Will Hurricanes Harvey and Irma push the economy into a recession? Brian Wesbury and Robert Stein assess the economic impact for Advisor Perspectives. Those approaching retirement now wonder if Social Security will still be there for them. There’s little hope for fixing the program in the immediate future, as Chris Farrell explains. The most important part of planning for your retirement may be estimating your future health care costs. Medicare will not cover all your expenses, but there are ways to make sure you’re prepared for additional costs as they arise.
Hurricane Economics– The hits keep coming. Hurricane Harvey left destruction in its wake, and now, Hurricane Irma has Florida in its sights. Will these weather events cause a recession? Some might think that, as did Nouriel Roubini after Katrina, the damage itself will cause a recession. Others take the opposite tack and think rebuilding efforts might actually help the economy. Neither are correct. By themselves, the storms will not push the economy off its Plow Horse path. Brian Wesbury and Robert Stein explain in this article. Read more…
When You Can Expect Social Security Reform– Social Security isn’t broke and won’t go bankrupt. That said, a serious financial deficit looms for Social Security in the early 2030s. If history is any guide, however, odds are that nothing will be done to shore up Social Security’s finances until then. That’s hardly reassuring news for people now in their mid-40s to early-50s who hope to start claiming then. Read more…
Retiree Health Care Costs Continue To Surge– If you’re not factoring health care costs into your retirement savings strategy, you could be setting yourself up for major financial angina. According to the latest retiree health care cost estimate from Fidelity Benefits Consulting, a 65-year-old couple retiring this year will need an average of $275,000 (in today’s dollars) to cover medical expenses throughout retirement, up from $260,000 in 2016. And that applies only to retirees with traditional Medicare insurance coverage. It does not include costs associated with nursing home care. Read more…
John R. Day, Bill Ennis, Stephanie Davidson and Matt Heller
Disclosure – The articles mentioned in Mid Week with Day & Ennis are for information and educational purposes only. They represent a sample of the numerous articles that the firm reads each week to stay current on financial and economic topics. The articles are linked to websites separate from the Day & Ennis website. The opinions expressed in these articles are the opinions of the author and not Day & Ennis. This is not an offer to buy or sell any security. Day & Ennis is under no obligation to update any of the information in these articles. We cannot attest to the accuracy of the data in the articles.
