Lessons learned
Lessons learned
Lessons learned

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In university quads around the nation, advice is flowing. Graduation season is a time of reflection, and from piggy banks to commencement speeches to weddings, we’re taking a moment to think back on words of advice from all generations, and the financial lessons learned along the way. – The Editors |
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Nom nom: McDonald’s has been rolling out its “hottest, juiciest, tastiest burger yet”* in select West Coast locations, and so far reviewers agree.* Inflation has been a mixed bag for the franchise: while higher restaurant prices have consumers opting for lower-cost options, the rising cost of a Big Mac * is now an average of $5.15, up 22% pre-pandemic. Americans continue to hold a strong appetite – snack sales reached $181 billion last year (an 11% increase), according to The Wall Street Journal.* “I Don’t,” actually: Welcome to wedding season, or as it’s more commonly known, “$$$ season.” According to a Bankrate report,* the quarter of Americans RSVP’ing this year plan to spend an average of $611 per event. Before regretfully declining,* guests can consider creating a monthly budget to help prepare for event costs. One wise vow: Avoid outsized credit card debt unless you want to pay interest ’til death do you part. |
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Word of advice: take your time During his commencement speech for Northern Arizona University's Class of 2023, Bill Gates reflected on the five things* he wished someone had told him when he was 21. Gates not only famously dropped out of college to launch Microsoft, he’s also known for turning down offers to speak at university commencements. Gates says NAU stood out to him for its focus on equity, including admitting any Arizona student* with a GPA above 3.0 and offering free tuition to those coming from families making below $65,000 a year. During his speech, the billionaire spoke about the value of friendships as the foundation of future business connections, finding work that solves a problem, and the importance of work/life balance. |
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Influx of I Bonds Purchasing I Bonds is growing in popularity as the Federal Reserve continues its fight against inflation. |
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The kids are alright... Starting money conversations early can set your kids up for financial success; experts have several suggestions for how to help build smart money habits from a young age.
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1Bond prices generally fall when interest rates rise (and vice versa) and are subject to risks, including changes in credit quality, market valuations, inflation, liquidity, and default. High-yield bonds have a greater risk of default. The interest from Treasury inflation-protected securities (TIPS) is adjusted periodically according to the Consumer Price Index. The return from TIPS may understate the actual rate of inflation due to changes in the bond’s underlying price. Certificates of deposit offered through an FDIC-insured institution are insured up to $250,000 per depositor and typically offer a fixed rate of return. Early withdrawal penalties may apply. As of May 16, 2023, Empower Advisory Group, LLC (“EAG”) holds shares of MSFT in advisory client accounts and do not hold PTON or MCD. |
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Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.
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