What we know:July's unemployment rate has increased each of the past 4 months and has climbed from 3.5% last July to the current 4.3%.
What we think: The rise in the unemployment rate is indicating a significant slow down in the economy and increases the likelihood of a recession before year end.
Start saving early for education expenses
The average cost of education might surprise you
According to the Education Data Initiative, the average cost of college education has more than doubled in the 21st century. At $38,270 per student per year, and a compound annual growth rate of 4.11%, it's never too early to start saving.
If considering a private K-12 education, click here to learn about the costs of private schools. (Hint: it's half that of a private university.)
Student loan debt impacts individual choices plus overall economy
We help parents save to send their children to college without taking out a student loan. For some, however, a loan is necessary, especially when pursuing private college and graduate degrees. This can weigh on decisions after graduation.
Students–delay in homeownership, marriage, children, investing for retirement.
Economy–fewer new businesses, lower rates of homeownership, reduction in consumer spending.
The Vault—a perfect repository for tax documents
We ask that you send us the first two pages of your 2023 tax return. What better place to store important tax documents than in the Vault, within your Client Access account.
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