Chilling out while warming up
Chilling out while warming up
Chilling out while warming up

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Life’s full of financial dualities – just starting your career and saving for its end, paying for the present and planning an eventual legacy. – The Editors |
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Take me out to the ballgame: The world’s highest paid athletes collectively scored an estimated $3.44 billion* over the past 12 months before taxes and agents’ fees, up 16% from last year’s record-setting earnings.
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Vroom vroom Buckle up for rising car insurance rates;* premiums rose 15% in some states over the past year, with the nationwide average revving up to $2,014 a year. With insurance at a premium, drivers are still sticking by their mileage – some 42M+ Americans are likely to travel this weekend,* up 7% from last year. Travel matters: a recent Empower survey revealed that a third of U.S. adults view financial freedom as vacationing at their leisure. If you’re hitting the road this summer, check out our list of R&R retreats that won’t break the bank. |
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Raise the roof We’ve talked about the national debt ceiling a few times now, and the clock is ticking closer to when the bill comes due and Congress must decide* whether to add to the nation’s $31.5 trillion debt or allow the U.S. government to default on its obligations for the first time in history. After weeks of turbulent talks on the floor, President Biden and House Speaker Kevin McCarthy met this week and described their meeting as “productive” but still reached no deal.* Treasury Secretary Janet Yellen said June 1 is the “hard deadline” to increase the limit. See ya next week. As we await a final outcome, we’re homing in on the ways we can impact our personal economy, a worthwhile endeavor when some 38.5% of American adults say they struggle to make ends meet.* |
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Willfully written We’re in the midst of the greatest wealth transfer in U.S. history, with around $16 trillion changing hands in the next decade (with women expected to be top beneficiaries).* Facing your mortality, or that of your loved ones, can come with a wave of difficult emotions. But that shouldn’t deter people from penning a plan, advises a senior estate planning specialist with Empower. One of the greatest challenges of estate planning may be deciding how (and to whom) you dole out your life’s earnings, with some gifting their assets to friends,* while others are working through expectations in blended families.* Choosing who gets what is only one portion of estate planning; perhaps equally important is who you select to oversee and implement your final wishes. Our estate planning pro suggests carefully considering who can fill various key roles, from your account executor to child guardian to healthcare agent. Your inner circle may evolve throughout life; keep up the periodic conversations to ensure the people you tap are up for the task. Get the full take on choosing your support team. |
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*Empower Retirement, LLC, and its affiliates are not affiliated with the author or responsible for the third-party content provided from links to external material. |
The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. No part of this blog, nor the links contained therein is a solicitation or offer to sell securities. Compensation for freelance contributions not to exceed $1,250. Third-party data is obtained from sources believed to be reliable; however, Empower cannot guarantee the accuracy, timeliness, completeness or fitness of this data for any particular purpose. Third-party links are provided solely as a convenience and do not imply an affiliation, endorsement or approval by Empower of the contents on such third-party websites.
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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.
Advisory services are provided for a fee by Empower Advisory Group, LLC (“EAG”). EAG is a registered investment adviser with the Securities and Exchange Commission (“SEC”) and subsidiary of Empower Annuity Insurance Company of America. Registration does not imply a certain level of skill or training.