% of respondents in a recent survey said they were on track to save more than $20,000 this year toward retirement, up from 51% of respondents in 2021. The study found 82% of these savers (defined as Gen X, Gen Y, and Gen Z retirement plan participants saving 90% or more of the IRS max in their 401(k) plan), feel confident that their savings will endure a recession.
Reaching out to next gen investors In a recent survey, 84% of respondents said they would prefer to work with a human advisor and 16% said they use a robo advisor for investing. Many next generation investors prefer robo advisors for actions that are easily automated and human advisors for advice, investing, and legacy and tax planning. For advisors seeking to grow their business with the next generation, a strong digital presence is needed, the article noted. Some suggestions include: use TikTok to build a digital marketing presence and use trackable links to find out who is reading the material.
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