Investors may be worried about rising interest rates, but many could benefit from them. It all depends on your point of view, according to Russ Koesterich of BlackRock. For the elderly, the greatest financial challenges may be posed by scammers on the internet and relatives asking for financial help they find hard to refuse. A survey released yesterday by the American Institute of CPAs reveals some surprising numbers about elder financial fraud. If you’ve been watching the prices of everyday purchases, you may have noted they’ve actually gone down. The American Institute for Economic Research has the most recent figures on the Everyday Price Index, with an explanation about the sometimes confusing difference between the Consumer Price Index and the Everyday Price Index.
Why Higher Rates Could Be Good News For Consumers– Many investors worry about the impact rising interest rates could have on financial markets. It is easy to forget there is an upside: Some consumers will gain from more income and be able to spend more. Russ Koesterich of BlackRock explains. Read more…
Elder Fraud Takes An Emotional Toll– The American Institute of CPAs released a survey on elder fraud yesterday showing that the elderly are much more likely to suffer emotional distress than financial distress as victims of financial fraud and abuse. 79 percent of CPA financial planners have seen older people defrauded by phone and internet scams. Following close behind was financial abuse of those elderly people who found it impossible to say no to relatives (72 percent) and elderly people providing support for adult children (57 percent), the survey says. Read more…
Everyday Prices Compared To CPI– Over the past 12 months the Everyday Price Index (EPI) has decreased 3.2 percent while the Consumer Price Index (CPI) has decreased 0.1 percent. The difference between the EPI and the CPI over the past 12 months occurred because the EPI assigns a greater weight to gasoline relative to the CPI. The American Institute for Economic Research’s Everyday Price Index (EPI) measures the changing prices of frequently purchased items like food and utilities. The EPI basket contains only prices of goods and services that Americans typically buy at least once a month, excluding contractually fixed purchases such as mortgages. Read more…
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John R. Day, Bill Ennis, Stephanie Davidson and Matt Heller