Author: Mark Garro

America’s aging population faces a grim reality as Social Security trust funds teeter on the brink of depletion. Fund reserves for Social Security and Medicare will be exhausted by 2034, posing challenges to maintaining benefits for current and future beneficiaries.  Retiree Financial Crisis on the Horizon The situation presents a dire financial crisis for millions […]

As Baby Boomers approach their later years, they will transfer their wealth  — more than $75 trillion — to younger generations. This will mark one of the most significant financial shifts in history. Unprecedented Transfer of Wealth This unprecedented change is more than a transfer of assets. It represents a critical juncture for families grappling […]

It appears not even Valentine’s Day is safe from the cost of living crunch. American millennials are adjusting how they spend on this Hallmark holiday, finding new ways to celebrate love in the face of rising expenses. Budget Love: The New Norm This Valentine’s Day, a significant number of American couples, particularly millennials, are tightening […]

Homelessness in the United States has surged to alarming levels in 2023, marking a pivotal moment for legislative action. Diane Yentel, the president and CEO of the National Low Income Housing Coalition, highlights the growing crisis and urges Congress to intervene with decisive measures. Record-Breaking Homelessness Rates The Department of Housing and Urban Development’s recent […]

San Diego, known for its stunning beaches and vibrant culture, is now gaining notoriety for a less desirable reason: its soaring housing costs. With the average price of single-family homes exceeding $960,000 and rental prices skyrocketing, residents are feeling the pressure.  The Rental Reality Zillow reports that the median rent for a one-bedroom apartment in […]

Baby boomers benefitted from the bustling economy of the post-war era and, taking advantage of unparalleled prosperity, now have a collective wealth of tens of trillions of dollars. $53 Trillion of Accumulated Wealth According to a report from Cerulli Associates, baby boomers will hand down over $53 trillion to their heirs between now and the […]

Rising healthcare costs and the burden of medical debt are not just straining personal finances. They’re impacting health outcomes and quality of life. According to the Commonwealth Fund’s Health Care Affordability Survey, Americans owe $88 million in medical debt.  Healthcare Affordability Enters Crisis Stage As Americans grapple with these challenges, healthcare affordability is now a […]

Previous generations looked forward to winding down their work lives in their mid-60s, but a Gallup poll reports many are now staying in the labor force longer than they anticipated.  61, The New Retirement Age  The average U.S. retirement age has increased to 61, from 57 in the 1990s, according to Gallup.  Derailing Retirement Plans […]

Wall Street witnessed a historic moment as the S&P 500 soared to its first record high close in two years, driven largely by optimism in artificial intelligence and technology sectors.  Record-Breaking S&P 500 Close The S&P 500cc, a key benchmark for U.S. stock markets, marked a notable achievement with its highest close since January 2022. […]