Hunter Kuffel is a personal finance writer with expertise in savings, retirement and investing. Hunter is a Certified Educator in Personal Finance® (CEPF®) and a member of the Society for Advancing Business Editing and Writing. He graduated from the University of Notre Dame and currently lives in New York City.
Gross domestic product in the U.S. fell 0.9% in the second quarter of 2022, marking the second consecutive quarter of negative growth, the commonly accepted definition of a recession. The National Bureau of Economic Research is the body that officially declares a recession; it has not done so and is unlikely to do so in the immediate future. Though unemployment is still relatively low, at 3.6% in June despite more recent signs of softening, the contraction of GDP, itself the broadest measure of the economy, points to signs that we are in a recession, as unconventional as this economy may be and as disinclined as the Biden administration is to admit it. Economic recessions, of course, can cost millions of people their jobs, retirement savings and financial security. As a result, it can be hard to see a path back to a strong stock market and, in turn, positive economic growth. However, recessions are a sometimes inevitable part of a business cycle. As such, it pays to know the warning… Read more
The chartered retirement planning counselor (CRPC) designation distinguishes financial advisors and other retirement professionals as experts in helping clients prepare for retirement. To become a CRPC, these individuals must meet several qualifications, undergo hours of training and take an examination. Once a CRPC has their certification in hand, there are continuing education requirements that help keep their knowledge up to date. To find a financial advisor that specializes in retirement planning, you can use SmartAsset’s free advisor matching tool. Read more
If you are considering an estate plan, there are many paths you can take. One way to protect assets for your family is to create a living trust. Probate and inheritance laws vary from state to state, which means that the advantages and disadvantages of this estate planning tool will depend on where you live. A financial advisor could help you answer many estate planning questions for your needs and goals. Read more
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