Financial and Economic Brief - March 1, 2021by © Liberty Publishing, Inc.
The Bureau of Economic Analysis (BEA) spells it all Out
If you have ever wanted to find an informational foundation that provides complete analysis of several parts of the American economy, look no further. The BEA is the go to source for government officials when they are looking for economic trends and past data. In order to make wise financial decisions it is important to understand the impact of a variety of interrelated data.
How Inflation Effects the Financial Condition of Your Life
At this point, we are frequently told that we should have very little concern about inflation and its impact on the economy. However, everyone must prepare for some change in the economy based on wage growth, interest rates, and the prices that we pay on a daily basis for the essentials of life. Over the long term prices do rise. Those rising prices may influence how you save and invest as well as how much debt you are willing to carry. Here’s a description of what inflation is currently looking like.
There is a Growing Need for Long Term Care Insurance as Baby Boomers Enter Old Age
Changing family dynamics over the past few decades has caused Baby Boomers to realize that taking on a long term care insurance policy may have been something that should have been done a decade ago. Children who make up two working parent families are finding it increasingly difficult to care for their aging and infirmed parents. The percentage of individuals that are embracing long term care insurance is on the rise. Combining it with a life insurance policy or an annuity is a creative option as the following information points out.