A recent report produced by the Pew Research Center discusses the increasing trend of parents financially supporting their adult children well into adulthood—a phenomenon driven by higher living costs, delayed adulthood milestones, and a wider wealth gap between generations. As a Financial Professional (FP), it is essential to consider the complete picture of a household—every member affected by financial planning and decision-making, even those no longer considered dependents.
Delve into the intricate relationship between income and happiness through the lens of behavioral finance. Explore valuable insights into the nuanced effects of income changes on client well-being, encompassing not only immediate happiness but also various financial and social dimensions. Learn practical strategies to effectively guide clients through the potential pitfalls associated with increased income, providing a roadmap for sustaining lasting financial happiness.
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Soaring mortgage rates and record-high home prices are reshaping personal finance goals, pushing many to rethink the traditional notion of homeownership. This article explores the trends in home-buying behavior, from a shift towards renting, investment reallocation, changing perceptions of success, and the larger economic implications.
In a survey conducted by Yahoo Finance and Ipsos, the intersection of holiday gift-giving and investments is revealed. With nearly 1,100 participants, the survey reveals a notable finding: 70% of Americans express a willingness to receive financial products as holiday gifts, suggesting a widespread concern about financial futures and a desire for stability. Discover why 70% of respondents expressed enthusiasm for such gifts and the impact of generational and income differences on respondents’ preferences. For Financial Professionals, understanding these preferences is key to guiding clients effectively.
This article explores the “Great Retirement” phenomenon in the United States, driven by the repercussions of the COVID-19 pandemic. This shift holds significant implications for retirees and non-retirees, shaping the broader economic landscape. As a result of these trends, we are seeing lower labor market participation rates, challenges in reentering the workforce, and shifts in retirement patterns for older Americans.