The typical fees charged for child care vary widely by state. The U.S. Department of Health and Human Services considers child-care costs to be affordable when they are at or below 7% of annual household income — but many families face costs far above that threshold. $310,605 – Estimated cost for a middle-class family to
“London Bridge is down.” On September 8, 2022, those words were reportedly used to launch what was arguably the most complex end-of-life proceedings the world has ever witnessed: the funeral arrangements for Queen Elizabeth II. The plan, known as Operation London Bridge, laid out in exacting detail how the ensuing days would unfold. Although most
Inflation is a sustained increase in prices that reduces the purchasing power of your money over time. According to the Consumer Price Index (CPI), inflation peaked at an annual rate of 9.1% in June 2022, the fastest pace since 1981, before ticking down to 7.7% in October.1 The CPI tracks changes in the cost of
53% – Percentage of Americans who said they had set aside at least three months of emergency funds in 2021, up from 49% in 2018 and 35% in 2009. It’s likely that government stimulus programs contributed to this improvement. The end of stimulus payments coupled with high inflation may make it more difficult for some
21.8% – The inflation-adjusted jump in charitable giving to arts, culture, and humanities in 2021, the largest increase of all categories. Source: Giving USA, 2022 Americans donated $484.85 billion to charity in 2021, a 4% increase over 2020’s record amount. Adjusted for inflation, however, the growth was a relatively flat -0.7%. For the fourth year
$24.2 trillion – Projected national debt at the end of 2022, equivalent to about 98% of gross domestic product (GDP). By 2032, the national debt, which represents the accumulation of past budget deficits, is projected to be $40.2 trillion, almost 110% of GDP — the largest percentage on record. Source: Congressional Budget Office, May 2022
A pooled income fund is a trust with both charitable and noncharitable beneficiaries. It is established and run by a public charity, not by you. The charity “pools” the irrevocable contributions of many people, invests the money, and then distributes to you (or your designated beneficiary) a periodic income payment (usually quarterly or annually) for
$452 billion – Total assets in 529 savings plans, as of December 2021, spread over 14.8 million accounts. The average account balance was $25,395. Source: ISS Market Intelligence, 2022 The typical family uses a combination of income, savings, borrowing, and grants/scholarships to pay for college. Not surprisingly, the largest source of funding — 45% —
For the 12-month period ending in May 2022, the Consumer Price Index for All Urban Consumers (CPI-U) — the most widely used measure of inflation — increased 8.6%, the fastest pace in 40 years.1 The rate may trend downward as the Federal Reserve raises interest rates and supply-chain issues improve. But inflation is likely to
When you open an account or update an existing account at a brokerage or a financial firm, you may be asked you if you want to designate a “trusted contact.” This individual may be contacted in certain situations such as when financial exploitation is suspected or there are other concerns about your health, welfare, or
